APO RESEARCH · REPORT
E-cigarette
An electronic cigarette or e-cigarette is a handheld electronic device which vaporizes a flavored liquid. The user inhales the vapor. Using e-cigarettes is sometimes called vaping. The liquid in the e-cigarette, called e-liquid, is usually made of nicotine, propylene glycol, glycerine, and flavorings. Not all e-liquids contain nicotine.
Product & engineering
Understand the product.
An electronic cigarette or e-cigarette is a handheld electronic device which vaporizes a flavored liquid. The user inhales the vapor. Using e-cigarettes is sometimes called vaping. The liquid in the e-cigarette, called e-liquid, is usually made of nicotine, propylene glycol, glycerine, and flavorings. Not all e-liquids contain nicotine.
Selected research
Industry Growth & Trends
Global E-cigarette Industry Growth and Trends Forecast to 2032
Market perspective
An electronic cigarette or e-cigarette is a handheld electronic device which vaporizes a flavored liquid. The user inhales the vapor. Using e-cigarettes is sometimes called vaping. The liquid in the e-cigarette, called e-liquid, is usually made of nicotine, propylene glycol, glycerine, and flavorings. Not all e-liquids contain nicotine.
Imperial Tobacco, Reynolds American, Japan Tobacco, Altria and Buddy Group are the leading producers of e-cigarettes. Imperial Tobacco is the world's largest, accounting for about 10% of the total market. The top five accounted for about 30%.
North America is the leading market, accounting for about 35% of the total, followed by Europe at about 25%.
Read the full market overview
Report Scope
This report provides a structured, data-driven view of the global E-cigarette market, combining harmonized quantitative metrics with targeted qualitative insight to support business and growth strategy, market positioning, and capital allocation.
The E-cigarette market size, estimates, and forecasts are presented in terms of sales volume (K Units) and revenue (US$ million), with 2025 as the base year and historical and forecast data for 2021-2032. The report segments the global E-cigarette market by Type, Application, region/country, and company, provides regional market sizes at the segment level, profiles the competitive landscape and key players and their market ranks, and reviews technology trends and new product developments relevant to E-cigarette.
Key Companies & Market Share Insights
This section analyzes the strategies and performance of leading manufacturers in the global E-cigarette market, including portfolio focus, innovation and product development, mergers and acquisitions, collaborations, and geographic expansion used to sustain or enhance competitive positions. It also summarizes recent corporate developments and key financial indicators and provides global revenue, price, and sales volume data by manufacturer for 2020-2025, enabling benchmarking of scale, pricing, and market share and supporting assessment of market concentration through indicators such as CR5 and CR10.
E-cigarette Market by Company
Imperial Tobacco
Reynolds American
Japan Tobacco
Altria
VMR Product
Njoy
21st Century
Vaporcorp
Truvape
FirstUnion
Hangsen
Buddy Group
Kimree
Innokin
SHENZHEN SMOORE
SMOK
E-cigarette Segment by Type
With Screen
Without Screen
E-cigarette Segment by Application
Online
Offline
E-cigarette 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-cigarette 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-cigarette 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-cigarette.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Introduces the study scope of this report, executive summary of market segments by type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter 2: 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 3: Detailed analysis of E-cigarette manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Sales, revenue of E-cigarette in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter 5: Introduces market segments by application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7, 8, 9, 10 and 11: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter 12: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics.
