Europe is Dominating E-Cigarette Market

In 2022, the e-cigarette market was worth around USD 17,901.1 million, and it is projected to advance at a 10.1% CAGR from 2021 to 2030, hitting USD 38,631.1 million by 2030, according to P&S Intelligence.

This growth can be credited to the customer’s focus on safer substitutes, like electronic cigarettes. Therefore, the growing knowledge about e-cigarettes being less harmful than traditional ones, mainly among the young populace, contributes to the development in sales.

The rising knowledge about the injurious impacts of smoking outmoded cigarettes is growing gradually throughout the globe. This has caused the growth of substitutes that aid customers to quit traditional ones. Cancer triggered by smoking is one of the main worldwide worries.

E-cigarettes eliminate the danger of cancer and stop the intake of over 4,000 chemicals, such as tobacco and several other carcinogens and toxins, that are existing in tobacco smoke and lead to cancer and lung illnesses. Moreover, they produce less toxic material and are less dangerous to smokers with asthma issues.

In 2022, the vaporizer category held the largest e-cigarette market share, at approximately 50%, and the category is also projected to be in the leading spot throughout the forecast period. The increasing popularity of vaporizers is credited to their reasonable price, dense aerosol production, and availability of a range of flavors.

While, T-vapors are mainly popular in South Korea and Japan, where individuals like tobacco flavor, credited to their close similarity to traditional smoking.

In 2022, the male category is dominating the industry, with more than 80% share. With more man customers leaning toward electric cigarettes as a smoking-cessation substitute, the category is also projected to be on the leading spot throughout the forecast period.

The online distribution channel is projected to experience the highest CAGR, of approximately 13% in the coming few years. Individuals are more interested to purchase electric cigarettes and vape items online because of the features of price analysis, suitability, and access to a better selection of goods.

In 2022, the 16–24 age category held the largest market share, of more than USD 5 billion, and also projected to be dominant till 2030. Electric-cigarette, including the JUUL device, appeal to the youth and have become a prompt hit in the age group of 16–24.

Europe held the largest market share in the e-cigarette industry, because of the existence of a huge count of customers. Furthermore, with a fall in the routine of traditional smoking in Europe, the customer base is projected to move toward electronic alternatives in the coming few years.