Global Vapor Products Market To Observe Notable Gains By 2026

May 06, 2022

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 showcase exponential growth through 2026.

Report findings suggest that growing cognizance about hazardous effects of traditional cigarettes, reduced tar and carbon monoxide inhalation through an electronic cigarette, rising disposable income of individuals, and technological advancements by vaping producers are the major growth stimulants for global vapor products market.

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For the unversed, nicotine replacement products, such as nicotine patches, inhalers, gum, lozenges, and nasal spray, have been introduced to assist smokers in quitting cigarettes. A vaping device is a recent trend that is being acknowledged as a viable alternative to traditional cigarettes.

The COVID-19 outbreak had a negative impact on the world economy since it interrupted production and logistics activities, reducing the demand and supply of vaping items, thereby hampering the industry outlook.

However, multiple vendors implemented various marketing techniques and sold their products via online platforms in order to fulfil the rising demand for vape products, which maintained the revenue inflow for the market.

Furthermore, rising awareness about the dangers of tobacco smoking is fueling the demand for new and safer smoking devices, which is augmenting the industry trends. Leading firms are beginning to offer a variety of e-liquid flavors in order to meet changing client tastes, pushing the market growth.

In terms of distribution channel, worldwide vapor products marketplace is split into e-commerce and retail.

Based on product terrain, the industry is divided into heat-not-burn, e-vapes, and others. Among these, the e-vapes segment is anticipated to grow rapidly throughout the forecast years, due to their customizable nature and availability in various flavors. Whereas heat-not-burn segment is poised to grow significantly, due to increasing disposable income of individuals and expanding technological developments in the sector.

Regionally, the market spans across North America (U.S., Canada), Middle East & Africa, Europe (UK, Spain, Germany, France), and Asia Pacific (India, Japan, China, South Korea, Australia).

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

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