Global E-Cigarettes (Vaping) Market Forecast To 2023
The global vaporizers, e-cigarettes, and other electronic nicotine delivery systems (ends) market is expected to grow from $11.1 billion in 2019 to $12.6 billion in 2020 at a compound annual growth rate (CAGR) of 13.1%. The consumption pattern in e-cigarettes market has been rapidly shifting due to the COVID-19 outbreak. The majority of the consumers intended to either maintaining or increasing their purchase of e-cigarettes. The market is then expected to recover and grow at a CAGR of 25.2% from 2021 and reach $23.9 billion in 2023. Growing awareness about the alternatives to tobacco smoking is driving the market for e-cigarettes. However, the side effects of using e-cigarettes, including nausea, vomiting, abdominal pain, itchiness, dry eyes, cough and nosebleeds, are discouraging the use of e-cigarettes affecting growth of the market.
An e-cigarette is an electronic device that simulates cigarette smoking without combustion of tobacco.
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The global e-cigarettes (vaping) market is further segmented based on type and geography.
By Product: Disposable, Rechargeable, Modular Devices
By Distribution Channel: Vape Shops, Online Supermarkets, Tobacconists, Others.
By Geography: The global e-cigarettes (vaping) market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American e-cigarettes (vaping) market accounts for the largest share in the global e-cigarettes (vaping) market.
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Trends In The E-Cigarettes (Vaping) Market
Manufacturers of e-cigarettes are increasingly investing in the development of new types of coils for atomizers. An atomizer in an e-cigarette or vaping device is used to vaporize the e-liquid. Many manufacturers have developed atomizers that use nickel and titanium wires that can be coupled with high wattage. The use of nickel and titanium wires produces thicker and dense smoke, and the higher electrical and thermal conductivities of the wires make the coil last longer. Nickel and titanium are also being coupled with other alloys to improve vaping experience.
E-Cigarettes (Vaping) Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides e-cigarettes (vaping) market overviews, analyzes and forecasts e-cigarettes (vaping) market size and growth for the global e-cigarettes (vaping) market, e-cigarettes (vaping) market share, e-cigarettes (vaping) market players, e-cigarettes (vaping) market size, e-cigarettes (vaping) market segments and geographies, e-cigarettes (vaping) market trends, e-cigarettes (vaping) market drivers and e-cigarettes (vaping) market restraints, e-cigarettes (vaping) market’s leading competitors’ revenues, profiles and market shares. The e-cigarettes (vaping) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.