The e-cigarette market size is valued at USD 17,231.2 million in 2021 and is expected to grow at a significant CAGR of 14.1% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the market and that can be segmented By Product, Distribution Channel, Composition, and Region. By Product, the E-cigarette market has been segmented into Disposable, Rechargeable, Modular Devices. The disposable segment is likely to be the largest and fastest-growing segment in terms of product type. Based on distribution channel, the E-cigarette market is segmented into Specialist e-cig shops, Online Stores, Supermarkets, Others. Among these, the Specialist e-cig shops segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on composition, the E-cigarette market is segmented into Nicotine, Nicotine Free. Nicotine is expected to dominate the market in the future according to Precision Business Insights.
In September 2020, Japan Tobacco Inc. announced its partnership with Sauber Engineering AG, a prototype and technology developer. Through this partnership, the companies would continue to collaborate on developing engineering projects to increase the performance of Japan Tobacco Inc. products.