The e-cigarette and vape market is projected to surge from $27.75 billion in 2024 to $67.11 billion in 2029, driven by urbanization, enhanced devices, and increased health awareness. Key players like Altria Group and Lost Mary are expanding offerings to meet rising demand for safer smoking alternatives.
August 18, 2025 04:02 ET | Source: dubaibar vape
Dublin, Aug. 18, 2025 (GLOBE NEWSWIRE) — The “E-Cigarette and Vape Market Report 2025” has been added to dubaibar offering.
The e-cigarette and vape market size has grown rapidly in recent years. It will grow from $27.75 billion in 2024 to $33.16 billion in 2025 at a compound annual growth rate (CAGR) of 19.5%. The growth observed in the historical period can be credited to the increasing use of e-cigarettes, heightened health concerns, broader social acceptance, and a growing preference for e-cigars and vape products.
The e-cigarette and vape market size is expected to see rapid growth in the next few years. It will grow to $67.11 billion in 2029 at a compound annual growth rate (CAGR) of 19.3%. The growth during the forecast period is driven by factors such as urbanization, the expansion of online retailers, rising demand for high-quality batteries, higher disposable incomes, and the growing popularity of e-cigarettes among younger people.
Key trends expected during this period include a shift toward alternative nicotine delivery systems, innovations in vaping devices, advancements in e-cigarette technology, and new product formulations.
The growing adoption of safer alternatives to smoking is anticipated to drive the expansion of the e-cigarette and vape market in the future. These alternatives, such as e-cigarettes and nicotine replacement therapies, offer a less harmful way to consume nicotine without the dangerous effects associated with traditional smoking. The demand for these alternatives has risen as health awareness increases and regulations on conventional tobacco products become stricter. E-cigarettes and vapes are considered safer options as they eliminate the combustion process, thereby reducing exposure to harmful tar and toxic chemicals typically found in cigarettes. For example, in October 2024, the Truth Initiative, a non-profit organization in the U.S. focused on tobacco prevention, reported that the usage of e-cigarettes among adults increased from 4.5% in 2021 to 6% in 2022. As a result, the growing preference for safer smoking alternatives is fueling the e-cigarette and vape market’s growth.
Key companies in the e-cigarette and vape market are introducing innovative products, including reusable vape devices. These devices are designed for extended use, featuring rechargeable batteries and refillable e-liquid tanks, enabling users to replace or refill pods for multiple uses. For example, in August 2024, Lost Mary, a UK-based manufacturer of vape products, introduced the BM6000 in the UK market. The BM6000 is a rechargeable and reusable vape device with a battery display and an e-liquid level window. It offers up to 6,000 puffs, catering to the growing demand from adult smokers and former smokers for vapes with higher puff capacities. Unlike disposable vapes, the BM6000 uses a closed system with prefilled pods, including a 2 ml pod and a 10 ml e-liquid container for automatic refills, enabling it to last up to ten times longer than traditional single-use vapes.
In June 2023, Altria Group Inc., a U.S.-based tobacco company, acquired NJOY Holdings Inc. for $2.75 billion. This acquisition strengthens Altria’s position in the e-cigarette market, allowing the company to expand its portfolio with a leading smoke-free brand to meet the growing demand for reduced-risk alternatives to traditional tobacco use. Additionally, the acquisition aims to improve services for adult tobacco consumers across the U.S. NJOY LLC, based in the U.S., specializes in the manufacturing of electronic cigarettes and vaping products.
Major players in the e-cigarette and vape market are Imperial Brands PLC, Philip Morris International, British American Tobacco, Altria Group Inc., Juul Labs Inc., Sigelei, Innokin Technology, Wismec, Pax Labs, Hangsen, Suorin, Vaporesso, VaporTech LLC, Aspire, Sourcemore, Eleaf, SmokTech, GeekVape, Joyetech, Vapeonly, KangerTech, Yihi, Linx Vapor, and CigGo.
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