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Electronic cigarettes are gaining popularity across the globe as another option to conventional cigarettes filled with tobacco.
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E-cigarette Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
“E-cigarette Market Size To Be Worth USD 44.56
Billion By 2024”
The global E-Cigarette Market is set to reach USD 44.55 billion by 2024, driven by the rising consumer
demand for resource competent vaping products. The growth for e-cigarette market is prominently being
driven by growing health awareness and environment-friendly usage. Need for the alternative product as a
result of rising taxes on traditional cigarettes (tobacco rolled) and its products has been one of the factors
driving the growth of the electronic cigarette industry.
Emerging factors such as increasing awareness about harmful effects of traditional cigarettes, improving
lifestyle, and growing e-commerce business are expected to upsurge the growth of the market for the
forecast period. In addition, various mergers and acquisitions are also expected to fuel the market growth.
For instance, in 2012, a merger took placed between tobacco giant Lorillard and U.S.-based e-cigarette
company Blue Ecigs, which helped them to roll out their own brands by leveraging the technology possessed
by Blu Ecigs.
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The e-cigarette vendors are introducing a variety of flavors which differs from menthol to the fusion of fruits
and flavoring substances. These flavors are becoming a differentiator for vendors.
The market for e-cigarettes in North America and Europe is projected to grow on account of increase in
disposable incomes and smokers’ population in these regions. Asia Pacific market was valued at USD 946.2
million in 2016 and is expected to grow rapidly during the forecast period. The growth of the market in Asia
Pacific region is subjected to factors such as product availability and increasing awareness regarding the ill effects associated with traditional (tobacco rolled) cigarettes in countries s uch as India, Malaysia, and China.
The electronic cigarettes market has been segmented on the basis of products such as modular, rechargeable
and disposable e-cigarettes. Among these, modular e-cigarettes are popular among consumers, followed by
rechargeable and disposable. Modular e-cigarettes provide flexibility in flavors, besides improved inhaling
experience which gives greater satisfaction to the user.
Companies are focusing on diversifying their portfolio by offering flavors, aesthetic properties, an d
nonhazardous ingredients to end users. By acquiring Lorillard in 2014, Reynolds American has become largest
vendor in the North American market. The acquisition created a competition to Altria, a well -established
player in the market. The deal united some notable cigarette brands, such as American Spirit, Pall Mall,
Newport, and Camel.
Hexa Research has segmented the global e-cigarette market based on product and region:
Segmentation by product, 2014 - 2024 (USD Million)
• Disposables
• Rechargeable
• Modular
Segmentation by region, 2014 - 2024 (USD Million)
• North America
• Europe
• Asia Pacific
• ROW
Key players analyzed:
• Altria Group Inc.
• British American Tobacco Plc.
• Japan Tobacco Inc.
• Imperial Brands Plc.
• Phillip Morris International Inc.
• Reynolds American Inc.
• VMR Products LLC
• Nicotek LLC
• Njoy Inc.
• International Vapor Group
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Table of Content of E-cigarette Market
Chapter 1. Market Summary
1.1. Market trends & movement
Chapter 2. E-cigarette Market Trends: Drivers & Opportunities
2.1. Introduction
2.2. Key industry trends
2.3. Market drivers
2.4. Market restraints
2.5. Value chain analysis
2.6. Porter's Five Forces analysis
2.7. SWOT
Chapter 3. E-cigarette Market Trends, By Product
3.1. Global E-cigarette market movement, by product, 2016 & 2024
3.1.1. Modular
3.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.2. Disposable
3.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.3. Rechargeable
3.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
Chapter 4. E-cigarette Market Trends, By Region
4.1. Global E-cigarette Market movement, by region, 2014 & 2024
4.1.1. North America
4.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.1.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
4.1.2. Europe
4.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.2.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
4.1.3. Asia Pacific
4.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.3.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
4.1.4. Rest of World
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4.1.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.4.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
Chapter 5. Key Country Markets
5.1. U.S.
5.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.1.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
5.2. Italy
5.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.2.2. Market estimates and forecast, by product, 2014 - 2025 (USD Million)
5.3. UK
5.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.3.2. Market estimates and forecast, by product, 2014 - 2025 (USD Million)
5.4. China
5.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.4.2. Market estimates and forecast, by product, 2014 - 2025 (USD Million)
5.5. Malaysia
5.5.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.5.2. Market estimates and forecast, by product, 2014 - 2024 (USD Million)
Chapter 6. Competitive Landscape
6.1. Competitive landscape analysis, 2016
6.2. Strategic framework
6.3. Potential customer base concentration
6.4. Company market positioning
6.5. Company profiles
6.5.1. Altria Group Inc.
6.5.1.1. Company Overview
6.5.1.2. Product Benchmarking
6.5.1.3. Financial Performance
6.5.1.4. Recent Initiatives
6.5.2. British American Tobacco Plc.
6.5.2.1. Company Overview
6.5.2.2. Product Benchmarking
6.5.2.3. Financial Performance
6.5.2.4. Recent Initiatives
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6.5.3. Japan Tobacco Inc.
6.5.3.1. Company Overview
6.5.3.2. Product Benchmarking
6.5.3.3. Financial Performance
6.5.3.4. Recent Initiatives
6.5.4. Imperial Brands Plc.
6.5.4.1. Company Overview
6.5.4.2. Product Benchmarking
6.5.4.3. Financial Performance
6.5.4.4. Recent Initiatives
6.5.5. Phillip Morris International Inc.
6.5.5.1. Company Overview
6.5.5.2. Product Benchmarking
6.5.5.3. Financial Performance
6.5.5.4. Recent Initiatives
6.5.6. Reynolds American Inc.
6.5.6.1. Company Overview
6.5.6.2. Product Benchmarking
6.5.6.3. Financial Performance
6.5.6.4. Recent Initiatives
6.5.7. VMR Products LLC
6.5.7.1. Company Overview
6.5.7.2. Product Benchmarking
6.5.7.3. Financial Performance
6.5.7.4. Recent Initiatives
6.5.8. Nicotek LLC
6.5.8.1. Company Overview
6.5.8.2. Product Benchmarking
6.5.8.3. Financial Performance
6.5.8.4. Recent Initiatives
6.5.9. Njoy Inc.
6.5.9.1. Company Overview
6.5.9.2. Product Benchmarking
6.5.9.3. Financial Performance
6.5.9.4. Recent Initiatives
6.5.10. International Vapor Group
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6.5.10.1. Company Overview
6.5.10.2. Product Benchmarking
6.5.10.3. Financial Performance
6.5.10.4. Recent Initiatives
6.5.11. List of other vendors
Chapter 7. Methodology and Scope
7.1. Research methodology
7.2. Research Scope & Assumptions
7.3. List of data sources
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About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research
and consulting services to a host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients obtain clarity about their business
environment and enable them to undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: [email protected]
Website - https://www.hexaresearch.com/
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sara01.james
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