E-cigarette refers to a cigarette shaped device which stimulates the experience of smoking tobacco without inhaling the tobacco. E-cigarette consists of battery, atomizer and e-liquid. E-cigarettes help the smokers to quit smoking. Consumers prefer e-cigarettes over conventional cigarettes as it does not lead to diseases or death.
“E-cigarette & Vaporizer Market: Global Demand Analysis & Opportunity Outlook 2024”
The global e-cigarette & vaporizer market is segmented into product type such as disposable e-cigarette, rechargeable e-cigarette, e-go and tanks e-cigarette, personal vaporizers and mods. Among these segments, rechargeable e-cigarette segment is expected to occupy the top position in the market. Factors such as availability of different level of nicotine are believed to drive the market of rechargeable e-cigarette segment. Moreover, advantages of rechargeable e-cigarette such as high quality, better performance and lower overall cost are creating substantial demand for rechargeable e-cigarette segment.
Global e-cigarette & vaporizer market is expected to expand at a CAGR of 23.6% over the forecast period. Moreover, the global e-cigarette & vaporizer market was valued at USD 9.1 Billion in 2016 and is expected to reach USD 49 Billion by the end of 2024. Rising awareness about the harmful effects of cigarette such as cancer, lung diseases and vascular diseases is expected to garner the growth of the e-cigarette & vaporizer market.
North America is projected to hold the major market share in e-cigarette and vaporizer during the forecast period. Rising disposable income, increasing number of e-cigarette & vaporizer stores and increasing healthcare awareness are some of the key factors driving the demand for e-cigarette & vaporizer in the North America region. Moreover, strict government regulations to reduce the number of deaths caused due to tobacco are expected to accelerate the growth of the e-cigarette & vaporizer market in the region.