APO RESEARCH · REPORT
E-cigarettes and Vaping
E-cigarette is a kind of electronic product that imitates cigarette. It has the same appearance, smoke, taste and feeling as cigarette. It is a kind of product that can be inhaled by users after nicotine is turned into steam by means of atomization.
Product & engineering
Understand the product.
E-cigarette is a kind of electronic product that imitates cigarette. It has the same appearance, smoke, taste and feeling as cigarette. It is a kind of product that can be inhaled by users after nicotine is turned into steam by means of atomization.
Electronic cigarette is composed of atomizer, control chip and battery. When the electronic cigarette is working, the liquid of the electronic cigarette is transferred to the atomization room, and then connected through the smoking air switch, and then the control chip (lithium battery drive) controls the heating of the atomization room to generate the vapor fog simulating the smoke, so as to meet the pleasure of smokers and the psychological habits developed for many years.
Selected research
Industry Research
E-cigarettes and Vaping Industry Research Report 2026
Market perspective
E-cigarette is a kind of electronic product that imitates cigarette. It has the same appearance, smoke, taste and feeling as cigarette. It is a kind of product that can be inhaled by users after nicotine is turned into steam by means of atomization.
Electronic cigarette is composed of atomizer, control chip and battery. When the electronic cigarette is working, the liquid of the electronic cigarette is transferred to the atomization room, and then connected through the smoking air switch, and then the control chip (lithium battery drive) controls the heating of the atomization room to generate the vapor fog simulating the smoke, so as to meet the pleasure of smokers and the psychological habits developed for many years.
There are two main types of E-cigarettes and Vaping products: with and without display screen. Among them, the largest proportion is without display screen. In 2019, the market share is about 87%, accounting for more than half of the total market.
Read the full market overview
North America is the main sales area, accounting for about 42% of the global total sales. In the U.S. market, e-cigarettes are mainly occupied by large manufacturers affiliated to large multinational tobacco companies. Altria Group、Imperial Tobacco、ReynoldsAmerican、Japan Tobacco Inc and other well-known multinational tobacco companies have set up e-cigarette field, accounting for about 70-80% of the market space.
Report Scope
This report quantifies the global E-cigarettes and Vaping market in terms of revenue (US$ million) and, where applicable, sales volume (K Units), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of Types and Applications, harmonizes vendor attribution, and presents comparable time series by company, Type, Application, and region/country, including indicative price bands (US$/K Units) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for brand owners, manufacturers, retailers, channel partners, and investors; data are structured with consistent units and fields to facilitate integration into internal FP&A and BI systems.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
E-cigarettes and Vaping Market by Company
Imperial Tobacco
ReynoldsAmerican
Japan Tobacco Inc.
Altria Group
VMR Product
Njoy
21st Century
Vaporcorp
Truvape
Shenzhen First Union Technology Co.,Ltd.
BUDDY
Guangdong Jeray Technology Group Co.,Ltd.
Innokin
Smoore
SMOK
Hangsen Group
E-cigarettes and Vaping Segment by Type
Without Screen
With Screen
E-cigarettes and Vaping Segment by Application
Online
Offline
E-cigarettes and Vaping Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global E-cigarettes and Vaping market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of E-cigarettes and Vaping and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of E-cigarettes and Vaping.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc.), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of E-cigarettes and Vaping manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of E-cigarettes and Vaping by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of E-cigarettes and Vaping in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Without Screen
- With Screen
Applications
- Online
- Offline
Companies covered
- Imperial Tobacco
- ReynoldsAmerican
- Japan Tobacco Inc.
- Altria Group
- VMR Product
- Njoy
- 21st Century
- Vaporcorp
- Truvape
- Shenzhen First Union Technology Co.,Ltd.
- BUDDY
- Guangdong Jeray Technology Group Co.,Ltd.
