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The U.S. Smart e-cigarette Market was valued at US$ 364.7 Mn in 2021 and is anticipated to reach US$ 2,664.9 Mn by the end of 2027. The market is registering growth at a CAGR of 39.3% during the forecast period 2022-2027. In terms of volume, the U.S. smart e-cigarette market is expected to register a CAGR of 34.6% during 2022-2027.
Rising awareness related to e-cigarettes being safer than traditional cigarettes, especially among the younger population is a key factor driving the smart e-cigarette market in the US region. Furthermore, the array of customization features such as temperature control and nicotine concentrations offered by vendors is expected to aid the product demand. However, strict government regulations are a major roadblock in the growth of the market in the country. Furthermore, manufacturers market smart e-cigarettes as tools for quitting or cutting down on smoking, but the Food and Drug Administration (FDA) classifies them as tobacco products, hence impeding the market's growth across the country.
The study of the United States (U.S.) The smart E-cigarette Market considers various market determinants, industry value chain analysis, and competitor analysis in the US region. The report discusses the analysis of the US smart e-cigarette industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the US smart e-cigarette market across 10 Chapters and 71 pages. The report includes data presentation across 51 tables and 14 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of buyers and competitive rivalry is high. Furthermore, the performances of the competitors were measured to understand the scope of the business in the market for smart e-cigarette in the US.
The subsequent sections provide details of the market analysis based on different segments such as product type and distribution channel. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, smart E-cigarette manufacturers, distributors and suppliers, and end-users. EVE Energy, LG Chem, Panasonic, Samsung SDI, Shenzhen Fest Technology, Vapor Hub International are some major raw material suppliers that deals in E-liquids, A glass or plastic vial container of e-liquid, Cartridges, Atomizers, Certain batteries, Cartomizers and clearomizers, Digital display or lights to adjust settings, Tank systems, Drip tips, Flavorings for ENDS, Programmable software, and others. The final section deals with the key competitors in the market for Medical Radiation Detection. The main competitors are Pax Labs, DaVinci Vaporizer, Illest Vapes, Joyetech Group, Xvape, Juul Labs, Storz & Bickel, RELX, and Reynolds American Inc. (RJRVC) among others.
Impact of COVID-19 on the U.S. Smart E-Cigarette Market
COVID-19 positively impacted the smart e-cigarette market in the US. For instance, according to the Centers for Disease Control and Prevention (CDC) data, from February 2020 to March 2021, total e-cigarette sales increased by nearly 50% (from 14.8 million units to 22 million units). Sales of flavored e-cigarettes increased by 64%. Rising consumption of e-cigarette has paved the way for the adoption of smart-e-cigarette, as it allows users to manage the consumption pattern and monitor their usage. Moreover, the online sale of tobacco is prohibited, hence during the global lockdown and disrupted supply chains, people shifted their preference towards e-cigarettes or smart e-cigarettes available on online channels.
The with-screen segment is projected to grow at the fastest CAGR in the market
Without a screen, the segment dominates the US smart e-cigarette with a market share of 86.2% market share in 2021 and is anticipated to grow with the CAGR of 34.3% over the forecast period. On the contrary, the with-screen segment is projected to grow at the fastest CAGR of 56% in the market. The with-screen smart e-cigarette displays the battery status and shows the ingredient amount, which helps consumers to predict the usage time, thereby augmenting the overall market growth in the forthcoming period.
An online distribution channel is anticipated to have the largest share of growth by 2027
Based on the distribution channel, the offline channel segment holds almost 55% of the US smart e-cigarette market share in 2021. Retail stores allow customers to try out a variety of e-liquid flavors and check the various kinds of vaporizers available in the market. The online channel is anticipated to register the fastest CAGR of 42.4% over the forecast period. Numerous vendors in the U.S. are opting for online channels as their preferred distribution channel over the retail stores due to stringent regulations about the sale and distribution of e-cigarettes. Furthermore, numerous social media platforms are being used to sell and advertise smart electronic smoking devices.
A Look at the Competitors in the US Smart E-Cigarette Market
Many regional, and local vendors are present in the US smart e-cigarette market. The regional market is modestly competitive, with all the players competing to gain significant market share. Pax Labs, DaVinci Vaporizer, Illest Vapes, Joyetech Group, Xvape, Juul Labs, Storz & Bickel, RELX, Reynolds American Inc. (RJRVC), Shenzhen IVPS Technology Co. Limited (SmokeTech) and VANDY VAPE among others are some major players present in the US smart e-cigarette market. Companies are adopting various key strategies to adopt a significant foothold in the market. Some of the key strategies are product launches, advancements, mergers and acquisitions, approvals, and many more.
Segmentation Overview of the U.S. Smart E-Cigarette Market
By Type Segment of the US Smart E-Cigarette Market is Sub-Segmented into:
By Distribution Channel Segment of the US Smart E-Cigarette Market is Sub-Segmented into:
|Market Size Value in 2021||US$ 364.7 Mn|
|Expected Revenue in 2027||US$ 2,664.9 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, By Distribution Channel|
|Key Companies||Pax Labs, DaVinci Vaporizer, Illest Vapes, Joyetech Group, Xvape, Juul Labs, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
The US smart e-cigarette market was valued at US$ 364.7 Mn in 2021.
US smart e-cigarette market is segmented into two broad categories namely – by type and by distribution channel.
The study period for the US smart e-cigarette market is 2014-2027.
E-cigarettes are a safer alternative than tobacco cigarettes. Therefore, the US smart e-cigarette market is projected to witness a jump in revenue from US$ 364.7 Mn in 2021 to US$ 2,664.9 by 2027, registering a CAGR of 39.3% during the forecast period.
Primary and secondary research was undertaken and further the PESTLE Analysis and Porter’s Five Forces Analysis were conducted to identify strengths, weaknesses, and potential threats.
The without screen segment is the leading product type segment in the market.
The offline channel segment dominated the US smart e-cigarette market with a 55% market share in 2021.
Smart e-cigarette are safer alternative than tobacco cigarette and increasing demand for flavored smart e-cigarettes are some major factors driving the market growth in the US.
Strict government regulations is a major roadblock in the growth of the market in the US smart e-cigarette market.
The key players in the US smart e-cigarette market are Pax Labs, DaVinci Vaporizer, Joyetech Group, Juul labs, Storz & Bickel, RELX, Reynolds American Inc. (RJRVC), VANDY VAPE and Japan Tobacco Inc. among others.
COVID-19 positively impacted the smart e-cigarette market in the US region during the pandemic. According to the Centers for Disease Control and Prevention (CDC) data, from February 2020 to March 2021, total e-cigarette sales increased by nearly 50%.