Latin America E-cigarette And Vape Market Size & Outlook
Latin America e-cigarette and vape market, 2018-2030 (US$M)
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Latin America e-cigarette and vape market highlights
- The Latin America e-cigarette and vape market generated a revenue of USD 1,222.8 million in 2023.
- The market is expected to grow at a CAGR of 23.3% from 2024 to 2030.
- In terms of segment, modular devices 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,222.8 million |
| Market revenue in 2030 | USD 5,311.3 million |
| Growth rate | 23.3% (CAGR from 2023 to 2030) |
| Largest segment | Modular devices |
| 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, Latin America region accounted for 4.3% 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 |
|---|
Latin America 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.
Modular devices was the largest segment with a revenue share of 53.45% in 2023. Horizon Databook has segmented the Latin America e-cigarette and vape market based on disposable, rechargeable, modular devices covering the revenue growth of each sub-segment from 2018 to 2030.
Carrying e-cigarettes while travelling to this region can attract serious charges by the customs. The Latin American region has made it mandatory for publishing heath warnings on the packaging of tobacco products, which is expected to encourage the population to adopt safe alternatives to smoking.
The country’s health agency Anvisa, has claimed e-cigarette to lack of information to allow it for public use. Brazil has been implementing strict regulations on e-cigarette promotions and advertisement that affect the young mindset of the country.
This factor had restricted the market growth till 2020. However, growing disposable income and rising availability of ecigarettes with minimal nicotine and tobacco inclusion are anticipated to drive the Brazilian market overthe forecasted period.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America e-cigarette and vape market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America e-cigarette and vape market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America e-cigarette and vape market size, by country, 2018-2030 (US$M)
Latin America E-cigarette And Vape Market Outlook Share, 2023 & 2030 (US$M)
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