U.S. electronic cigarette Market is likely to experience a significant growth rate of 16.1% from 2022-2031

U.S. electronic cigarette market -AMR

owing to increasing market demand from the media and entertainment industry – Allied Market Research

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, December 14, 2023 /EINPresswire.com/ — U.S. Electronic Cigarette Market is Expected to Reach $34,137.3 million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “U.S. Electronic Cigarette Market by Product Type, Flavor, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2022–2031,” The U.S. Electronic Cigarette market size was valued at $6,698.9 million in 2020, and is projected to reach $34,137.3 million by 2031, growing at a CAGR of 16.1% from 2022 to 2031.

The U.S. electronic cigarette market was valued at $6,698.9 million in 2020 and is projected to reach $34,137.3 million by 2031, registering a CAGR of 16.1% from 2022 to 2031. An electronic cigarette is a handheld device that tries to create the feeling of tobacco smoking. It is a battery-operated device, which heats a liquid to generate an aerosol, commonly called a vapor, for the user to inhale. The liquid inside the electronic cigarette is usually made of nicotine, propylene glycol, glycerin, or other flavorings. There are different types of electronic cigarettes available in the market, which includes modular, rechargeable, and disposable.

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E-cigarettes do not contain tobacco, but many of them contain nicotine, which comes from tobacco. Because of this, the Food and Drug Administration (FDA) classifies them as “tobacco products”. E-cigarettes produce an aerosol by heating a liquid that usually contains nicotine—the addictive drug in regular cigarettes, cigars, and other tobacco products—flavorings, and other chemicals that help to make the aerosol. Users inhale this aerosol into their lungs. Bystanders can also breathe in this aerosol when the user exhales into the air.

Electronic cigarette device is being recognized as a substitute for conventional cigarettes, as it offers benefits such as zero smoke, no pollution, reduces health-related problems, and can be smoked in public places. Thus, an increase in awareness about the harmful effects of tobacco cigarettes and reduced tar & carbon monoxide inhalation through electronic cigarettes are expected to increase the U.S. electronic cigarette industry size.

According to the report of the Centers for Disease Control and Prevention, e-cigarettes are the most commonly used tobacco product among youth in the U.S. from September 14, 2014–May 17, 2020, total e-cigarette sales increased by 122.2%, from 7.7 million to 17.1 million units per 4-week interval in the U.S. To prevent the epidemic of electronic cigarette (e-cigarette) use in youth, the U.S. Food and Drug Administration (FDA) announced the e-cigarette flavor enforcement policy on January 2, 2020, and implemented it on 6 February 2020, to prohibit the sale and distribution of cartridge-based flavored e-cigarette products (except for tobacco and menthol flavors) in the U.S.

There has been a huge adoption of e-cigarettes among consumers as a substitute to stop smoking since it is less harmful as compared to cigarettes and fulfills the requirement of nicotine of the consumer. According to the report of the Centers for Disease Control and Prevention in 2020, 3.7% of U.S. adults currently used e-cigarettes. In 2019, among current adult e-cigarette users overall, 36.9% also currently smoked cigarettes, 39.5% formerly smoked cigarettes, and 23.6% had never smoked cigarettes. According to an article by the Australian Tobacco Harm Reduction Association, the long-term risk from vaping is at least 95% less than from smoking. According to an article by the National Library of Medicine, the U.S. e-cigarettes were more effective for smoking cessation than nicotine-replacement therapy, when both products were accompanied by behavioral support. Thus, an increase in awareness about the harmful effects of tobacco cigarettes and reduced tar & carbon monoxide inhalation through electronic cigarettes are expected to drive the U.S. electronic cigarette market growth.

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The U.S. electronic cigarette market is segmented on the basis of product type, flavor, and distribution channel. By product type, the market is divided into disposable, rechargeable, and modular. Flavor in electronic cigarette includes tobacco, botanical, fruit, sweet, beverage, and others. By distribution channel, the market is categorized into specialist e-cig shops, online, supermarkets, tobacconists, and others.

On the basis of product type, the modular segment is expected to dominate the U.S. electronic cigarette market share during the forecast period, owing to customization offered by it coupled with greater vapor volume and enabling the coil to draw more energy, allowing users to achieve even greater vapor volume.

By flavor, the tobacco segment dominated the market during the forecast period, since liquid improves the taste and reduces the side effects of tobacco products, making them more appealing and easier for beginners. Tobacco-flavored electronic cigarette liquids allow users to replicate some of the tastes they associate with tobacco cigarette smoking.

On the basis of distribution channels, specialist e-cig shops dominated the market during the forecast period, since they have an exclusive collection of electronic cigarette devices and other accessories. The rise in the middle-class population and surge in disposable income has led to increased annual spending on electronic cigarette devices through specialist e-cig shops

The key players profiled in the study included are Altria Inc., British American Tobacco P.L.C., Geekvape, Imperial Brands PLC, Japan Tobacco Inc., Njoy, Inc., Shenzhen Eigate Technology Co., Ltd., Shenzhen IVPS Technology Co. Limited, Swisher, and White Cloud Electronic Cigarettes. The players in the market have been actively engaged in the adoption of various strategies such as acquisition, product launch, agreement, partnership, and business expansion to remain competitive and gain an advantage over the competitors in the market.

Key findings of the study

The U.S. electronic cigarette market was valued at $6,698.9 million in 2020 and is projected to reach $34,137.3 million by 2031, registering a CAGR of 16.1% from 2022 to 2031.
Based on product type, the modular segment accounted for the highest market share in 2020, growing at a CAGR of 16.7% from 2022 to 2031.
Based on flavor, the tobacco segment accounted for the highest market share in 2020, growing at a CAGR of 16.7% from 2022 to 2031.
Based on the U.S. Electronic Cigarette market distribution channel segment, the specialist e-cig shops segment accounted for the highest market share in 2020, growing at a CAGR of 16.6% from 2022 to 2031.

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Originally published at https://www.einpresswire.com/article/675044422/u-s-electronic-cigarette-market-is-likely-to-experience-a-significant-growth-rate-of-16-1-from-2022-2031

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