E-cigarettes Market Size, Share, Opportunities, And Trends By Product (Modular E-Cigarette, Rechargeable E-Cigarette, Next-Generation E-Cigarette, Disposable E-Cigarette), By Flavour (Tobacco, Mint, Menthol, Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2024 To 2029

  • Published : May 2024
  • Report Code : KSI061610021
  • Pages : 131

The E-cigarettes market is evaluated at US$18.326 billion for the year 2022 growing at a CAGR of 15.06% reaching the market size of US$48.916 billion by the year 2029.

Numerous studies by associations and medical institutions are expected to contribute to the public's growing understanding that e-cigarettes are safer than traditional cigarettes, especially among younger people. This will drive market expansion. Further supporting the product demand is expected to be the manufacturer's extensive customization options which include temperature control and nicotine dosages. Furthermore, in recent years user adoption and popularity of developing e-cigarette technologies such as squonk mods and pod systems have increased.

Further, because of the growing demand atomizer and e-liquid sales have significantly increased in the North American and European markets. Many countries the U. S. G. have made the use of e-cigarettes legal which has encouraged business growth. There are also now physical vape shops where customers can visit and sample the e-liquid flavours and products before making a purchase. In England, tank e-cigarettes remain the most widely used device type. However, because of the popularity of JUUL (Juul Labs Inc. ) e-cigarettes pod e-cigarettes have surpassed them. use (a US-based producer of electronic cigarettes).

Increased demand due to improved terms of battery life and flavour variety

A wide selection of flavours, such as menthol, tobacco, and fruits, are also available on the market, appealing to a large number of customers. These flavours emit aromas when it is used in an e-cigarette. Flavoured products continue to drive child usage; according to the 2021 National Young Tobacco Survey (NYTS), 85 percent of young e-cigarette users report consuming flavoured products, especially fruit, candy/desserts/other sweets, mint, and menthol being the most popular flavours. Furthermore, the increasing cost-effectiveness of these devices has enhanced customer acceptance, which is expected to drive market growth during the forecast period.

Rising use of rechargeable E-ciggerates

As they are more affordable and eliminate the need for recurring supply purchases like cartridges rechargeable devices are expected to gain popularity. Making their own e-liquid also allows customers to forgo purchasing pre-filled cartridges. Purchasing recharged e-cigarettes is particularly economical for seasoned smokers. Because they produce less smoke and can be charged using a USB port rechargeable e-cigarettes are also growing in popularity among youth in many major nations.

The rising awareness of e-cigarettes as they are safer than traditional cigarettes

It is anticipated that the continuous advancement in new product development by companies will accelerate the market expansion of electronic cigarettes. For example, the National Food and Drug Administration indicates that in 2023, about 2.13 million i.e. 7.7% of students—reported using e-cigarettes. Demand for the product is also anticipated to increase due to the manufacturer's customization options, which include temperature control and nicotine dosage.

Companies have focused on increasing awareness of electronic cigarettes, particularly among adult smokers, in recent years. Leading brands' market expansion is projected to be aided by such marketing initiatives over the forecast period. Furthermore, with the rising number of health-conscious consumers around the world, prominent players are employing a variety of techniques to attract customers' attention by offering new technologically advanced products

Tobacco is expected to have a significant market share among adult smokers based on flavour.

Tobacco-flavoured e-liquid improves the taste of tobacco products while reducing their negative effects, making them more appealing and available to new users. Flavoured items, on the other hand, are driving youth usage. Fruit, candy/desserts/other sweets, mint, and menthol are the most popular flavours among youth e-cigarette users, with 85 percent of them using flavoured products. According to the Centre of Disease Control and Prevention, 89.4% of high schoolers who reported consuming flavoured e-cigarettes used menthol-flavoured products.

By distribution channel, the offline segment is anticipated to have the largest proportion of the market.

Previously, e-cigarettes were sold in stores like vape shops & gas stations. Customers could choose from a broad variety of devices & e-liquids at these locations. Additionally, shops that allow customers to test and try out these devices before making a purchase choice are likely to promote retail store growth throughout the forecast period. Furthermore, over the projected period, the internet segment is expected to grow at a high rate. People buy e-cigarettes and vapes online because of the advantages of Internet marketplaces in terms of competitive cost, convenience, and access to a greater choice of items.

North America is expected to grow at a high rate during the forecast period.

