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E-Cigarette market Size & Growth Report
The E-Cigarette Market becoming popular due to rising demand for less harmful replacements to traditional cigarettes.
AUSTIN, TX, UNITED STATES, January 2, 2025 /EINPresswire / -- Market Size &
industry Insights
As Per the SNS Insider,“The E-Cigarette Market Size was valued at USD 24.8 billion in 2023 and is expected to grow to USD 33.56 billion by 2032, at a CAGR of 3.42% over the forecast period of 2024-2032.”
Flavored E-Cigarettes Boost Appeal with Safer Alternatives Custom Nicotine Levels and Smoking Cessation Support
The E-cigarette market has seen significant growth, primarily due to its reputation being a safer option than traditional cigarettes less harmful aerosol instead of smoke. So does the capability to select nicotine strengths that help restrict consumption or ease down over time. They are more interesting flavors like fruits or sweets, which still makes them more attractive to some crowds, even non-smokers. One of the reasons for popularizing flavored e-cigarettes is to help stop smoking.
A wide variety of flavors such as fruits, sweets, candies, and drinks are introduced. They add flavors that mimic popular, palate-pleasing tastes to enhance the experience. Their novelty also attracts non-smokers, particularly young people. In addition to that, flavored e-cigarettes also help in smoking cessation with more pleasurable alternatives to refrain from smoking conventional tobacco cigarettes, making it easier for smokers to transition and increasing product acceptability. They can also be localized to suit a culture or consumer palate to improve market penetration and consumer touch-points.
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SWOT Analysis of Key Players as follows:
-Altria Group Inc.
-British American Tobacco
-Imperial Brands
-International Vapor Group
-Japan Tobacco Inc.
-NicQuid
-JUUL Labs Inc.
-Philip Morris International Inc.
-R.J. Reynolds Vapor Company
-Shenzhen IVPS Technology Co. Ltd.
-Shenzhen KangerTech Technology Co. Ltd
Disposable E-Cigarettes and Retail Dominate While Modular Devices and Online Sales Drive Future Growth
By Product: In 2023, disposable e-cigarettes represented the largest market share due to their ease of use and low cost. Single-use disposable melamine tablet slides allow any user to perform simple experiments without needing to clean between uses, making them ideal for new users or users who prefer low-maintenance systems. Disposable e-cigarettes have been especially appealing since no effort is put into refilling or recharging and a wide variety of flavours is offered.
Modular devices will likely experience the fastest CAGR From 2024 to 2032, as consumers demand greater customization and improved performance. Modular electronic cigarettes allow users to individual parts such as coils, tanks, and batteries, which is why modular e-cigarettes are used more often by advanced vapers who want to give up customization, durability, and fine-tuning in preference for a single unit.
By Distribution: The e-cigarette retail market accounted for the largest share in 2023, as the presence of products in brick-and-mortar locations including convenience stores, supermarkets, and specialty vape shops enabled consumers to conveniently obtain their product of choice. And a lot of consumers shop at the store for e-cigarettes and accessories rather than having to wait for them to be shipped, or because they may prefer to inspect the actual product before making the purchase.
Online distribution is anticipated to be the most rapidly growing segment over the forecast period (2024 to 2032). These are some of the fundamental reasons for this upsurge where apart from the growing urge for a home-delivered product by customers as e-commerce takes an upward trend, a variety of products, flavors, and tastes can also be covered under this umbrella, the online space offers information, reviews, and competitive pricing on products, and is consequently bringing in more and more shoppers.
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KEY MARKET SEGMENTS:
By Product
Disposable
Rechargeable
Modular Devices
By Distribution
Online
Retail
-Convenience Store
-Drug Store
-Newsstand
-Tobacconist Store
-Specialty E-cigarette Store
North America Leads E-Cigarette Market Asia Pacific Drives Future Growth
North America held the largest share of the E-Cigarette Market in 2023. primarily due to the high consumer demand for e-cigarettes, especially in the United States where vaping is becoming a common alternative to smoking. Market growth in this region can be attributed to high disposable incomes along with increasingly available product supply through retail and online channels and rising health consciousness in this region.
Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period of 2024 to 2032. This rise is triggered by fast urbanization, improving disposable income, and also a public understanding of the health hazards of using tobacco. The region is the leader for e-cigarettes, with China, Japan, and South Korea among the top three countries in spending, and given the public's increasing desire to switch to less harmful nicotine products, emerging markets in Southeast Asia and India will play an important role in further driving growth.
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Recent Developments:
-In March 2024, PAX earned Plastic Negative Certification for all its products, including the new PAX TRIP made from ocean-bound plastic, highlighting its commitment to sustainability.
-In June 2024, The FDA authorized Njoy, now owned by Altria, to sell four menthol e-cigarettes, with flavored product reviews to be handled on a case-by-case basis.
-In June 2024, Vaporesso introduced the ECO ONE, a small but powerful vaping device designed as the perfect tool to help users switch from traditional smoking.
Table of Content - Major Points Analysis
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. E-Cigarette Market Segmentation, by Product
Chapter 8. E-Cigarette Market Segmentation, by Distribution
Chapter 9. Regional Analysis
Chapter 10. Company Profiles
Chapter 11. Use Cases and Best Practices
Chapter 12. Conclusion
Continued...
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Akash Anand
SNS Insider Pvt. Ltd
415-230-0044
...
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