E-Cigarette Market Research Report: By Product (Cig-a-Like, Vaporizer, Vape Mod, T-Vapor), Gender (Male, Female), Age Group (16–24, 25–34, 35–44, 45–54, 55–65, 65+), Distribution channel (Vape Shop, Online, Hypermarket/Supermarket, Tobacconist) - Global Industry Analysis and Growth Forecast to 2030

Market Outlook

The e-cigarette market revenue stood at $15.7 billion in 2019, and it is projected to escalate at a CAGR of 9.2% during 2020–2030. This growth will be led by the easy availability and social acceptance of such vaping devices. Moreover, the projection of e-cigarettes as a safer alternative to conventional products will also facilitate the market growth.

The onset of COVID-19 has severely impacted the e-cigarette industry. The worldwide restrictions on trade have obstructed the supply of vaping products from China to the world. This has resulted in the shortage of e-cigarettes and numerous incidents of black marketing for these products in European and North American countries.

Vaporizers Adopted in Largest Numbers

The vaporizer category, under the product segment, accounted for the highest revenue in 2019. The wide usage of vaporizers can be owed to their dense aerosol production, low cost, and flexibility of the flavors that can be used with this product. A vaporizer named Juul has become quite popular, especially in the U.S.

Males Are Leading Users of E-Cigarettes

Within the gender segment, the male category held the larger share in 2019 due to the soaring popularity of such vaping products among young male customers. With a large number of male customers switching to e-cigarettes as a smoking cessation substitute, this category is expected to continue its e-cigarette market dominance in the future.

16–24 Age Group Is Major User of Vaping Devices

The 16–24 category of the age group segment generated the highest revenue in 2019. Vaping products, such as the JUUL device, have become an instant hit among the youth aged 16–24 years. Specifically, the soaring popularity of e-cigarettes with modular designs among this age group has become a key growth driver. Additionally, social media campaigns, such as #JUULing, have played a notable role in attracting young students.

Online Category To Display Fastest Growth

The online category of the distribution channel segment is expected to witness the fastest growth in the market for e-cigarettes during 2020–2030. The introduction of dedicated online portals for such products and the selling of vaping products on the existing online platforms have been a result of the growth of the e-commerce sector across the globe. Vaping product manufacturers are setting up new online business platforms, as they have few barriers associated with them and they are perceived to be the best platform to meet the user demand.

Europe Is Significant Contributor to Global Market

Europe is the leading user of e-cigarettes in the world, wherein France, Russia, and the U.K. are the major revenue generators in the regional e-cigarette market. The usage of e-cigarettes is accelerating among people who are former and current cigarette smokers and those who plan to quit tobacco smoking.

North America To Witness Rapid Growth

The North American region is observing rapid industry growth due to the existence of an umpteen number of e-cigarette users. The surging adoption of such vaping products among the youth of the U.S. is a major driver for the regional market. For instance, in 2019, North America had nearly 14 million e-cigarette users. Further, the dipping popularity of tobacco smoking will capture more customers for the players in the market for e-cigarettes in the region.

Expanding Flavor Portfolio Is Key Market Trend

Flavor and fragrance vendors are introducing several new flavors to lure in more customers and manufacturers of vaping products. Different flavors, such as bubble gum, cola, methanol, chocolate, mint, and fusions of fruits and other flavoring items, are attracting a considerable number of people to adopt e-cigarettes. Users in North America and Europe, primarily in Canada, the U.S., and the U.K., are prominently displaying the shift toward flavored e-cigarettes. Therefore, with the soaring popularity of flavors in the e-cigarette market, a large number of flavors are being launched by these vendors.

Easy Availability of E-Cigarettes on Numerous Distribution Channels Driving Market Growth

Manufacturers of vaping devices are promoting and selling their products through kiosks and dedicated in-store hubs at larger retail outlets and grocery shops. E-cigarette providers are also setting up their stores and outlets to offer a vaping experience similar to that offered at a club. Traditional smokers are more inclined toward these stores, as they can get a variety of flavors and better vaping devices at these places. Such designated stores and outlets are expanding the consumer base for the individual providers of vaping products, thereby fueling the growth of the market.

Social Acceptance Boosting E-Cigarettes Demand

The soaring awareness regarding environmental and human health is one of the key factors fueling the e-cigarette market advance. The growing consciousness has inspired governments to work toward creating a greener and more-sustainable environment and take several steps to put a complete ban on smoking at specific places. This is compelling smokers to move outside the restricted spaces, which has resulted in a high demand for vaping products that do not emit tobacco smoke and can offer the same sensation as conventional cigarettes.

Product Launches: Key Tool Adopted by E-Cigarette Manufacturers to Drive Success

Product launches have been a key area of focus for e-cigarette manufacturers to attract more customers. For instance:

• In March 2019, Japan Tobacco Inc. launched two new flavors of tobacco capsules, Pianissimo Pineapple Peach Yellow Cooler and Pianissimo Aria Menthol, for the Ploom TECH brand. With the launch of these two new flavors, the company now offers 10 different flavors for its Ploom TECH brand.
• In January 2019, Japan Tobacco Inc. launched two new tobacco vapor products: Ploom TECH +, a low-temperature tobacco vapor product, and Ploom S, a high-temperature tobacco vapor product, under its Ploom brand. Both the new products are claimed to produce much less odor and lead to a significant reduction in the concentration of measured constituents, as compared to conventional cigarette smoke.

Some of the Players Listed in the E-Cigarette Market Report Are:

E-Cigarette Market Size Breakdown by Segment

The e-cigarette market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Product

• Cig-a-Like
  • Disposable
  • Rechargeable
• Vaporizer
  • Open tank
  • Closed system
• Vape Mod
• T-Vapor
  • Heat-not-burn
  • Infused

Based on Gender

• Male
• Female

Based on Age Group

• 16–24
• 25–34
• 35–44
• 45–54
• 55–65
• 65+

Based on Distribution channel

• Vape Shop
• Online
• Hypermarket/Supermarket
• Tobacconist

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Russia
  • Italy
  • Netherlands
• Asia-Pacific (APAC)
  • China
  • Japan
  • Australia
  • South Korea
• Rest of the World (RoW)
  • South Africa
  • Kenya