E-cigarette and Vape Market size was valued at USD 36.41 billion in 2024 and is set to exceed USD 1.12 trillion by 2037, expanding at over 30.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of e-cigarette and vape is evaluated at USD 45.21 billion.
The reason behind the growth is the surging use of e-cigarette and vape by customers. According to the National Library of Medicine released in the year 2023, the global lifetime and current prevalence of e-cigarette and vape in women were 16% and 8%, respectively. Also, the lifetime and current prevalence of e-cigarette and vape in men were 22% and 12%, respectively.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
30.2% |
Base Year Market Size (2024) |
USD 36.41 billion |
Forecast Year Market Size (2037) |
USD 1.12 trillion |
Regional Scope |
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Product (Disposable, Rechargeable, Modular Devices)
Rechargeable segment is expected to dominate over 45% e-cigarette and vape market share by 2037. The increasing use of rechargeable vaping is because of its non-toxic components than regular tobacco cigarettes.
According to current research of the National Institute on Drug Abuse in 2023, switching from traditional cigarettes to rechargeable vaping as a full replacement appears to be less dangerous for smokers.
Distribution Channel (Retail Shop, Online)
By 2037, retail shop segment is set to capture over 80% e-cigarette and vape market share. The retail shop market will grow till 2037, reaching a valuation of USD 8.26 billion. This expansion will be noticed because vape goods and e-cigarettes are aggressively sold by big retail chains including Tesco, Walmart, and Target.
According to a study done by the National Library of Medicine, 68.6% of young adults reported having seen media or advertising for e-cigarettes in the previous 30 days in the year 2023. These ads were mostly found on social media (43.4%) and in retail (31.7%), and exposure to these ads was linked to e-cigarette usage.
Our in-depth analysis of the global e-cigarette and vape market includes the following segments:
Product |
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Category |
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Distribution Channel |
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Flavor |
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Mode of Operation |
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North American Market Statistics
North America industry is predicted to hold largest revenue share of 40% by 2037. The region’s e-cigarette and vape sector is thriving, because the younger population in this region is accepting vaping as a safer option. According to the National Library of Medicine published in 2023, eighty-three percent of North American teenagers who were using at the time reported using flavored e-cigarettes, and 38.9% said they used them at least twenty days a month.
The market for dry cleaning and laundry services has expanded in the U.S. as a result of the rising use of e-cigarette and vape in nicotine people. In the United States, high school students' current use rates peaked in 2019 at 27.5% and then dropped to 19.6% in 2020.
The Canadian e-cigarette and vape development mainly lies in the increasing craze in adolescents. In Canada, the rates of lifetime and current use of EC among teenagers reached 37% and 14.6%, respectively, in 2023.
European Market Analysis
The Europe region will encounter massive revenue that will massively and will acquire the second position in the e-cigarette and vape market, owing to the rising number of users in the European region. According to the National Library of Medicine, teenagers in seven locations in Western Europe reported lifetime EC usage at 35.5% (from 23% in Germany to over 50% in Italy and Belgium), while 17.2% reported current CC use. Of these adolescents, 6.6% reported EC current use (i.e., monthly or more regularly).
e-cigarette and vape is especially in actual demand in the U.K., driven by the rising sales of online e-cigarette and vape. In the three years after the company's founding, the number of workers has expanded from five to 28, according to one online shop, whose turnover climbed by 500% between their first and second year of business.
In France, e-cigarette and vape will encounter massive growth because of the increasing sales of e-liquids and vaporizers in this country. According to Research Nester’s report, it is found that almost half of nicotine addicted people between 45% and 50% make their e-liquid mixes.
Germany will also notice a huge growth in e-cigarette and vape because of the increasing use of disposable e-cigarette and vape. In Germany, the proportion of people between the ages of 16 and 29 who say they have ever used e-cigarettes rose from 11% in 2023 to 18%
Leading companies are concentrating on enhancing the features and specifications of e-cigarette and vape in addition to forming alliances, mergers, and acquisitions to broaden their product offerings. A few of the key players in the e-cigarette and vape market are:
Author Credits: Abhishek Verma
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