U.S. Smart e-cigarette Market Revenue Worth $ 2,664.9 million by 2027 – Astute Analytica
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Electronic cigarettes act as an efficient alternative to tobacco products used to limit the consumption of addictive nicotine. Growing knowledge related to the safety of e-cigarettes is shaping the scope of the US smart e-cigarette market. Moreover, smart e-cigarettes offer beneficial customization features, including temperature control and nicotine concentrations, which will present attractive prospects for the U.S smart e-cigarettes market. Additionally, strict government regulations on the consumption of tobacco, along with the growing efforts by manufacturers to develop smart as an efficient tool to quit smoking, will contribute to the market growth. However, various instances have depicted the sudden increase in the consumption of smart e-cigarettes and their harmful effect on bodies. The Food and Drug Administration (FDA) also classifies smart e-cigarettes under the category of tobacco products, which may limit their adoption in the country.
U.S Smart E-Cigarette Market: Factors Influencing the Market
Drivers
E-cigarettes benefit consumers as no tobacco is involved. Therefore, a major fraction of the U.S. population uses these devices as a way to quit smoking. Moreover, people are fast shifting towards e-cigarettes as a beneficial alternative to nicotine-based products. Various research conducted by medical association claim that e-cigarettes are a safer option than tobacco-based traditional cigarettes. Secondhand smoke causes around 34,000 premature deaths in the United States every year, in which adults who do not smoke are involved, as stated by the Centers for disease control and prevention. Recognizing the needs of the users, manufacturers are more focused on the customization features, such as temperature control, nicotine concentrations, etc., which will further amplify the demand for smart e-cigarettes in the U.S.
The U.S smart e-cigarettes market will also register a significant boom in terms of revenue because of expanding knowledge about the young population. Additionally, the cost-efficiency of smart e-cigarettes will also be a plus point in the market growth.
Challenges Ahead
Strict regulations implemented by the US government will limit the consumption of smart e-cigarettes, which is expected to be the major restraining factor in market growth.
Impact of COVID-19
The COVID-19 pandemic resulted in a significant uptick in the US smart e-cigarette market revenue. As stated by the Centers for Disease Control and Prevention (CDC), the sales of e-cigarettes increased from 14.8 million units in February 2020 to 22 million units in 14.8 million units to 22 million units. This rise in the sales of smart e-cigarettes is attributable to the fact that smart e-cigarettes allow users to manage their growing consumption patterns and monitor their usage. Moreover, online tobacco sales are also banned in the country, which is the significant reason behind this fast transformation.
On the basis of type, without screen segment leads in the US smart e-cigarette market
On the basis of type, the without-screen segment leads with the highest share of 86.2% in the US smart e-cigarette and will also exhibit an excellent growth rate of 34.3% over the forecast period. However, the with-screen segment will exhibit the highest CAGR of 56.0% and will grow in terms of revenue from US$ 61.3 million in 2021 to US$ 884.5 million by 2027. The growth of the with-screen segment is because of the fact that with-screen smart e-cigarette shows the battery status and ingredient amount, allowing users to check the time of usage.
The online segment, on the basis of the distribution channel, will exhibit the highest CAGR of 42.4%
On the basis of the distribution channel, the offline segment leads with the highest share of 55% in the US smart e-cigarette market share and will also exhibit the highest CAGR of 42.4%. Various industry giants in the US market for smart e-cigarettes are displaying their offerings on the online platform due to their high user base.
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US Smart E-Cigarette Market: Competitive Landscape
PAX is engaged in the development of premium cannabis vaporizer technology. The firm is known for its wide range of offerings, segmented into flowers, concentrates, and oil extract pods.
DaVinci is among the renowned manufacturer and marketers of vaping brands. The firm deals under the brand names DaVinci, DaVinci Ascent, and DaVinci IQ portable Vap. The firm has also launched unique models of its DaVinci electronic cigarette vaporizer.
Illest Vapes, a firm based in Dallas, Texas, United States, is known for its highly advanced e-cigarettes that offer Bluetooth connectivity to android and other applications.
Joyetech USA Inc. is enjoying a great reputation because of its reliable e-cigarettes, vape pens, vaporizers, e-cig box mods, etc.
STORZ & BICKEL GmbH & Co. KG has been engaged in the medical herbal vaporizers sector since 2002. The firm aims to maintain a strong foothold in the smart e-cigarette industry with its robust innovations like PLENTY, MIGHTY, VOLCANO, CRAFTY, etc.
Market Segmentation
By Type:
With screen
Without screen
By Distribution Channel:
Online
Offline
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Aamir Beg
Astute Analytica
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