According to the recent research report titled ‘Global Vapor Products Market - Analysis By Product Type (E-Vape, Heat-not-Burn, Others), Distribution Channel, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global vapor market was worth USD 34.80 billion in 2020 and is expected to grow significantly through 2026.

The growth of global vapor market is primarily driven by availability of multiple nicotine replacement products, including an inhaler, nasal spray, nicotine patches, gum, inhaler, and lozenges to help smokers break their smoking habits. Other factors fueling the market expansion are surging disposable income, rapid technological developments, and growing awareness about harmful aspects of cigarettes, tar, and carbon monoxide inhalation from conventional smoking.

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Based on segmentation, global vapor marketplace is classified by product type, distribution channels, and regional analysis.

Further based on product type, the industry is bifurcated into heat-non-burn, E-vapes, and others. The E-vapes segment is likely to be the fastest-growing segment during the study period, given that these gadgets are highly configurable and available in a variety of flavors, further allowing users to customize as per their preference.

On the other hand, the Heat-not-Burn segment is also expected to generate lucrative returns in the ensuing years, owing to the rising disposable income and technological advancements.

In terms of regional analysis, the global vapor market extends to North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

The leading companies operating in global vapor market are Shenzhen IPV Vaping Technology Co. Ltd., Njoy Vapor Products LLC, Juul Labs Inc., Smoore International Holdings Pvt. Ltd., Imperial Brands plc, Japan Tobacco Inc., British American Tobacco plc, and Turning Point Brands Inc.