According to the research report titled ‘Global Vapor Products Market - Analysis By Product Type (E-Vape, Heat-not-Burn, Others), Distribution Channel, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global vapor products market was worth USD 34.80 billion in 2020 and is anticipated to register a healthy CAGR over 2021-2026.

Global vapor products market growth is attributed to factors such increasing cognizance about the negative health impacts of traditional cigarettes, reduced tar and carbon monoxide emissions from electronic cigarettes, rising disposable income of individuals, and technological advancements by vape producers.

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Notably, there are numerous nicotine replacement products, such as nicotine gum, patches, inhalers, lozenges, and nasal spray, to help smokers in quitting. Meanwhile, a new trend is being accepted as an alternative to traditional cigarettes that is the use of vaping devices. Availability of all these alternatives to traditional cigarettes is positively swaying the industry expansion.

However, COVID-19 outbreak has a negative impact on the supply and demand of vape products due to the suspension of production and logistics activities, thereby impeding the market growth.

On the bright side, various marketing strategies opted by vendors as well as online availability of vape products are contributing toward product sales, which in turn is augmenting the worldwide vapor products industry outlook.

In terms of distribution channel, the market is branched into e-commerce and retail. Based on product type, the industry is divided into heat-not-burn, e-vape, and others. Among these, the e-vape segment share is anticipated to increase at a rapid rate in the coming years, because of high degree of customization and wide range of flavors, which allow the consumers to change the vapor output in accordance with their preferences.

Considering the competitive landscape, NJOY LLC, Juul Labs Inc., Joyetech, Shenzhen IPV Vaping Technology Co. Ltd., Shenzhen FirstUnion Technology Co. Ltd., Turning Point Brands, British American Tobacco plc, Japan Tobacco Inc., Imperial Brands plc, and Smoore International Holdings Ltd. are the leading players in global vapor products market.