Global Disposable Vape Market is to Reach $6.34 Billion in 2022
Market research company Future Market Insights recently conducted a fair analysis of the global disposable e-cigarette market, providing historical data from 2017-2021 and forecasted statistical data from 2022-2032.
The report shows that in 2022, the global disposable e-cigarette market is expected to reach $6.34 billion. Due to increasing concerns about health issues and the growing demand for non-tobacco products, it is predicted that the overall demand for disposable e-cigarettes will grow at a compound annual growth rate of 11.2% from 2022 to 2032, totaling approximately $18.32 billion by 2032.
Assuming that disposable e-cigarettes are a safe alternative to rechargeable e-cigarettes, this is expected to drive market growth during the forecast period. Additionally, more and more young people are accepting different e-cigarette devices, which will drive growth in the disposable e-cigarette market.
Major players in the market are beginning to offer these products online through various e-commerce websites such as Amazon.
According to an article published by the Truth Initiative, online e-cigarette sales, including disposable products, accounted for 28% of all sales in June 2021. Furthermore, the availability of disposable e-cigarettes approved by different health agencies such as the National Medical Products Administration (NMPA) as a better alternative to smoking will integrate well with growth trends.
The attraction of using disposable e-cigarettes among consumers, particularly millennials, is growing, and it is expected to accelerate market development in the coming years. Major players are introducing new innovative products to meet the growing demand of consumers for these products.
For example, in January 2021, the UK e-cigarette brand, Dinner Lady, launched a disposable e-cigarette pen with eight flavors, including lemon tart, banana ice, citrus ice, and strawberry ice. This initiative was taken to support consumers in terms of health and provide them with a more sustainable choice over combustible cigarettes.
North America dominates the disposable e-cigarette market, with the highest revenue share in 2021, reaching 49.8%. The popularity of disposable e-cigarettes with flavors offered by brands such as Puff Bar, Vuse, and Suorin is expected to be a major factor driving industry growth in the region.
Key Findings of the Market Research:
- In 2022, the global disposable e-cigarette market will be worth $6.34 billion;
- From 2017 to 2021, demand for disposable e-cigarettes grew at a compound annual growth rate of 5.6%;
- By flavor classification, non-tobacco categories are expected to constitute the majority of the disposable e-cigarette market during the forecast period;
- The offline sub-segment market dominates the disposable e-cigarette market through distribution channels;
- Disposable e-cigarette sales are expected to grow vigorously at a compound annual growth rate of 11.2% from 2022 to 2032.
“In the near future, the demand for non-tobacco products is expected to rise as more and more people become aware of the health risks associated with tobacco use. This trend is already evident in the increasing popularity of e-cigarettes, which are seen as a safer alternative to traditional cigarettes.
Governments and public health organizations are also taking steps to discourage tobacco use and promote healthier lifestyles. This includes implementing higher taxes on tobacco products, restricting advertising and marketing, and investing in anti-smoking campaigns.
Overall, while tobacco use is still prevalent in many parts of the world, there are positive signs that attitudes towards smoking are changing. With continued efforts to educate people about the dangers of tobacco and promote healthier alternatives, we may see a future where smoking is a thing of the past.”