E-cigarette & Vaporizer Market Projected to Lead USD 49.0 Billion, at
a CAGR 23.6% by 2024
The global e-cigarette & vaporizer market is segmented into product type such as
disposable e-cigarette, rechargeable e-cigarette, e-go and tanks e-cigarette,
personal vaporizers & mods and others. In this segment, rechargeable e-cigarette
segment is projected to grow at remarkable pace over the forecast period.
Increasing development and innovation of vapor technology is expected to drive
the demand for rechargeable e-cigarette segment over the forecast period.
Global e-cigarette & vaporizer market is expected to flourish at a significant CAGR
of 23.6% over the forecast period. Further, the global e-cigarette & vaporizer
market was valued at USD 9.1 Billion in 2016 and is expected to reach USD 49.0
Billion by the end of 2024. Moreover, the global e-cigarette & vaporizer market is
projected to expand due to the rising number of cancer cases due to cigarette
consumption. Apart from this, increasing number of individuals wanting to quit
smoking is anticipated to boost the growth of global e-cigarette & vaporizer market
in upcoming years.
In the regional market, North America dominated the overall e-cigarette &
vaporizer market and is expected to continue its dominance over the forecast
period. Growing disposable income, rising number of e-cigarette & vaporizer
stores is anticipated to accelerate the growth of global e-cigarette & vaporizer
market in North America. Asia Pacific e-cigarette & vaporizer market is anticipated
to witness robust growth during the forecast period. Further, increasing healthcare
awareness in the developed regions is believed to positively impact the growth of
the e-cigarette & vaporizer market in Asia Pacific.
Advancement in E-cigarette Technology
Growing innovation & development of e-cigarette & vaporizer technology, as an
alternative to traditional cigarettes to decreas