Research institutions predict that the U.S. e-cigarette market will exceed US$34.1 billion in 2031

Report on the U.S. e-cigarette market

Recently, the research organization “Allied Market Research” released a report on the U.S. e-cigarette market, which predicts that the U.S. e-cigarette market will have a compound annual growth rate (CAGR) of 16.1% from 2022 to 2031. In 2020, the market value of the U.S. e-cigarette market was US$6.698 billion, and it is expected that this number will exceed US$34.1 billion by 2031.

The U.S. Centers for Disease Control and Prevention (CDC) reported that e-cigarettes have become the most commonly used tobacco product among American youth; within a four-week period, e-cigarette sales increased by more than 122.2%, a huge growth rate.

The report emphasizes that because e-cigarettes do not contain tobacco, but most contain nicotine from tobacco, the U.S. Food and Drug Administration (FDA) classifies e-cigarettes as “tobacco products.” Due to the increasing number of people suffering from nicotine addiction syndrome, the FDA announced the e-cigarette flavor enforcement policy on January 2, 2020, and implemented it on February 6, banning the sale and distribution of cartridge-based flavored e-cigarettes in the United States. products (except tobacco and menthol flavors). In order to prevent the popularity of e-cigarettes among teenagers, from September 14, 2014 to May 17, 2020, the total sales of e-cigarettes increased by 122.2%, from 7.7 million to 17.1 million.

CDC reports show that 3.7% of adults in the United States are using e-cigarettes; the population with nicotine addiction syndrome is growing, and the e-cigarette market is also inseparable from its influence.

Based on the U.S. e-cigarette market distribution channel segment, the professional e-cigarette store segment will occupy the highest market share in 2020, with a compound annual growth rate of 16.6% from 2022 to 2031.

According to the survey, 3.7% of adults in the United States currently use e-cigarettes. In 2019, among all e-cigarette users, 36.9% also smoked cigarettes, 39.5% were former smokers, and 23.6% had never smoked.

The report predicts that as the public’s awareness of the harmful effects of tobacco cigarettes and the advantages of e-cigarettes increases, it is expected to drive the growth of the U.S. e-cigarette market.