E-cigarette Market to Record a CAGR of 11.2%, Imperial Brands Plc and British American Tobacco Plc Among Key Vendors – Technavio

NEW YORK, Aug. 8, 2022 /PRNewswire/ — E-cigarette Market Facts at a Glance-

• Companies: 10+ – Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc., and White Cloud Electronic Cigarettes among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape
• Segments: Product (modular e-cigarettes, next-generation products, rechargeable e-cigarettes, and disposable e-cigarettes)
• Geographies: North America, Europe, APAC, South America, and the Middle East and Africa

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According to the recent market study by Technavio, the E-cigarette Market size is expected to grow by USD 15.57 billion from 2021 to 2026, with an accelerated CAGR of 11.2%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.

The e-cigarette market is fragmented, and the vendors are deploying growth strategies such as new product launches to compete in the market. The key offerings of some of these vendors are listed below:

• Imperial Brands Plc – The company offers e-cigarettes that heat a portion or rod of tobacco, releasing nicotine and other tobacco emissions at substantially lower levels than cigarettes.
• British American Tobacco Plc – The company offers e-cigarettes that play a major role in providing smokers with reduced risk as an alternative to cigarettes.
• JUUL Labs Inc. – The company offers e-cigarettes that have replaceable capsules, which come in five flavors regular, menthol, cherry, berry mint, and vanilla.

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The e-cigarette market share growth in North America will be significant during the forecast period. The US is the key market for e-cigarettes in the region. However, market growth in North America will be slower than the growth of the market in other regions. Factors such as the significant increase in the use of e-cigarettes among consumers in countries such as the US will drive the growth of the market in North America.

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• E-cigarette Market Driver:
• Increasing investments by vendors:

Many vendors are also investing in emerging start-ups and e-cigarette distribution channels. For instance, in December 2018, Altria Group invested approximately USD12.8 billion in JUUL Labs and acquired nearly 35% stakes in the company. Similarly, in July 2017, British American Tobacco completed the acquisition of Reynolds American.

• E-cigarette Market Trend:
• Increasing availability of e-cigarettes across various distribution channels:

The increasing availability of e-cigarettes across various distribution channels is one of the trends in the market. For instance,  in 2021, Japan Tobacco Inc. launched its next-generation heated tobacco device, Ploom X. Similarly, in August 2017, Innokin Technology launched a new battery technology for e-cigarettes.

• E-cigarette Market Challenge:
• Stiff competition from other nicotine products:

The sale of other tobacco products (OTPs), such as smokeless tobacco, e-cigarettes, cigars, papers, and pipe tobacco, is increasing, which is challenging the growth of the e-cigarette market. For instance, in August 2017, Cipla launched nicotine patches under the brand Nicotex in India.

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Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Technavio can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

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1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 24: Chart on Product – Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Modular e-cigarette – Market size and forecast 2021-2026
• Exhibit 28: Chart on Modular e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Modular e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Modular e-cigarette – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Modular e-cigarette – Year-over-year growth 2021-2026 (%)

• 5.4 Next-generation products – Market size and forecast 2021-2026
• Exhibit 32: Chart on Next-generation products – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Next-generation products – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Next-generation products – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Next-generation products – Year-over-year growth 2021-2026 (%)

• 5.5 Rechargeable e-cigarette – Market size and forecast 2021-2026
• Exhibit 36: Chart on Rechargeable e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Rechargeable e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Rechargeable e-cigarette – Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Rechargeable e-cigarette – Year-over-year growth 2021-2026 (%)

• 5.6 Disposable e-cigarette – Market size and forecast 2021-2026
• Exhibit 40: Chart on Disposable e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Disposable e-cigarette – Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Disposable e-cigarette – Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Disposable e-cigarette – Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Product
• Exhibit 44: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 Europe – Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.5 APAC – Market size and forecast 2021-2026
• Exhibit 58: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.6 South America – Market size and forecast 2021-2026
• Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa – Market size and forecast 2021-2026
• Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 UK – Market size and forecast 2021-2026
• Exhibit 74: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.10 France – Market size and forecast 2021-2026
• Exhibit 78: Chart on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on France – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on France – Year-over-year growth 2021-2026 (%)

• 7.11 Germany – Market size and forecast 2021-2026
• Exhibit 82: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.12 China – Market size and forecast 2021-2026
• Exhibit 86: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Altria Group Inc.
• Exhibit 97: Altria Group Inc. – Overview
• Exhibit 98: Altria Group Inc. – Business segments
• Exhibit 99: Altria Group Inc. – Key offerings
• Exhibit 100: Altria Group Inc. – Segment focus

• 10.4 British American Tobacco Plc
• Exhibit 101: British American Tobacco Plc – Overview
• Exhibit 102: British American Tobacco Plc – Business segments
• Exhibit 103: British American Tobacco Plc – Key news
• Exhibit 104: British American Tobacco Plc – Key offerings
• Exhibit 105: British American Tobacco Plc – Segment focus

• 10.5 Imperial Brands Plc
• Exhibit 106: Imperial Brands Plc – Overview
• Exhibit 107: Imperial Brands Plc – Business segments
• Exhibit 108: Imperial Brands Plc – Key offerings
• Exhibit 109: Imperial Brands Plc – Segment focus

• 10.6 Japan Tobacco Co.
• Exhibit 110: Japan Tobacco Co. – Overview
• Exhibit 111: Japan Tobacco Co. – Business segments
• Exhibit 112: Japan Tobacco Co. – Key news
• Exhibit 113: Japan Tobacco Co. – Key offerings
• Exhibit 114: Japan Tobacco Co. – Segment focus

• 10.7 JUUL Labs Inc.
• Exhibit 115: JUUL Labs Inc. – Overview
• Exhibit 116: JUUL Labs Inc. – Product / Service
• Exhibit 117: JUUL Labs Inc. – Key offerings

• 10.8 Nicopure Labs
• Exhibit 118: Nicopure Labs – Overview
• Exhibit 119: Nicopure Labs – Product / Service
• Exhibit 120: Nicopure Labs – Key offerings

• 10.9 NJOY LLC
• Exhibit 121: NJOY LLC – Overview
• Exhibit 122: NJOY LLC – Product / Service
• Exhibit 123: NJOY LLC – Key offerings

• 10.10 Philip Morris International Inc.
• Exhibit 124: Philip Morris International Inc. – Overview
• Exhibit 125: Philip Morris International Inc. – Business segments
• Exhibit 126: Philip Morris International Inc. – Key offerings
• Exhibit 127: Philip Morris International Inc. – Segment focus

• 10.11 Shenzhen Eigate Technology Co. Ltd.
• Exhibit 128: Shenzhen Eigate Technology Co. Ltd. – Overview
• Exhibit 129: Shenzhen Eigate Technology Co. Ltd. – Product / Service
• Exhibit 130: Shenzhen Eigate Technology Co. Ltd. – Key offerings

• 10.12 Shenzhen IVPS Technology Co. Ltd.
• Exhibit 131: Shenzhen IVPS Technology Co. Ltd. – Overview
• Exhibit 132: Shenzhen IVPS Technology Co. Ltd. – Product / Service
• Exhibit 133: Shenzhen IVPS Technology Co. Ltd. – Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 134: Inclusions checklist
• Exhibit 135: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 136: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 137: Research methodology
• Exhibit 138: Validation techniques employed for market sizing
• Exhibit 139: Information sources

• 11.5 List of abbreviations
• Exhibit 140: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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