The Growing Global Market for E-Cigarettes

Nov.24.2022
The Growing Global Market for E-Cigarettes
The increasing social acceptance and demand for tobacco alternatives are expected to drive the e-cigarette market's 9.2% compound annual growth rate.

Several factors, such as the increasing social acceptance of electronic cigarettes, the continuous improvement of electronic cigarette devices, the surging demand for tobacco cigarette alternatives, rapid technological advancements, and ongoing product innovation, are expected to drive the development of the electronic cigarette market, with a projected compound annual growth rate of 9.2% for the forecast period of 2020-2030. According to data from P&S Intelligence, market revenues are expected to increase from $15.7 billion in 2019 to $39 billion by 2030. In recent years, the expanding range of flavors has become a major market trend.


Today, the increasing acceptance of electronic cigarettes is driving demand for their products, as they do not release toxic substances. Because tobacco-based cigarettes emit smoke, some governments have taken multiple measures to ban smoking in certain public places. Through these bans, governments aim to create a greener and more sustainable environment. Additionally, increasing public awareness of environmental and human health concerns is likely to drive global demand for electronic cigarettes.


In addition, the widespread availability of e-cigarettes through various distribution channels is expected to fuel global growth in the e-cigarette market. Currently, e-cigarette manufacturers sell and promote their products through dedicated stores, kiosks in grocery and retail stores, and outlet centers that offer e-cigarette experiences similar to those of clubs. These stores are seeing an influx of traditional smokers who can use a variety of flavors and e-cigarette products. The e-cigarette market is segmented by age group: 16-24, 25-34, 35-44, 45-54, 55-65, and 65+. In this market, the 16-24 age group had the largest market share in 2019, as modular e-cigarettes designed for young people became popular. Market participants are designing social media campaigns, such as #JUULing, to target this tech-savvy demographic. Currently, e-cigarette market participants are focused on product launches to stay ahead of competitors. For example, in March 2019, Japan Tobacco Inc. released two new flavors of tobacco capsules for its Ploom TECH brand: Pianissimo Aria Menthol and Pianissimo Pineapple Peach Yellow Cooler. Other market participants tracking these strategic moves include British American Tobacco, MCIG Inc., FIN Branding Group LLC, MadVapes LLC, Philip Morris International Inc., Shenzhen iSmoka Electronics Co. Ltd., Altria Group Inc., Smoker Friendly International LLC, and Innokin Technology Co. Ltd.


According to regional analysis, Europe held the largest share of the e-cigarette market in 2019, with the UK, Netherlands, Germany, Spain and Italy generating the highest revenue. This can be attributed to the increasing popularity of e-cigarette shop culture in the region. Looking ahead, the North American market is expected to experience rapid growth due to declining popularity of traditional cigarettes and the increasing prevalence of e-cigarette products among young Americans. This is expected to drive market growth.


Statement:


This article is compiled from third-party information for industry communication and learning purposes only.


The views expressed in this article do not reflect the opinions of 2FIRSTS and we are unable to confirm the accuracy and authenticity of its content. This article has been compiled for the sole purpose of industry discussion and research.


Due to limitations in translation abilities, the translated article may not accurately convey the same expression as the original text. Therefore, please refer to the original text for accuracy.


2FIRSTS is fully in line with the Chinese government's statements and positions on any domestic, Hong Kong, Macao, Taiwan, or international issues.


The compilation of information is the property of the original media and author. If there is any infringement, please contact us to request removal.


This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

BBC Undercover Investigation: Nearly Half of Shops Still Selling Disposable Vapes Two Weeks After Ban
BBC Undercover Investigation: Nearly Half of Shops Still Selling Disposable Vapes Two Weeks After Ban
The UK banned disposable vapes from June 1, but a BBC undercover report found nearly half of 21 shops in Yorkshire still selling them. Some retailers knowingly continued sales to clear stock, despite the ban.
Jun.12 by 2FIRSTS.ai
Controversy over Terengganu vape ban in Malaysia: Association challenges legality and urges postponement
Controversy over Terengganu vape ban in Malaysia: Association challenges legality and urges postponement
Terengganu, Malaysia will implement a vape sales ban starting August 1, raising concerns from the Terengganu branch of the Malaysia Vape Chamber of Commerce, which warned the move could cause traders losses of up to USD 1.15 million per month and questioned the legality of the ban.
Apr.28 by 2FIRSTS.ai
KT&G Supplier ITM Semiconductor Posts $20M in Q1 2025 Heated Tobacco Sales, Up 5.6% YoY
KT&G Supplier ITM Semiconductor Posts $20M in Q1 2025 Heated Tobacco Sales, Up 5.6% YoY
KT&G’s supplier, ITM Semiconductor, posted $20 million in heated tobacco sales in the first quarter of 2025, up 5.6% from a year earlier and accounting for one-fifth of total revenue. Buoyed by rising demand for the Lil Hybrid 3.0 device, the firm plans to expand production capacity at its plants in South Korea and Vietnam.
May.23 by 2FIRSTS.ai
Indonesia to Cap Cigarette Nicotine and Tar, Starting June 2026
Indonesia to Cap Cigarette Nicotine and Tar, Starting June 2026
Indonesia to cap cigarette nicotine and tar by June 2025, with rules taking effect in June 2026 to cut youth smoking. Measures include banning single-cigarette sales, restricting sales and ads near schools, and enhancing health warnings on packaging.
Apr.30 by 2FIRSTS.ai
Lib Dem MPs call for tax cuts on heated tobacco products
Lib Dem MPs call for tax cuts on heated tobacco products
LDP lawmaker Tanaka calls for tax breaks on heated tobacco products, government remains skeptical on harm reduction benefits.
Apr.17 by 2FIRSTS.ai
Poland to Ban Disposable E-Cigs and Flavored Nicotine Pouches
Poland to Ban Disposable E-Cigs and Flavored Nicotine Pouches
Poland's Ministry of Health plans to ban disposable e-cigarettes and flavored nicotine pouches, and prohibit e-cigarette sales to anyone under 18. The draft has been approved by the government's legislative group and backed unanimously by the parliamentary health committee.
May.08 by 2FIRSTS.ai