E-cigarette And Vape Market Size

The global e-cigarette and vape market size was valued at USD 18.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 30.0% from 2022 to 2030. The rising awareness about e-cigarettes being safer than traditional cigarettes, especially among the younger population, is anticipated to further drive the market growth due to various studies carried out by medical institutions and associations. The array of customization features such as temperature control and nicotine concentrations offered by the vendors is expected to aid the product demand. Moreover, developing e-cigarette technologies such as pod systems and disposable vape mods have increased popularity in recent years and user adoption.