Market research firm GIA today released a new market research report entitled “Electronic Cigarettes – Global Market Trajectory and Analysis,” according to a foreign news release. The report offers a fresh perspective on the opportunities and challenges in the e-cigarette market after the onset of the new crown.

Global E-Cigarette Market to Reach $22.5 Billion by 2026

E-cigarettes are electronic devices used to convert liquid into vapor in an atomizer. Tobacco vapor products and e-cigarettes feel and look just like traditional cigarettes. However, they release less toxic chemicals than tobacco cigarettes, making them a safe alternative to tobacco cigarettes. A key factor driving the growth of the global market is the popularity and growth of e-cigarette devices. Technological advancements and innovations may drive the development of next-generation or advanced products.

In the new crown crisis, the global e-cigarette market is estimated at $15.6 billion in 2022 and is expected to reach a revised size of $24.6 billion by 2026, growing at a CAGR of 8.3% during the analysis period.

The U.S. market is projected to be $5.3 billion in 2022, while China is expected to reach $5.1 billion by 2026

The U.S. e-cigarette market is expected to reach $5.3 billion in 2022. The country currently accounts for 33.72% of the global market. The U.S. is one of the largest markets for e-cigarettes.

China, the world’s second largest economy, is expected to reach a market size of $5.1 billion by 2026, growing at a CAGR of 9.4% throughout the analysis period.

Other notable geographic markets include Japan and Canada, which are expected to grow at 7.6% and 6.9%, respectively, over the analysis period.

In Europe, Germany is expected to grow at a CAGR of approximately 6.7%, while other European markets (as defined in the study) will reach $1.8 billion by the end of the analysis period.

Market growth is supported by the entry of major players from pharmaceutical, tobacco and other leading industries.

In addition to launching new brands, leading tobacco companies are making acquisitions to increase their market share. Europe is another major market for e-cigarettes due to the early use of t-vapor products.

Asia Pacific is expected to be a fast-growing market for e-cigarettes, driven by urbanization rates and population growth.

Disposable e-cigarette market to reach USD 2 billion by 2026

Of the global disposable e-cigarette market, the U.S., Canada, Japan, China, and Europe are expected to drive the market at a CAGR of 7.8%. The total market size for these regional markets is $1.1 billion and is expected to reach $1.9 billion by the end of the analysis period.

China will continue to be one of the fastest growing countries in this regional market cluster.

Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach $2.5 billion by 2026.