The e-cigarette market will register a CAGR of over 22% by 2023
According to PRNewswire, analysts have predicted that the e-cigarette market will register a CAGR of over 22% by 2023.
The increasing availability of e-cigarette across various distribution channels will drive the e-cigarette market growth during the forecast period. Supermarkets chains across the globe have started offering e-cigarettes. In addition, vape shops in the US and the UK are also offering e-cigarettes to cater to the evolving end-user requirements of the end-users. As a result, several distribution channels offering e-cigarettes will drive market growth.
One of the growth drivers of the global e-cigarette market is the e-cigarettes perceived to be less harmful than other substitutes. The preference for an e-cigarette to other tobacco products will promote the growth of the market during the forecast period.
One of the challenges in the growth of the global e-cigarette market is stiff competition from other nicotine products. Product innovations and product launches in alternative product categories can hamper the growth of the market during the forecast period.
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