The Business Research Company’s report on the E-Cigarette And Vape Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the e-cigarette and vape market?
The rising use of safe alternatives to smoking is expected to propel the growth of the e-cigarette and vape market going forward. Safe alternatives to smoking refer to products or methods, such as e-cigarettes or nicotine replacement therapies, that provide a less harmful way to consume nicotine without the harmful effects of traditional smoking. The demand for safe smoking alternatives is increasing due to growing health awareness and stricter regulations on traditional tobacco products. E-cigarettes and vapes are considered safer alternatives to smoking as they eliminate combustion, reducing exposure to harmful tar and toxic chemicals found in traditional cigarettes. For instance, in October 2024, Truth Initiative, a US-based non-profit organization focused on tobacco prevention, reported that adult e-cigarette use increased from 4.5% in 2021 to 6% in 2022. Therefore, the rising use of safe alternatives to smoking is driving the growth of the e-cigarette and vape market.
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How has the e-cigarette and vape market size evolved, and what are the latest forecasts for its expansion?
The e-cigarette and vape market size has grown rapidly in recent years. It will grow from $27.75 billion in 2024 to $33.16 billion in 2025 at a compound annual growth rate (CAGR) of 19.5%. The growth in the historic period can be attributed to growing adoption of e-cigarettes, rising health concerns, increasing social acceptance and perception of e-cigarettes, and growing adoption of e-cigar and vape items.
The e-cigarette and vape market size is expected to see rapid growth in the next few years. It will grow to $67.11 billion in 2029 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to increasing urbanization, growth of internet retailers, demand for high-quality batteries, rising disposable incomes, and growing popularity of e-cigarettes among the youth. Major trends in the forecast period include shift towards alternative nicotine delivery systems, innovations in vaping devices, advancements in e-cigarettes, and innovation in product formulations.
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Which major companies dominate the e-cigarette and vape market?
Major companies operating in the e-cigarette and vape market are Imperial Brands PLC, Philip Morris International, British American Tobacco, Altria Group Inc., Juul Labs Inc., Sigelei, Innokin Technology, Wismec, Pax Labs, Hangsen, Suorin, Vaporesso, VaporTech LLC, Aspire, Sourcemore, Eleaf, SmokTech, GeekVape, Joyetech, Vapeonly, KangerTech, Yihi, Linx Vapor, CigGo.
What trends will shape the future of the early toxicity testing market?
Major companies operating in the e-cigarettes and vapes market are developing innovative offerings, such as reusable vape devices, to meet the growing demand for more sustainable and long-lasting alternatives to traditional disposable vapes. Reusable vape devices are electronic cigarettes designed for long-term use, featuring rechargeable batteries and refillable e-liquid tanks, allowing users to replace or refill the pods or tanks for multiple uses. For instance, in August 2024, Lost Mary, a UK-based vape products manufacturing company, launched the BM6000 in the UK market. The BM6000 is a rechargeable and reusable vape device that comes equipped with a battery display and an e-liquid level window. Designed by Lost Mary, the device is engineered to provide up to 6,000 puffs, catering to the increasing demand from adult smokers and ex-smokers for vapes with higher puff counts. Unlike disposable vapes, the BM6000 features a closed system that uses prefilled pods. It includes a 2 ml pod integrated with a 10 ml e-liquid container for automatic refills, making it last up to ten times longer than traditional single-use vapes.
Which region dominates the e-cigarette and vape market, and what factors contribute to its leadership?
North America was the largest region in the e-cigarette and vape market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-cigarette and vape market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the e-cigarette and vape market segmented, and which segment holds the largest share?
The e-cigarette and vape market covered in this report is segmented –
1) By Product: Disposable, Rechargeable, Modular Devices
2) By Category: Open, Closed
3) By Flavor: Tobacco, Fruit, Beverage, Sweet, Other Flavors
4) By Distribution Channel: Online, Retail
Subsegments:
1) By Disposable: Single-Use E-cigarettes, Pre-Filled Pod Systems, Puff-Based Devices
2) By Rechargeable: Rechargeable Cig-a-Likes, Rechargeable Pod Systems, Open Tank Systems
3) By Modular Devices: Mechanical Mods, Regulated Mods, Squonk Mods
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How is the e-cigarette and vape market defined?
E-cigarettes and vapes are electronic devices that allow users to inhale a vaporized liquid, known as e-liquid or vape juice, which contains nicotine, flavorings, and other chemicals. These devices work by heating the liquid into an aerosol that can be inhaled, providing an alternative to traditional smoking. E-cigarettes and vapes are marketed as a safer option for those seeking to quit smoking, as they do not involve combustion.
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