E-Cigarette and Vape Market Report 2026

The e-cigarette and vape market size has grown rapidly in recent years. It will grow from $32.74 billion in 2025 to $38.93 billion in 2026 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to growing awareness of smoking health risks, increasing popularity of nicotine alternatives, rising disposable income, urbanization and lifestyle changes, aggressive marketing by e-cigarette brands.

The e-cigarette and vape market size is expected to see rapid growth in the next few years. It will grow to $77.27 billion in 2030 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to advancements in e-liquid formulations, regulatory approvals for safer products, integration of smart features, expansion of online retail channels, rising demand for flavored and customizable vaping options. Major trends in the forecast period include rise of ai-powered vaping devices, eco-friendly and sustainable e-liquids, smart connected vaping systems, advanced manufacturing of e-cigarette hardware, digital tracking & personalized vaping experiences.

The growing use of safer alternatives to smoking is expected to drive the growth of the e-cigarette and vape market in the coming years. Safe alternatives to smoking refer to products or methods, such as e-cigarettes or nicotine replacement therapies, that offer a less harmful way to consume nicotine without the negative effects of traditional smoking. The rising demand for these alternatives is driven by increasing health awareness and stricter regulations on conventional tobacco products. E-cigarettes and vapes reduce exposure to harmful tar and other toxic chemicals by eliminating combustion, making them safer options compared to traditional smoking. For instance, in October 2024, a U.S.-based non-profit organization reported that 38.4% of adults used e-cigarettes frequently, while 26.3% used them daily, showing a slight increase from 2022, when adult e-cigarette use was 6%. Consequently, the growing use of safer alternatives to smoking is driving the growth of the e-cigarette and vape market.

Key companies in the e-cigarette and vape market are introducing innovative products, including reusable vape devices. These devices are designed for extended use, featuring rechargeable batteries and refillable e-liquid tanks, enabling users to replace or refill pods for multiple uses. For example, in August 2024, Lost Mary, a UK-based manufacturer of vape products, introduced the BM6000 in the UK market. The BM6000 is a rechargeable and reusable vape device with a battery display and an e-liquid level window. It offers up to 6,000 puffs, catering to the growing demand from adult smokers and former smokers for vapes with higher puff capacities. Unlike disposable vapes, the BM6000 uses a closed system with prefilled pods, including a 2 ml pod and a 10 ml e-liquid container for automatic refills, enabling it to last up to ten times longer than traditional single-use vapes.

In June 2023, Altria Group Inc., a U.S.-based tobacco company, acquired NJOY Holdings Inc. for $2.75 billion. This acquisition strengthens Altria’s position in the e-cigarette market, allowing the company to expand its portfolio with a leading smoke-free brand to meet the growing demand for reduced-risk alternatives to traditional tobacco use. Additionally, the acquisition aims to improve services for adult tobacco consumers across the U.S. NJOY LLC, based in the U.S., specializes in the manufacturing of electronic cigarettes and vaping products.

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.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have influenced the e-cigarette and vape market by increasing import costs for devices and e-liquids, particularly affecting segments like disposable and modular devices. Asia-Pacific regions, including China and India, which are major manufacturing and export hubs, face the highest impact. These tariffs have led to higher product prices and slowed adoption in some regions, but they also encourage local production and innovation, enabling manufacturers to explore cost-effective and compliant alternatives to maintain market competitiveness.

The e-cigarette and vape market research report is one of a series of new reports that provides e-cigarette and vape market statistics, including the e-cigarette and vape industry's global market size, regional shares, competitors with a e-cigarette and vape market share, detailed e-cigarette and vape market segments, market trends and opportunities, and any further data you may need to thrive in the e-cigarette and vape industry. This e-cigarette and vape 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.

E-cigarettes and vapes are electronic gadgets that enable users to inhale vaporized liquid, often referred to as e-liquid or vape juice. This liquid typically contains nicotine, flavorings, and other chemicals. These devices operate by heating the liquid into an aerosol form that can be inhaled, providing a substitute for traditional smoking. E-cigarettes and vapes are often promoted as a less harmful alternative for individuals looking to quit smoking, as they do not involve burning tobacco.

The primary types of e-cigarette and vape products include disposable, rechargeable, and modular devices. Disposable e-cigarettes and vapes are designed for one-time use, pre-filled with e-liquid, and are meant to be discarded after consumption. These products come in open and closed systems, offering a wide range of flavors such as tobacco, fruit, drinks, sweets, and more. They are available for purchase both online and in physical stores.North America was the largest region in the e-cigarette and vape market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the e-cigarette and vape market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The e-cigarettes and vape market consists of sales of e-cigarette devices, vape pens, disposable vapes, and e-liquids. 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.

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