Youth involvement in the consumption of these items has increased demand. In the United States, for example, youngsters are the primary users of e-cigarettes. In 2023, e-cigarette products accounted for 7.7% of all tobacco products used by middle and high school students (2.13 million). Cigarettes, pipe tobacco, nicotine pouches, smokeless tobacco, other oral nicotine products, hookahs, heated tobacco products, and cigarettes (1.6%), cigars (1.6%), and nicotine pouches (1.5%) were the next most popular products among these students. E-cigarettes account for most tobacco products; there are currently over 3,000 e-cigarette varieties available in the US marketplace, with new tastes being added every year. In the North American market, the link of e-cigarettes with fashion appeal boosts e-cigarette demand further.

Market key launches

  • In June 2023, Altria Group, Inc. announced that it would be purchasing the vaping company NJOY Holdings, Inc. The business will sell NJOY e-vapor goods under the name NJOY, LLC (NJOY), a division of Altria. Furthermore, Altria Group Distribution Company will handle the distribution of NJOY's products.
  • In June 2023, Imperial Brands plc announced that it would be purchasing nicotine pouches from TJP Labs in order to enter the oral market in the United States. With this acquisition, the company's U.S. operation, ITG Brands, will be able to provide 14 distinct product types in a pouch that has shown good performance in consumer testing. TJP Labs hopes to strengthen its dedication to creating goods that support consumer choice, flexibility, and harm reduction on a global scale by means of this acquisition.
  • In October 2022, Altria Group, Inc. and the tobacco company JT Group announced a partnership. A joint venture was established by JT Group and Altria Group, Inc. to market and sell heated tobacco stick products in the United States. Altria Group, Inc. sought to accelerate global damage reduction through collaboration on product development and worldwide commercialization of smoke-free products.


  • By Product
    • Modular E-Cigarette
    • Rechargeable E-Cigarette
    • Next-Generation E-Cigarette
    • Disposable E-Cigarette
  • By Flavour
    • Tobacco
    • Mint
    • Menthol
    • Others
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Chile
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Others
    • Middle East and Africa
      • Egypt
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • Indonesia
      • Philippines
      • Vietnam
      • Malaysia
      • Others

Frequently Asked Questions (FAQs)

The E-cigarettes market is projected to reach a total market size of US$48.916 billion by 2029.
E-cigarettes Market was valued at US$18.326 billion in 2022.
The global E-cigarettes market is projected to grow at a CAGR of 15.06% over the forecast period.
The major factor anticipated to drive the growth of the e-cigarettes market is the rising awareness and demand for smoking alternatives.
North America has a significant share of the E-cigarettes market.


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder


2.1. Research Design

2.2. Research Processes


3.1. Key Findings


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View


5.1. Introduction

5.2. Modular E-Cigarette

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Rechargable E-Cigarette

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Next-Generation E-Cigarette

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Disposable E-Cigarette

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness


6.1. Introduction

6.2. Tobbaco

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Mint

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Menthol

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Others

6.5.1. Market Trends and Opportunities

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness


7.1. Introduction

7.2. Online

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Offline

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness


8.1. Introduction

8.2. North America

8.2.1. By Product

8.2.2. By flavour

8.2.3. By Distribution Channel

8.2.4. By Country USA Market Trends and Opportunities Growth Prospects Canada Market Trends and Opportunities Growth Prospects Chile Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.3. Europe

8.3.1. By Product

8.3.2. By flavour

8.3.3. By Distribution Channel

8.3.4. By Country United Kingdom Market Trends and Opportunities Growth Prospects Germany Market Trends and Opportunities Growth Prospects France Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.4. Middle East and Africa

8.4.1. By Product

8.4.2. By flavour

8.4.3. By Distribution Channel

8.4.4. By Country Egypt Market Trends and Opportunities Growth Prospects UAE Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.5. Asia Pacific

8.5.1. By Product

8.5.2. By flavour

8.5.3. By Distribution Channel

8.5.4. By Country Japan Market Trends and Opportunities Growth Prospects China Market Trends and Opportunities Growth Prospects Indonesia Market Trends and Opportunities Growth Prospects Philippines Market Trends and Opportunities Growth Prospects Vietnam Market Trends and Opportunities Growth Prospects Malaysia Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects


9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard


10.1. Philip Morris International Inc.

10.2. Altria Group Inc. (JUUL Labs)

10.3. British American Tobacco PLC (Reynolds American Inc.)

10.4. Japan Tobacco, Inc.

10.5. Imperial Tobacco Group

10.6. Altria Group (NJOY Inc.)

10.7. ITC Limited

10.8. J WELL France

Philip Morris International Inc.

Altria Group Inc. (JUUL Labs)

British American Tobacco PLC (Reynolds American Inc.)

Japan Tobacco, Inc.

Imperial Tobacco Group

Altria Group (NJOY Inc.)

ITC Limited

J WELL France