Yahoo-Facts and Factors has released a new research report in their database titled, "Global Electronic Cigarette Market Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence and Forecast 2022-2028." The report categorizes the market by product type (disposable, rechargeable, modular), flavor (tobacco, botanical, fruit, dessert, beverage), distribution channel (specialty e-cigarette stores, online, supermarkets, tobacco merchants) and region.
According to the latest research, the demand for the global e-cigarette market size and revenue share in 2021 is estimated to be $17.4295 billion, with expectations that it will surpass approximately $42.09 billion by 2028. The compound annual growth rate (CAGR) during the forecast period from 2022 to 2028 is estimated to be around 16.20%.
Key market participants:
Altria Group, British American Tobacco, Imperial Brands, International Vapor Group, Japan Tobacco, NicotekLlc, Njoy Inc., Philip Morris International Inc., Reynolds American Inc., VMR Flavors LLC, and others.
Main coverage areas:
North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
The main insights derived from the initial study:
According to our analysts' research and analysis, the e-cigarette market is projected to grow at approximately 16.20% annually during the forecast period of 2022 to 2028. In terms of revenue, the e-cigarette market size was approximately $17.4295 billion in 2021 and is expected to reach $42.09 billion by 2028. Due to various driving factors, the market is expected to see significant growth. In 2021, the rechargeable disposable e-cigarette segment had the highest market share, surpassing 40%. Rechargeable products may become increasingly popular due to their affordability and lack of need to purchase consumables such as pods. In 2021, the retail store segment had the largest market share, exceeding 84%. According to region, North America is the leading source of revenue.
Regional Dominance:
North America has the largest share of the electronic cigarette market, with a significant increase in demand among young people. In the United States, for example, electronic cigarettes are primarily used by teenagers. According to data from the Centers for Disease Control and Prevention (CDC), in 2020, 3.6 million U.S. middle and high school students used electronic cigarettes within a 30-day study period, with 4.7% of middle school students and 19.6% of high school students using the devices. Electronic cigarettes make up the majority of tobacco products, with over 3,000 different flavors currently available in the U.S., and new flavors released every year. Nicotine-free electronic cigarette oils are believed to provide a more enjoyable experience than other varieties, and are considered by industry experts to be the best alternative to traditional electronic cigarettes in regional markets. The association between electronic cigarettes and trendy appeal has further enhanced demand for the devices in the North American market.
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