Details of e-cigarette market in 2021

The global e-cigarette and vape market size was valued at USD 15.04 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 28.1% from 2021 to 2028. The growing emphasis on adopting safer alternatives to smoking is anticipated to drive the adoption of e-cigarettes and vape devices over the forecast period. Amid the COVID-19 pandemic, e-cigarette and vape vendors have adopted several COVID-19 based marketing strategies to drive product sales. As the supplies of e-cigarette and vape devices became scarce in physical stores, the vendors started offering their products through online platforms and offered hand sanitizers and face masks as gifts on the purchase of vaping products. For instance, vaping brands such as One Drop Vape, BLVK, and Podsalt started offering free hand sanitizers with the purchase of their products. This served as a key factor driving the market growth during the pandemic and is expected to continue to be a key factor in the post-pandemic era.