E-cigarette And Vape Market Size, Share & Trends Analysis Report By Product (Modular Devices, Rechargeable), By Distribution Channel (Online, Retail), By Region (APAC, North America), And Segment Forecasts, 2023

Quick Summary:

In a world prioritizing health and wellness, the demand for e-cigarettes and vape goods has seen a remarkable uptick. Shifting focus from traditional cigarettes, consumers globally have demonstrated an increased preference for these less hazardous alternatives. The versatility offered through various flavors, types, and technological advancements in e-cigarettes facilitates personalized choices, further fueling growth in this market. The rise in awareness regarding healthier tobacco substitutes also plays a pivotal role in the global acceptance and growth of e-cigarettes.

Even as certain jurisdictional regulations pose challenges, the e-cigarette industry continues to thrive, backed by its growing popularity and the consumer demand for smokeless, safer, and ashless alternatives. The high costs associated with traditional cigarettes further motivate consumers to opt for e-cigarettes. Digital sales channels are expected to strengthen growth, given the widespread perception of vaping as an effective substitute for traditional smoking habits. The market is a mix of well-established companies and smaller players who are gaining consumer attention through effective products. This report offers a comprehensive review of the current market dynamics and potential future directions of the e-cigarette and vape market.

The global e-cigarette and vape market size is expected to reach USD 182.84 billion by 2030, registering a CAGR of 30.6% from 2023 to 2030. Since people of all ages have become more concerned about traditional cigarettes, the desire for substantially less hazardous e-cigarettes and vape goods has grown. E-cigarettes and e-liquid products are available in various flavors and types, and advances in e-cigarette technology have enabled users to choose their device and flavor of interest, helping the industry expand. The increased awareness of healthier alternatives to tobacco use has prompted the global uptake of e-cigarettes.

As high-capacity e-cigarettes have emerged that produce substantial amounts of vapor and flavor, vapor enthusiasts' preference for these products has increased. E-cigarettes are a natural smoking cessation therapy since vaping has helped a significant percentage of smokers stop. In addition, former smokers think that smoking e-cigarettes have made their breathing better. The increasing cost of traditional cigarettes has contributed to the adoption of e-cigarettes. Strict laws in some nations have hindered the e-cigarette industry's growth. However, e-cigarette sales have kept rising due to the technology’s growing popularity. Consumer awareness of smokeless, safe, and ashless tobacco is predicted to drive industry growth.

Post-pandemic, sales through digital channels and COVID-19-based marketing techniques are expected to drive industry growth. Furthermore, as vaping is less harmful and produces vapors rather than smoke, there is a growing understanding that it is an effective way to stop smoking traditional cigarettes. As a result, it is anticipated that more people will start using vape devices throughout the projection period, especially smokers who smoke for fun and those trying to quit completely. The COVID-19 pandemic has caused indoor smoking to rise in various nations worldwide. However, vape shops continued to open and operate during the closure in countries like Italy.

Many retailers use marketing techniques and offer their goods online to take advantage of the growing demand for vape items. For instance, the British company MyVapery/Xyfil sells flavored nicotine e-liquids in bottles containing freehand sanitizers. The industry is dominated by well-known companies with large market shares. Most of these businesses invest in e-cigarettes because they are considered to be an effective alternative to tobacco. However, the industry is also dominated by several smaller niche players who provide effective vape products and e-liquids, gradually building up a sizable consumer base. China is a popular destination for small businesses to outsource their e-cigarette production to keep prices low.

E-cigarette And Vape Market Report Highlights

The modular device segment is expected to register a significant CAGR over the forecast period. Modular devices are advanced gadgets that competitors mostly employ in professional vape competitions
These technologically sophisticated devices offer programmable features like temperature control and variable wattage control
The online platform segment accounted for the highest revenue share in 2022. Users can now buy e-cigarettes online through recently developed online vape stores. E-cigarettes’ smaller packaging also results in lower shipping costs, which increases consumer preference
North America is anticipated to register considerable growth over the forecast period
This is owing to a strong presence of prominent players, such as Philip Morris International Inc. and Altria Group, Inc., in the North America region

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Frequently Asked Questions about the Global E-cigarette And Vape Market

What is the estimated value of the Global E-cigarette And Vape Market?

The Global E-cigarette And Vape Market was estimated to be valued at $28.17 Billion in 2023.

What is the growth rate of the Global E-cigarette And Vape Market?

The growth rate of the Global E-cigarette And Vape Market is 30.6%, with an estimated value of $182.84 Billion by 2030.

What is the forecasted size of the Global E-cigarette And Vape Market?

