According to the research report titled ‘E-Cigarette Market Size By Composition (Nicotine, Non-Nicotine), By Product (Disposable, Modular, Rechargeable), By Type (Automatic, Manual), By Distribution Channel (Hypermarket/Supermarket, Online, Vape Shops/Tobacconist), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global e-cigarette market size is expected to surpass USD 9 billion threshold between 2020-2026.
 

Surging prices of traditional cigarettes and increasing efforts by consumers to quit smoking are key factors driving global e-cigarette market expansion. As per a survey by New England Journal of Medicine, approximately 18% of smokers who shifted to e-cigarettes stopped smoking within a year.
 

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Notably, e-cigarettes prevent the intake of chemicals present in tobacco smoke and decrease the harmful effects of smoking. Rising awareness about harmful effects of smoking such as poor dental hygiene, mouth cancer, and lung damage among others along with their perception of e-cigarettes being a safer alternative will aid industry growth.
 

While the launch of smoking cessation campaigns by governments of various countries and introduction of innovative products by leading companies will facilitate revenue inflow, risks associated with vaping, and stringent approval outlook will act as challenges in this business sphere.
 

As per product gamut, global e-cigarette market share from rechargeable devices segment is projected to expand significantly between 2020-2026. The refilling feature of rechargeable e-cigarettes along with availability of vast variety of flavors are contributing towards this growth. 
 

Speaking of type, automatic e-cigarette segment is anticipated to grow considerably between 2020-2026 due to affordable nature, and longer battery life as compared to traditional alternatives. These devices offer a more realistic and pleasurable experience to consumers since there is no need to press a button and active the heating element which will facilitate expansion of this segment.
 

Moving on to distribution channel, online segment is estimated to record lucrative growth trends between 2020-2026 due to availability of wide variety of options, high discounts offered by companies, and personalized delivery facility. Customers can place an order from any location and track their product as well.
 

Regionally speaking, Europe held majority of global e-cigarette market share in the recent past owing to increasing product adoption, launch of innovative products by leading companies, and efforts by key players to encourage people to shift from traditional cigarettes to electronic smoking alternatives.
 

Key players profiled in the market report are Shenzhen Kanger Technology Co. Ltd., Gamucci Electronic Cigarettes, Philip Morris International Inc., Juul Labs Inc., MojoTech LLC, Ballantyne Brands LLC, Njoy LLC, British American Tabacco plc, Shenzhen IVPS Technology Co. Ltd., Eleaf, FIN Branding Group LLC, Nicquid LLC, Imperial Brands PLC, Japan Tobacco Inc., and International Vapor Group Inc.