Executive Summary
The Global Vapor Product Market was valued at USD 34.80 billion in the year 2020. In order to help smokers quit cigarettes, a variety of nicotine replacement products have come to the market including nicotine patches, gum, inhaler, lozenges and nasal spray. A recent trend is a vaping device, which is being recognized as an alternative to conventional cigarettes. Factors such as awareness about the harmful effects of conventional cigarettes, reduced tar, and carbon monoxide inhalation through an electronic cigarette, growing disposable income and rise in technological developments by vaping manufacturers are driving the growth of the market.
The coronavirus pandemic of 2020 has impacted the growth of the vapour product market. The outbreak of the novel virus caused an adverse disruption on the overall economy through halted production and logistics activities, affecting the demand and supply of vape products, globally. The shortage has also resulted in numerous incidents of black marketing for these products in European and North American countries. In order to meet the rising demand for vape products, multiple vendors adopted unique marketing strategies and offered their products via online platforms to boost product sales.
As more consumers become aware of the hazardous effects of tobacco smoking, they are introduced to new and safer smoking devices, thereby increasing the demand for these products. Based on Product, the market is segmented into E-vapes, Heat-not-Burn and Others. The E-vapes segment is expected to be the fastest-growing segment. These devices are highly customizable and include a variety of flavours that allow users to adjust the vapour output according to their preference. Moreover, growing disposable income and a rise in technological developments are driving the market for Heat-not-burn products.
Key players operating in the global vapour market include Smoore International Holdings, Imperial Brands Plc, British American Tobacco, Japan Tobacco Inc. etc. To gain a significant share in the market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. The leading players are initiating to produce various e-liquid flavours in the market to cater to the evolving preferences of customers, thereby propelling the market growth.
Scope of the Report
- The report presents the analysis of the Vapor Product market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Vapor Product Market by Value (USD Million).
- The report analyses the Vapor Product Market by Product Type (E-Vape, Heat-not-burn Others).
- The report analyses the Vapor Product Market by Distribution Channel (Retail, E-Commerce)
- The Global Vape Product Market has been analysed by Region (Americas, Europe, Asia Pacific, MEA).
- The Global Vape Product Market has been analysed by Country (United States, Canada, United Kingdom, Germany, France, Spain, China, Japan, Australia, South Korea).
- The key insights of the report have been presented through the frameworks of SWOT Analysis, Porter Five Analysis, Supply Chain. Also, the attractiveness of the market has been presented by Region, by Product Type, by Distribution Channel.
- The report tracks competitive developments, strategies, the companies analysed in the report include Smoore International Holdings Limited, Imperial Brands, Plc., British American Tobacco, Japan Tobacco, Inc., Turning Point Brands, FirstUnion, Shenzhen IPV Vaping Technology Co., Ltd, JoyeTech, Juul Labs, NJOY
Key Target Audience
- Vaping Device Makers
- E-Cigarette Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities
Table of Contents
1. Report Scope and Methodology
- 1.1 Scope of the Report
- 1.2 Research Methodology
- 1.3 Executive Summary
2. Strategic Recommendations
3. Vapor Products Market: Product Overview
4. Global Vapor Products Market: An Analysis
- 4.1 Market Size, By Value, 2016-2026
- 4.2 Impact of COVID-19 on Vapor Products Market
- 4.3 Global Vapor Products Market
5. Global Vapor Products Market: Segment Analysis
- 5.1 Global Vapor Products Market Segmentation, By Product Type (Value)
- 5.2 Competitive Scenario of Vapor Products Market: By Product Type (2020 & 2026)
- 5.3 By E-Vape- Market Size and Forecast (2016-2026)
- 5.4 By Heat-not-Burn- Market Size and Forecast (2016-2026)
- 5.5 By Others- Market Size and Forecast (2016-2026)
6. Global Vapor Products Market: Segment Analysis
- 6.1 Global Vapor Products Market Segmentation, By Distribution Channel (Value)
- 6.2 Competitive Scenario of Global Vapor Products Market: By Distribution Channel Type (2020 & 2026)
