Report Code: CMI42088

Published Date: March 2024

Pages: 320+

Category: Consumer Goods

Report Snapshot

CAGR: 4.5%
25.5B
2022
27.8B
2023
66.2B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Juul Labs Inc.
  • British American Tobacco plc
  • Japan Tobacco International
  • Philip Morris International Inc.
  • Altria Group Inc.
  • Others

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Reports Description

Global E-Cigarette and Vape Market was valued at USD 27.8 Billion in 2023 and is expected to reach USD 66.2 Billion by 2032, at a CAGR of 4.5% during the forecast period 2023 – 2032.

An e-cigarette, short for electronic cigarette, is a battery-powered device that simulates the experience of smoking tobacco by producing an aerosol (commonly referred to as vapor) that is inhaled by the user. It typically consists of a heating element (atomizer), a power source (battery), and a cartridge or tank containing a liquid solution (e-liquid) composed of nicotine, flavourings, and other chemicals.

E-Cigarette and Vape Market: Growth Factors

Increasing demand for controlling temperature and nicotine dosing

Controlling temperature and nicotine dosing plays a crucial role in shaping the e-cigarette and vape market. Temperature control technology allows users to customize their vaping experience by adjusting the heat applied to the e-liquid, resulting in different flavours, vapor production, and throat hits.

This feature appeals to experienced vapers seeking precise control over their vaping experience and flavour preferences. Similarly, nicotine dosing mechanisms enable users to regulate the amount of nicotine consumed, catering to a wide range of preferences from heavy smokers looking to quit to casual users seeking a mild nicotine experience or nicotine-free options.

This flexibility in nicotine dosing addresses varying user needs, preferences, and nicotine dependency levels, thereby expanding the market appeal of e-cigarettes and vapes to a broader audience.

Overall, advancements in temperature control and nicotine dosing technologies drive innovation, product differentiation, and market growth in the e-cigarette and vape industry, attracting both new and existing users.

Increasing cost-effectiveness of these devices raised consumer acceptance

The increasing cost-effectiveness of e-cigarettes and vaping devices has played a significant role in driving consumer acceptance and fuelling growth in the market. As technology has advanced and production processes have become more efficient, the prices of e-cigarettes and vaping products have decreased, making them more affordable and accessible to a broader range of consumers.

This affordability has attracted both existing smokers looking for a cheaper alternative to traditional cigarettes and new users curious about vaping.

Additionally, the lower long-term costs associated with vaping compared to smoking traditional cigarettes have contributed to consumer acceptance. Vaping devices are often seen as a cost-effective option because they can be reused, and the cost of e-liquid refills is typically lower than purchasing packs of traditional cigarettes over time.

Overall, the increasing cost-effectiveness of e-cigarettes and vaping devices has helped to drive consumer acceptance and expand the market by making these products more financially accessible and appealing to a wider audience.

For instance, research published in the journal Tobacco Control indicates that the use of electronic (e) cigarettes in the USA is associated with significantly increased healthcare costs and a surplus utilization of healthcare services, amounting to an estimated annual healthcare spending of $15 billion.

E-Cigarette and Vape Market: Restraints

Restrictions on the sale of vaping supplies by local authorities

Restrictions on the sale of vaping supplies by local authorities can significantly hinder the e-cigarette and vape market in several ways. Firstly, such restrictions limit the accessibility of vaping products to consumers, reducing the potential customer base and overall demand.

This can particularly impact small businesses and vape shops, leading to decreased revenue and potentially forcing some to close down.

Moreover, restrictions on sales may create uncertainty and confusion among consumers, discouraging them from adopting vaping as an alternative to traditional smoking.

Additionally, limitations on advertising and marketing imposed by local authorities can further impede market growth by restricting manufacturers’ ability to promote their products effectively.

Overall, these restrictions create barriers to entry and expansion within the e-cigarette and vape market, stifling innovation, investment, and competition. As a result, the market’s growth potential may be constrained, and the adoption of vaping as a harm reduction tool for smokers could be hindered.

