E-cigarette Market to Record a CAGR of 11.2%, Imperial Brands Plc and British American Tobacco Plc Among Key Vendors

NEW YORK, Aug. 8, 2022 /PRNewswire/ — E-cigarette Market Facts at a Glance-

• Companies: 10+ – Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc., and White Cloud Electronic Cigarettes among others.

• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape

• Segments: Product (modular e-cigarettes, next-generation products, rechargeable e-cigarettes, and disposable e-cigarettes)

• Geographies: North America, Europe, APAC, South America, and the Middle East and Africa

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According to the recent market study by Technavio, the E-cigarette Market size is expected to grow by USD 15.57 billion from 2021 to 2026, with an accelerated CAGR of 11.2%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.

Vendor Insights-

The e-cigarette market is fragmented, and the vendors are deploying growth strategies such as new product launches to compete in the market. The key offerings of some of these vendors are listed below:

• Imperial Brands Plc – The company offers e-cigarettes that heat a portion or rod of tobacco, releasing nicotine and other tobacco emissions at substantially lower levels than cigarettes.

• British American Tobacco Plc – The company offers e-cigarettes that play a major role in providing smokers with reduced risk as an alternative to cigarettes.

• JUUL Labs Inc. – The company offers e-cigarettes that have replaceable capsules, which come in five flavors regular, menthol, cherry, berry mint, and vanilla.

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Regional Market Outlook

The e-cigarette market share growth in North America will be significant during the forecast period. The US is the key market for e-cigarettes in the region. However, market growth in North America will be slower than the growth of the market in other regions. Factors such as the significant increase in the use of e-cigarettes among consumers in countries such as the US will drive the growth of the market in North America.

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Latest Drivers, Challenges, and Trends Driving the Market-

Many vendors are also investing in emerging start-ups and e-cigarette distribution channels. For instance, in December 2018, Altria Group invested approximately USD12.8 billion in JUUL Labs and acquired nearly 35% stakes in the company. Similarly, in July 2017, British American Tobacco completed the acquisition of Reynolds American.

The increasing availability of e-cigarettes across various distribution channels is one of the trends in the market. For instance,  in 2021, Japan Tobacco Inc. launched its next-generation heated tobacco device, Ploom X. Similarly, in August 2017, Innokin Technology launched a new battery technology for e-cigarettes.

The sale of other tobacco products (OTPs), such as smokeless tobacco, e-cigarettes, cigars, papers, and pipe tobacco, is increasing, which is challenging the growth of the e-cigarette market. For instance, in August 2017, Cipla launched nicotine patches under the brand Nicotex in India.

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Browse Consumer Staples Market Research Reports

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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