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.



Disclaimer

This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.

Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.

The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.

This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.

 

Copyright Notice

This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.

No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.

For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.

 

AI-Assisted Translation and Editing Notice

Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.

Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.

Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
Nicotine analogues such as 6-methylnicotine are already appearing in e-cigarettes and oral pouches, even as key human evidence remains limited. A new Nixodine-S study adds nonclinical data showing differences from nicotine in cytotoxicity and receptor activity, while independent studies point to a more complex toxicological picture. With supply-chain activity growing and FDA seeking clearer authority over nicotine analogues, the industry now faces a larger question: what evidence is needed before these substances can credibly replace nicotine?
SCIENCE
Sep.23
China’s HTP Exports Fell 14.3% in H1 2026 as Russia and Belarus Accounted for 76% Lead
China’s HTP Exports Fell 14.3% in H1 2026 as Russia and Belarus Accounted for 76% Lead
In H1 2026, China’s HS 24041100 exports stood at $1.32 million, down 14.3% YoY, with volume falling 17.2% to 55.33 tons. Market distribution shifted drastically amid overall export drops. Exports to Russia and Belarus totaled $1 million, taking 76.0% of all shipments versus 29.5% in H1 2025. Belarus became the top destination with export value jumping 177.5%, while the Philippines, Singapore and Indonesia’s combined share slumped from 49.3% to 11.2%.Domestically, Yunnan led exporter registrations; Jiangsu and Shanghai were key suppliers, yet Anhui and Sichuan had no exports. Heavy concentration means order or declaration changes for Russia/Belarus greatly affect national aggregate data. The data shows customs entry points (not end markets), covering tobacco consumables only, excluding heating equipment and the complete HTP supply chain.
Aug.11
From a 2017 Launch to 48% of South Korea’s Heated Tobacco Market, KT&G Looks Back on a Decade of lil
From a 2017 Launch to 48% of South Korea’s Heated Tobacco Market, KT&G Looks Back on a Decade of lil
KT&G announced on Aug. 13, 2026, that it has opened “lil Archive,” a brand exhibition space in Seoul showcasing the evolution, technology platforms and future direction of its heated tobacco brand lil since its launch in 2017. KT&G said lil now spans three major platforms — lil SOLID, lil HYBRID and lil AIBLE — with more than 30 dedicated consumables, and held a 48% share of South Korea's heated tobacco market in the second quarter of 2026. The opening comes as lil enters its 10th year, with KT&G continuing to position the brand for expansion beyond its domestic market.
Aug.14
UAE Sets Dh1-Per-ml Minimum Excise Price for Vape Liquids From Sept. 1 While Keeping 100% Tax Rate
UAE Sets Dh1-Per-ml Minimum Excise Price for Vape Liquids From Sept. 1 While Keeping 100% Tax Rate
The UAE Ministry of Finance will introduce a minimum excise price for e-liquids used in vaping and electronic smoking devices from September 1, 2026. The minimum excise price will be set at AED 1 per millilitre. The existing 100% excise tax rate will continue to apply to tobacco and electronic smoking products. The measure changes the minimum taxable base rather than the tax rate, with the UAE government saying it aims to establish unified tax standards, improve market compliance and prevent pricing loopholes.
Regulations
Aug.07 by 2Firsts Perspectives
Inside Nicotine-Pouch M&A Through Imperial's Yoik Deal: Latham, KPMG, PwC, Goldman Sachs and Morgan Stanley Form the Adviser Lineup
Inside Nicotine-Pouch M&A Through Imperial's Yoik Deal: Latham, KPMG, PwC, Goldman Sachs and Morgan Stanley Form the Adviser Lineup
Imperial Brands' acquisition of Swedish Helwit owner Yoik Group AB has highlighted the professional-services firms supporting cross-border oral nicotine M&A. Latham & Watkins and KPMG advised Imperial, while PwC and TM & Partners advised Yoik. KPMG also appeared on Imperial's acquisition of Black Buffalo earlier in 2026, while PwC played an extensive role in KT&G's acquisition of Swedish nicotine-pouch company Another Snus Factory. Imperial's public disclosures put the global modern oral nicotine delivery market at approximately £8.8 billion in retail sales and 23.5 billion pouches in 2024
Sep.20
PMI's IQOS Extends ZAMNA Electronic-Music Partnership to Spain as Vogue España Publishes Branded Content
PMI's IQOS Extends ZAMNA Electronic-Music Partnership to Spain as Vogue España Publishes Branded Content
Philip Morris International's IQOS has extended its partnership with electronic-music event brand ZAMNA to Spain, setting up a House of IQOS at ZAMNA Madrid. Vogue España and Time Out Madrid subsequently published branded content clearly labeled as collaborations with IQOS. PMI has also expanded its company-owned IQOS boutique network in Spain to seven cities this year. The company says IQOS's adjusted heated-tobacco market share in Europe reached 12.6% in the first quarter of 2026, with Spain among its stronger-performing European markets.
Sep.20