Semiconductors & Electronics Industry E-cigarette Market Outlook and Overview 2024 | Page 2

Your CatalystTo a Lucrative Business
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 acc ount of increase in
disposable incomes and smokers’ population in these regions. Asia Pacific market was valued at USD 946.2
million in 2016 and is expected to grow rapidly during the forecast period. The growth of the market in Asia
Pacific region is subjected to factors such as product availability and increasing awareness regarding the ill -
effects associated with traditional (tobacco rolled) cigarettes in countries such as India, Malaysia, and China.
The electronic cigarettes market has been segmented on the basis of products such as modular, rechargeable
and disposable e-cigarettes. Among these, modular e-cigarettes are popular among consumers, followed by
rechargeable and disposable. Modular e-cigarettes provide flexibility in flavors, besides improved inhaling
experience which gives greater satisfaction to the user.
Companies are focusing on diversifying their portfolio by offering flavors, aesthet ic properties, and
nonhazardous ingredients to end users. By acquiring Lorillard in 2014, Reynolds American has become largest
vendor in the North American market. The acquisition created a competition to Altria, a well -established
player in the market. The deal united some notable cigarette brands, such as American Spirit, Pall Mall,
Newport, and Camel.
Hexa Research has segmented the global e-cigarette market based on product and region:
Segmentation by product, 2014 - 2024 (USD Million)
• Disposables
• Rechargeable
• Modular
Segmentation by region, 2014 - 2024 (USD Million)
• North America
• Europe
• Asia Pacific
• ROW
Key players analyzed:
• Altria Group Inc.
• British American Tobacco Plc.
• Japan Tobacco Inc.
• Imperial Brands Plc.
• Phillip Morris International Inc.
• Reynolds American Inc.
• VMR Products LLC
• Nicotek LLC
• Njoy Inc.
• International Vapor Group
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/electronic-
devices-industry
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