E-Cigarette and Vaporizer Market Size, Share, Growth, and Industry Growth, By Type (E-Cigarette and Vaporizer), By Application (Male and Female), Regional Forecast To 2031

Updated On: 13 November 2023

E-Cigarette and Vaporizer Market REPORT OVERVIEW

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The global e-cigarette and vaporizer market size was USD 17940 million in 2022 and is projected to touch USD 59172.09 million by 2031, at a CAGR of 14.2% during the forecast period.

E-cigarette & vaporizer is bifurcated in two parts; an e-cigarette and a vaporizer. E-cigarette is an electronic cigarette that stimulates smoking. It is made from a power source as a battery, an atomizer, and a container. They create an aerosol that is called vapor which is made of liquid particulate matter. Vaporizer or simply known as a vape, is a device that is used to vaporize the substances for inhaling. Substances such as tobacco, cannabis, essential oils, and herbs. Awareness regarding the negative effects of consuming tobacco have spiked the interests among population. Different types of e-cigarettes devices and e-cigarette liquids and atomizers are being introduced.     

Market growth for e-cigarette & vaporizer is being driven as tobacco is becoming a daily routine. Growing awareness regarding e-cigarettes being safer than traditional cigarettes among urban population is expected to propel the growth for the market. Advancements in the e-cigarette technology with different types of e-flavors is projected to drive demand. One of the major driving factors of the market growth is due to the popularity of e-cigarette & vaporizer amongst the young, adolescents, and adult population. Introduction of new flavors such as mint, chocolate, fruits and nuts, cola, bubble gum, methanol, fusion of fruits and flavoring items is anticipated to drive market growth.   

COVID-19 Impact: Online Sales Channels to Support Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the e-cigarette & vaporizer market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. Outbreak of the COVID-19 pandemic affected the demand for e-cigarette & vaporizers products due to closure of physical stores. Sales for the products through the online channels created demand during the pandemic which supported the growth for the market. Due to lockdown rules and regulations. Due to pandemic rules and regulations, indoor smoking was increased in various countries which increased the demand for the products.      

LATEST TRENDS

"Advanced Technologies to Inflate Market Development"

The global e-cigarette & vaporizer market growth is intended to develop owing to the integration of new and advanced technologies. Technologies such as battery advancement, voice activation, Bluetooth, and sub-ohm technology are expected to drive the market growth. Bluetooth-enabled vaping devices can help users to monitor vaping habits and usage. New upgradation allows users to lock the device is anticipated to drive the market growth during the forecast period. Improvement in batteries on vaping devices has improved the effects of the vaping device. Such integration of new technologies in e-cigarette & vaporizer is projected to pose an opportunity for market growth during the forecast period.

E-Cigarette and Vaporizer Market SEGMENTATION

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• By Type

Based on type; the market is divided into E-Cigarette and vaporizer.

Vaporizer is expected to be the leading part of the type segment.  

• By Application

Based on application; the market is divided into male and female.

Male is expected to be the leading part of the application segment.  

DRIVING FACTORS

"Manufacturers of the Market to Propel Market Growth "

Presence of manufacturers in the e-cigarette industry is projected to drive e-cigarette & vaporizer market growth. Market players of the market have invested in e-cigarettes as one of the effective alternatives for tobacco consumption. The market is characterized by niche players that offer e-liquids and efficient vape devices. This is expected to gain a large customer base.  Manufacturers have been focusing actively on selling their products through multiple distribution channels. Awareness and policies by the manufacturers to counter policies against vaping is expected to drive the market growth. Many companies have been providing different vaping and smoking experiences to attract more and more customers. Such strategies by market manufacturers are anticipated to provide lucrative opportunities for e-cigarette & vaporizer.  

"Introduction of New Vaping Liquids to Expand Product Demand"

Demand for vaporizer is driven due to the introduction of new vaping liquids. People want to try new flavors that they can get easily. Companies have been offering new vaping liquids such as mint, chocolate, fruits and nuts, cola, bubble gum, methanol, fusion of fruits and flavoring items. Users in various countries have been witnessing the shift in preferences towards flavored vaporizers and e-cigarettes which is expected to create demand for the e-cigarette & vaporizer market growth.

RESTRAINING FACTORS

"Negative Health Effects to Impede Product Demand "

There are a number of factors that can impel the growth of the e-cigarette & vaporizer market. Restraining factors; negative health effects of smoking and vaping can cause hindrance in market growth. Growing awareness regarding the negative effects of health and government initiatives to curb smoking. In addition, awareness regarding harmful effects of excessive smoking and vaping is expected to restrict and limit the market growth.   

E-Cigarette and Vaporizer Market REGIONAL INSIGHTS

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"North America to Lead the Market Share Owing to Demand from Young Population"

North America holds the largest part in the global e-cigarette & vaporizer market share owing to large adoption of the products amongst the youth population. Majority of the market manufacturers have wide sales of vaping and e-cigarettes products is expected to drive market growth in the region. Young population have been adopting vaping and e-cigarettes products as alternatives to tobacco which is estimated to generate lucrative opportunities in the market. Presence of extensive market players is predicted to drive market growth. Online platforms launched by various organizations of the market to expand the customer base are expected to propel the growth in the region.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Njoy (U.S.)
• V2 (U.K.)
• International Vaporgroup (U.S.)
• Vaporcorp (U.S.)
• Truvape (U.S.)
• ProVape (U.S.)
• Cigr8 (U.K.)
• KiK (U.S.)
• Hangsen (Poland)
• FirstUnion (China)
• Shenzhen Jieshibo Technology (China)
• Innokin (China)
• Kimree (China)
• Electronic Cigarette International Group

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.