E-Cigarette Market its Future Outlook and Trends

With the increasing availability of e-cigarettes on various distribution channels, their sales are rising sharply across the world. Moreover, the producers of various vaping devices are increasingly focusing on advertising and selling their products via dedicated in-store hubs at bigger grocery shops and retail outlets and kiosks. Many e-cigarette providers are also opening their own outlets and stores to provide customers with a vaping experience which is similar to the one offered in a club.

Conventional smokers usually prefer these stores, as they can get a diverse range of vaping devices and flavors there. Besides the aforementioned factor, the increasing social acceptance of e-cigarettes, on account of the rising public awareness about the consequences of tobacco smoking on human health and environment, is also fueling the growth of the e-cigarette market all over the world.

Additionally, the governments of many countries are focusing on creating a more-sustainable and cleaner environment. As a result, they are taking several measures, such as banning tobacco smoking at certain places. This is also making smokers shift to e-cigarettes, as these vaping products are becoming more socially acceptable than conventional cigarettes. 

Because of the aforementioned reasons, the value of the e-cigarette market is expected to rise from $15.7 billion in 2019 to $39.0 billion by 2030, demonstrating a CAGR of 9.2% from 2020 to 2030 (forecast period). Vape mod, T-vapor, vaporizer, and cig-a-like are the most widely used types of e-cigarettes across the world. Out of these, the demand for T-vapor is predicted to rise at the fastest pace in the coming years.

This product is becoming very popular in South Korea and Japan, owing to its tobacco flavor and ability to closely resemble conventional smoking. Hypermarkets/supermarkets, online channels, vape shops, and tobacconists are the major distribution channels via which e-cigarettes are sold. Amongst these, tobacconists registered the highest sales of e-cigarettes during the last few years.

Young individuals usually prefer to buy cigarettes from tobacconists over supermarkets/hypermarkets and vape shops. This is credited to the hands-on experience provided by tobacconists to customers. Geographically, the demand for e-cigarettes was found to be the highest in Europe in the years gone by. France, the U.K., and Russia are the major e-cigarette consuming countries in the continent.