E-Cigarette Market Size to Grow by $15.57 Million, Driven by Increased Vendor Investment

NEW YORK, November 17, 2022 /PRNewswire/ — The e-cigarette market is growing at a CAGR of 11.2% and is expected to post incremental growth of USD 15.57 billion from 2021 to 2026. The report analyzed the market size and growth and provides accurate market growth forecasts. Download a free sample report

Technavio has announced its latest market research report titled Global E-cigarette Market 2022-2026

Main highlights

  • The report acknowledges the following key players in the e-cigarette market: Lee Industries, Legion Industries Inc., Otter Controls Ltd., and Strix Group Plc among others.

  • The global e-cigarette market structure is concentrated in nature.

  • APAC is expected to have a significant share in the e-cigarette market.

  • Market to observe 6.81% YoY growth in 2022.

View a comprehensive summary of the report describing the market size and forecast, as well as the research methodology. The FREE Sample Report is available in PDF format

Market dynamics

The e-cigarette market is predicted to witness substantial growth over the forecast period mainly due to the increase investment by suppliers. Vendors are increasing their investments in the global e-cigarette market. They are investing in emerging startups and e-cigarette distribution channels. For example, inside December 2018Altria Group has invested approx USD 12.8 billion into JUUL Labs, an emerging supplier of e-cigarettes, and Altria Group acquired nearly 35% stake in the company. Suppliers are also focusing on successful M&A activities to gain access to new products and technologies. For example, inside July 2017, British American Tobacco has completed its acquisition of Reynolds American. The acquisition made the company one of the leading suppliers in the e-cigarette market. Such developments among the vendors will positively affect the growth of the market during the forecast period.

The report also covers insights into the upcoming trends and challenges that will affect the growth of the market. Explore more information for Download a FREE sample report

Seller landscape

The e-cigarette market is fragmented and highly competitive, with a significant number of competitors offering similar products. Suppliers compete on performance, quality, price, customer service, and complete, on-time delivery. However, regional operators erode the market share of international operators through cheap pricing and achieving a high degree of customer preference. To sustain more competition in the market, the existing players are venturing into market development and new product development.

This report provides a comprehensive list of key vendors, their strategies and latest developments. Buy now to gain access to exclusive supplier information

Key segments

The e-cigarette market it is segmented by product into modular e-cigarettes, next generation products, refillable e-cigarettes, and disposable e-cigarettes. The modular e-cigarette segment is expected to be the largest segment of the global e-cigarette market during the forecast period. The demand for modular e-cigarettes is currently high due to their large penetration in different markets and is expected to increase over the forecast period as new products are introduced. The cost-effectiveness of these e-cigarettes is one of the major factors that will contribute to the growth of the segment during the forecast period.

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Analysis of regional growth

The global e-cigarette market is analyzed into five regions viz North America, EuropeAPAC, South AmericaAnd Middle East And Africa. North America it is the dominant region and is expected to account for 37% of the global market share over the forecast period. The e-cigarette market North America is experiencing growth, due to the increasing use of e-cigarettes by consumers. The United States used to be the largest e-cigarette market North America in 2019. Many users buy e-cigarettes to quit smoking. According to the CDC, in 2018, nearly 55.1 percent of adult cigarette smokers in the United States attempted to quit smoking in the past year. This factor will help the growth of the e-cigarette market in North America during the forecast period.

Identify potential segments and regions to invest in over the forecast period. View the FREE sample report

Together with the market data, Technavio offers customizations according to the specific needs of the companies. The following customization options are available for the Electronic Cigarettes market report:

Regional analysis

Information on market players

  • Detailed analysis and profiling of other market players, supplier segmentation and supplier offers.

  • Know the strategies adopted by suppliers during the recovery phase. View our FREE sample report

Related reports:

  • The market share of herbal cigarettes in the United States an increase of is expected USD 315.53 million from 2021 to 2026 and the market growth momentum will accelerate to a CAGR of 10.75%. The growing availability of herbal cigarettes through various distribution channels is especially driving the growth of the herbal cigarette market in the United States, although factors such as strict government regulations may hinder the market growth.

  • The tobacco market share in Cuba should increase to USD 1.67 billion from 2021 to 2026 and the market growth momentum will accelerate to a CAGR of 3.27%. The growing demand for cigars and smoking tobacco products is driving the growth of the tobacco market in particular Cubaalthough factors such as adverse health effects may hinder the growth of the market.

Market scope of e-cigarettes

Report coverage


Page number


Reference year


Forecast period


Growth momentum and CAGR

Accelerates to a CAGR of 11.2%

Market growth 2022-2026

USD 15.57 billion

Market structure


Year-Over-Year Growth (%)


Regional analysis

North America, Europe, APAC, South America, the Middle East and Africa

Performing market contribution

North America at 37%

Main consuming countries

United States, China, United Kingdom, France and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Profiled companies

Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc. and White Cloud e-cigarettes

Market dynamics

Analysis of the main market, drivers and barriers to market growth, analysis of the fast and slow growing segments, the impact of COVID-19 and future consumer dynamics and market condition analysis for the forecast period.

Customization expertise

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.


1 Executive Summary

2 Market landscape

3 Market sizing

4 Analysis of the five forces

5 Market segmentation by product

6 Customer landscape

7 Geographical landscape

8 drivers, challenges and trends

9 Supplier overview

10 Vendor analysis

11 Appendix

Who we are

Technavio is a world-leading technology research and consulting company. Their research and analysis focuses on emerging market trends and provides useful insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base is based on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in the markets existing and potential and evaluate their competitive positions within evolving market scenarios.


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Global e-cigarette market 2022-2026

Global e-cigarette market 2022-2026



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