The U.S. electronic cigarette market was valued at $6,698.9 million in 2020, and is projected to reach $34,137.3 million by 2031, registering a CAGR of 16.1% from 2022 to 2031. An electronic cigarette is a battery-operated device that emanates dosages of vaporized nicotine or non-nicotine solutions for the user. It aims to provide a similar sensation to inhaling tobacco smoke, without the harm of tobacco. Electronic cigarettes are marketed as e-cigarettes, e-cigs, electronic nicotine delivery systems (ENDS), vaporizer cigarettes, and vape pens. Various smokers opt for electronic cigarettes as a way to stop or cut down on smoking. E-cigarettes do not contain tobacco, but many of them contain nicotine, which comes from tobacco. Because of this, the Food and Drug Administration (FDA) classifies them as "tobacco products”. E-cigarettes produce an aerosol by heating a liquid that usually contains nicotine—the addictive drug in regular cigarettes, cigars, and other tobacco products—flavorings, and other chemicals that help to make the aerosol. Users inhale this aerosol into their lungs. Bystanders can also breathe in this aerosol when the user exhales into the air. Electronic cigarette provides consumers with smoke and ashless vaping, thereby making it socially acceptable.
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The electronic cigarette is less harmful than a regular cigarette, which causes reduced health issues as compared to tobacco smoking thereby driving the market growth. Change in lifestyle and preferences, and increased affluence of people in emerging economies are further anticipated to drive the growth of the market. According to the Public Health England (PHE), electronic cigarettes are about 95% less harmful than tobacco cigarettes and can be dispensed as a licensed medicine as an alternative to anti-smoking products such as patches.
Electronic cigarette device is being recognized as a substitute for conventional cigarettes, as it offers benefits such as zero smoke, no pollution, reduces health-related problems, and can be smoked in public places. Thus, an increase in awareness about the harmful effects of tobacco cigarettes and reduced tar & carbon monoxide inhalation through electronic cigarettes are expected to drive the market growth. According to the report of the U.S. Food & Drug Administration, more than a quarter (27.6%) of current youth e-cigarette users use an e-cigarette product every day. More than 4 out of 10 youth e-cigarette users reported that they are using e-cigarettes for at least 20 of the last 30 days. Such huge usage of electronic cigarettes by the population of the country is expected to boost the growth of the electronic cigarette market in the country. Current users reported their usual brands as: Puff Bar (14.5%), Vuse (12.5%), Hyde (5.5%) and SMOK (4%). COVID-19 has also had substantial impacts on e-cigarette retail and consumers. For example, many retailers adapted to the pandemic by conducting business online, and many consumers now purchase goods online and use delivery services.
A report from the National Youth Tobacco Survey in the U.S.on tobacco product in 2019 indicated that use of flavors by current ENDS users was most prevalent among non-Hispanic white adolescents (77%) and similar among males (71%) and females (69%). All these factors coupled with the belief that e-cigarettes are less harmful than other tobacco products are expected to propel the growth of the market in the U.S.
Due to its many flavours and ease of purchase compared to conventional tobacco products, e-cigarette use among youngsters in the U.S. has increased over the past few years. For instance, the U.S. Food and Drug Administration reported that around 1 in 10 or more than 2.5 million American children used e-cigarettes in 2022. (past 30-days). According to a report by the Centers for Disease Control and Prevention, e-cigarettes are the tobacco product that young people in the United States use the most frequently. All of these elements, together with the notion that e-cigarettes are less dangerous than regular tobacco products, are anticipated to fuel market expansion in the U.S.
Because of the enhanced customer reach provided by the online sales channel, many businesses now rely heavily on it as a source of income. With the development of technology and the expansion of internet services, consumers are becoming more aware of the various societal buying habits. The technology is likely to affect how people buy items and is attractive to millennials and generation Z. The U.S. Census Bureau reported that the Census Bureau of the Department of Commerce estimated that U.S. retail e-commerce sales for the second quarter of 2022 were $257.3 billion, an increase of 2.7% (0.7%) from the first quarter of 2022, after being adjusted for seasonal variation but excluding price changes.
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Segmental Overview
The U.S electronic cigarette market is segmented on the basis of product type, flavor, and distribution channel. By product type, the market is divided into disposable, rechargeable, and modular. Flavor in electronic cigarette includes tobacco, botanical, fruit, sweet, beverage, and others. By distribution channel, the market is categorized into specialist e-cig shops, online, supermarkets, tobacconists, and others. On the basis of product type, the modular segment is expected to dominate the market during the forecast period owing to customization offered by it coupled with greater vapor volume, enabling the coil to draw more energy, allowing users to achieve even greater vapor volume. By flavor, the tobacco segment dominated the market during the forecast period since liquid improves the taste and reduces the side effects of tobacco products, making them more appealing and easier for beginners. Tobacco-flavored electronic cigarette liquids allow users to replicate some of the tastes they associate with tobacco cigarette smoking.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of current trends, estimations, and dynamics of the U.S. Electronic Cigarette market from 2021 to 2031 to identify the prevailing market opportunities.
- The Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market oppor.tunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
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