Global E-Cigarettes Market Report 2024

ECigarettes Global Market Report 2023 – By Product Type (Disposable, Rechargable, Modular), By Composition Used (Tobacco, Flavors, Nicotinefree), By Distribution Channel (Specialist ECig Shops, Online, Supermarkets, Tobacconist, Other Distribution Channels) – Market Size, Trends, And Global Forecast 2023-2032

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E-Cigarettes Market

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An e-cigarette is a handheld battery-operated electronic device that contains a solution of nicotine, glycerine, and flavorings which turns into a mist that can be inhaled by the user. These are available in various flavors such as mint, menthol, and chocolate.

The main product types of e-cigarettes are Disposable, Rechargeable, and Modular. A disposable product is intended to be thrown away after use. The composition used is tobacco, flavors, and nicotine-free. The distribution channels include specialist e-cig shops, online, supermarkets, tobacconists, and others.

The global e-cigarettes market 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

The global e-cigarettes market size grew from $21.63 billion in 2022 to $25.33 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global e-cigarettes is expected to grow from $44.01 billion in 2027 at a CAGR of 14.8%.

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.

Major players in the e-cigarettes market are Philip Morris International, MCIG Inc., Altria Group Inc., British American Tobacco PLC., Japan Tobacco Inc., Imperial Tobacco Group, Njoy Inc., International Vapor Group, Reynolds American Inc., and VMR Product.

Increased government regulations on the ban on e-cigarettes market are restraining the growth of the e-cigarettes market. Many countries have banned the sale and manufacture of e-cigarettes to protect young people and children from the harmful effects and addiction of e-cigarettes. For example, in January 2020, the U.S. Food and Drug Administration, a US-based federal agency for protecting public health, announced a policy focusing enforcement against specific illegal flavored e-cigarette goods, including fruit and mint tastes, that appeal to children. According to this directive, businesses that don't stop producing, distributing, and selling unlicensed e-cigarettes with flavors other than tobacco or menthol within 30 days risk FDA enforcement actions. The government banned e-cigarettes as the manufacturing companies were promoting them as a way to get people out of smoking habits but research studies have shown that most people are addicted to them.

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.

In June 2022, Supreme Imports Ltd., a UK-based company operating in e-cigarette acquired Liberty Flights Holdings for an undisclosed amount. Through this acquisition, Supreme Imports Ltd aims to enhance its existing vaping products offering. Liberty Flights Holdings is a UK-based company operating in e-liquid and quality vaping devices.

Asia Pacific was the largest region in the e-cigarettes market in 2022. The regions covered in the global e-cigarettes market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the e-cigarettes market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The e-cigarette market consists of sales of rechargeable e-cigarettes, modular e-cigarettes, disposable e-cigarettes, and other e-cigarettes. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The e-cigarettes market research report is one of a series of new reports from The Business Research Company that provides e-cigarettes market statistics, including e-cigarettes industry global market size, regional shares, competitors with an e-cigarettes market share, detailed e-cigarettes market segments, market trends, and opportunities, and any further data you may need to thrive in the e-cigarettes industry. This e-cigarettes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

    Table Of Contents

    1. Executive Summary

    2. E-Cigarettes Market Characteristics

    3. E-Cigarettes Market – Macro Economic Scenario

    3.1 COVID-19 Impact On E-Cigarettes Market

    3.2 Ukraine-Russia War Impact On E-Cigarettes Market

    3.3 Impact Of High Inflation On E-Cigarettes Market

    4. E-Cigarettes Market Size And Growth

    4.1. Global E-Cigarettes Historic Market, 2017 - 2022, $ Billion

    4.1.1. Drivers Of The Market

    4.1.2. Restraints On The Market

    4.2. Global E-Cigarettes Forecast Market, 2022 - 2027F, 2032F, $ Billion

    4.2.1. Drivers Of The Market

    4.2.2. Restraints On the Market

    5. E-Cigarettes Market Segmentation

    5.1. Global E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Disposable

    Rechargable

    Modular

    5.2. Global E-Cigarettes Market, Segmentation By Composition Used, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Tobacco

    Flavors

    Nicotine-Free

    5.3. Global E-Cigarettes Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Specialist E-cig Shops

    Online

    Supermarkets

    Tobacconist

    Other Distribution Channels

    6. E-Cigarettes Market Regional And Country Analysis

    6.1. Global E-Cigarettes Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    6.2. Global E-Cigarettes Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    7. Asia-Pacific E-Cigarettes Market