- 6.3 By Retail- Market Size and Forecast (2016-2026)
- 6.4 By E-Commerce- Market Size and Forecast (2016-2026)
7. Global Vapor Products Market: Regional Analysis
- 7.1 Competitive Scenario of Global Vapor Products Market: By Region (2020 & 2026)
8. North America Vapor Products Market: An Analysis (2016-2026)
- 8.1 North America Vapor Products Market by value: Size and Forecast (2016-2026)
- 8.2 North America Vapor Products Market: Prominent Companies
- 8.3 North America Vapor Products Market: Segmental Analysis
- 8.4 Market Segmentation By Product Type (E-Vape, Heat-not-Burn, Others)
- 8.5 Market Segmentation By Distribution Channel (Retail, E-Commerce)
- 8.6 North America Vapor Products Market: Country Analysis
- 8.7 Market Opportunity Chart of Americas Vapor Products Market - By Country, By Value (Year-2026)
- 8.8 Competitive Scenario of Americas Vapor Products Market- By Country (2020 & 2026)
- 8.9 United States Vapor Products Market: Size and Forecast (2016-2026)
- 8.10 United States Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 8.11 Canada Vapor Products Market: Size and Forecast (2016-2026)
- 8.12 Canada Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
9. Europe Vapor Products Market: An Analysis (2016-2026)
- 9.1 Europe Vapor Products Market by value: Size and Forecast (2016-2026)
- 9.2 Europe Vapor Products Market: Prominent Companies
- 9.3 Europe Vapor Products Market: Segmental Analysis
- 9.4 Market Segmentation By Product Type (E-Vape, Heat-not-Burn, Others)
- 9.5 Market Segmentation By Distribution Channel (Retail, E-Commerce)
- 9.6 Europe Vapor Products Market: Country Analysis
- 9.7 Market Opportunity Chart of Europe Vapor Products Market - By Country, By Value (Year-2026)
- 9.8 Competitive Scenario of Europe Vapor Products Market- By Country (2020 & 2026)
- 9.9 United Kingdom Vapor Products Market: Size and Forecast (2016-2026)
- 9.10 United Kingdom Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 9.11 Germany Vapor Products Market: Size and Forecast (2016-2026)
- 9.12 Germany Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 9.13 France Vapor Products Market: Size and Forecast (2016-2026)
- 9.14 France Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 9.15 Spain Vapor Products Market: Size and Forecast (2016-2026)
- 9.16 Spain Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
10. Asia-Pacific Vapor Products Market: An Analysis (2016-2026)
- 10.1 Asia-Pacific Vapor Products Market by value: Size and Forecast (2016-2026)
- 10.2 Asia-Pacific Vapor Products Market: Prominent Companies
- 10.3 Asia-Pacific Vapor Products Market: Segmental Analysis
- 10.4 Market Segmentation By Product Type (E-Vape, Heat-not-Burn, Others)
- 10.5 Market Segmentation By Distribution Channel (Retail, E-Commerce)
- 10.6 Asia-Pacific Vapor Products Market: Country Analysis
- 10.7 Market Opportunity Chart of Asia-Pacific Vapor Products Market - By Country, By Value (Year-2026)
- 10.8 Competitive Scenario of Asia-Pacific Vapor Products Market- By Country (2020 & 2026)
- 10.9 China Vapor Products Market: Size and Forecast (2016-2026)
- 10.10 China Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 10.11 Japan Vapor Products Market: Size and Forecast (2016-2026)
- 10.12 Japan Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 10.13 South Korea Vapor Products Market: Size and Forecast (2016-2026)
- 10.14 South Korea Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
- 10.15 Australia Vapor Products Market: Size and Forecast (2016-2026)
- 10.16 Australia Vapor Products Market Segmentation By Product Type, By Distribution Channel (2016-2026)
11. Global Vapor Products Market Dynamics
- 11.1 Global Vapor Products Market Drivers
- 11.2 Global Vapor Products Market Restraints
- 11.3 Global Vapor Products Market Trends
12. Market Attractiveness and Strategic Analysis
- 12.1 Market Attractiveness Chart of Global Vapor Products Market - By Product Type (Year 2026)
- 12.2 Market Attractiveness Chart of Global Vapor Products Market - By Distribution Channel (Year 2026)
- 12.3 Market Attractiveness Chart of Global Vapor Products Market - By Region (Year 2026)
13. Competitive Landscape
- 13.1 Market Share of global leading companies
- 13.2 SWOT Analysis- Global Vapor Products Market
- 13.3 Porter Five Force Analysis- Global Vapor Products Market
- 13.4 Supply Chain Analysis-Global Vapor Products Market
14. Company Profiles (Business Description, Financial Analysis, Business Strategy)
- 14.1 Smoore International Holdings Pvt Ltd
- 14.2 Imperial Brands, Plc.
