The Future Development of E-Cigarette Market: Opportunities and Challenges

Aug.29.2024
The Future Development of E-Cigarette Market: Opportunities and Challenges
Dongguan Weiwante Intelligent Technology Co., Ltd. pointed out at the 5th Atomization Components Technology Forum that cotton net cores are rapidly developing.

On the morning of August 28, Fang Houyou, General Manager of the Business Division of Dongguan Weiwant Intelligent Technology Co., Ltd., pointed out at the Aerosol Component Technology Forum of the 5th Aerosol Industry Chain Exhibition that cotton wick cores, with their efficient taste and advantages suitable for large capacity and high power, are rapidly developing alongside the rise of disposable cigarettes and open-pod vaping devices, and are expected to reach their peak by 2024.

The Future Development of E-Cigarette Market: Opportunities and Challenges


Currently, the mainstream atomization cores in the market, whether for disposable e-cigarettes or refillable open-system products, have a cotton mesh core structure.


Meanwhile, ceramic cores are mainly used in closed-bolt systems. However, closed-bolt systems have not yet been widely adopted in the European and American markets, and the demand for these products is decreasing.


During the exhibition, Fang Houyou shared the latest industry data and future predictions at the forum. He pointed out that according to the relevant data, countries with global sales exceeding $1 billion in 2023 include the United States ($59.6 billion), the United Kingdom ($33 billion), Canada ($21.4 billion), and France ($12.6 billion). Among them, the global sales of open system reached $76.6 billion, accounting for 36.7% of the total e-cigarette sales.


Fang Houyou expressed optimistic expectations for the market development in the next 5 years. He predicts that the global e-cigarette market will grow fivefold in the next five years, with sales expected to surpass $100 billion. However, he also emphasized the differences in market prospects for different product types. The 2ml pod system is expected to become very popular in the future due to its ease of passing the US PMTA review and low single-use cost. In contrast, the market opportunities for large-capacity disposable e-cigarettes are limited.


We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Product | PMI Japan Launches SENTIA Passion Fruit Capsule, Expanding the IQOS ILUMA Flavor Portfolio
Product | PMI Japan Launches SENTIA Passion Fruit Capsule, Expanding the IQOS ILUMA Flavor Portfolio
Philip Morris Japan (PM Japan) has introduced SENTIA Passion Fruit Capsule, a new tobacco stick designed for the IQOS ILUMA heated tobacco platform. Featuring a crush-activated capsule, the product combines menthol with passion fruit flavor to provide an additional flavor experience. The product launched in Japan from August 3, 2026, through IQOS official channels, convenience stores and tobacco retailers.
Aug.04
Product | IQOS ILUMA i REMIX Limited Edition Launches in Japan, Bringing New Design Elements to Heated Tobacco Devices
Product | IQOS ILUMA i REMIX Limited Edition Launches in Japan, Bringing New Design Elements to Heated Tobacco Devices
Philip Morris Japan (PM Japan) has introduced the IQOS ILUMA i REMIX Limited Edition series, including the IQOS ILUMA i Prime REMIX, IQOS ILUMA i REMIX and IQOS ILUMA i ONE REMIX devices. The limited-edition models were officially announced in Japan on June 9, 2026, and began a phased market rollout from June 10. Featuring gradient color designs and visual customization elements, the collection highlights PMI’s continued use of limited editions to enhance brand experience within its heated tobacco portfolio.
Innovation
Jul.21 by 2Firsts Perspectives
Shopify Requires Merchants to Remove All Vape Products by July 8, Reshaping Online Sales Channels
Shopify Requires Merchants to Remove All Vape Products by July 8, Reshaping Online Sales Channels
Shopify has instructed merchants using its web-hosting services to remove vape products from their online stores by July 8, 2026. The policy expands beyond illegal products and applies to all electronic nicotine delivery systems (ENDS), marking a broader shift in online platform oversight of nicotine sales.
Innovation
Jul.14 by 2Firsts Perspectives
Product | Philip Morris Korea Launches TEREA Limona Pearl, Expanding Fresh Blend Capsule Lineup to Five
Product | Philip Morris Korea Launches TEREA Limona Pearl, Expanding Fresh Blend Capsule Lineup to Five
Philip Morris Korea launched TEREA Limona Pearl in South Korea on August 31, 2026, expanding the TEREA Fresh Blend capsule tobacco stick lineup from four variants to five. Designed for the IQOS ILUMA series, the new stick combines a capsule with what the company calls a Fresh Filter. Philip Morris Korea describes the product as offering an aromatic, refreshing flavor profile with a cooling sensation, with an additional fresh note released when the capsule is crushed. The recommended retail price is KRW 4,800 per pack, with sales through IQOS stores and convenience stores nationwide. No reliable evidence has been found that the same Limona Pearl SKU was previously officially launched in another major IQOS market.
Sep.01
BAT’s Velo Study Finds 61% of Nicotine Users Feel More Comfortable Expressing Themselves When Others Do the Same
BAT’s Velo Study Finds 61% of Nicotine Users Feel More Comfortable Expressing Themselves When Others Do the Same
British American Tobacco’s (BAT) nicotine pouch brand Velo has released a global consumer study and launched its “Echoes of Tomorrowland” campaign with electronic music festival brand Tomorrowland. The research surveyed 2,009 nicotine users across the UK, Spain, Pakistan, Poland and Austria. Velo said 61% of respondents feel more comfortable expressing themselves when they see others doing the same, while 39% said building meaningful connections becomes harder with age. The campaign reflects how nicotine pouch brands are increasingly using music, communities and lifestyle marketing to build consumer engagement.
Aug.10
Hunan China Tobacco Industry files heated tobacco device patent featuring adult-user identification through pressure sensing
Hunan China Tobacco Industry files heated tobacco device patent featuring adult-user identification through pressure sensing
China-based Hunan China Tobacco Industry Co., Ltd. and Shenzhen Baisha Technology Co., Ltd. have filed a patent application covering an adult-user identification mechanism for heated tobacco devices. The patent proposes using flexible pressure sensors installed in the device grip area to collect pressure distribution patterns generated when users hold the device. The system evaluates factors including effective contact area, grip shape and contact duration, and combines roller movement detection to determine whether unlocking conditions are met. The filing reflects exploration of device-level user recognition and smarter interaction technologies for heated tobacco products (HTPs).
Aug.05