The Global E-cigarette And Vape Market is estimated to be worth $182.84 Billion by 2030.

Who are the key companies in the Global E-cigarette And Vape Market?

Key companies in the Global E-cigarette And Vape Market include Reynolds American Inc., Imperial Brands, JUUL Labs, Inc., Altria Group, Inc., Japan Tobacco Inc., Philip Morris International, International Vapor Group, British American Tobacco, Nicquid and Shenzhen IVPS Technology Co., Ltd..

Report Attribute	Details
No. of Pages	139
Published	December 2022
Forecast Period	2023 - 2030
Estimated Market Value ( USD ) in 2023	$ 28.17 Billion
Forecasted Market Value ( USD ) by 2030	$ 182.84 Billion
Compound Annual Growth Rate	30.6%
Regions Covered	Global
No. of Companies Mentioned	11

Chapter 1 Methodology and Scope

1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary

2.1 E-cigarette and Vape Market - Industry Snapshot & Key Buying Criteria, 2018 - 2030
2.2 E-cigarette and Vape Market, 2018 - 2030
2.2.1 E-cigarette and vape market, by region 2018 - 2030
2.2.2 E-cigarette and vape market, by product 2018 - 2030
2.2.3 E-cigarette and vape market, by distribution channel 2018 - 2030
2.2.3.1 E-cigarette and vape market, by retail store 2018 - 2030

Chapter 3 E-cigarette and Vape Industry Outlook

3.1 Market Segmentation
3.2 Market Size and Growth Prospects
3.3 E-cigarette and Vape Market - Value Chain Analysis
3.3.1 Vendor landscape
3.4 E-cigarette and Vape Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Technological advances in e-cigarette technology
3.4.1.2 Growing awareness of safe alternatives of tobacco consumption
3.4.2 Market restraint analysis
3.4.2.1 Stringent government regulations
3.5 Industry Analysis
3.5.1 E-cigarette and Vape Market - Porter’s Five Forces Analysis
3.5.2 E-cigarette and Vape Market - PESTEL Analysis
3.6 E-cigarette and Vape Market - COVID-19 Impact Analysis

Chapter 4 E-cigarette and Vape Product Outlook

4.1 E-cigarette and Vape Market Share By Product, 2022 & 2030
4.2 Disposable
4.2.1 Disposable e-cigarettes market, 2018 - 2030
4.3 Rechargeable
4.3.1 Rechargeable e-cigarettes market, 2018 - 2030
4.4 Modular Devices
4.4.1 Modular devices market, 2018 - 2030

Chapter 5 E-cigarette and Vape Distribution Channel Outlook

5.1 E-cigarette and Vape Market Share By Distribution Channel, 2022 & 2030
5.2 Online
5.2.1 Online market, 2018 - 2030
5.3 Retail Store
5.3.1 Retail store market, 2018 - 2030
5.3.1.1 Convenience Store
5.3.1.1.1 Convenience store market, 2018 - 2030
5.3.1.2 Drug Store
5.3.1.2.1 Drug store market, 2018 - 2030
5.3.1.3 Newsstand
5.3.1.3.1 Newsstand market, 2018 - 2030
5.3.1.4 Tobacconist Store
5.3.1.4.1 Tobacconist store market, 2018 - 2030
5.3.1.5 Specialty E-cigarette Store
5.3.1.5.1 Specialty e-cigarette store market, 2018 - 2030