    7.1. Asia-Pacific E-Cigarettes Market Overview

    7.2. Asia-Pacific E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    8. China E-Cigarettes Market

    8.1. China E-Cigarettes Market Overview

    8.2. China E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion

    9. India E-Cigarettes Market

    9.1. India E-Cigarettes Market Overview

    9.2. India E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    10. Japan E-Cigarettes Market

    10.1. Japan E-Cigarettes Market Overview

    10.2. Japan E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    11. Australia E-Cigarettes Market

    11.1. Australia E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    12. Indonesia E-Cigarettes Market

    12.1. Indonesia E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    13. South Korea E-Cigarettes Market

    13.1. South Korea E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    14. Western Europe E-Cigarettes Market

    14.1. Western Europe E-Cigarettes Market Overview

    14.2. Western Europe E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    15. UK E-Cigarettes Market

    15.1. UK E-Cigarettes Market Overview

    15.2. UK E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    16. Germany E-Cigarettes Market

    16.1. Germany E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    17. France E-Cigarettes Market

    17.3. France E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    18. Eastern Europe E-Cigarettes Market

    18.1. Eastern Europe E-Cigarettes Market Overview

    18.2. Eastern Europe E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    19. Russia E-Cigarettes Market

    19.1. Russia E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    20. North America E-Cigarettes Market

    20.1. North America E-Cigarettes Market Overview

    20.2. North America E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    21. USA E-Cigarettes Market

    21.1. USA E-Cigarettes Market Overview

    21.2. USA E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    22. South America E-Cigarettes Market

    22.1. South America E-Cigarettes Market Overview

    22.2. South America E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    23. Brazil E-Cigarettes Market

    23.1. Brazil E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    24. Middle East E-Cigarettes Market

    24.1. Middle East E-Cigarettes Market Overview

    24.2. Middle East E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    25. Africa E-Cigarettes Market

    25.1. Africa E-Cigarettes Market Overview

    25.2. Africa E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    26. E-Cigarettes Market Competitive Landscape And Company Profiles

    26.1. E-Cigarettes Market Competitive Landscape

    26.2. E-Cigarettes Market Company Profiles

    26.2.1. Philip Morris International

    26.2.1.1. Overview

    26.2.1.2. Products and Services

    26.2.1.3. Strategy

    26.2.1.4. Financial Performance

    26.2.2. MCIG Inc.

    26.2.2.1. Overview

    26.2.2.2. Products and Services

    26.2.2.3. Strategy

    26.2.2.4. Financial Performance

    26.2.3. Altria Group Inc.

    26.2.3.1. Overview

    26.2.3.2. Products and Services

    26.2.3.3. Strategy

    26.2.3.4. Financial Performance

    26.2.4. British American Tobacco plc

    25.2.4.1. Overview

    26.2.4.2. Products and Services

    26.2.4.3. Strategy

    26.2.4.4. Financial Performance

    26.2.5. Japan tobacco, Inc.

    26.2.5.1. Overview

    26.2.5.2. Products and Services

    26.2.5.3. Strategy

    26.2.5.4. Financial Performance

    27. Key Mergers And Acquisitions In The E-Cigarettes Market

    28. E-Cigarettes Market Trends And Strategies

    23. E-Cigarettes Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Table 3: Global E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 4: Global E-Cigarettes Market, Segmentation By Composition Used, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 5: Global E-Cigarettes Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 6: Global E-Cigarettes Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 7: Global E-Cigarettes Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 9: China, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 10: India, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 11: Japan, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 12: Australia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 13: Indonesia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 14: South Korea, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 15: Western Europe, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 16: UK, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 17: Germany, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 18: France, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 20: Russia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 21: North America, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 22: USA, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 23: South America, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 24: Brazil, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 25: Middle East, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 26: Africa, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 27: Philip Morris International Financial Performance
  • Table 28: MCIG Inc. Financial Performance
  • Table 29: Altria Group Inc. Financial Performance
  • Table 30: British American Tobacco plc Financial Performance
  • Table 31: Japan tobacco, Inc. Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 3: Global E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 4: Global E-Cigarettes Market, Segmentation By Composition Used, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 5: Global E-Cigarettes Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 6: Global E-Cigarettes Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 7: Global E-Cigarettes Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 9: China, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 10: India, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 11: Japan, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 12: Australia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 13: Indonesia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 14: South Korea, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 15: Western Europe, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 16: UK, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 17: Germany, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 18: France, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 20: Russia, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 21: North America, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 22: USA, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 23: South America, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 24: Brazil, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 25: Middle East, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 26: Africa, E-Cigarettes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 27: Philip Morris International Financial Performance
  • Figure 28: MCIG Inc. Financial Performance
  • Figure 29: Altria Group Inc. Financial Performance
  • Figure 30: British American Tobacco plc Financial Performance
  • Figure 31: Japan tobacco, Inc. Financial Performance
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