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WORLD

Global e-cigarette market on the rise

07 Oct 2021. The global e-cigarette market is expected to reach USD 84.43 billion in 2025, progressing at a CAGR of 17.65 per cent, over the period 2021-2025, according to a report by Research and Markets.

Growth in the e-cigarette market has accrued due to the changing consumer perception towards combustible cigarettes, upsurge in working population, decline in consumption of cigarettes, mounting-up prices of tobacco cigarettes and peer influence on youngsters, the report said.

The market is anticipated to experience certain trends like upswing in Gen Z income, emergence of flavoured e-cigarettes, increasing influence of social media and rise in technological developments by e-cigarette manufacturers. However, the growth of the market would be challenged by stringent regulations, nicotine exposure in e-cigarettes and surging concerns over side effects of e-cigarettes and vapor products.

According to the report, the fastest growing regional market is the US due to increasing awareness of safer tobacco alternatives, continuous efforts of anti-smoking organisations shifting the tobacco consumers to alternative forms i.e., e-cigarettes and increased customer acceptance due to cost-efficiency of these devices.

Further, the sudden outbreak of COVID-19 is causing an adverse disruption on the overall economy through halted production and logistics activities, affecting the demand and supply of e-cigarettes across the world, the report said.