E-cigarettes, short for electronic cigarettes, are providing smokers a safer alternative to tobacco-based products. Because the health hazards of such devices are relatively low compared to traditional ones, the global e-cigarette market growth is expected to increase by leaps and bounds in the coming years.
It is being estimated that the market size in 2023 will be more than thrice of what it was in 2017. Cig-a-likes, vaporizers, and vape mods are the various types of products on offer that are primarily sold through vape shops, supermarkets, online platforms, and tobacconists.
Further, e-cigarettes are available in a variety of flavors, giving regulars wider options and luring first-timers a good reason for experimentation. The sale of e-cigarettes online has also skyrocketed, as consumers are drawn to attractive discounts and effective promotions.
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For instance, Japan Tobacco Inc. entered the Ethiopian market in 2017 after acquiring a stake in National Tobacco Enterprise (Ethiopia) S.C., while British American Tobacco plc launched a tobacco-heating product, glo, which, despite tasting similar to tobacco, produces a lot less toxicants, vapor and smell.
Hence, with rising awareness about the health risks of smoking, more people wanting to quit, increasing government restrictions on traditional forms of smoking, advancements in technology, and social acceptability of electronic alternatives, e-cigarettes are expected to witness a high demand, especially in developing countries.
The major trend observed in the e-cigarette market is the changing lifestyle and preferences of smokers. Addicts and those looking to quit are steadily shifting toward electronic cigarettes from tobacco-based ones. Besides, the extremely less amount of smoke produced by e-cigarettes helps cut down on passive smoking, which is another factor conducive to the market’s growth.
E-cigarette Market Segmentation
Market Segmentation by Product
- Open tank
- Closed system
- Vape Mod
Market Segmentation by Gender