- 14.3 Japan Tobacco, Inc
- 14.4 British American Tobacco
- 14.5 Turning Point Brands
- 14.6 FirstUnion
- 14.7 Shenzhen IPV Vaping Technology Co., Ltd
- 14.8 JoyeTech
- 14.9 Juul Labs
- 14.10 NJOY
List of Figures
List of Figures
- Figure 1: Global Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 2: Global Adult Vaping Population(in millions), 2017-2021
- Figure 3: Global Vape Users, By Region, 2018 (in %)
- Figure 4: Penetration Rate in major e-cigarette market (in %), 2019
- Figure 5: Penetration rate of e-cigarettes by market size, (in %)
- Figure 6: Global Internet Penetration, 2021 (In %) Global Number of Internet Users, By Region, March 2021 (in %)
- Figure 7: Global Number of Internet Users, By Region, March 2021 (in %)
- Figure 8: Vaping Device Market, (in billion), 2019-2024e
- Figure 9: Vaping Device Demand for CBD and other medical usage, (in million), 2018-2024e
- Figure 10: E-cigarette market share breakdown, 2020
- Figure 11: E-cigarette market share breakdown, 2024e
- Figure 12: Global Vapor Products Market- By Product Type, 2020 & 2026
- Figure 13: Global Vapor Products Market- By E-vape, By Value (USD Million), 2016-2026
- Figure 14: Global Vapor Products Market- By Heat-Not-Burn, By Value (USD Million), 2016-2026
- Figure 15: Global Vapor Products Market- By Others, By Value (USD Million), 2016-2026
- Figure 16: Global Vapor Products Market- By Distribution Channel, Market Share, 2020 & 2026
- Figure 17: Global Vapor Products Market- By Retail, By Value (USD Million), 2016-2026
- Figure 18: Global Vapor Products Market- By Online Stores, By Value (USD Million), 2016-2026
- Figure 19: Global Vapor Products Market- By Region Market Share, 2020 & 2026
- Figure 20: North America Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 21: North America Age Distribution 2020 (in millions)
- Figure 22: North America Internet Penetration (% of total), By countries 2019
- Figure 23: North America Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 24: North America Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 25: Market Opportunity Chart of Americas Vapor Products Market- By Country, By Value (Year-2026)
- Figure 26: America Vapor Products Market- By Country Market Share, 2020 & 2026
- Figure 27: United States Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 28: Smoking Rates in United States, 2021
- Figure 29: Current e-cigarette use among middle and high school students, 2019-20
- Figure 30: United States Individuals using internet (% of total population) 2016-2020
- Figure 31: Retail Channels of e-cigarette market, 2020
- Figure 32: United States CBD Product Sales (USD Million), 2014-2019
- Figure 33: Tax on Vaping Products across United States, (% of wholesale price), 2019
- Figure 34: United States Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 35: United States Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 36: Canada Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 37: Total Smoking Rate in Canada, by gender (in %), 2021
- Figure 38: Most often used flavor in vapes, in Canada (in %), 2019
- Figure 39: Canada Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 40: Canada Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 41: Europe Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 42: Individuals using internet, European Union, (% of population), 2020
- Figure 43: Europe top 10 countries in Internet usage (in millions), 2019
- Figure 44: Europe Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 45: Europe Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 46: Market Opportunity Chart of Europe Vapor Products Market- By Country, By Value (Year-2026)
- Figure 47: Europe Vapor Products Market- By Country Market Share, 2020 & 2026
- Figure 48: United Kingdom Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 49: Individuals using Internet in United Kingdom (in % of total population) 2017-2019
- Figure 50: Prevalence of cigarette smoking in UK, (in %), 2015-2019
- Figure 51: Number of e-cigarette users in United Kingdom (in millions) 2016-2021
- Figure 52: United Kingdom Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 53: United Kingdom Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 54: Germany Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 55: Age distribution in Germany (in million), 2020
- Figure 56: Individuals using Internet in Germany (in % of total) 2017-2019
- Figure 57: Germany Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 58: Germany Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 59: France Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 60: Prevalence of Daily smokers vs current vapers( in %), 2015-2019
- Figure 61: Individuals using Internet in France (% of total ) 2015-2019
- Figure 62: France Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 63: France Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 64: Spain Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 65: Spain E-Cigarettes Consumption, by type and age, (in %), 2019
