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E-cigarette Market Share, Trend,Growth, Outlook, Research and
Forecasts to 2024 | Hexa Research
“ The global e-cigarette market is set to reach USD 44.55 billion by 2024.”
27 November 2018
The global e-cigarette market is set to reach USD 44.55 billion by 2024, driven by the rising consumer
demand for resource competent vaping products. The growth for e-cigarette market is prominently being
driven by growing health awareness and environment-friendly usage. Need for the alternative product as a
result of rising taxes on traditional cigarettes (tobacco rolled) and its products has been one of the factors
driving the growth of the electronic cigarette industry.
Emerging factors such as increasing awareness about harmful effects of traditional cigarettes, improving
lifestyle, and growing e-commerce business are expected to upsurge the growth of the market for the
forecast period. In addition, various mergers and acquisitions are also expected to fuel the market growth.
For instance, in 2012, a merger took placed between tobacco giant Lorillard and U.S.-based e-cigarette
company Blue Ecigs, which helped them to roll out their own brands by leveraging the technology
possessed by Blu Ecigs.
The e-cigarette vendors are introducing a variety of flavors which differs from menthol to the fusion of fruits
and flavoring substances. These flavors are becoming a differentiator for vendors.
The market for e-cigarettes in North America and Europe is projected to grow on account of increase in
disposable incomes and smokers’ population in these regions. Asia Pacific market was valued at USD
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