Chapter 13: Concluding Insights of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- With Screen
- Without Screen
Applications
- Online
- Offline
Companies covered
- Imperial Tobacco
- Reynolds American
- Japan Tobacco
- Altria
- VMR Product
- Njoy
- 21st Century
- Vaporcorp
- Truvape
- FirstUnion
- Hangsen
- Buddy Group
- Kimree
- Innokin
- SHENZHEN SMOORE
- SMOK
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Global Market Growth Prospects
- 1.2.1 Global E-cigarette Market Size Estimates and Forecasts (2021-2032)
- 1.2.2 Global E-cigarette Sales Estimates and Forecasts (2021-2032)
- 1.3 E-cigarette Market by Type
- 1.3.1 With Screen
- 1.3.2 Without Screen
- 1.4 Global E-cigarette Market Size by Type
- 1.4.1 Global E-cigarette Market Size Overview by Type (2021-2032)
- 1.4.2 Global E-cigarette Historic Market Size Review by Type (2021-2026)
- 1.4.3 Global E-cigarette Forecasted Market Size by Type (2027-2032)
- 1.5 Key Regions Market Size by Type
- 1.5.1 North America E-cigarette Sales Breakdown by Type (2021-2026)
- 1.5.2 Europe E-cigarette Sales Breakdown by Type (2021-2026)
- 1.5.3 Asia-Pacific E-cigarette Sales Breakdown by Type (2021-2026)
- 1.5.4 South America E-cigarette Sales Breakdown by Type (2021-2026)
- 1.5.5 Middle East and Africa E-cigarette Sales Breakdown by Type (2021-2026)
2 Global Market Dynamics
- 2.1 E-cigarette Industry Trends
- 2.2 E-cigarette Industry Drivers
- 2.3 E-cigarette Industry Opportunities and Challenges
- 2.4 E-cigarette Industry Restraints
3 Market Competitive Landscape by Company
- 3.1 Global Top Players by E-cigarette Revenue (2021-2026)
- 3.2 Global Top Players by E-cigarette Sales (2021-2026)
- 3.3 Global Top Players by E-cigarette Price (2021-2026)
- 3.4 Global E-cigarette Industry Company Ranking, 2024 VS 2025 VS 2026
- 3.5 Global E-cigarette Major Company Production Sites & Headquarters
- 3.6 Global E-cigarette Company, Product Type & Application
- 3.7 Global E-cigarette Company Establishment Date
- 3.8 Market Competitive Analysis
- 3.8.1 Global E-cigarette Market CR5 and HHI
- 3.8.2 Global Top 5 and 10 E-cigarette Players Market Share by Revenue in 2025
- 3.8.3 2025 E-cigarette Tier 1, Tier 2, and Tier 3
4 E-cigarette Regional Status and Outlook
- 4.1 Global E-cigarette Market Size and CAGR by Region: 2021 VS 2025 VS 2032
- 4.2 Global E-cigarette Historic Market Size by Region
- 4.2.1 Global E-cigarette Sales in Volume by Region (2021-2026)
- 4.2.2 Global E-cigarette Sales in Value by Region (2021-2026)
- 4.2.3 Global E-cigarette Sales (Volume & Value), Price and Gross Margin (2021-2026)
- 4.3 Global E-cigarette Forecasted Market Size by Region
- 4.3.1 Global E-cigarette Sales in Volume by Region (2027-2032)
- 4.3.2 Global E-cigarette Sales in Value by Region (2027-2032)
- 4.3.3 Global E-cigarette Sales (Volume & Value), Price and Gross Margin (2027-2032)
5 E-cigarette by Application
- 5.1 E-cigarette Market by Application
- 5.1.1 Online
- 5.1.2 Offline
- 5.2 Global E-cigarette Market Size by Application
- 5.2.1 Global E-cigarette Market Size Overview by Application (2021-2032)
- 5.2.2 Global E-cigarette Historic Market Size Review by Application (2021-2026)
- 5.2.3 Global E-cigarette Forecasted Market Size by Application (2027-2032)
- 5.3 Key Regions Market Size by Application
- 5.3.1 North America E-cigarette Sales Breakdown by Application (2021-2026)
- 5.3.2 Europe E-cigarette Sales Breakdown by Application (2021-2026)
- 5.3.3 Asia-Pacific E-cigarette Sales Breakdown by Application (2021-2026)
- 5.3.4 South America E-cigarette Sales Breakdown by Application (2021-2026)
- 5.3.5 Middle East and Africa E-cigarette Sales Breakdown by Application (2021-2026)
6 Company Profiles
- 6.1 Imperial Tobacco
- 6.1.1 Imperial Tobacco Company Information
- 6.1.2 Imperial Tobacco Business Overview
