An electronic cigarette or e-cigarette is a battery-based device that heats a liquid solution (containing nicotine-free or nicotine liquid) to a sufficiently high temperature that makes an inhaled aerosol. The E-cigarette is considered less toxic and is recognised as a replacement for conventional cigarettes.
What is the global market size of E-cigarette?
Chhavi
E-cigarette market size
The global electronic cigarette market is accounted for US$ 6.5 billion in 2019 and is expected to reach US$ 15 billion by 2026.
Analysis fo the E-cigarette market
The major market driver for electronic cigarette is the rising health awareness around the world. For instance, the addiction to tobacco and many other toxins and carcinogenic chemicals that cause cancer and lung diseases are not found in e-cigarettes. The market has also seen substantial investments in the e-cigarette industry.
The increasing application of e-cigarettes as a smoking cessation tool is anticipated to boost the growth of the e-cigarette market further.
Tobacco manufacturers are constantly focusing on new developments in technology to have a lead over their rivals. This has encouraged e-cigarette vendors to spend more in R&D activities to create and innovate new varieties, compact vape designs and powerful battery packs to keep the e-cigarette industry competitive. Major tobacco companies have signed deals with product suppliers, innovators and e-cigarette flavouring specialists.
Furthermore, the increasing popularity of vaping products has also led to the introduction of new flavours and fragrances. Aromas such as menthol, mint, chocolate, cola and various fruit are being introduced to increasing numbers of customers. This trend is expected to continue and will contribute to the e-cigarette industry.