North America dominated the global industry in 2022 and accounted for the maximum share of more than 44.10% of the overall revenue. The presence of influential business figures like R.J. E-cigarette and vaping product sales frequently occur on social media platforms. The use of the product is anticipated to increase since the young generation has predominantly chosen vaping devices as a safer alternative to cigarettes. However, it is expected that the United States’ current restrictions on various e-cigarette tastes, notably fruit and mint flavors, restrain market growth in the region.
Most e-cigarettes are imported from other countries, such as China. Furthermore, customers prefer to buy e-cigarettes in bulk through online platforms, which is anticipated to fuel market expansion in the Asia Pacific region. The regional market in Europe is anticipated to expand significantly during the forecast period. The approval of e-cigarettes and vaping by regional health organizations, such as British American Tobacco Plc’s Vype and Imperial Brands Plc’s Blu, as superior alternatives to tobacco smoking is anticipated to fuel market expansion in Europe.
Key Companies & Market Share Insights
Social media marketing is expected to play a key role in key players’ efforts to maintain connections with consumers and dispensaries. This is essential to maintain consumer focus and support upcoming growth plans. Personal vaporizers enable users to avoid sharing e-cigarettes and vaping equipment in the post-COVID-19 environment, which is necessary. There are few barriers to entry for new competitors in the market because they can launch their businesses with low startup costs.
To broaden their client base and global reach, large-scale organizations are adopting growth strategies including product launches, acquisitions, collaborations, and strategic agreements. For instance, in October 2022, Imperial Brands launched Blu 2.0, a vaping device. The device is lightweight and integrated with ceramic heating pod technology. The device will be available in the stores from March 2023. Some of the key players operating in the global e-cigarette and vape market include:
Altria Group, Inc.
British American Tobacco
International Vapor Group
Japan Tobacco Inc.
JUUL Labs, Inc.
Philip Morris International Inc.
R.J. Reynolds Vapor Company
Shenzhen IVPS Technology Co., Ltd.
Shenzhen KangerTech Technology Co., Ltd.
Global E-cigarette And Vape Market Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global e-cigarette and vape market report based on product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2018 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2018 – 2030)
-Specialty E-cigarette Store
Regional Outlook (Revenue, USD Million, 2018 – 2030)