Status : Published Published On : Jan, 2024 Report Code : VRSME9037 Industry : Semiconductor & Electronics Available Format : Page : 216

Global E-Cigarette Market – Analysis and Forecast (2025-2030)

Industry Insights by Product (Cig-A-Like [Disposable, Rechargeable], Vaporizer [Open Tank, Closed System], Vape Mod), by Distribution Channel (Vape Shops, Supermarkets, Online, Tobacconists), Aftermarket Products (Refill, Battery & Charger) and By Geography (North America, Europe, Asia-Pacific, Middle East, and Rest of the World)

Industry Overview

The Global e-Cigarette Market is expected to grow from USD 27.8 billion in 2023 to USD 55.4 billion during the forecast period, hitting a projected CAGR of 21.6%.

An electronic cigarette uses a battery to operate. This battery helps discharge nicotine further. Usually, a non-nicotine solution dosage is used in a vaporized form in these e-cigarettes. Users can inhale it easily and it does not create any smoke or ash in the process. These sophisticated devices help the users to get a similar feeling or sensation as inhaling smoke from traditional tobacco cigarettes. This feature helps the users to use it as an effective alternative to traditional cigarettes and even quit smoking and avert its harmful side effects.

E-cigarettes are a useful alternative to traditional cigarettes that help people quit smoking and promote their health as smoking use among women has doubled from 1.4% to 2.9% now-a-days. These electronic cigarettes are considered to be less harmful than the traditional cigarettes. A lot of research and development has been done to these products to make the best alternative option that is supposed to even help in alleviating symptoms or risks of cancer, a growing concern of the people.

These relatively low-cost alternatives are a popular choice among users since they align with their changing lifestyles. This has resulted in the growth of their demand among users, which has, in turn, pushed the growth of the global e-cigarette market.

There are different types of products available but it is the rechargeable and disposable cig-a-likes that play a significant role in the market expansion of the e-cigarettes globally.

The growing health concerns among people and the awareness of the ill effects of smoking traditional tobacco cigarettes have caused this market to grow. It is also due to the advancements in technology which has driven product innovation, the appeal of smoke-free and ash-free vaping, and the increasing popularity of direct sales channels.

E-Cigarette Market Highlights

Market Segmentation

Insight by E-cigarette Types

Considering the different types of products offered, the global e-cigarette market is divided into vaporizers, vapes, and cig-a-like modes. The cig-a-like e-cigarette market is further divided into disposable and rechargeable products, of which the former is more popular among users worldwide. The vaporizer market, on the other hand, is divided into open-tank and closed-system vaporizers.

Among these three major modes, the market for cig-a-like products will hold the largest share of the market in the forecast period globally. In terms of revenue, this specific segment will contribute almost half of the total revenue generated by the market players in the base year of the projected period.

It is also expected that there will be a significant growth in the demand for the vape mod during the forecast period and is also expected to remain the highest contributor among all e-cigarette products during the forecast period. This is mainly attributed to the continual research and development that has resulted in the product innovation and creation of highly distinguished vape mod. This causes a huge traction among users.

Insight by Distribution Channel

The different distribution channels divide the global e-cigarette market into supermarkets, hypermarkets, specialty e-cig shops, online, vape shops, and tobacconists. The vape shops typically have a greater prominence and are expected to grow considerably during the forecast period.

However, the supermarket segment is also expected to grow at a high CAGR during the analysis period due to the significant increase in their numbers and the development of e-commerce. It is expected that the majority of the sales portion of e-cigarettes will happen in supermarkets but will come through different online sales channels instead of physical visits to the stores.

The specialty e-cig shops will also account for the largest market share during the forecast period. This is mainly attributed to the high quality of products and the knowledgeable staff who know about the intricacies of e-cigarettes, e-liquids, and vaping devices. This expertise allows them to provide accurate information, recommendations, and troubleshooting assistance to the users.

These shops also offer a diverse range of e-cigarette devices, e-liquids, and accessories. This large variety allows the users to explore a variety of options and find a suitable product according to their preference and vaping style. Moreover, the ability of the shop staff to provide personalized recommendations based on nicotine levels, vaping goals, and flavor preferences allows customization and enhances the overall vaping experience, which drives the growth of this particular segment.

