According to the latest report of the market research institute, the global e-cigarette market is expected to grow at a CAGR of 29.90% during 2021-2029, and its estimated value will increase from US$17.28 billion in 2021 to US$140.09 billion by 2029. electricity
Vaping is an electronic device that produces gas by atomizing a solution containing nicotine and flavoring ingredients for human inhalation. It is considered to be a healthier and safer alternative to traditional cigarettes.
The report pointed out that the growth of the global e-cigarette market is mainly driven by the following factors: First, consumers’ acceptance of e-cigarette products continues to increase, especially among young people. E-cigarettes have a variety of flavors, personalized designs and entertainment
Second, tobacco companies and e-cigarette manufacturers have accelerated the process of innovation and product research and development, and launched more e-cigarette products with powerful functions, excellent performance, and stylish appearance to meet the needs of different consumers. remove
thirdly, the governments of various countries have strengthened the control and restrictions on traditional cigarettes, increased taxes, prohibited smoking in public places, standardized packaging and labeling and other measures, and prompted some smokers to turn to electronic cigarettes as a means of reducing harm or quitting smoking. s method
.
The report also analyzes the geographical distribution and competitive landscape of the global Electronic Cigarette market. At present, the United States is the largest e-cigarette market, with sales reaching 9.5 billion US dollars in 2019, accounting for 48% of the global market share. The growth of the US market is mainly due to JUUL and other
The rapid increase in volume and strong marketing capabilities of leading brands. Followed by the European market, sales in 2019 reached 6.6 billion US dollars, accounting for 33% of the global market share. The growth of the European market is mainly due to the increase in consumers’ awareness of e-cigarette products,
Relatively loose regulatory environment and diversified product supply. The Asia-Pacific region is one of the fastest-growing markets, with sales reaching $4.4 billion in 2019, accounting for 22% of the global market share. The growth of the Asia Pacific market is mainly due to China, Japan, South Korea
demand growth in other countries.
It is worth noting that although China is the world’s largest producer and exporter of e-cigarettes, its consumer market is relatively small. In 2019, the retail sales of e-cigarettes in China was about 19.7 billion yuan, accounting for 2% of the global market share. About 90% of China’s electricity
Cigarettes are used for export, mainly to the United States, Europe and other countries and regions. The development of China’s e-cigarette market has been influenced by many aspects at home and abroad, including consumers’ health awareness, product quality and safety, policy supervision and guidance, etc.
In 2020, China issued the “Notice on Further Protecting Minors from E-cigarettes”, prohibiting the sale and promotion of e-cigarettes on the Internet to protect minors from the harm of e-cigarettes. In addition, China is actively developing electronic
To regulate the production, sale and use of e-cigarettes and improve the quality level and credibility of the industry.
The report predicts that in the next five years, the global e-cigarette market will enter a “period of change”, facing both opportunities and challenges. On the one hand, with the advancement of technology and changes in consumer demand, electronic cigarette products will show more innovation and diversification,
For example, heat-not-burn (HNB) products, biodegradable products, smart interconnected products, etc., have brought new growth points and competitive advantages to the market; The tobacco industry will
Faced with more stringent laws and regulations, higher entry thresholds, more complex tax policies, etc., higher requirements are placed on the development of the industry. Therefore, e-cigarette companies need to continuously improve their core competitiveness, adapt to market changes, and grasp development opportunities
meet.
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