New York, NY -- (SBWire) -- 08/19/2020 --The global e-cigarette market is expected to register a CAGR of 9.2% from 2020 to 2030. Furthermore, the value of the market is predicted to rise from $15.7 billion to $39.0 billion from 2019 to 2030. The main factor driving the growth of the market is the easy availability of e-cigarettes across the world. The e-cigarette producing companies are increasingly collaborating with various grocery chains and retail stores for promoting their products at in-store facilities and kiosks.
Another important factor propelling the expansion of the e-cigarette market is the rapid establishment of special branded stores by the e-cigarette producing companies around the world. These outlets attract a larger number of customers than the traditional kiosks as in these stores, customers are provided with a varied range of product offerings to choose from. Additionally, these outlets offer products of several individual companies, which massively boosts the sales and popularity of these products.
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The COVID-19 pandemic has significantly hampered the progress of the e-cigarette market. This is because of the:
Shutting down of shops and other outlets in several countries due to the lockdown imposed in these places by the governments for controlling the spread of the corona virus.
Intense lockdown initiated by the government in China, which manufactures over 80% of the total cigarettes in the world, affecting the production of e-cigarettes in the country.
Between the male and female bifurcations of the e-cigarette market, the former registered higher growth in the market during the last few years. This is because a larger number of men switched to e-cigarettes from the conventional cigarettes in the past few years in comparison to women. They started consuming these cigarettes as smoking cessation products.
Out of all the categories present under the age group segment of the e-cigarette market, the 16–24 one is expected to hold the highest share in the market in the near future, on account of the fact that these products appeal to the people in this age bracket the most. Moreover, the easy availability of these devices in various designs and the adoption of focused and targeted social media marketing techniques by the e-cigarette manufacturers are making these products extremely popular amongst the younger population across the world.
Browse report overview with detailed TOC on "E-Cigarette Market Research Report - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/e-cigarette-market
Across the globe, the European e-cigarette market is currently being observed to be the most lucrative. This is because of the high popularity of e-cigarettes in France, the U.K., and Russia. In addition to this, a large number of people who smoke conventional cigarettes are rapidly switching to the electronic variants in this region. However, despite these factors, the industry is predicted to register the fastest growth in North America in the future, on account of the high per capita rate of smoking in the country. In addition to this, the rapidly rising popularity of e-cigarettes, as smoking cessation products, will boost the advancement of the market in the region in the years to come.
The research includes detailed analysis of;
Based on Product
Cig-a-Like
Vaporizer
Vape Mod
T-Vapor
Based on Gender
Male
Female
Based on Age Group
16–24
25–34
35–44
45–54
55–65
65+
Based on Distribution channel
Vape Shop
Online
Hypermarket/Supermarket
Tobacconist
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