According to the business intelligence 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 products market which stood at a valuation of USD 34.80 billion in 2020, is estimated to garner a sizable revenue during 2021-2026.

Rising penetration of a variety of vaping devices combined with technological advancements, increasing awareness among masses regarding the harmful after-effects of conventional cigarettes, and higher disposable income levels are the major factors favoring global vapor products market growth.

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In addition, availability of various nicotine replacements products like nasal spray, lozenges, inhaler, gum, and nicotine patches among others will also act as a growth impetus for the industry in the forthcoming years. 

The onset of the Covid-19 pandemic in early 2020, and the ensuing lockdown restrictions across the globe negatively impacted product uptake because of lack of production, logistics issues, and supply shortages. As a result, numerous black-marketing activities began to gain momentum in the markets of North America and Europe, which were eventually vanquished with the rise of online sales channels over the past two years.

Moving on, worldwide vapor products industry is segregated in terms of product type, distribution channel, and regional terrain.

Based on product type, the E-vape segment is steadily gaining popularity in the present times, on the back of the availability of a variety of flavors and the option of customization. Meanwhile, the heat-not-burn segment is likely to grow at a robust pace during the study period, creditable to growing disposable income among masses.

From a regional frame of reference, North America, Europe, and Asia Pacific are the major avenues that contribute significantly to market revenue. A detailed analysis of each regional market in terms of current growth and performance forecast is entailed in the document to enable stakeholders gain perspective with regards to present dynamics and make informed decisions.

The competitive framework of global vapor products industry sphere is defined by key players such as Imperial Brands plc, NJOY LLC, Joyetech, Turning Point Brands Inc., Juul Labs Inc., Japan Tobacco Inc., British American Tobacco plc, Shenzhen IPV Vaping Technology Co. Ltd., and Smoore International Holdings Ltd. are the leading players influencing global vapor products market trends.