Asia Pacific E-cigarette And Vape Market Size & Outlook
Asia Pacific e-cigarette and vape market, 2018-2030 (US$M)
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Asia Pacific e-cigarette and vape market highlights
- The Asia Pacific e-cigarette and vape market generated a revenue of USD 6,495.5 million in 2023.
- The market is expected to grow at a CAGR of 34.6% from 2024 to 2030.
- In terms of segment, rechargeable was the largest revenue generating product in 2023.
- Modular Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 6,495.5 million |
| Market revenue in 2030 | USD 52,047.8 million |
| Growth rate | 34.6% (CAGR from 2023 to 2030) |
| Largest segment | Rechargeable |
| Fastest growing segment | Modular Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Disposable, Rechargeable, Modular Devices |
| Key market players worldwide | Altria Group Inc, British American Tobacco, Imperial Brands PLC, Vapor Group Inc, Japan Tobacco Inc, Pax Global Technology Ltd, Philip Morris International Inc, Reynolds Consumer Products Inc Ordinary Shares, Shenzhen International Holdings Ltd |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 23.1% of the global e-cigarette and vape market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 52,047.8 million by 2030.
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E-cigarette And Vape Market Scope
E-cigarette And Vape Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific e-cigarette and vape market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to e-cigarette and vape market will help companies and investors design strategic landscapes.
Rechargeable was the largest segment with a revenue share of 37.68% in 2023. Horizon Databook has segmented the Asia Pacific e-cigarette and vape market based on disposable, rechargeable, modular devices covering the revenue growth of each sub-segment from 2018 to 2030.
E-cigarettes are not regulated in the Asia-Pacific region. Several countries such as Hong Kong, Singapore, and India have banned the sale and distribution of ecigarette products.
In October 2019, the China’s State Tobacco Monopoly Administration and the State Administration for Market Regulation (SAMR) jointly issued the Circular on Further Protecting Minors from the Harm of E-cigarettes that urged the e-cigarette manufacturers to limit selling and advertising e-cigarettes online to prevent minors below age 18, from obtaining e-cigarettes and other vaping products.
Growing demand for ash-less and smokeless vaping, increasing product innovations and developments by e-cigarette manufacturers and rising focus on mitigating health risks, are some of the key drivers supporting the growth of Japanese e-cigarette market.
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Target buyers of Asia Pacific e-cigarette and vape market databook
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Our clientele includes a mix of e-cigarette and vape market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific e-cigarette and vape market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific e-cigarette and vape market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific e-cigarette and vape market size, by country, 2018-2030 (US$M)
Asia Pacific E-cigarette And Vape Market Outlook Share, 2023 & 2030 (US$M)
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