Smokeless Cigarettes Market Growth & Trends
The global smokeless cigarettes market size is expected to reach USD 93.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.0% from 2022 to 2030. The growing concerns over the harmful effect of tobacco-based cigarettes among various age groups have increased the demand for relatively less-toxic e-cigarettes and vape products, which is expected to bolster the market growth. According to an article published in BMJ Journal in 2019, approximately 20.8% of U.S. youth and 4.5% of U.S. adults are current e-cigarette users.
Furthermore, COVID-19-based marketing and digital sales strategies post-pandemic is also expected to support the market growth. According to an article published in Campaign for Tobacco-Free Kids, in May 2020, various e-cigarettes maker and vape shops promoted their products by offering free giveaways such as protective masks and 19% off nicotine e-liquids by entering the code COVID-19. Therefore, over the forecast period, the use of vape devices is expected to increase, especially among recreational smokers and smokers working to stop smoking altogether.
The electric segment was the largest revenue-generating segment in 2021 and is expected to maintain dominance in the forecast period. The increasing adoption of trendy lifestyles among consumers has led to the growth of smokeless cigarettes and other related products and forms. According to an article published in KPI6, in July 2021, approximately 64% of men are primarily involved in the conversation about e-cigarettes and vaping. Another key factor contributing to the rapid growth of e-cigarettes is the consumer shift from nicotine-based products to smoke-free cigarettes, which is expected to accelerate the market growth.
The offline distribution channel dominated the market in 2021. The convenient shopping experience of having various products, forms, and flavors of e-cigarettes in a single place is the primary driver for consumers to visit their nearby stores including supermarkets, hypermarkets, convenience stores, and others. Furthermore, the allowance of consumers to first check and then buy these devices through the above-mentioned stores will help the segment adapt well to the market growth.
Major players in the market include a combination of a few established players and many small players. Some of these are JUUL Labs Inc, British American Tobacco Plc, RELX Technology Co Ltd, Imperial Brands Plc, Japan Tobacco Inc, Shenzhen Joye Technology Co Ltd, Shenzhen IVPS Technology Co Ltd, Shenzhen Kanger Technology Co Ltd, Shenzhen Eigate Technology Co Ltd, Flavourart srl. Key players in this market face intense competition from each other as some of them are among the top manufacturers and have a large customer base for their products in both regional and international markets.
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Smokeless Cigarettes Market Report Highlights
North America dominated the market and accounted for the largest revenue share in 2021. The increasing launches of flavored cigarettes in the U.S. will support the market in the region
The electric segment is projected to register faster growth during the forecast period as these products have advanced and programmable functions, such as temperature control
The online segment is predicted to become the fastest growing segment during the forecast period owing to easy doorstep delivery services
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