E-cigarette Market Overview
The e-cigarette market was valued at USD 23.6 billion in 2021 and is projected to record a CAGR of 13.39% during the forecast period (2022-2027). A study conducted by the Gaiha University showed that nearly 56.4% of the young American population reported change in their e-cigarette use since the beginning of the COVID-19 pandemic. Furthermore, one-third of youth quit vaping, and another one-third reduced their use of e-cigarettes, with the remaining youth either increasing their use or switching to other nicotine or cannabis products. Thus, the study depicts that higher nicotine dependence, e-cigarette use frequency, poor online age verification, and several other factors were associated with sustained use of e-cigarette products.
The growth opportunity for the sales of e-cigarettes through online channels made online vendors improve purchase processes in terms of security and reliability, which, in turn, propelled the demand for these products. With the growing popularity of vaping devices, flavor and fragrance vendors are introducing a wide variety of e-liquids to attract consumers. Different flavors, such as menthol, mint, chocolate, cola, bubble gum, and fusions of other fruits and flavoring substances are luring a large number of consumers to adopt these e-cigarette devices.
Key Highlights of the European E-cigarette Market
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E-cigarette Market – Geographical Overview
North America holds the largest share in the e-cigarettes market
The involvement of youth in using these products has led to a rise in demand. For instance, youth in the United States are the major consumers of e-cigarettes. In 2020, the Centre for Disease Control and Prevention (CDC) reported that 3.6 million US middle and high school students used e-cigarettes in the study period of 30 days, including 4.7% of middle school students and 19.6% of high school students. E-cigarettes hold the major share of tobacco products, and currently, more than 3,000 e-cigarette flavors are available in the US market, and several flavors are being introduced into the market every year. Nicotine-free e-liquids generate smoother vapes than other variants.
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Recent Developments in the E-cigarette Market
Related Research and Links
List of Key Players in the E-cigarette Market
*List Not Exhaustive
Mordor Intelligence has segmented the E-cigarette Market based on product type, battery mode, distribution channel, and geography:
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