E-Cigarettes - Worldwide | Statista Market Forecast

The E-Cigarettes market is projected to generate a revenue of US$26.0bn in 2024.
It is anticipated to experience an annual growth rate of 3.92% (CAGR 2024-2029) on a global scale.
Among all countries, United States leads in terms of revenue generation, with an estimated revenue of US$9bn in 2024.
Considering the total population, the per capita revenue generated in 2024 amounts to US$3.99.
This indicates the average revenue each individual contributes to the market in the Worldwide.
Despite increasing regulations in many countries, the e-cigarette market in the United States continues to thrive, fueled by a growing number of young adult consumers.

Definition:

E-cigarettes or Electronic Nicotine Delivery Systems (ENDS) are devices that heat a liquid containing nicotine to create an aerosol which can be inhaled by the user. These products vary largely in size, function, and price, from low-cost disposable cig-a-like e-cigarettes to relatively expensive refillable tank devices. Introduced as an alternative tobacco product, e-cigarettes are mostly consumed in North America and Europe, whereas they are banned or strictly regulated in many countries in Central and South America as well as in Asia.

Both devices and their contents (e.g., e-liquids, vaping pods, nicotine salt) are included in the analyses. Unlike combustible tobacco products, the tobacco contents and the prices of different kinds of e-cigarette products are not directly comparable, therefore, the volume and price data are not displayed.

Due to a ban either on the entire segment or on nicotine-containing products, the following countries are excluded: Argentina, Australia, Bahrain, Bhutan, Brazil, Brunei Darussalam, Cambodia, Colombia, Gambia, India, Iran, Japan, Jordan, Kuwait, Lebanon, Malaysia, Mauritius, Mexico, Nepal, Nicaragua, Norway, Oman, Panama, Qatar, Saudi Arabia, Seychelles, Singapore, Sri Lanka, Suriname, Tajikistan, Thailand, Timor-Leste, Turkey, Turkmenistan, Uganda, Taiwan, Hong Kong and Uruguay.

Additional information:

The market comprises revenue, average revenue per capita, and sales channels.

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Disposable e-cigarettes such as Elf Bar BC5000, ZOVOO DRAGBAR B5000, etc
Rechargeable vaping devices (e.g., vape pens, pod vapes, vape mods) such as JUUL vape pens and pods, myblu vape mods, etc
E-liquids, vaping pods, and nicotine salt such as JUUL vaping pods

Untaxed e-cigarette devices and contents which are sold illegaly
CBD liquids such as Strawberry CBD liquids, Cherry CBD liquids, etc
Heat-not-burn products such as IQOS and smokeless tobacco (snuff and chewing tobacco) such as Oliver Twist Arctic Chewing Tobacco, Oden’s Original Portion CB – Single Tin, etc
Decorative accessories for e-cigarettes such as cases
Combustible tobacco products (cigarettes, cigars, and smoking tobacco)

Over the past decade, the E-Cigarettes segment has emerged as one of the fastest-growing segments in the Tobacco Products market, mainly owing to the younger generations. One reason for this is that e-cigarettes are perceived as reduced-risk products. In fact, in the Statista Global Consumer Survey conducted in early 2022, 27% of Millennial / Generation Y respondents in the U.S. stated that they used e-cigarettes, compared to an overall average of 19%. Similarly, the survey revealed that 17% of the Millennial / Generation Y population in Japan smoked e-cigarettes, compared to an overall average of 14%. The reasons most frequently cited by respondents for smoking e-cigarettes include lower pricing of e-cigarettes in comparison to other tobacco products and the availability of a wide variety of flavors.

One other reason for the market’s growth has been the growing acceptance of e-cigarettes in countries where these products were initially banned. The UAE, for instance, lifted the ban on e-cigarettes in 2019, and Egypt followed suit in 2021. Moreover, some countries, such as New Zealand and Denmark, are planning to curb the sales of traditional cigarettes in the medium term, a move which augurs well for the E-Cigarettes market.

Additionally, product launches, such as the V-Nix Vape Pen and the ANYX GO, which are marketed as sustainable vaping devices, are likely to further drive the market.

Juul, Vuse, blu, Logic, and NJOY are among the most popular brands in this segment.

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Tobacco products, namely, Cigarettes, Cigars, Smoking Tobacco, and E-Cigarettes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as smoking rates, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing and regression analysis. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

With its (to-be-proven) promise of a safer alternative to traditional smoking and the appeal of customizable vaping experiences, the electronic cigarette market in the United States (U.S.) has experienced significant changes, capturing the attention of both consumers and investors alike.