- 6.1.3 Imperial Tobacco E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.1.4 Imperial Tobacco E-cigarette Product Portfolio
- 6.1.5 Imperial Tobacco Recent Developments
- 6.2 Reynolds American
- 6.2.1 Reynolds American Company Information
- 6.2.2 Reynolds American Business Overview
- 6.2.3 Reynolds American E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.2.4 Reynolds American E-cigarette Product Portfolio
- 6.2.5 Reynolds American Recent Developments
- 6.3 Japan Tobacco
- 6.3.1 Japan Tobacco Company Information
- 6.3.2 Japan Tobacco Business Overview
- 6.3.3 Japan Tobacco E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.3.4 Japan Tobacco E-cigarette Product Portfolio
- 6.3.5 Japan Tobacco Recent Developments
- 6.4 Altria
- 6.4.1 Altria Company Information
- 6.4.2 Altria Business Overview
- 6.4.3 Altria E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.4.4 Altria E-cigarette Product Portfolio
- 6.4.5 Altria Recent Developments
- 6.5 VMR Product
- 6.5.1 VMR Product Company Information
- 6.5.2 VMR Product Business Overview
- 6.5.3 VMR Product E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.5.4 VMR Product E-cigarette Product Portfolio
- 6.5.5 VMR Product Recent Developments
- 6.6 Njoy
- 6.6.1 Njoy Company Information
- 6.6.2 Njoy Business Overview
- 6.6.3 Njoy E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.6.4 Njoy E-cigarette Product Portfolio
- 6.6.5 Njoy Recent Developments
- 6.7 21st Century
- 6.7.1 21st Century Company Information
- 6.7.2 21st Century Business Overview
- 6.7.3 21st Century E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.7.4 21st Century E-cigarette Product Portfolio
- 6.7.5 21st Century Recent Developments
- 6.8 Vaporcorp
- 6.8.1 Vaporcorp Company Information
- 6.8.2 Vaporcorp Business Overview
- 6.8.3 Vaporcorp E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.8.4 Vaporcorp E-cigarette Product Portfolio
- 6.8.5 Vaporcorp Recent Developments
- 6.9 Truvape
- 6.9.1 Truvape Company Information
- 6.9.2 Truvape Business Overview
- 6.9.3 Truvape E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.9.4 Truvape E-cigarette Product Portfolio
- 6.9.5 Truvape Recent Developments
- 6.10 FirstUnion
- 6.10.1 FirstUnion Company Information
- 6.10.2 FirstUnion Business Overview
- 6.10.3 FirstUnion E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.10.4 FirstUnion E-cigarette Product Portfolio
- 6.10.5 FirstUnion Recent Developments
- 6.11 Hangsen
- 6.11.1 Hangsen Company Information
- 6.11.2 Hangsen Business Overview
- 6.11.3 Hangsen E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.11.4 Hangsen E-cigarette Product Portfolio
- 6.11.5 Hangsen Recent Developments
- 6.12 Buddy Group
- 6.12.1 Buddy Group Company Information
- 6.12.2 Buddy Group Business Overview
- 6.12.3 Buddy Group E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.12.4 Buddy Group E-cigarette Product Portfolio
- 6.12.5 Buddy Group Recent Developments
- 6.13 Kimree
- 6.13.1 Kimree Company Information
- 6.13.2 Kimree Business Overview
- 6.13.3 Kimree E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.13.4 Kimree E-cigarette Product Portfolio
- 6.13.5 Kimree Recent Developments
- 6.14 Innokin
- 6.14.1 Innokin Company Information
- 6.14.2 Innokin Business Overview
- 6.14.3 Innokin E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.14.4 Innokin E-cigarette Product Portfolio
- 6.14.5 Innokin Recent Developments
- 6.15 SHENZHEN SMOORE
- 6.15.1 SHENZHEN SMOORE Company Information
- 6.15.2 SHENZHEN SMOORE Business Overview
- 6.15.3 SHENZHEN SMOORE E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.15.4 SHENZHEN SMOORE E-cigarette Product Portfolio
- 6.15.5 SHENZHEN SMOORE Recent Developments
- 6.16 SMOK
- 6.16.1 SMOK Company Information
- 6.16.2 SMOK Business Overview
