The e-cigarette and t-vapor market revenue is accounted for USD 18,945.6 million in 2021 and is poised to grow at a significant CAGR of 10.5% over 2022-2028. E-cigarettes are battery-operated electronic cigarettes that are less hazardous than regular cigarettes. In recent decades, the tobacco business has been transformed by an electronic cigarette, which is often regarded as a safe substitute for traditional cigarettes. Traditional smokers can get a wider variety of flavors and superior vaping items. The rise of the stores is propelling the e-cigarette sector in the future. Electronic smoking devices are sold and advertised on a variety of social media platforms. Manufacturers of vaping devices are promoting and selling the products through specialized in-store hubs in grocery stores, larger retail establishments, and kiosks. Many cigarette businesses are opening their own stores to provide customers with a vaping experience like that seen in nightclubs. Due to the strict rules surrounding the sale and distribution of e-cigarettes, many sellers are choosing online channels as their preferred distribution method over retail stores. Furthermore, over the projected period, manufacturers’ focus on customizing options as well as constant development of new products is expected to fuel market expansion. Furthermore, the devices’ cost-effectiveness has enhanced client adoption.
Recent Market Developments:
In Aug 2021, In Japan, Philip Morris International introduced the new IQOS ILUMA to help accelerate the transition to a smoke-free future. The new IQOS ILUMA is the brand’s first tobacco-heating device to feature induction heating, which eliminates the need for a blade and eliminates the need for cleaning.