- Innokin
- Smoore
- SMOK
- Hangsen Group
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Global Market Growth Prospects
- 2.2.1 Global E-cigarettes and Vaping Market Size (2021-2032)
- 2.2.2 Global E-cigarettes and Vaping Sales (2021-2032)
- 2.2.3 Global E-cigarettes and Vaping Market Average Price (2021-2032)
- 2.3 E-cigarettes and Vaping by Type
- 2.3.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Without Screen
- 2.3.3 With Screen
- 2.4 E-cigarettes and Vaping by Application
- 2.4.1 Market Value Comparison by Application (2021 VS 2025 VS 2032)
- 2.4.2 Online
- 2.4.3 Offline
3 Market Competitive Landscape by Manufacturers
- 3.1 Global E-cigarettes and Vaping Market Competitive Situation by Manufacturers (2021 Versus 2025)
- 3.2 Global E-cigarettes and Vaping Sales (K Units) of Manufacturers (2021-2026)
- 3.3 Global E-cigarettes and Vaping Revenue of Manufacturers (2021-2026)
- 3.4 Global E-cigarettes and Vaping Average Price by Manufacturers (2021-2026)
- 3.5 Global E-cigarettes and Vaping Industry Ranking, 2024 VS 2025 VS 2026
- 3.6 Global Manufacturers of E-cigarettes and Vaping, Manufacturing Sites & Headquarters
- 3.7 Global Manufacturers of E-cigarettes and Vaping, Product Type & Application
- 3.8 Global Manufacturers of E-cigarettes and Vaping, Established Date
- 3.9 Global E-cigarettes and Vaping Market CR5 and HHI
- 3.10 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Imperial Tobacco
- 4.1.1 Imperial Tobacco Company Information
- 4.1.2 Imperial Tobacco Business Overview
- 4.1.3 Imperial Tobacco E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.1.4 Imperial Tobacco E-cigarettes and Vaping Product Portfolio
- 4.1.5 Imperial Tobacco Recent Developments
- 4.2 ReynoldsAmerican
- 4.2.1 ReynoldsAmerican Company Information
- 4.2.2 ReynoldsAmerican Business Overview
- 4.2.3 ReynoldsAmerican E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.2.4 ReynoldsAmerican E-cigarettes and Vaping Product Portfolio
- 4.2.5 ReynoldsAmerican Recent Developments
- 4.3 Japan Tobacco Inc.
- 4.3.1 Japan Tobacco Inc. Company Information
- 4.3.2 Japan Tobacco Inc. Business Overview
- 4.3.3 Japan Tobacco Inc. E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.3.4 Japan Tobacco Inc. E-cigarettes and Vaping Product Portfolio
- 4.3.5 Japan Tobacco Inc. Recent Developments
- 4.4 Altria Group
- 4.4.1 Altria Group Company Information
- 4.4.2 Altria Group Business Overview
- 4.4.3 Altria Group E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.4.4 Altria Group E-cigarettes and Vaping Product Portfolio
- 4.4.5 Altria Group Recent Developments
- 4.5 VMR Product
- 4.5.1 VMR Product Company Information
- 4.5.2 VMR Product Business Overview
- 4.5.3 VMR Product E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.5.4 VMR Product E-cigarettes and Vaping Product Portfolio
- 4.5.5 VMR Product Recent Developments
- 4.6 Njoy
- 4.6.1 Njoy Company Information
- 4.6.2 Njoy Business Overview
- 4.6.3 Njoy E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.6.4 Njoy E-cigarettes and Vaping Product Portfolio
- 4.6.5 Njoy Recent Developments
- 4.7 21st Century
- 4.7.1 21st Century Company Information
- 4.7.2 21st Century Business Overview
- 4.7.3 21st Century E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.7.4 21st Century E-cigarettes and Vaping Product Portfolio
- 4.7.5 21st Century Recent Developments
- 4.8 Vaporcorp
- 4.8.1 Vaporcorp Company Information
- 4.8.2 Vaporcorp Business Overview
- 4.8.3 Vaporcorp E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.8.4 Vaporcorp E-cigarettes and Vaping Product Portfolio
- 4.8.5 Vaporcorp Recent Developments
- 4.9 Truvape
- 4.9.1 Truvape Company Information
- 4.9.2 Truvape Business Overview
- 4.9.3 Truvape E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.9.4 Truvape E-cigarettes and Vaping Product Portfolio
- 4.9.5 Truvape Recent Developments
- 4.10 Shenzhen First Union Technology Co.,Ltd.
