"Youth and E-cigarette Use: Addressing Concerns and Promoting Responsible Vaping in 2030"
The global e-cigarette market is poised for a significant transition, driven by increased marketing efforts and approvals from regulatory bodies. Over the past few years, e-cigarettes have gained popularity among both adult populations and youth. While initially the marketing of Electronic Nicotine Delivery System (ENDS) products was not approved by the US FDA, a critical development occurred in 2021 when the FDA authorized the marketing of ENDS products through the Premarket Tobacco Product Application (PMTA) pathway. This authorization is considered a vital step towards ensuring a thorough scientific premarket evaluation of all new tobacco products, with the aim of benefiting addicted smokers by either helping them quit completely or significantly reducing their tobacco consumption.
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With the FDA's approval for marketing ENDS products, several manufacturers have gained the authority to launch their marketing campaigns. Recent examples of premarket marketing of tobacco products include NJOY Daily Rich Tobacco (June 2022) and NJOY ACE POD Classic (April 2022) by NJOY LLC, Vuse Vibe Power Unit (May 2022) by R.J. Reynolds Vapor Company, Logic Regular Cartridge (March 2022) and Logic Vapeleaf Cartridge (March 2022) by Logic Technology Development LLC, VERVE Discs Blue Mint (October 2021) by U.S. Smokeless Tobacco Company, and Vuse Solo Power Unit (October 2021) by R.J.
Reynolds Vapor Company. Furthermore, governments are also granting licenses for e-cigarette production. For instance, the Chinese Government has provided an e-cigarette production license to SMOORE, adhering to the set regulations and regulatory framework. These approvals and grants from regulatory bodies and governments are expected to significantly boost the production and marketing activities of ENDS products, thereby influencing the growth of the e-cigarette market.
Rechargeable E-cigarettes to Dominate the E-cigarette Market
The demand and sales of rechargeable e-cigarettes are projected to soar in the coming years due to their functional benefits. Rechargeable e-cigarettes are cost-effective as they eliminate the need for repurchasing supplies such as e-cigarette cartridges. Additionally, the do-it-yourself (DIY) trend has gained popularity among consumers worldwide. This trend allows customers to refill their own cartridges, eliminating the need for purchasing new ones. Moreover, rechargeable e-cigarettes produce less smoke compared to other types and can be conveniently charged using a USB port. These factors have propelled the adoption of rechargeable e-cigarettes, leading to a significant contribution to the revenue share of the e-cigarette market.
North America Continues to Lead the Global E-cigarette Market
The sales of e-cigarettes in North America are anticipated to experience steady growth in the coming years. This can be attributed to the rising demand for e-cigarettes among millennials and youth who prefer cost-effective alternatives to conventional products. Unlike traditional cigarettes, e-cigarettes do not incur recurring costs and have a long service life. They can be used and reused after refilling, offering an economical option. According to the analysis conducted by the Centers for Disease Control and Prevention (CDC), sales of e-cigarette products witnessed a remarkable 31.1% increase in 2021 compared to the previous year, reaching a count of 290.4 million units. Additionally, the CDC reports that sales of flavored non-tobacco e-cigarettes, such as candy, fruit, and mint, experienced significant growth during the 2020-2021 period. Flavored e-cigarette sales rose from 151.4 million units in 2020 to 215.5 million units in 2021, reflecting a surge of 42.3%. This figure also represents an increase in the market share of flavored e-cigarettes from 68.4% in 2020 to 74.2% in 2021. These statistics underscore the attractiveness of North America in terms of sales and demand, positioning it as a leading region in the global e-cigarette market.
Competition Scenario in the E-cigarette Market
Key players in the e-cigarette market are actively adopting growth strategies such as collaborations, new product launches, partnerships, and alliances to strengthen their position in the market. Major players in the global e-cigarette market include Imperial Brands PLC, Japan Tobacco Inc., JUUL Labs Inc., Philip Morris International Inc., British American Tobacco Inc., Altria Group Inc., NicQuid, Shenzhen IVPS Technology Co. Ltd., International Vapour Group, Shenzhen KangerTech Technology Co. Ltd., R.J Reynolds Vapor Company, and Njoy Inc.
As the e-cigarette market continues to evolve, regulatory approvals, technological advancements, and changing consumer preferences are expected to shape its growth trajectory. With a focus on scientific evaluation and expanding marketing efforts, the market is poised for significant expansion in the coming years.