Global E-Cigarette and Vape Market 2023–2032 (By Category)

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E-Cigarette and Vape Market: Opportunities

Growing e-cigarette technologies such as pod systems and squonk mods

Growing e-cigarette technologies such as pod systems and squonk mods are significant drivers of the e-cigarette and vape market due to their innovation and versatility. Pod systems offer users a convenient and portable vaping experience with pre-filled or refillable pods, appealing to both beginners and experienced vapers.

They often feature sleek designs and user-friendly operations, making them popular among those seeking simplicity and discretion. Squonk mods, on the other hand, cater to advanced users by offering a customizable vaping experience with rebuildable atomizers and large e-liquid reservoirs integrated into the device.

This allows for easier dripping of e-liquid directly onto the coils, reducing the need for frequent refills. Both pod systems and squonk mods drive market growth by expanding the appeal of vaping to a wider audience, driving innovation, and meeting the diverse preferences of consumers in terms of convenience, performance, and customization.

For instance, physicians and scientists have examined the health implications of nicotine-based alternatives to cigarettes, and recent research provides substantial evidence indicating that (pod) e-cigarettes pose less harm to health compared to traditional cigarettes.

Global E-Cigarette and Vape Market 2023–2032 (By Distribution Channel)

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E-Cigarette and Vape Market: Segmentation Analysis

E-Cigarette and Vape markets are segmented by product, distribution channel and region.  Based on the product, the market is classified as disposable and rechargeable. Rechargeable dominated the market in 2022 with a market share of 60% and is expected to keep its dominance during the forecast period 2024-2032.

Rechargeable products play a pivotal role in driving the e-cigarette and vape market by offering convenience, cost-effectiveness, and sustainability to consumers. Unlike disposable options, rechargeable e-cigarette devices and vape pens can be reused multiple times by simply recharging the battery.

This not only reduces the need for frequent replacements but also provides users with greater flexibility and control over their vaping experience. Rechargeable devices often feature adjustable settings, allowing users to customize factors such as temperature and airflow to suit their preferences.

Additionally, the availability of rechargeable options encourages environmentally conscious consumers to opt for more sustainable alternatives compared to single-use disposable products, thereby reducing waste. Overall, the versatility, longevity, and eco-friendly nature of rechargeable e-cigarette and vape products contribute significantly to their popularity and market growth.

Based on distribution channels, the market is classified into retail stores and online. The retail stores segment dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.

Retail stores play a significant role in driving the e-cigarette and vape market through various means. Firstly, they provide a physical space where consumers can explore and purchase a wide range of e-cigarette devices, vape mods, e-liquids, and accessories, thereby increasing accessibility to these products.

Retail stores often offer personalized customer service, allowing staff to educate consumers about different products and flavours, which can help attract new users and retain existing customers. Additionally, retail displays and promotions can influence purchasing decisions, as visually appealing storefronts and strategic placement of products can attract attention and stimulate impulse purchases.

Furthermore, retail stores often serve as community hubs for vaping enthusiasts, hosting events, workshops, and gatherings, which foster brand loyalty and create a sense of belonging within the vaping community. Overall, retail stores play a crucial role in driving awareness, accessibility, and engagement within the e-cigarette and vape market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 27.8 Billion
Projected Market Size in 2032 USD 66.2 Billion
Market Size in 2022 USD 25.5 Billion
CAGR Growth Rate 4.5% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Product, Distribution Channel and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

E-Cigarette and Vape Market: Regional Analysis

By region, E-Cigarette and Vape market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global E-Cigarette and Vape market in 2022 with a market share of 40% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

North America propels the e-cigarette and vape market through several factors. Firstly, the region is characterized by a large consumer base with a significant proportion of smokers looking for alternatives to traditional tobacco products.

The United States, in particular, has seen substantial growth in vaping due to factors such as accessibility, marketing strategies, and a culture of innovation. Additionally, North America is home to several prominent e-cigarette and vape companies, driving product development and market expansion.