- 4.10.1 Shenzhen First Union Technology Co.,Ltd. Company Information
- 4.10.2 Shenzhen First Union Technology Co.,Ltd. Business Overview
- 4.10.3 Shenzhen First Union Technology Co.,Ltd. E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.10.4 Shenzhen First Union Technology Co.,Ltd. E-cigarettes and Vaping Product Portfolio
- 4.10.5 Shenzhen First Union Technology Co.,Ltd. Recent Developments
- 4.11 BUDDY
- 4.11.1 BUDDY Company Information
- 4.11.2 BUDDY Business Overview
- 4.11.3 BUDDY E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.11.4 BUDDY E-cigarettes and Vaping Product Portfolio
- 4.11.5 BUDDY Recent Developments
- 4.12 Guangdong Jeray Technology Group Co.,Ltd.
- 4.12.1 Guangdong Jeray Technology Group Co.,Ltd. Company Information
- 4.12.2 Guangdong Jeray Technology Group Co.,Ltd. Business Overview
- 4.12.3 Guangdong Jeray Technology Group Co.,Ltd. E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.12.4 Guangdong Jeray Technology Group Co.,Ltd. E-cigarettes and Vaping Product Portfolio
- 4.12.5 Guangdong Jeray Technology Group Co.,Ltd. Recent Developments
- 4.13 Innokin
- 4.13.1 Innokin Company Information
- 4.13.2 Innokin Business Overview
- 4.13.3 Innokin E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.13.4 Innokin E-cigarettes and Vaping Product Portfolio
- 4.13.5 Innokin Recent Developments
- 4.14 Smoore
- 4.14.1 Smoore Company Information
- 4.14.2 Smoore Business Overview
- 4.14.3 Smoore E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.14.4 Smoore E-cigarettes and Vaping Product Portfolio
- 4.14.5 Smoore Recent Developments
- 4.15 SMOK
- 4.15.1 SMOK Company Information
- 4.15.2 SMOK Business Overview
- 4.15.3 SMOK E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.15.4 SMOK E-cigarettes and Vaping Product Portfolio
- 4.15.5 SMOK Recent Developments
- 4.16 Hangsen Group
- 4.16.1 Hangsen Group Company Information
- 4.16.2 Hangsen Group Business Overview
- 4.16.3 Hangsen Group E-cigarettes and Vaping Sales, Revenue and Gross Margin (2021-2026)
- 4.16.4 Hangsen Group E-cigarettes and Vaping Product Portfolio
- 4.16.5 Hangsen Group Recent Developments
5 Global E-cigarettes and Vaping Market Scenario by Region
- 5.1 Global E-cigarettes and Vaping Market Size by Region: 2021 VS 2025 VS 2032
- 5.2 Global E-cigarettes and Vaping Sales by Region: 2021-2032
- 5.2.1 Global E-cigarettes and Vaping Sales by Region: 2021-2026
- 5.2.2 Global E-cigarettes and Vaping Sales by Region: 2027-2032
- 5.3 Global E-cigarettes and Vaping Revenue by Region: 2021-2032
- 5.3.1 Global E-cigarettes and Vaping Revenue by Region: 2021-2026
- 5.3.2 Global E-cigarettes and Vaping Revenue by Region: 2027-2032
- 5.4 North America E-cigarettes and Vaping Market Facts & Figures by Country
- 5.4.1 North America E-cigarettes and Vaping Market Size by Country: 2021 VS 2025 VS 2032
- 5.4.2 North America E-cigarettes and Vaping Sales by Country (2021-2032)
- 5.4.3 North America E-cigarettes and Vaping Revenue by Country (2021-2032)
- 5.4.4 United States
- 5.4.5 Canada
- 5.4.6 Mexico
- 5.5 Europe E-cigarettes and Vaping Market Facts & Figures by Country
- 5.5.1 Europe E-cigarettes and Vaping Market Size by Country: 2021 VS 2025 VS 2032
- 5.5.2 Europe E-cigarettes and Vaping Sales by Country (2021-2032)
- 5.5.3 Europe E-cigarettes and Vaping Revenue by Country (2021-2032)
- 5.5.4 Germany
- 5.5.5 France
- 5.5.6 U.K.