- Figure 66: Age distribution in Spain, by age bracket, (in million), 2020
- Figure 67: Individuals using Internet in Spain (% of total ) 2015-2019
- Figure 68: Spain Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 69: Spain Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 70: Asia Pacific Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 71: Asia Pacific Urban Population ( in % of total) 2016-2020
- Figure 72: Individuals using Internet in East-Asia and Pacific, excluding high income ( in % of total) 2016-2020
- Figure 73: Population by broad age group, Asia (in millions), 2020
- Figure 74: Volume of electronic cigarette and vaping sales in the Asia-Pacific Region, (in million units), 2019
- Figure 75: Asia-Pacific Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 76: Asia-Pacific Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 77: Market Opportunity Chart of APAC Vapor Products Market- By Country, By Value (Year-2026)
- Figure 78: APAC Vapor Products Market- By Country Market Share, 2020 & 2026
- Figure 79: China Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 80: China Urban Population (% of total), 2016-2020
- Figure 81: Tax on e-cigarette and Traditional Tobacco (in %), 2019
- Figure 82: China Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 83: China Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 84: Japan Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 85: Smoking Rates in Japan, 2021
- Figure 86: Individuals using Internet in Japan ( in % of total) 2016-2020
- Figure 87: Japan Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 88: Japan Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 89: South Korea Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 90: Smoking Rates in South Korea, 2021
- Figure 91: Current E-cigarette use prevalence, (in %), 2019
- Figure 92: Population by broad Age Group, (in millions), 2020
- Figure 93: Individuals using Internet in South Korea ( in % of total) 2016-2020
- Figure 94: Japan Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 95: South Korea Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 96: Australia Vapor Products Market Size, By Value, 2016-2026 (USD Million)
- Figure 97: Smoking Rates in South Korea, 2021
- Figure 98: Population by Broad Age Group, Australia, (USD million), 2020
- Figure 99: Australia Vapor Products Market- By Product Type, By Value (USD Million), 2016-2026
- Figure 100: Australia Vapor Products Market- By Distribution Channel, By Value (USD Million), 2016-2026
- Figure 101: Market Attractiveness Chart of Global Vapor Products Market- By Product Type (Year-2026)
- Figure 102: Market Attractiveness Chart of Global Vapor Products Market- By Distribution Channel (Year-2026)
- Figure 103: Market Attractiveness Chart of Global Vapor Products Market- By Region (Year-2026)
- Figure 104: Global E-Cigarettes Device Company market share, By Revenue, (%) 2020
- Figure 105: Market share of major e-vapor firms, 2019
- Figure 106: Dollar share of nicotine and e-cigarette sales in United States, by brand, 2020
- Figure 107: Smoore International Holdings Ltd., Annual Sales Revenue, 2016-2020 (USD Million)
- Figure 108: Smoore International Holdings Ltd., Net Profit, 2016-2020 (USD Million)
- Figure 109: Smoore International Holdings Ltd., Sales Revenue, By Operating Segments (%),
- Figure 110: Smoore International Holdings Ltd., Sales Revenue, By Geographical Segments (%), FY2020
- Figure 111: Imperial Brands Plc., Annual Sales Revenue, 2016-2020 (USD Million)
- Figure 112: Imperial Brands Plc., Net Profit, 2016-2020 (USD Million)
- Figure 113: Imperial Brands Plc., Sales Revenue, By Operating Segments (%), FY2020
- Figure 114: Imperial Brands Plc., Sales Revenue, By Geographical Segments (%), FY2020
- Figure 115: Japan Tobacco Inc., Annual Sales Revenue, 2016-2020 (USD Billion)
- Figure 116: Japan Tobacco Inc, Net Profit, 2016-2020 (USD Billion)
- Figure 117: Japan Tobacco Inc., Sales Revenue, By Operating Segments (%), FY2020
- Figure 118: Japan Tobacco Inc., Sales Revenue, By Geographical Segments (%), FY2020
- Figure 119: British American Tobacco, Annual Sales Revenue, 2016-2020 (USD Million)
- Figure 120: British American Tobacco, Net Profit, 2016-2020 (USD Million)
- Figure 121: British American Tobacco, Sale Revenue, By Business Segments (%), FY2020
- Figure 122: British American Tobacco, Sales Revenue, By Geographical Segment (%),FY2020
- Figure 123: Turning Point Brands, Inc., Annual Sales Revenue, 2016-2020 (USD Million)
- Figure 124: Turning Point Brands, Inc., Net Income, 2016-2020 (USD Million)
- Figure 125: Turning Point Brands, Inc., Sales Revenue, By Operating Segments (%) FY2020
- Figure 126: Turning Point Brands, Inc., Sales Revenue, By Operating Segments (%), FY2019