According to the Market Statsville Group (MSG), the global smart e-cigarette market size is expected to grow from USD 506.57 million in 2022 to USD 18,808.87 million by 2033, growing at a CAGR of 38.9% from 2023 to 2033. The smart e-cigarette is a battery-operated device that emits a vaporized solution to inhale and can be connected with Android and IOS processor. Concerns about traditional cigarettes among people of all ages have fueled demand for substantially less hazardous smart e-cigarettes and vape goods. Market manufacturers are releasing a variety of e-liquid tastes to respond to changing client preferences, consequently supporting market growth. However, because e-cigarettes are frequently connected with traditional cigarettes, they are subject to criticism, which is predicted to limit market expansion. On the contrary, the adoption of smart tech such as consumer can monitor their consumption via application will create a significant growth opportunity in the forecast period.
An E-cigarette, also known as a vape, e-cig, or e-hookah, is a battery-powered smoking device that produces inhaled vapors by heating a liquid solution to a high temperature. E-liquid (solution) contains nicotine, chemicals, flavoring, and humectant substances which are used to create the aerosol when heated. E-cigarettes and vaping machines are considered a safer alternative to cigarettes since they contain less nicotine than normal cigarettes.
Some e-cigarettes resemble traditional cigarettes or cigars, while others resemble USB flash drives, pens, and other items. Large tobacco companies have thrived by introducing these devices under different brands that cater to different needs, thereby improving product quality and level of customization. Furthermore, new e-cigarette technologies such as pod systems and quonk mods have grown in popularity in recent years.
COVID-19 positively impacted the smart e-cigarette market in the US region during the pandemic. For instance, according to the Centers for Disease Control and Prevention (CDC) data, from February 2020 to March 2021, total e-cigarette sales increased by nearly 50% (from 14.8 million units to 22 million units). Sales of flavored e-cigarettes increased by 64%. Furthermore, from February 2020 to March 2021, sales of menthol-flavored e-cigarettes increased by 42% (from 6.4 million to 9 million units). As of March 2021, menthol e-cigarette sales accounted for 41% of the e-cigarette market. The rising consumption of e-cigarettes has paved the way for the adoption of smart-e-cigarette, as it allows users to manage the consumption pattern and monitor their usage.
Moreover, the online sales of tobacco are prohibited, hence during the global lockdown and disrupted supply chains, people shifted their preference towards e-cigarettes or smart e-cigarettes available on online channels, and smart e-cigarette offers customized or personalized vaping experience increasing smart e-cigarette adoption during the pandemic. Smart e-cigarettes are actively catering to the needs of the active vapes, thereby positively impacting the market's growth amid COVID-19.
The conventional smoking method heart disease, causes cancer, lung diseases, stroke, diabetes, and chronic obstructive pulmonary disease (COPD), including emphysema and chronic bronchitis. Smoking also increases the risk for certain eye diseases, tuberculosis, and immune system problems, including rheumatoid arthritis. For instance, according to the American Cancer Society's data, Smoking causes about 20% of all cancers and about 30% of all cancer deaths in the United States, rising the demand for a smart e-cigarette to manage the consumption pattern.
The adoption of a smart electronic cigarette, a device comprising a battery, an atomizer, and an inhaler, connects to an android/ IOS system, thereby driving the market's growth. Moreover, this device is recognized as an alternative to conventional cigarettes due to its advantageous properties such as zero smoke, no pollution, reduced health-related problems, and can be smoked in public places. Hence, the consumption of reduced tar and carbon monoxide inhalation through a smart electronic cigarette, promoting the growth of the market over the forecasting period across the country.
The government and its regulations are a major roadblock in the growth of the market in the country. The Food and Drug Administration (FDA) has undergone 93 percent of the applications submitted of e-cigarette-related products. The FDA has rejected 946,000 flavored products, prohibiting them from being marketed or sold. As they do not contain the required material or may contain more harmful chemicals, which may result in harmful effects on the health. This factor will restrain the growth of the market in the country.
Additionally, the government also focuses on marketing activities and managing the consumption of smart e-cigarettes in the country to reduce nicotine or tobacco consumption among the youth and prevent the death rate from increasing at an alarming rate. For instance, the US Food and Drug Administration issued a warning to JUUL Labs Inc. for marketing unauthorised, modified risk tobacco products through labelling, advertising, or other consumer-facing activities, including a presentation to youth at a school. This will hinder the growth of the suppliers in the region, which will negatively impact on the market's growth.
The increasing adoption of smart e-cigarette among the youths will create a lucrative opportunity for the market's growth and enable the major market players to enhance their market presence in the country over the forecasting period. The consumption of smart e-cigarette has increased among middle and high school students across the country at a higher rate, promoting the market's growth over the forecasting period.
The personalized vaporizers or smart e-cigarettes and the penetration of advanced models provide enhanced user experience in vaping. This will cater to the needs of the most active and regular vapers among the young generation, thereby enhancing the market growth. Additionally, these vaporizers allow a high degree of customization by which the consumer can keep track of the amount of vapor, battery strength, and amount of nicotine consumed, among other wide range of features offered by the smart e-cigarettes. The manufacturers' wide range of products and services has led to the smart e-cigarette market evolving and emerging, especially among youngsters. This will elevate the market's growth in forthcoming years across the country.
The study categorizes the smart e-cigarette market based on type, and application area at the regional and global levels.
Based on the application, the market is divided into online and offline. The offline segment is expected to dominate the market share in 2022 in the global smart e-cigarette market. The offline segment currently dominates the market share in the smart e-cigarette market. E-cigarettes were formerly sold in retail settings such as vape shops and petrol stations. These shops assisted customers in selecting from a wide range of equipment and e-liquids. Vape shops allow customers to try out and test these devices before making a purchase choice, which contributes to the growth of the retail store category throughout the forecast period.
Moreover, Retail stores allow customers to try out numerous e-liquid flavors and check the various kinds of vaporizers available in the market. Users choose to visit these retail stores to make these purchases. As a result, the popularity of retail stores is increasing across the globe.
Based on the regions, the global smart e-cigarette market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The presence of powerful corporate heavyweights such as R.J. Social media platforms are frequently used to sell e-cigarettes and vaping products. Due to the fact that the young generation has predominantly chosen vaping devices as safer alternatives to cigarettes, it is expected that the use of the product will increase in the near future. Nevertheless, it is projected that the United States’ present prohibitions on several e-cigarette tastes, especially fruit and mint flavors, hinder market growth in the region. Moreover, the young population has mainly accepted vaping devices as a safer alternative to cigarettes, and the market in North America has benefited from their expanding popularity. This has also boosted the market growth in this region over the forecast period.
The smart e-cigarette market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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