According to a research report titled ‘Global E-Cigarettes Market Size by Product Type (Disposable, Rechargeable, and Modular), by Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, and Others) and by Distribution Channel (Specialist E-Cig Shops, Online, Supermarkets, Tobacconist, and Others) and Regional Forecasts 2021-2027.’, available with Market Study Report, global e-cigarettes market was worth USD 17.14 billion in 2020 and is expected to attain a valuation of USD 31.75 billion by the end of the forecast period 2021-2027, registering a CAGR of 9.2% throughout.
 

As per the report findings, rising demand for safer alternatives to normal cigarettes is acting as a major impetus for worldwide e-cigarettes market growth. Furthermore, availability of various flavors, and cost effectiveness of these products as compared to traditional cigarettes are positively swaying the industry outlook.
 

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For the unversed, electronic cigarettes are battery operated devices which allow inhalation of a vaporized nicotine solution. The objective is to create a sensation similar to that of smoking traditional tobacco cigarettes without inhaling actual smoke.
 

On the downside, regulations imposed on sale of e-vaping products in countries such as India and the U.S. are likely to hamper market development in the upcoming years.
 

Based on flavor, global e-cigarettes market is split into fruit, tobacco, sweet, botanical, beverage and others. By distribution channel, the industry segmentation comprises specialist e-cig shops, supermarkets, tobacconist, online and others.
 

Moving on to product type, the business vertical is arrayed into rechargeable, disposable, and modular. Among these, the modular segment houses several opportunities for market growth, owing to the advantage of high-level of customizability that allows users to combine & alter flavors using device settings, which are available in several price ranges.
 

From a regional frame of reference, North America market accounted for over 40% of the total market share in 2020. This can be attributed to the presence of leading industry players across the region.
 

Meanwhile, Asia Pacific market is projected to grow at a remarkable rate owing to increasing exports of e-cigarettes from countries such as China, which facilitates bulk buying from online platforms.
 

Key players profiled in global e-cigarettes market report are Shenzhen IVPS Technology Co. Ltd., R. J. Reynolds Vapor Company, Philip Morris International Inc., Juul Labs Inc., NicQuid LLC, Japan Tobacco Inc., International Vapor Group Inc., Imperial Brands plc, British American Tobacco plc, and Altria Group Inc.