Product Overview

Electronic cigarette is a device that consists of a battery, an atomizer, and an inhaler that simulates tobacco smoking without the use of tobacco. The unit is filled with a nicotine-containing or nicotine-free liquid that is heated and transformed into vapor before being inhaled, making it less toxic than traditional cigarettes. This system is now being recognized as a viable alternative to traditional cigarettes owing to its advantages such as no smoke, no pollution, reduced health-related issues, and the ability to smoke in public areas. Increasing affluence increased knowledge about the harmful effects of traditional cigarettes, reduced tar and carbon monoxide inhalation through electronic cigarettes, and increased technological advances by electronic cigarette manufacturers all contribute to the market's growth.

Market Highlights

Global Electronic Cigarette market is expected to project a notable CAGR of 14.9% in 2030.

Global Electronic Cigarette Market to surpass USD XXX million by 2030 from USD XXX million in 2020 at a CAGR of 14.9% in the coming years, i.e., 2021-30. This growth is anticipated due increasing mergers and acquisitions across various sectors which will create a worldwide demand for Electronic Cigarette. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Electronic Cigarette industry.

Global Electronic Cigarette Market: Segments

Brassiere segment to grow with the highest CAGR during 2020-30

Global Electronic Cigarette Market is segmented by product type into Disposable, rechargeable, modular devices, and others. Rechargeable segment held the largest market share of XX.X% in the year 2020. E-cigarettes have grown over time, becoming smaller and safer. By changing the e-liquid cartridges in rechargeable batteries, they can be used for longer periods of time. Furthermore, these devices are relatively inexpensive, which is expected to boost their acceptance. Over the projected era, modular devices are expected to be the fastest-growing product category. These devices have customization options that allow users to mix and match parts to change the flavor and amount of vapor produced. Over the projected era, new technologies such as pod devices have increased the selling of vaping devices. Furthermore, manufacturers are developing a variety of product configurations and price points to enable consumers to get their preferred device at a fair price.

Online segment to grow with the highest CAGR during 2020-30

Global Electronic Cigarette Market is segmented by distribution channel into online and offline. Over the forecast period, the online distribution channel is projected to expand at the fastest pace. Sales via this channel have been powered by the increasing popularity of e-commerce platforms among manufacturers and high internet penetration.

Electronic Cigarette Market Dynamics

Drivers

Flavored e-cigarettes and wide range of flavor variety

Surging demand of Electronic cigarettes from numerous end user industries is the key factor contributing in the market growth. To attract e-cigarette manufacturers and consumers, flavor and fragrance vendors are offering a wide range of e-cigarette flavors. Various flavors, such as menthol, mint, chocolate, cola, bubble gum, and fruit and flavoring substance fusions, are luring a vast number of customers to try e-cigarettes. Users in North America and Europe, mostly the United States, Canada, and the United Kingdom, are reporting a turn toward flavored e-cigarette. As a result of the demand for flavored e-cigarettes from all over the world, the e-cigarette industry is seeing an influx of new flavors. With an increasing awareness of human and environmental health, governments around the world are trying to create a healthier and greener climate, and some have gone so far as to outright ban smoking in public areas. Smoking has been prohibited in some public areas, forcing smokers to leave the premises to do so. As a result, demand for e-cigarettes, which do not emit tobacco smoke but offer the same sensation as regular cigarettes, has increased, propelling the market forward.

Opening of new stores and outlets and innovative e-cigarette products

Manufacturers of e-cigarettes are concentrating their efforts on promoting and selling their goods solely through kiosks and designated in-store hubs at major retail outlets and grocery stores. Many e-cigarette companies have opened their own stores and outlets to provide a club-like vaping experience. Smokers are drawn to these stores because they can find a wide range of flavors and innovative e-cigarette products. As a result of these outlets and dedicated shops, there is a demand for different vaping items sold by individual providers, which is pushing the global e-cigarette industry forward.

Restraint

Stringent rules and regulations and lockdowns imposed by governments

The market's growth has been stifled by stringent regulations imposed by local governments in the United States, India, and Germany, among other countries. Several countries have outlawed the distribution and selling of vapor goods, resulting in lower prices. Furthermore, strict trade rules have made importing vaping products for personal use difficult. To fight anti-vaping policies and to regulate the industry, the vaping industry has funded organizations such as the American Medical Association (AMA), Consumer Advocates for Smoke-Free Alternatives Association, and the Food and Drug Administration (FDA).

Global Electronic Cigarette Market: Key Players

Japan Tobacco, Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Kimree

MCIG Inc.

Nicotek LLC

Njoy Inc

Philip Morris International

Reynolds American Inc.

TruVape

Vaporcorp

VMR Product

Other Prominent Players

Global Electronic Cigarette Market: Regions

Global Electronic Cigarette Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.

Global Electronic Cigarette Market in North America held the largest market share of XX.X% in the year 2020 in terms of revenue because of the high visibility of electronic cigarettes and the health risks associated with tobacco smoking. The perception of electronic cigarettes as a tobacco cessation product is driving market growth in the country. In the world economy, the United States has the largest market share.

Global Electronic Cigarette Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Electronic Cigarette Market report also contains analysis on:

Electronic Cigarette Market Segments:

By Product Type

Disposable

Rechargeable

Modular Devices

Others

By Distribution Channel

Online

Offline

Electronic Cigarette Market Dynamics

Electronic Cigarette Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Global Electronic Cigarette Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Global Electronic Cigarette Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Global Electronic Cigarette Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Electronic Cigarette Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By product type: Market Share (2020-2030F)

1. Disposable, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Rechargeable, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Modular Devices, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By distribution channel: Market Share (2020-2030F)

1. Online, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Offline, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Japan Tobacco, Inc.

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Kimree

3. MCIG Inc.

4. Nicotek LLC

5. Njoy Inc

6. Philip Morris International

7. Reynolds American Inc.

8. TruVape

9. Vaporcorp

10. VMR Product

11. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)