According to a report,“U.S. E-cigarette And Vape Market Size, Share & Trends Analysis Report By Component, By Distribution Channel, By Product (Rechargeable, Disposable, Modular), And Segment Forecasts, 2019 – 2025″, published by Grand View Research, Inc.,
The U.S. e-cigarette and vape market size is expected to reach USD 18.5 billion by 2025, exhibiting a CAGR of 24.1% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The ability of e-cigarettes to reduce exposure to potentially toxic substances is expected to drive the market over the forecast period. Another factor that is expected to drive the market is that health hazards associated with electronic smoking and vaping devices are relatively lower as compared to conventional tobacco cigarettes.
Changing lifestyle and preferences of adult smokers bodes well for the U.S. market. Adult smokers who are addicted to smoking but are willing to quit the habit are shifting from conventional tobacco cigarettes to electronic variants, thereby driving the adoption of the latter over the forecast period.
Electronic smoking devices and products claim to minimize the risk of cancer usually posed by conventional cigarettes. Moreover, vaping devices do not have any smoke associated with them, which means, they pose fewer health risks to passive smokers. Electronic smoking devices also help in reducing the volume of cigarette litter and ash.
Advances in technology are allowing vendors to offer electronic smoking products in a wide range of flavors. While vendors are focusing on effective promotions by offering attractive discounts, particularly on online purchases of e-cigarettes, vaping shops are allowing users, particularly first-time users, to get acquainted with the concept of electronic smoking products and devices and try out different flavors before making a purchase. All these initiatives are contributing to rising product adoption.
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Further key findings from the study suggest:
The rechargeable product segment is expected to exhibit a CAGR of 24.6% and emerge as the largest segment over the forecast period. Apart from being cheaper, the rechargeable product variant offers additional cartridge replacement and refill options and a stronger sense of flavor
The emerging trend of “do it yourself” (DIY) e-liquid bodes well for manufacturers by reducing the overall cost of production and for consumers by allowing to customize the e-liquid
Retail stores, also known as vape shops, are gaining popularity throughout U.S. as customers prefer testing different e-cigarettes and vaporizers and trying out different flavors before making a purchase
Key market participants include Altria Group, Inc.; R.J. Reynolds Vapor Company; Philip Morris International Inc.; Japan Tobacco Inc.; and Imperial Brands.
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Grand View Research has segmented the U.S. e-cigarette and vape market on the basis of product, component, and distribution channel:
U.S. E-cigarette and Vape Product Outlook (Revenue, USD Million, 2014 – 2025)
U.S. E-cigarette and Vape Component Outlook (Revenue, USD Million, 2014 – 2025)
U.S. E-cigarette and Vape Distribution Channel Outlook (Revenue, USD Million, 2014 – 2025)
Specialty E-cigarette Stores
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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