Global E-Cigarette Market (Vape & HNB): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

Global E-Cigarette Market (Vape & HNB): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

  • Koncept Analytics
  • September 2020
  • Retail
  • 99 pages

Report Description


The global e-cigarette market is forecasted to reach US$76.82 billion in 2024, growing at a CAGR of 18.51% for the period spanning 2020-2024. The factors such as increasing working population, rising market share of e-cigarettes, decreasing cigarette consumption, shift towards next generation products, mounting-up prices of tobacco cigarettes and peer influence on youngsters are expected to drive the market. However, growth of the industry would be challenged by nicotine exposure in e-cigarette and stringent regulations. Few notable trends include emergence of flavored e-cigarettes, technological advancements, increasing switch towards e-cigarettes, robust growth of vapor devices and high demand for rechargeable vape products in developed nations. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the healthcare concerns among the population has surged rapidly.

The global e-cigarette market is broadly classified into vape (works by vaporising the liquid into nicotine-containing aerosol for users to inhale) and HNB (heats tobacco for users to inhale) devices. High demand for rechargeable, atomizer and disposable based open, worldwide, has helped vape devices to remain at leading position in 2019.

The fastest growing regional market is the U.S. owing to decrease in smoking population, growth in product launch and rise in vape shops.

Scope of the report:

  • The report provides a comprehensive analysis of the global e-cigarette market, segmented into Vape and HNB.
  • The major markets (the U.S., Europe, China and Japan) have been analysed.
  • The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Imperial Brands Plc, British American Tobacco Plc, Japan Tobacco Inc., Altria Group, Inc., Philip Morris International Inc. and Turning Point Brands, Inc.) are also presented in detail.

Key Target Audience:

  • E-Cigarette Manufacturers
  • Raw Material/Component Suppliers
  • End Users
  • Consulting Firms
  • Investment Banks
  • Government Bodies & Regulating Authorities

Have query on this report?

Make an Enquiry

Table of Content

1. Market Overview
1.1 Introduction
1.2 Classification
1.3 Anatomy & Mechanism
1.4 Risks
1.5 Benefits

2. Impact of COVID-19
2.1 Introduction
2.2 Key Players Initiatives
2.3 Regional Markets

3. Global E-Cigarette Market Analysis
3.1 Global E-Cigarette Market Value
3.2 Global E-Cigarette Market Value Forecast
3.3 Global E-Cigarette Market Value by Segments
3.3.1 Global Vape Market Value 
3.3.2 Global Vape Market Value Forecast 
3.3.3 Global Vape Market Value by Segments 
3.3.4 Global Closed Vape Systems Market Value 
3.3.5 Global Closed Vape Systems Market Value Forecast 
3.3.6 Global Open Vape Systems Market Value 
3.3.7 Global Open Vape Systems Value Forecast 
3.3.8 Global HNB Market Value Forecast
3.4 Global E-Cigarette Market Penetration by Country
3.5 Global E-Cigarette Market by Region

4. Regional E-Cigarette Market Analysis
4.1 The U.S.
4.1.1 The U.S. E-Cigarette Market Value 
4.1.2 The U.S. E-Cigarette Market Value Forecast 
4.2 Europe
4.2.1 Europe E-Cigarette Market Value 
4.2.2 Europe E-Cigarette Market Value Forecast 
4.3 China
4.3.1 China E-Cigarette Market Value 
4.3.2 China E-Cigarette Market Value Forecast 
4.4 Japan
4.4.1 Japan E-Cigarette Market Value 
4.4.2 Japan E-Cigarette Market Value Forecast 

5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Working Population
5.1.2 Rising Market Share of E-Cigarettes
5.1.3 Decreasing Cigarette Consumption 
5.1.4 Shift towards Next Generation Products
5.1.5 Mounting-Up Prices of Tobacco Cigarettes
5.1.6 Peer Influence on Youngsters
5.2 Key Trends and Developments
5.2.1 Emergence of Flavored E-Cigarettes 
5.2.2 Technological Advancements
5.2.3 Increasing Switch towards E-Cigarettes 
5.2.4 Robust Growth of Vapor Devices
5.2.5 High Demand for Rechargeable Vape Products in Developed Nations
5.3 Challenges
5.3.1 Nicotine Exposure in E-Cigarette 
5.3.2 Stringent Regulations

6. Competitive Landscape
6.1 Global E-Cigarette Market 
6.1.1 Key Players – Revenues Comparison 
6.1.2 Key Players – Market Cap Comparison 
6.1.3 Key Players – Vape Market Share by Brands
6.1.4 Key Players – HNB Market Share by Brands
6.2 The U.S. E-Cigarette Market 
6.2.1 Key Players – Market Revenue Share by Brands
6.2.2 Key Players – Market Volume Share by Brands
6.3 China E-Cigarette Market 
6.3.1 Key Players – Vape Market Share
6.3.2 Key Players – HNB Market Share

7. Company Profiles
7.1 Imperial Brands Plc
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 British American Tobacco Plc
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategies
7.3 Japan Tobacco Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategies
7.4 Altria Group, Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategies
7.5 Philip Morris International Inc.
7.5.1 Business Overview
7.5.2 Financial Overview
7.5.3 Business Strategies
7.6 Turning Point Brands, Inc.
7.6.1 Business Overview
7.6.2 Financial Overview
7.6.3 Business Strategies


List of Tables

Vape vs HNB 
E-Cigarette Flavours & Nicotine Strengths
Number of Calls to Poison Control Centre in the U.S. (2012-2018)
Global E-Cigarette Regulations (2019-2020)
Key Players – Revenues Comparison (2019)

Success Stories

Our Clients

Tell Us What You Need and We’ll Get Back with the Best Solutions Available.


get in touch

Location :

State Tower, 90 State Street, Suite 700, Albany NY - 12207, United States

Call Us :

US/Canada toll free : 866-997-4948

Tel : +1-518-621-2074