Every year, eight million people die from tobacco use, with 1.2 million of these deaths being a result of the inhalation of second-hand smoke, says the World Health Organization (WH0).
Thus, the dangers of conventional cigarettes for those who smoke them and even for those who do not are to be a key factor behind the increase in the global e-cigarette market size from $15.7 billion in 2019 to $39.0 billion by 2030, at a 9.2% CAGR during 2020–2030.
This is because apart from nicotine, the key neurostimulant, tobacco contains more than 4,000 other harmful chemicals that cause asthma, chronic bronchitis, and lung cancer. Therefore, the e-cigarette market is growing on account of the promotion of such products as a less-harmful variant than conventional cigarettes; the liquid in such devices, called the e-juice, does not contain tobacco. Moreover, e-cigarettes do not contain butts or create ash, therefore are considered environment-friendly as well.
Key Findings of Global E-Cigarette Industry
- Younger generation getting attracted to vivid e-cigarette designs and flavors
- E-cigarettes finding widespread acceptance in public places where conventional cigarettes are banned
- Vaporizers remain most-popular products
- Demand for e-cigarettes rising faster among females
- Market opportunities galore in North America and Asia-Pacific (APAC)
- Market players engaging in extensive online product promotion
P&S Intelligence – March 15, 2021.
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