The e-cigarettes global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
E-Cigarettes Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The e-cigarettes market size has grown rapidly in recent years. It will grow from $25.11 billion in 2023 to $29.1 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to smoking cessation and harm reduction, vaping culture, flavor diversity, reduced secondhand smoke, marketing and advertising.
The e-cigarettes market size is expected to see rapid growth in the next few years. It will grow to $50.98 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to smoking alternatives, regulatory environment, smoking cessation aid, reduced health risks, flavor innovation. Major trends in the forecast period include flavor preferences, heat-not-burn technology, tobacco and cannabis integration, e-cigarette technology.
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Scope Of E-Cigarettes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
E-Cigarettes Market Overview
Market Drivers –
Rising awareness of health issues caused by smoking conventional tobacco cigarettes among the smoking population is driving the growth of the e-cigarette market. Conventional tobacco cigarettes release toxic compounds that adversely affect the health of the individual. The e-cigarettes are less toxic and safer compared to conventional tobacco cigarettes. For instance, the British American Tobacco company released the Vype iSwitch and Vype iSwitch Maxx based on Puretech blade technology, which involves using an ultra-slim stainless-steel blade to heat e-liquid and create vapor. The vapor products do not burn tobacco, the vapor contains significantly lower levels of toxicants than the smoke created when burning tobacco. Therefore, e-cigarettes have reduced risk properties compared to traditional cigarettes.
Market Trends —
An increasing number of mergers and acquisitions between traditional cigarette and e-cigarette manufacturers is trending in the e-cigarette market. Traditional cigarette manufacturing companies and e-cigarette manufacturers are collaborating for product development or to improve their presence in the global market. For instance, British American Tobacco PLC., (BAT) an American British multinational cigarette and tobacco manufacturing company, acquired Reynolds American Inc. for $49 billion. The acquisition favored BAT to have a stable presence in high-growth emerging markets and high-profitability developed markets. Reynolds American Inc. is an American tobacco company that manufactures tobacco products and e-cigarettes.
The e-cigarettes market covered in this report is segmented –
1) By Product Type: Disposable, Rechargable, Modular
2) By Composition Used: Tobacco, Flavors, Nicotine-free
3) By Distribution Channel: Specialist E-Cig Shops, Online, Supermarkets, Tobacconist, Other Distribution Channels
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Regional Insights —
Asia Pacific was the largest region in the e-cigarettes market in 2023. The regions covered in the e-cigarettes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies —
Major companies operating in the e-cigarettes market include Philip Morris International Inc., Altria Group Inc., British American Tobacco plc, Japan Tobacco Inc., Imperial Brands plc, Njoy Inc., International Vapor Group Inc., Reynolds American Inc., Kimree Inc., Innokin, Healthier Choices Management Corp., ITC Limited, J WELL, Nicotek LLC, NicQuid LLC, R.J. Reynolds Vapor Company, Shenzhen IVPS Technology Co. Ltd., Shenzhen KangerTech Technology Co. Ltd., Vapor Hub International Inc., KangerTech, Shoreditch, Ritchy Group, Vapouriz Limited, Apollo Electronic Cigarettes, Vape Emporium Limited, JUUL Labs Inc., Breeze Smoke LLC, Logic Technology Development LLC, V2 Cigs, Green Smoke LLC, White Cloud Electronic Cigarettes, VaporFi Inc., South Beach Smoke LLC, SmokeTip LLC
Table of Contents
1. Executive Summary
2. E-Cigarettes Market Report Structure
3. E-Cigarettes Market Trends And Strategies
4. E-Cigarettes Market — Macro Economic Scenario
5. E-Cigarettes Market Size And Growth
…..
27. E-Cigarettes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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