- 5.5.7 Italy
- 5.5.8 Russia
- 5.5.9 Spain
- 5.5.10 Netherlands
- 5.5.11 Switzerland
- 5.5.12 Sweden
- 5.5.13 Poland
- 5.6 Asia Pacific E-cigarettes and Vaping Market Facts & Figures by Country
- 5.6.1 Asia Pacific E-cigarettes and Vaping Market Size by Country: 2021 VS 2025 VS 2032
- 5.6.2 Asia Pacific E-cigarettes and Vaping Sales by Country (2021-2032)
- 5.6.3 Asia Pacific E-cigarettes and Vaping Revenue by Country (2021-2032)
- 5.6.4 China
- 5.6.5 Japan
- 5.6.6 South Korea
- 5.6.7 India
- 5.6.8 Australia
- 5.6.9 Taiwan
- 5.6.10 Southeast Asia
- 5.7 South America E-cigarettes and Vaping Market Facts & Figures by Country
- 5.7.1 South America E-cigarettes and Vaping Market Size by Country: 2021 VS 2025 VS 2032
- 5.7.2 South America E-cigarettes and Vaping Sales by Country (2021-2032)
- 5.7.3 South America E-cigarettes and Vaping Revenue by Country (2021-2032)
- 5.7.4 Brazil
- 5.7.5 Argentina
- 5.7.6 Chile
- 5.8 Middle East and Africa E-cigarettes and Vaping Market Facts & Figures by Country
- 5.8.1 Middle East and Africa E-cigarettes and Vaping Market Size by Country: 2021 VS 2025 VS 2032
- 5.8.2 Middle East and Africa E-cigarettes and Vaping Sales by Country (2021-2032)
- 5.8.3 Middle East and Africa E-cigarettes and Vaping Revenue by Country (2021-2032)
- 5.8.4 Egypt
- 5.8.5 South Africa
- 5.8.6 Israel
- 5.8.7 Türkiye
- 5.8.8 GCC Countries
6 Segment by Type
- 6.1 Global E-cigarettes and Vaping Sales by Type (2021-2032)
- 6.1.1 Global E-cigarettes and Vaping Sales by Type (2021-2032) & (K Units)
- 6.1.2 Global E-cigarettes and Vaping Sales Market Share by Type (2021-2032)
- 6.2 Global E-cigarettes and Vaping Revenue by Type (2021-2032)
- 6.2.1 Global E-cigarettes and Vaping Sales by Type (2021-2032) & (US$ Million)
- 6.2.2 Global E-cigarettes and Vaping Revenue Market Share by Type (2021-2032)
- 6.3 Global E-cigarettes and Vaping Price by Type (2021-2032)
7 Segment by Application
- 7.1 Global E-cigarettes and Vaping Sales by Application (2021-2032)
- 7.1.1 Global E-cigarettes and Vaping Sales by Application (2021-2032) & (K Units)
- 7.1.2 Global E-cigarettes and Vaping Sales Market Share by Application (2021-2032)
- 7.2 Global E-cigarettes and Vaping Revenue by Application (2021-2032)
- 7.2.1 Global E-cigarettes and Vaping Sales by Application (2021-2032) & (US$ Million)
- 7.2.2 Global E-cigarettes and Vaping Revenue Market Share by Application (2021-2032)
- 7.3 Global E-cigarettes and Vaping Price by Application (2021-2032)
8 Value Chain and Sales Channels Analysis of the Market
- 8.1 E-cigarettes and Vaping Value Chain Analysis
- 8.1.1 E-cigarettes and Vaping Key Raw Materials
- 8.1.2 Raw Materials Key Suppliers
- 8.1.3 E-cigarettes and Vaping Production Mode & Process
- 8.2 E-cigarettes and Vaping Sales Channels Analysis
- 8.2.1 Direct Comparison with Distribution Share
- 8.2.2 E-cigarettes and Vaping Distributors
- 8.2.3 E-cigarettes and Vaping Customers
9 Global E-cigarettes and Vaping Analyzing Market Dynamics
- 9.1 E-cigarettes and Vaping Industry Trends
- 9.2 E-cigarettes and Vaping Industry Drivers
- 9.3 E-cigarettes and Vaping Industry Opportunities and Challenges
- 9.4 E-cigarettes and Vaping Industry Restraints
10 Report Conclusion
11 Disclaimer
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