The
global e-cigarette market is
expected to grow at a CAGR of over 17% during the forecast period. Based on the product, the global
e-cigarette market has been segmented into the modular
e-cigarette, next-generation products, rechargeable e-cigarette, and disposable
e-cigarette.
Modular
e-cigarette constituted the largest segment in 2019, while the smallest segment
was disposable e-cigarette. Though modular e-cigarette has delivered a superior
growth performance compared to the overall market, it is expected to worsen its
relative position by the end of the forecast period. This indicates that its
superior growth performance is overtaken by an even faster-growing segment.
The
modular e-cigarette design refers to a battery, a cartomizer, and a cartridge.
Despite the complexity, the three-unit e-cigarette is highly functional and
easy to use. Modular e-cigarettes are becoming popular among
consumers as they can be customized in terms of the amount of vapor, variable
voltage, battery strength, and e-liquid juice choice. The segment is witnessing
the launch of new products. For instance, in December 2018,
British American Tobacco launched a new e-cigarette, iSwitch Maxx, under its Vype brand. However, stringent regulations about the
sales, advertisement, and marketing of e-cigarettes in various countries can
negatively affect the growth of the segment in the
global e-cigarette market during
the forecast period.
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