Study says e-cigarette market will reach $140.1 billion by 2029

According to news today, on May 10, the global e-cigarette market is expected to grow at a compound annual growth rate of 29.90% during the forecast period, with an estimated value increasing from $17.28 billion in 2021 to $140.09 billion by 2029.

Growing awareness of consumer safety, smoke-free, and ash-free tobacco alternatives, along with the introduction of new and innovative e-cigarette devices, is expected to drive the adoption of e-cigarettes. E-cigarettes eliminate carcinogens and prevent the inhalation of over 4,000 chemicals produced during the combustion of traditional cigarettes. Continuous technological advancements are also propelling the growth of the e-cigarette market.

E-cigarettes are often compared to traditional cigarettes, which can lead to criticism and hinder market growth.

The global e-cigarette market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Asia-Pacific region is the fastest-growing area, driven by the increasing popularity of e-cigarette devices in the region. North America is expected to remain the primary market throughout the forecast period.