Regulatory frameworks in the region have also played a role, with varying degrees of regulation across different states and provinces influencing market dynamics. Furthermore, the prevalence of e-commerce platforms facilitates easy access to vaping products.

However, increasing concerns about the health impacts of vaping, particularly among youth, have prompted regulatory scrutiny and public health campaigns, which could shape the future trajectory of the market.

Global E-Cigarette and Vape Market 2023–2032 (By Billion)

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E-Cigarette and Vape Market: Recent Developments

  • In June 2023, Altria divested its proprietary e-cigarette brand to JUUL Labs and ceased production of its e-cigarette line to prioritize the pursuit of more compelling reduced-risk tobacco product opportunities.
  • In January 2022, British American Tobacco introduced an atomizer, which is the component responsible for producing vapor. It typically comprises a small electric heater paired with an absorbent wick made from materials like glass fiber, cotton, or ceramic.
  • In June 2023, Imperial Brands plc announced its acquisition of nicotine pouches from TJP Labs, marking its entry into the U.S. oral market. This strategic move empowers ITG Brands, the company’s U.S. arm, to introduce 14 distinct product variants housed in a pouch format that has shown strong performance in consumer trials.

 List of the prominent players in the E-Cigarette and Vape Market:

  • Juul Labs Inc.
  • British American Tobacco plc
  • Japan Tobacco International
  • Philip Morris International Inc.
  • Altria Group Inc.
  • Imperial Brands plc
  • Reynolds American Inc.
  • Fontem Ventures
  • NJOY LLC
  • VMR Products LLC
  • Logic Technology Development LLC
  • Lorillard Inc.
  • Shenzhen IVPS Technology Co. Ltd.
  • Innokin Technology Co. Ltd.
  • Joyetech Co. Ltd.
  • Vaporesso
  • Aspire
  • KangerTech
  • Suorin
  • GeekVape
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The E-Cigarette and Vape Market is segmented as follows:

By Product

  • Disposable
  • Rechargeable
  • Modular Devices

By Distribution Channel

  • Retail Stores
    • Convenience Store
    • Drug Store
    • Newsstand
    • Tobacconist Store
    • Specialty E-cigarette Store
  • Online

