The increased knowledge of e-cigarettes being safer than traditional cigarettes, particularly among the younger population, drives the growth of the global electronic cigarette market. Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the global aircraft tires market.

According to the report Market Research, the global electronic cigarette market generated $17.3 billion in 2020, and is projected to reach $94.3 billion by 2030, witnessing a CAGR of 16.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The increased knowledge of e-cigarettes being safer than traditional cigarettes, particularly among the younger population, drives the growth of the global electronic cigarette market. However, side effects of e-cigarettes restrain the growth to some extent. On the other hand, players' continual improvement in new product development present new opportunities in the upcoming years.

COVID-19 impact analysis on the Electronic Cigarette Market

The COVID-19 pandemic disrupted the sales of electronic cigarettes through general stores, which resulted in shift of consumers toward online sales channels to purchase consumer electronic products, thus driving the growth of online sales in e-cig products.
However, with ease in lockdown restrictions and improved logistics, the consumer goods industry is expected to grow.

Based on product, the modular segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 17.5% from 2021 to 2030. 

Based on flavor, the tobacco segment held the largest market share in 2020, holding more than one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 18.2% from 2021 to 2030.