The report “Global E-cigarettes Industry” has been released by Reportlinker.com and shows that the global e-cigarette market is set to reach USD 24.6 billion by 2027, reports Yahoo Finance.

The report shows that the global e-cigarette market was valued at USD 14.1 billion in 2020 and is expected to grow at a CAGR of 8.3 per cent reaching USD 24.6 billion by 2027. According to the report, modular, one of the segments analysed, is projected to record a 8.7 per cent CAGR and reach USD 13 billion by the end of the analysis period (2020 to 2027). The rechargeable segment was readjusted to a revised 7.8 per cent CAGR for the period due to the post-COVID-19 recovery, reports Yahoo Finance.
The US market of e-cigarettes alone was estimated at USD 4.7 billion in 2020. China, which is the world’s second largest economy, is expected to reach a market size of USD 5.6 billion with a CAGR of 9.4 per cent by 2027. Also noted in the report are Japan and Canada which are forecast to grow at 7.6 per cent and 6.9 per cent respectively by 2027. With regard to Europe, Germany is forecast to grow at approximately 6.7 per cent CAGR, according to the report.
The report goes on to mention the disposable segment, where the US, Canada, Japan, China and Europe will drive the 8.1 per cent CAGR estimated for this segment. These regional markets are estimated to reach a projected size of USD 1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets, reports Yahoo Finance.