Insight by Product

The global e-cigarette market is divided into modular e-cigarettes, rechargeable e-cigarettes, next-generation e-cigarettes, and disposable e-cigarette segments based on the product type. Out of these segments, the next-generation e-cigarette segment is the most used product and contributes to the larger share of the global e-cigarette market.

This is mainly because these cigarettes come with innovative technologies that offer enhanced experience. It also improves their functionality and performance. The useful features of these solutions such as better battery life, improved vapor production, adjustable settings, adjustable wattage, airflow settings, and temperature control enable users to customize the device according to their preferences, thereby enhancing user experience.

The advanced battery technology allows the next-generation devices to perform for a longer period between two consecutive recharges. This increases the demand for these specific devices among users who want to use them throughout the day without worrying about recharging. This increases the dominance of the product and the growth in sales and the market.

The refill segment of the global e-cigarette market is expected to grow at a higher CAGR during the forecast period compared to others in the aftermarket for e-cigarettes.

Insight by Flavor

The global e-cigarette market is divided into a large number of sectors according to the different flavors such as tobacco, botanical, sweet, beverage, menthol, chocolate, cola, bubble gum, mint, fruits, and nuts. Such a wide variance of flavors presents an enticing growth prospect to industry investors.

Out of all these flavors, tobacco happens to be the most preferred flavor since most users who move from traditional smoking to e-cigarettes are used to the taste of tobacco and this flavor offers them a sense of similarity and familiarity. This promotes a smoother transition and a more comfortable experience.

However, the fruit flavors are also expected to dominate and grow during the forecast period due to the wider options to choose from and their unique and enjoyable taste. this enhances user experience and thereby the growth of this segment.

Insight by Mode of Operation

Based on the mode of operation, the global e-cigarette market is divided into two segments namely, automatic e-cigarette and manual e-cigarette segments. Out of these two segments, the automatic e-cigarette segment holds the largest share of the market and is expected to grow more in the projected period due to the useful and simple design that makes it easy to use with no buttons to operate.

Moreover, these devices closely mimic traditional cigarettes which adds to the experience of smoking, thanks to its puff-activated mechanism. Also, since the operation is automated, these devices are best and most convenient for on-the-go use.

Global E-Cigarette Market Report Coverage

Report Metric


Historical Period

2018 - 2023

Base Year Considered


Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  21.6 Billion

Revenue Forecast in 2030

U.S.D.  55.4 Billion

Growth Rate


Segments Covered in the Report

By Product, By Distribution Channel and By Aftermarket Products

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Industry Trends

The major players in the market are now investing more in research and development activities. They are also trying to introduce technological innovations to drive more interest among the users to use their products and promote the transitional move toward the market.

Several major players are also acquiring or collaborating with established business players to produce and launch better products.

The design of the e-cigarettes is now more improved with lots of features that allow customizing the device according to the preference of the users. These are lightweight and small and therefore easy to carry. The automated operation allows them to use on-the-go most conveniently. There has been a higher adoption of these solutions than the rechargeable models.

There is also the launch of modular e-cigarettes that can be refilled and the users can even power the atomizer from the battery. These specific e-cigarette models have gained immense popularity and even overshadowed the disposable and rechargeable models.

There is also a notable shift noticed towards alternative nicotine delivery systems, driving the growth of the e-cigarette market, as consumers are now looking for more efficient alternatives to traditional tobacco products.

Rapid technological advancements, such as temperature control devices and the development of pod-based systems have also improved user experience and driven the growth of the market. Also, the growing popularity of high-nicotine e-liquids and nicotine salts caters to the preferences of users who want stronger nicotine hits.

Growing and varying degrees of regulations implemented by governments and developments affect the availability of products and marketing strategies. However, there is a significant rise in disposable e-cigarettes noticed along with the advent of cannabis vaping products. All these have affected the market growth significantly.

Growth Drivers

Several factors influence the growth of the global e-cigarette market which includes the growing awareness of the adverse health effects of smoking. In addition, the changing lifestyle preferences are also causing this market to grow worldwide.

There has also been a significant amount of technological advancements in the area which has resulted in better and more efficient product innovations and launches, which has fueled the growth of the global e-cigarette market further.

