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The study conducted by Astute Analytica foresees a major growth in revenue for the U.S. smart e-cigarette market from US$ 364.7 Mn in 2021 to US$ 2,664.9 Mn by the end of 2027. The US smart e-cigarette market is expected to grow at a CAGR of 39.3% during the forecast period 2022-2027. The growing impetus is owing to rising awareness related to e-cigarettes being safer than traditional cigarettes and the growing concern regarding the health hazard in using conventional smoking methods.
Significance of the US smart e-cigarette market
The market is witnessing an opportunity of US$ 2,300.2 Mn during 2022-2027. This significant opportunity is based on rising awareness about e-cigarettes being safer than traditional cigarettes, especially among the younger population have escalated the market growth of e-cigarettes in US. Smart e-cigarettes are an alternative to conventional cigarettes due to their advantageous properties such as zero smoke, no pollution, reduced health-related problems, and can be smoked in public places. In addition, conventional smoking is also a major factor for passive smoking or secondhand smoke deaths across the country. Secondhand smoke is responsible for between 150,000 and 300,000 lower respiratory tract infections in infants and children under 18 months of age, resulting in between 7,500 and 15,000 hospitalizations each year. It also causes 430 sudden infant death syndrome (SIDS) deaths in the US annually. Furthermore, the array of customization features such as temperature control and nicotine concentrations offered by the vendors is expected to aid the product demand and acting as an evolving factor boosting the growth of the smart e-cigarette market in the country during the forecast period.
Strict government regulations are major roadblock in the growth of the market in the country. The US government also focuses on marketing activities and managing the consumption of smart e-cigarettes in the country to reduce nicotine or tobacco consumption among the youth and prevent the death rate from increasing at an alarming rate. 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; United States federal law does not allow the sale of tobacco products to people under the age of 21. Hence, impeding the market's growth across the country.
Impact of COVID-19
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%. The 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 sales of tobacco are 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.
Without screen segment has the highest market share for the smart e-cigarette market in US in the year 2021
The no screen 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 56.0% in the market, registering a growth in revenue from US$ 61.3 Mn in 2021 to US$ 884.5 Mn. The with screen smart e-cigarette displays the battery status and shows the ingredient amount, which helps consumers to predict the time of usage, thereby augmenting the market growth in the forthcoming period.
Online segment is anticipated to have the highest CAGR of 42.4% by 2027
Based on distribution channel, the offline segment holds almost 55% of the US smart e-cigarette market share in 2021. However, the online segment is projected to register the highest 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.
A glance at the competitors – US Smart E-Cigarette Market
Segmentation Overview – US Smart E-Cigarette Market
The US Smart E-cigarette Market is segmented based on product type and distribution channel. These segments are sub-divided to get a holistic picture of the market. Following are the segments of the US Smart E-cigarette Market: -
Type Segment is further segmented into:
By Distribution Channel Segment is further segmented into:
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