Global E-Cigarette And Vape Market by Types, Sales Channels, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global E-Cigarette And Vape market was valued at USD 14.2 Billion in 2019, and is expected to grow at CAGR of 22.5% over forecast period 2020–2026. Availability of a variety of e-cigarette options, increasing product demand from millennials and cost-effectiveness of disposable models of e-cigarettes are the factors anticipated to drive the market.

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Rising concerns over conventional cigarettes among various age groups has boosted the demand for e-cigarettes. Several E-liquid flavors have also been launched in the market to cater to the changing preferences of individuals, thereby stimulating market growth. However, e-cigarettes are often compared to conventional cigarettes owing to the nicotine content, which is considered harmful to health and hence they tend to attract criticism, a factor that is expected to restrain the market growth.

Major tobacco companies control a large share of the global e-cigarette & vape market. These players have forayed into the e-cigarette space with new and innovative products under their brand name. On the other hand, there also exist various smaller players that develop efficient vapor products. Moreover, market incumbents are also investing in innovation and new product development.

Market Trends, Drivers, Restraints, and Opportunities:

Growing demand for flavored vapes among smokers is driving the global E-cigarette and vape market.
Individuals are increasingly adopting these devices to reduce or quit smoking conventional cigarettes. This is another factor surging the demand for vape pens.
Stringent regulations levied by government authorities in some countries are a key factor restraining the growth of the market.
Continuous developments in e-cigarette technology are creating opportunities in the global market.