Also, the growing popularity and adoption of e-cigarettes have increased direct sales figures. This plays an important role in boosting the market.

The market is also experiencing significant growth due to the continual progress due to the consistent efforts of the multiple vendors to introduce technological advancements and newer and better products to attract new consumers and drive their shift towards this industry.

These low-cost alternatives to traditional smoking are affordable to the users, which is another significant factor that is driving the growth of the e-cigarette market worldwide.

In addition, the growing promotional initiatives and higher investments in advertising have also contributed to the growth of the market.

Several governments worldwide have imposed a ban on smoking in public places, which has promoted the adoption and sales of e-cigarettes even further.

Furthermore, the growing demand for next-generation e-cigarettes that use refillable cartridges and offer varying nicotine levels is also contributing to the growth of the global e-cigarette market significantly.


There is a growing concern over health issues and the safety and security of the devices among users and the number of mishappenings, which has had some ill effects on the growth of the global e-cigarette market. Moreover, the major e-cigarette market players are also facing a lot of difficulty due to the stricter rules and regulations of the governments worldwide, which is also making these e-cigarettes costlier despite the cost-efficient techniques being used in their making. It is also causing hindrances in reaching out to a larger target audience in the market.

Also, the ban imposed on the sale and consumption of e-cigarettes due to growing concerns over health issues has affected the growth of the global e-cigarette market adversely.


Despite the challenges, the major players in the industry are creating new opportunities for the growth of the global e-cigarette market by introducing new regional flavors to the e-cigarettes. Also, these major players intend to form a monopoly in the market and are therefore collaborating with major tobacco manufacturers in the industry. This provides them with an edge to beat the competition.

A large number of additions of new flavors also created a higher growth opportunity for the market by driving new sets of customers toward it.

Geographic Overview

North America dominates the e-cigarette market. This dominance is mainly attributed to rapid advancements in technology and the high disposable income of the citizens of the US and Canada especially. The region also has a large large working population with a high demand for these smoking solutions due to their intention to switch to a less harmful smoking alternative. The presence of a large number of manufacturers, increased expenditure on advertising, and higher promotional activities and marketing have increased the demand for e-cigarettes in this region.

On the other hand, the Asia-Pacific region is expected to grow at a faster rate during the forecast period due to the huge population base of the young generation and their growing affinity towards e-cigarettes. The consumption and use of e-cigarettes is high among Japanese smokers and is expected to grow even further during the forecast period due to high per capita income and notable shifts in their lifestyle preferences.

Competitive Insight

Key players in e-cigarette are investing into research and development activities. Many prominent players are acquiring established business players to deliver next-generation products. For instance, in July 2017, British American Tobacco p.l.c. completed the acquisition of the remaining 57.8% of Reynolds American Inc. The prominent players operating in the e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, NJOY Inc., Vapor Hub International Inc., and FIN Branding Group LLC.

Recent Development by Key Players

Altria invests USD 2.75 billion in NJOY. The Marlboro maker gets full ownership of NJOY's e-vapor product portfolio including its pod-based e-vapor product ACE.

The E-Cigarette Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Product
    • Cig-A-Like
      • Disposable
      • Rechargeable
    • Vaporizer
      • Open Tank
      • Closed System
    • Vape Mod
  • By Distribution Channel
    • Vape Shops
    • Supermarkets
    • Online
    • Tobacconists
  • By Aftermarket
    • Refill
    • Battery & Charger

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries


E-Cigarette Market Analysis

Frequently Asked Questions

Asia-Pacific region offers great investment opportunities for the investors to witness the significant growth in the near future.
Key players in e-cigarette are investing into research and development activities. Many prominent players are acquiring established business players to deliver next-generation products.
Increasing awareness of the hazardous effects on health due to smoking and changing lifestyle and preferences, technological advancements leading to product innovation, and increasing adoption through direct sales are the key factors attributing towards growth in the e-cigarette market.
North America dominates the global e-cigarette market .
Among all these products, cig-a-like holds the largest share in the global market.
The prominent players operating in the e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, NJOY Inc., Vapor Hub International Inc., and FIN Branding Group LLC.
The global e-cigarette market is expected to grow at a CAGR of 21.6% during the forecast period
The global e-cigarette market size predicted to reach USD 55.4 billion by 2030

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle