May 09, 2022
As per the latest research report titled ‘Global E-Cigarettes Market - Analysis By Product Type (Disposable, Rechargeable, Modular), Distribution Channel, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global e-cigarettes market which held a valuation of USD 21.2 billion in 2020 is slated to continue to foresee an upward growth trend through 2026.
Growing awareness about the harmful after-effects of conventional cigarettes, in congruence with technological advancements in the field, and rising disposable income levels among masses are the factors contributing to the augmentation in global e-cigarettes market.
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Several benefits associated with e-cigarettes which include reduced tar and carbon monoxide inhalation are bound to unearth new opportunities for market expansion in the upcoming years.
Notably, the onset of the novel Covid-19 pandemic had significantly affected product sales in the past few years. Disruptions caused due to lockdown restrictions to curb the spread of the virus resulted in product shortage owing to halted logistics and production activities, thus arresting the industry growth.
Moving on to product segmentation, the modular devices segment of worldwide e-cigarettes industry is expected to gain a sizable traction over the forecast period, owing to the availability of the customization feature that allows consumers to regulate vapor output as per their convenience.
Based on distribution channel, the online segment is expected to showcase a robust growth rate through the analysis timeframe, creditable to growing dependence of industry players on online platforms to meet the growing demands of consumers in the wake of the coronavirus pandemic.
Geographically, regional industry in North American and European are majorly contributing to overall renumeration due to the rise of black marketing following the outbreak of the Covid-19.
The competitive terrain of the global e-cigarettes market is defined by key players such as NJOY LLC, Juul Labs Inc., Joyetech, ALD Group Ltd., Shenzhen IPV Vaping Technology Co. Ltd., FirstUnion, Japan Tobacco Inc., British American Tobacco plc, Imperial Brands plc, and Smoore International Holdings Ltd.