E-cigarette and vape market, by product 2016 - 2027

 The global e-cigarette and vape market size is expected to reach USD 67.31 billion by 2027, registering a revenue-based CAGR of 23.8% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The growing awareness regarding consuming safe, smokeless, and ashless tobacco is expected to propel the growth. Furthermore, vaping is considered to be an effective method to quit smoking, as it is less toxic and creates vapor instead of smoke. The adoption of vaping devices is expected to increase, particularly among individuals willing to quit smoking or willing to smoke merely for recreation. Launch of new and innovative vaping devices, such as introduction of IQOS MESH, a puff-activated heating and a low-liquid level detection system, is also anticipated to foster the product adoption.

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 the 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.

Download Free Sample Copy  - https://www.radiantinsights.com/research/us-e-cigarette-vape-market/request-sample

Several agencies have been calling for setting standards for vaping devices in order to encourage people to opt for a safer alternative to smoking. Long-term studies undertaken by various medical associations have helped determine that e-cigarettes can be considered as a safer substitute to conventional cigarettes. However, several countries, such as India, Singapore, and Uruguay, among others have banned the sale and distribution of e-cigarettes, hindering the adoption of these products.

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.

Further key findings from the study suggest:

• Modular device is expected to emerge as the fastest-growing segment, registering a CAGR of 25.2% from 2020 to 2027. The sub-segment would continue to grow as modular devices allow their users to adjust the vapor output according to their preference

• E-liquid segment is expected to register the highest CAGR over the forecast period, driven by the growing popularity of DIY e-liquid

• Online platform is anticipated to emerge as a popular medium for the sale of vapor products. Vendors are using social media applications, such as Instagram and Facebook to promote their vaping devices

• North America accounted for the largest market share, in terms of revenue in 2019 and is expected to maintain its dominance over the forecast period. It is home to prominent players, such as JUUL Labs, Inc.; Altria Group, Inc.; and Philip Morris International Inc. which hold a significant market share

• Key market players include Altria Group, Inc.; British American Tobacco; Imperial Brands; International Vapor Group; Japan Tobacco, International; NicQuid; JUUL Labs, Inc.; Philip Morris International, Inc.; R.J. Reynolds Vapor Company; Nicquid; Shenzhen IVPS Technology Co., Ltd.; and Shenzhen KangerTech Technology Co., Ltd.

Browse Full Report with TOC  - https://www.radiantinsights.com/research/us-e-cigarette-vape-market

Table of Contents

Chapter 1 Methodology and Scope

1.1 Research Methodology

1.2 Research Scope and Assumptions

1.3 List of Data Sources

Chapter 2 Executive Summary

2.1 E-cigarette and Vape Market - Industry Snapshot & Key Buying Criteria, 2016 - 2027

2.2 E-cigarette and Vape Market, 2016 - 2027

2.2.1 E-cigarette and vape market, by region 2016 - 2027

2.2.2 E-cigarette and vape market, by product 2016 - 2027

2.2.3 E-cigarette and vape market, by component 2016 - 2027

2.2.4 E-cigarette and vape market, by distribution channel 2016 - 2027

2.2.4.1 E-cigarette and vape market, by retail store 2016 - 2027

Chapter 3 E-cigarette and Vape Industry Outlook

3.1 Market Segmentation

3.2 Market Size and Growth Prospects

3.3 E-cigarette and Vape Market - Value Chain Analysis

3.3.1 Vendor landscape

3.4 E-cigarette and Vape Market Dynamics

3.4.1 Market driver analysis

3.4.1.1 Technological advances in e-cigarette technology

3.4.1.2 Growing awareness towards safe alternatives of tobacco consumption

3.4.2 Market restraint analysis

3.4.2.1 Stringent government regulations

3.5 E-cigarette and Vape Market - Company Market Share Analysis, 2019

3.6 Penetration and Growth Prospect Mapping

3.7 E-cigarette and VapeMarket - Porter’s Five Forces Analysis

3.8 E-cigarette and Vape Market - PESTEL Analysis

3.9 E-cigarette and Vape Market - Retail Pricing Analysis