Chapter 6 E-cigarette and Vape Regional Outlook

6.1 E-cigarette and Vape Market Share By Region, 2022 & 2030
6.2 North America
6.2.1 North America e-cigarette and vape market, 2018 - 2030
6.2.2 North America e-cigarette and vape market, by product, 2018 - 2030
6.2.3 North America e-cigarette and vape market, by distribution channel, 2018 - 2030
6.2.4 North America e-cigarette and vape market, by retail store, 2018 - 2030
6.2.5 U.S.
6.2.5.1 U.S. e-cigarette and vape market, 2018 - 2030
6.2.5.2 U.S. e-cigarette and vape market, by product, 2018 - 2030
6.2.5.3 U.S. e-cigarette and vape market, by distribution channel, 2018 - 2030
6.2.5.4 U.S. e-cigarette and vape market, by retail store, 2018 - 2030
6.2.6 Canada
6.2.6.1 Canada e-cigarette and vape market, 2018 - 2030
6.2.6.2 Canada e-cigarette and vape market, by product, 2018 - 2030
6.2.6.3 Canada e-cigarette and vape market, by distribution channel, 2018 - 2030
6.2.6.4 Canada e-cigarette and vape market, by retail store, 2018 - 2030
6.3 Europe
6.3.1 Europe e-cigarette and vape market, 2018 - 2030
6.3.2 Europe e-cigarette and vape market, by product, 2018 - 2030
6.3.3 Europe e-cigarette and vape market, by distribution channel, 2018 - 2030
6.3.3.1 Europe e-cigarette and vape market, by retail store, 2018 - 2030
6.3.4 U.K.
6.3.4.1 U.K. e-cigarette and vape market, 2018 - 2030
6.3.4.2 U.K. e-cigarette and vape market, by product, 2018 - 2030
6.3.4.3 U.K. e-cigarette and vape market, by distribution channel, 2018 - 2030
6.3.4.4 U.K. e-cigarette and vape market, by retail store, 2018 - 2030
6.3.5 Germany
6.3.5.1 Germany e-cigarette and vape market, 2018 - 2030
6.3.5.2 Germany e-cigarette and vape market, by product, 2018 - 2030
6.3.5.3 Germany e-cigarette and vape market, by distribution channel, 2018 - 2030
6.3.5.4 Germany e-cigarette and vape market, by retail store, 2018 - 2030
6.4 Asia Pacific
6.4.1 Asia Pacific e-cigarette and vape market, 2018 - 2030
6.4.2 Asia Pacific e-cigarette and vape market, by product, 2018 - 2030
6.4.3 Asia Pacific e-cigarette and vape market, by distribution channel, 2018 - 2030
6.4.3.1 Asia Pacific e-cigarette and vape market, by retail store, 2018 - 2030
6.4.4 Japan
6.4.4.1 Japan e-cigarette and vape market, 2018 - 2030
6.4.4.2 Japan e-cigarette and vape market, by product, 2018 - 2030
6.4.4.3 Japan e-cigarette and vape market, by distribution channel, 2018 - 2030
6.4.4.4 Japan e-cigarette and vape market, by retail store, 2018 - 2030
6.4.5 China
6.4.5.1 China e-cigarette and vape market, 2018 - 2030
6.4.5.2 China e-cigarette and vape market, by product, 2018 - 2030
6.4.5.3 China e-cigarette and vape market, by distribution channel, 2018 - 2030
6.4.5.4 China e-cigarette and vape market, by retail store, 2018 - 2030
6.4.6 South Korea
6.4.6.1 South Korea e-cigarette and vape market, 2018 - 2030
6.4.6.2 South Korea e-cigarette and vape market, by product, 2018 - 2030
6.4.6.3 South Korea e-cigarette and vape market, by distribution channel, 2018 - 2030
6.4.6.4 South Korea e-cigarette and vape market, by retail store, 2018 - 2030
6.5 Latin America
6.5.1 Latin America e-cigarette and vape market, 2018 - 2030
6.5.2 Latin America e-cigarette and vape market, by product, 2018 - 2030
6.5.3 Latin America e-cigarette and vape market, by distribution channel, 2018 - 2030
6.5.3.1 Latin America e-cigarette and vape market, by retail store, 2018 - 2030
6.5.4 Brazil
6.5.4.1 Brazil e-cigarette and vape market, 2018 - 2030
6.5.4.2 Brazil e-cigarette and vape market, by product, 2018 - 2030
6.5.4.3 Brazil e-cigarette and vape market, by distribution channel, 2018 - 2030
6.5.4.4 Brazil e-cigarette and vape market, by retail store, 2018 - 2030
6.6 MEA
6.6.1 MEA e-cigarette and vape market, 2018 - 2030
6.6.2 MEA e-cigarette and vape market, by product, 2018 - 2030
6.6.3 MEA e-cigarette and vape market, by distribution channel, 2018 - 2030
6.6.3.1 MEA e-cigarette and vape market, by retail store, 2018 - 2030

Chapter 7 Competitive Analysis

7.1 Recent Developments and Impact Analysis, by Key Market Participants
7.2 Company/Competition Categorization
7.3 Vendor Landscape
7.3.1 Key Company Analysis, 2022

Chapter 8 Competitive Landscape

8.1 Reynolds American Inc.
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.1.4 Strategic initiatives
8.2 Imperial Brands
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
8.3 JUUL Labs, Inc.
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Strategic initiatives
8.4 Altria Group, Inc.
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product benchmarking
8.4.4 Strategic initiatives
8.5 Japan Tobacco Inc.
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.5.4 Strategic initiatives
8.6 Philip Morris International
8.6.1 Company overview
8.6.2 Financial performance
8.6.3 Product benchmarking
8.6.4 Strategic initiatives
8.7 International Vapor Group
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product benchmarking
8.7.4 Strategic initiatives
8.8 British American Tobacco
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.8.4 Strategic initiatives
8.9 Nicquid
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.10 Shenzhen IVPS Technology Co., Ltd.
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking
8.11 Shenzhen KangerTech Technology Co., Ltd.
8.11.1 Company overview
8.11.2 Financial performance
8.11.3 Product benchmarking

