QYResearch released the latest report Global E-cigarette Market Outlook: 2024-2030 that presents a grand panorama of a thriving e-cigarette market. In the coming years, the e-cigarette market is projected to continue its robust growth trajectory at a steady annual rate of 8.7%. By 2030, its size is expected to soar to a remarkable $44.87 billion, showcasing the thriving potential and boundless business opportunities in the e-cigarette industry.
The research data reveals the competitive landscape of the global e-cigarette market in 2023. In 2023, those top ten e-cigarette manufacturers collectively hold a significant share of 43.0% in the global e-cigarette market. Among them, these renowned brands include British American Tobacco, ELFBAR, Altria (Juul Labs), SKE Crystal, Imperial Tobacco, RELX, Japan Tobacco, MOTI, Boulder, and Smoore International, etc. The following chart illustrates the specific percentage of each global leading market share:
In 2024, which e-cigarette brand will make it to the list, and which one will drop off?
SMOANT and ANTBAR, two best vape brands with a decade-long history in e-cigarette research, production, and sales, which have a great potential and change to catch attention and make the ranking!
In terms of the division of the global e-cigarette market based on QYResearch’s research data, the offline channels have become the main driver of demand, accounting for approximately 82.8% of the market share indicating the core position and significant influence of offline channels in e-cigarette sales.
QYResearch’s research data: Popular types of electronic cigarettes
From a product type distribution perspective, closed-system products currently dominate the e-cigarette market, with a market share of approximately 63.1%. It is estimated that this trend will continue until 2030, highlighting the widespread acceptance and market penetration of closed-system e-cigarettes among consumers.
QYResearch’s research data: Global primary demand market for electronic cigarettes.
QYResearch’s comprehensive research data reveals that the current global demand for electronic cigarettes is primarily concentrated in Europe and the Americas. However, the Asia-Pacific region and the Middle East and Africa are expected to experience rapid growth in the following years. This trend undoubtedly serves as an important market indicator for e-cigarette manufacturers and retailers. They need to consider and reschedule their marketing strategy and sales planning to capture the potential of these emerging markets. This strategic adjustment will undoubtedly be an important topic for the future development of the e-cigarette industry.
Who is QYResearch? Are QYResearch reports reliable?
QYResearch is a globally renowned market research and report publishing giant, which founded in 2007 with dual headquarters in Los Angeles, USA, and Beijing, China.
It specializes in market research and consulting, focusing on segmented market research in various industries. It provides rigorous and comprehensive research methods, taking into account multiple factors such as technological innovation, government policies, market environment, historical data, competitive landscape, industry status, risks, and opportunities.
QYResearch’s service network covers more than 160 countries worldwide, and it has established solid partnerships with marketing partners in more than 30 countries. Additionally, the company has branches in the United States, Japan, South Korea, India, and other locations to ensure timely, comprehensive, and professional market information and consulting services for clients.
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