Status : Published | Published On : May, 2023 | Report Code : VRSME9057 | Industry : Semiconductor & Electronics | Available Format :
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Industry Overview
The e-cigarette market in the United States is projected to experience a significant growth rate of 18.3% throughout the forecast period. By 2030, it is estimated that the market size will reach a substantial value of USD 20.5 billion. Several factors are expected to drive this growth, including heightened consumer awareness, widespread availability of e-cigarettes, online product distribution, technological advancements, and the prevalence of smoking-related diseases. The market size of the U.S. e-cigarette industry primarily depends on various product types, such as disposable and rechargeable cig-a-like devices, as well as open tank vaporizers, which collectively contribute to its expansion.
Market Segmentation
Insight by Product
The cig-a-like, vaporizer and vape mode are the products offered by e-cigarette manufacturers. Among all these products, cig-a-like holds the largest share in the U.S. market, due to the lower cost of these cigarettes. The U.S. vape mod market is anticipated to witness the highest growth during the forecast period.
Cig-a-like e-cigarette market is further segmented into disposable and rechargeable cig-a-like, of which disposable category is more popular. The vaporizer market is categorized into open tank and closed system vaporizer.
Insight by Distribution Channel
Based on distribution channel, the market is categorized into supermarkets, online, vape shops, and tobacconists. In 2018, the majority of e-cigarettes were distributed through vape shops and the trend is anticipated to remain the same during the forecast period. However, with the increasing number of supermarkets and the emergence of e-commerce, significant portion of sales will be through supermarkets and online sales channels.
U.S. E-Cigarette Market Report Coverage
Report Metric |
Details |
Historical Period |
2018–2022 |
Base Year Considered |
2022 |
Forecast Period |
By 2030 |
Market Size in 2022 |
$X.XX Billion |
Revenue Forecast in 2030 |
$20.5 Billion |
Growth Rate |
CAGR 18.3% |
Segments Covered in the Report |
By Product and By Distribution Channel |
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 |
U.S. |
Industry Dynamics
Growth Drivers
The growth of the e-cigarette market in the United States can be attributed to several factors, including increased consumer awareness, easy accessibility of e-cigarettes, online product distribution, technological advancements, and the high incidence of smoking-related diseases. According to the Centers for Disease Control and Prevention (CDC), cigarette smoking is the primary cause of preventable illnesses and deaths in the U.S., resulting in over 480,000 deaths annually, accounting for approximately 1 in 5 deaths. In 2017, 14.0% of all adults (34.3 million people), consisting of 15.8% of men and 12.2% of women, were reported as current cigarette smokers. However, nearly 7 out of 10 current adult cigarette smokers expressed a desire to quit smoking entirely in 2015. This creates a consumer segment that is highly inclined to adopt e-cigarettes as an alternative.
Challenges
Despite the lobbying by the industry players, U.S. Food and Drug Administration (FDA) have not included e-cigarettes as smoking cessation products. This remains the key challenge for the manufacturers for further promoting the e-cigarettes to masses. Also, the high cost of these cigarettes is another key factor hindering the growth of the market.
Competitive Insight
The prominent players operating in the U.S. 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., Cigavette and FIN Branding Group LLC.
The U.S. E-Cigarette Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.
Segments Covered in the Report
PRIMARY RESEARCH INTERVIEWS - BREAKDOWN
U.S. E-Cigarette Market