List of Tables

Table 1 E-cigarette and vape market - Industry snapshot & key buying criteria, 2018 - 2030
TABLE 2 Global e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 3 Global e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 4 Global e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 5 Global e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 6 Global e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 7 Disposable e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 8 Disposable e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 9 Rechargeable e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 10 Rechargeable e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 11 Modular devices e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 12 Modular devices e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 13 Online e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 14 Online e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 15 Retail e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 16 Retail e-cigarette and vape market, by region, 2018 - 2030 (USD Million)
TABLE 17 E-cigarette and vape market in convenience store, 2018 - 2030 (USD Million)
TABLE 18 E-cigarette and vape market in convenience store, by region, 2018 - 2030 (USD Million)
TABLE 19 E-cigarette and vape market in drug store, 2018 - 2030 (USD Million)
TABLE 20 E-cigarette and vape market in drug store, by region, 2018 - 2030 (USD Million)
TABLE 21 E-cigarette and vape market in news stand, 2018 - 2030 (USD Million)
TABLE 22 E-cigarette and vape market in news stand, by region, 2018 - 2030 (USD Million)
TABLE 22 E-cigarette and vape market in tobacconist, 2018 - 2030 (USD Million)
TABLE 24 E-cigarette and vape market in tobacconist, by region, 2018 - 2030 (USD Million)
TABLE 25 E-cigarette and vape market in specialty e-cigarette store, 2018 - 2030 (USD Million)
TABLE 26 E-cigarette and vape market in specialty e-cigarette store, by region, 2018 - 2030 (USD Million)
TABLE 27 North America e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 28 North America e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 29 North America e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 30 North America e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 31 U.S. e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 32 U.S. e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 33 U.S. e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 34 U.S. e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 35 Canada e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 36 Canada e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 37 Canada e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 38 Canada e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 39 Europe e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 40 Europe e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 41 Europe e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 42 Europe e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 43 U.K. e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 44 U.K. e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 45 U.K. e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 46 U.K. e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 47 Germany e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 48 Germany e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 49 Germany e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 50 Germany e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 51 Asia Pacific e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 52 Asia Pacific e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 53 Asia Pacific e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 54 Asia Pacific e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 55 Japan e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 56 Japan e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 57 Japan e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 58 Japan e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 59 China e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 60 China e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 61 China e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 62 China e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 63 South Korea e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 64 South Korea e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 65 South Korea e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 66 South Korea e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 67 Latin America e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 68 Latin America e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 69 Latin America e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 70 Latin America e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 71 Brazil e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 72 Brazil e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 73 Brazil e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 74 Brazil e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)
TABLE 75 MEA e-cigarette and vape market, 2018 - 2030 (USD Million)
TABLE 76 MEA e-cigarette and vape market, by product, 2018 - 2030 (USD Million)
TABLE 77 MEA e-cigarette and vape market, by distribution channel, 2018 - 2030 (USD Million)
TABLE 78 MEA e-cigarette and vape market, by retail, 2018 - 2030 (USD Million)

List of Figures

FIG. 1 Market segmentation and scope
FIG. 2 Global e-cigarette and vape market, 2018 - 2030 (USD Million)
FIG. 3 E-cigarette and vape market - Value chain analysis
FIG. 4 E-cigarette and vape market - Market dynamics
FIG. 5 E-cigarette and vape market - Key market driver impact
FIG. 6 E-cigarette and vape market - Porter’s five forces analysis
FIG. 7 E-cigarette and vape market - PESTEL analysis
FIG. 8 E-cigarette and vape market, by product, 2022
FIG. 9 E-cigarette and vape market, by distribution channel, 2022
FIG. 10 E-cigarette and vape market, by region, 2022
FIG. 11 E-cigarette and vape market - Regional takeaways
FIG. 12 North America e-cigarette and vape market - Key takeaways
FIG. 13 Europe e-cigarette and vape market - Key takeaways
FIG. 14 Asia Pacific e-cigarette and vape market - Key takeaways
FIG. 15 Latin America e-cigarette and vape market - Key takeaways
FIG. 16 MEA e-cigarette and vape market - Key takeaways
FIG. 17 E-cigarette and Vape market - Key company analysis, 2022