- 6.16.3 SMOK E-cigarette Sales, Revenue and Gross Margin (2021-2026)
- 6.16.4 SMOK E-cigarette Product Portfolio
- 6.16.5 SMOK Recent Developments
7 North America by Country
- 7.1 North America E-cigarette Sales by Country
- 7.1.1 North America E-cigarette Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 7.1.2 North America E-cigarette Sales by Country (2021-2026)
- 7.1.3 North America E-cigarette Sales Forecast by Country (2027-2032)
- 7.2 North America E-cigarette Market Size by Country
- 7.2.1 North America E-cigarette Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 7.2.2 North America E-cigarette Market Size by Country (2021-2026)
- 7.2.3 North America E-cigarette Market Size Forecast by Country (2027-2032)
8 Europe by Country
- 8.1 Europe E-cigarette Sales by Country
- 8.1.1 Europe E-cigarette Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 8.1.2 Europe E-cigarette Sales by Country (2021-2026)
- 8.1.3 Europe E-cigarette Sales Forecast by Country (2027-2032)
- 8.2 Europe E-cigarette Market Size by Country
- 8.2.1 Europe E-cigarette Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 8.2.2 Europe E-cigarette Market Size by Country (2021-2026)
- 8.2.3 Europe E-cigarette Market Size Forecast by Country (2027-2032)
9 Asia-Pacific by Country
- 9.1 Asia-Pacific E-cigarette Sales by Country
- 9.1.1 Asia-Pacific E-cigarette Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 9.1.2 Asia-Pacific E-cigarette Sales by Country (2021-2026)
- 9.1.3 Asia-Pacific E-cigarette Sales Forecast by Country (2027-2032)
- 9.2 Asia-Pacific E-cigarette Market Size by Country
- 9.2.1 Asia-Pacific E-cigarette Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 9.2.2 Asia-Pacific E-cigarette Market Size by Country (2021-2026)
- 9.2.3 Asia-Pacific E-cigarette Market Size Forecast by Country (2027-2032)
10 South America by Country
- 10.1 South America E-cigarette Sales by Country
- 10.1.1 South America E-cigarette Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 10.1.2 South America E-cigarette Sales by Country (2021-2026)
- 10.1.3 South America E-cigarette Sales Forecast by Country (2027-2032)
- 10.2 South America E-cigarette Market Size by Country
- 10.2.1 South America E-cigarette Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 10.2.2 South America E-cigarette Market Size by Country (2021-2026)
- 10.2.3 South America E-cigarette Market Size Forecast by Country (2027-2032)
11 Middle East and Africa by Country
- 11.1 Middle East and Africa E-cigarette Sales by Country
- 11.1.1 Middle East and Africa E-cigarette Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 11.1.2 Middle East and Africa E-cigarette Sales by Country (2021-2026)
- 11.1.3 Middle East and Africa E-cigarette Sales Forecast by Country (2027-2032)
- 11.2 Middle East and Africa E-cigarette Market Size by Country
- 11.2.1 Middle East and Africa E-cigarette Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 11.2.2 Middle East and Africa E-cigarette Market Size by Country (2021-2026)
- 11.2.3 Middle East and Africa E-cigarette Market Size Forecast by Country (2027-2032)
12 Value Chain and Sales Channels Analysis
- 12.1 E-cigarette Value Chain Analysis
- 12.1.1 E-cigarette Key Raw Materials
- 12.1.2 Key Raw Materials Price
- 12.1.3 Raw Materials Key Suppliers
- 12.1.4 Manufacturing Cost Structure
- 12.1.5 E-cigarette Production Mode & Process
- 12.2 E-cigarette Sales Channels Analysis
- 12.2.1 Direct Comparison with Distribution Share
- 12.2.2 E-cigarette Distributors
- 12.2.3 E-cigarette Customers
13 Concluding Insights
14 Appendix
- 14.1 Reasons for Doing This Study
- 14.2 Research Methodology
- 14.3 Research Process
- 14.4 Authors List of This Report
- 14.5 Data Source
- 14.5.1 Secondary Sources
- 14.5.2 Primary Sources
- 14.6 Disclaimer
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