The report presents a new perspective on the opportunities and challenges of major changes in the e-cigarette market after Covid-19.
Electronic Cigarette-Global Market Trajectory and Analysis
On June 2nd, GIA, a global industry analysis company, released a new market research report titled “Electronic Cigarette-Global Market Trajectory and Analysis”. The report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
GIA predicts that in the Corona Virus pandemic, the global e-cigarette market is estimated at 14.1 billion U.S. dollars in 2020, and the scale is expected to reach 22.5 billion U.S. dollars in 2026, growing at a compound annual growth rate of 8.3% during the analysis period.
The e-cigarette market will continue to grow in different countries around the world
The U.S. e-cigarette market is estimated to be US$4.9 billion by 2021. China is the second largest economy in the world. It is estimated that by 2026, the market size is expected to reach 5.1 billion U.S. dollars, with a compound annual growth rate of 9.4% during the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 7.6% and 6.9%, respectively, during the analysis period.
In Europe, Germany is expected to grow at a compound annual growth rate of approximately 6.7%. The growth of these markets will be supported by factors such as cost-effectiveness, the presence of well-known brands, product customization, growing health issues, increased demand for ash-free and smoke-free e-cigarettes, an increase in the number of designated stores and e-cigarette stores, and expected health benefits…
Changes in consumer preferences will boost the growth of the e-cigarette market
In addition to the launch of new products, the decline in cigarette consumption, and the increasing popularity of next-generation products (NGPs), changes in preferences and lifestyles, and different tastes will also stimulate growth. Providing simple and powerful distribution channels, especially e-commerce platforms and online websites, is a major trend worth noting. These channels provide market participants with opportunities to expand their business globally and locally.