By Category 

  • Open
  • Closed

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global E-Cigarette and Vape Market, (2024 – 2033) (USD Billion)
    • 2.2 Global E-Cigarette and Vape Market : snapshot
  • Chapter 3. Global E-Cigarette and Vape Market – Industry Analysis
    • 3.1 E-Cigarette and Vape Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing demand for controlling temperature and nicotine dosing
      • 3.2.2 Increasing cost-effectiveness of these devices raised consumer acceptance
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Product
      • 3.7.2 Market attractiveness analysis By Distribution Channel
  • Chapter 4. Global E-Cigarette and Vape Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global E-Cigarette and Vape Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global E-Cigarette and Vape Market – Product Analysis
    • 5.1 Global E-Cigarette and Vape Market overview: By Product
      • 5.1.1 Global E-Cigarette and Vape Market share, By Product, 2022 and – 2033
    • 5.2 Disposable
      • 5.2.1 Global E-Cigarette and Vape Market by Disposable, 2024 – 2033 (USD Billion)
    • 5.3 Rechargeable
      • 5.3.1 Global E-Cigarette and Vape Market by Rechargeable, 2024 – 2033 (USD Billion)
  • Chapter 6. Global E-Cigarette and Vape Market – Distribution Channel Analysis
    • 6.1 Global E-Cigarette and Vape Market overview: By Distribution Channel
      • 6.1.1 Global E-Cigarette and Vape Market share, By Distribution Channel, 2022 and – 2033
    • 6.2 Retail Stores
      • 6.2.1 Global E-Cigarette and Vape Market by Retail Stores, 2024 – 2033 (USD Billion)
    • 6.3 Online
      • 6.3.1 Global E-Cigarette and Vape Market by Online, 2024 – 2033 (USD Billion)
  • Chapter 7. E-Cigarette and Vape Market – Regional Analysis
    • 7.1 Global E-Cigarette and Vape Market Regional Overview
    • 7.2 Global E-Cigarette and Vape Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America E-Cigarette and Vape Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America E-Cigarette and Vape Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America E-Cigarette and Vape Market, by Product, 2024 – 2033
      • 7.4.1 North America E-Cigarette and Vape Market, by Product, 2024 – 2033 (USD Billion)
    • 7.5 North America E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033
      • 7.5.1 North America E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe E-Cigarette and Vape Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe E-Cigarette and Vape Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe E-Cigarette and Vape Market, by Product, 2024 – 2033
      • 7.7.1 Europe E-Cigarette and Vape Market, by Product, 2024 – 2033 (USD Billion)
    • 7.8 Europe E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033
      • 7.8.1 Europe E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific E-Cigarette and Vape Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific E-Cigarette and Vape Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific E-Cigarette and Vape Market, by Product, 2024 – 2033
      • 7.10.1 Asia Pacific E-Cigarette and Vape Market, by Product, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033
      • 7.11.1 Asia Pacific E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America E-Cigarette and Vape Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America E-Cigarette and Vape Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America E-Cigarette and Vape Market, by Product, 2024 – 2033
      • 7.13.1 Latin America E-Cigarette and Vape Market, by Product, 2024 – 2033 (USD Billion)
    • 7.14 Latin America E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033
      • 7.14.1 Latin America E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa E-Cigarette and Vape Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa E-Cigarette and Vape Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa E-Cigarette and Vape Market, by Product, 2024 – 2033
      • 7.16.1 The Middle-East and Africa E-Cigarette and Vape Market, by Product, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033
      • 7.17.1 The Middle-East and Africa E-Cigarette and Vape Market, by Distribution Channel, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Juul Labs Inc.
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 British American Tobacco plc
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Japan Tobacco International
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Philip Morris International Inc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Altria Group Inc.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Imperial Brands plc
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Reynolds American Inc.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Fontem Ventures
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 NJOY LLC
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 VMR Products LLC
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Logic Technology Development LLC
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Lorillard Inc.
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Shenzhen IVPS Technology Co. Ltd.
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 Innokin Technology Co. Ltd.
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 Joyetech Co. Ltd.
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Vaporesso
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Aspire
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 KangerTech
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Suorin
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 GeekVape
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures No 1 to 18

List Of Tables

Tables N0 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Juul Labs Inc.
  • British American Tobacco plc
  • Japan Tobacco International
  • Philip Morris International Inc.
  • Altria Group Inc.
  • Imperial Brands plc
  • Reynolds American Inc.
  • Fontem Ventures
  • NJOY LLC
  • VMR Products LLC
  • Logic Technology Development LLC
  • Lorillard Inc.
  • Shenzhen IVPS Technology Co. Ltd.
  • Innokin Technology Co. Ltd.
  • Joyetech Co. Ltd.
  • Vaporesso
  • Aspire
  • KangerTech
  • Suorin
  • GeekVape
  • Others

FAQs

The restraints of the E-Cigarette and Vape market is restrictions on the sale of vaping supplies by local authorities.

The major driver for the E-Cigarette and Vape market is increasing demand for controlling temperature and nicotine dosing and increasing cost-effectiveness of these devices raised consumer acceptance.

The “Disposable” category dominated the market in 2022.

The key players in the market are Juul Labs Inc., British American Tobacco plc, Japan Tobacco International, Philip Morris International Inc., Altria Group Inc., Imperial Brands plc, Reynolds American Inc., Fontem Ventures, NJOY LLC, VMR Products LLC , Logic Technology Development LLC, Lorillard Inc., Shenzhen IVPS Technology Co. Ltd., Innokin Technology Co. Ltd., Joyetech Co. Ltd., Vaporesso, Aspire, KangerTech, Suorin, GeekVape, Others.

“North America” had the largest share in the E-Cigarette and Vape Market.

The global market is projected to grow at a CAGR of 4.5% during the forecast period, 2023-2032.

The E-Cigarette and Vape Market size was valued at USD 27.8 Billion in 2023.

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