The E-cigarette Market Size Is Expected To 34.29 Billion USD By 2031

According to DreamNews report. The global e-cigarette device market growth (2025-2031) report released by market research firm LP Information. The report states that electronic cigarette devices (including disposable vape and reusable devices) are maintaining a steady expansion trend driven by technological progress and regulatory evolution. The report predicted that the compound annual growth rate of the market will be 9.4% from 2025 to 2031. And the scale will reach 34.29 billion US dollars by 2031.

Overview of key points:

1. LPI predicts a CAGR of 9.4% from 2025 to 2031, with a scale of 34.29 billion US dollars in 2031;
2. By 2024, the top ten manufacturers will account for approximately 44% of the total sales revenue;
3. The improvement of battery life and temperature control, miniaturization and expansion of disposable products, and the joint shaping of industry trends with local regulations/certifications.

The report also provides the industry’s competitive landscape and a list of top players. According to its 2024 research data, the top ten global manufacturers account for approximately 44% of the market share in terms of sales revenue.
Representative market participants include: ELFBAR (vape brand), British American Tobacco (BAT), SKE Crystal (vape brand), Philip Morris International (PMI), Imperial Brands (company, formerly known as Imperial Tobacco), RELX (vape brand and vape company name), Altria, Smoore International(top CBD vape hardware manufacturer), Japan Tobacco International(JTI / heating tobacco product brand), FirstUnion (vape manufacturer company), etc.

In terms of product and application composition, the report categorizes them into electronic cigarettes (E-cigs) and vaporizers; The application dimensions include male and female. The report also pointed out that the improvement of battery life and temperature control functions, the trend towards miniaturization, and the expansion of disposable products are jointly shaping the industry’s direction with regulatory and certification requirements in various regions.

LP Information (Chinese name: Luyi Market Strategy, abbreviated as LPI) is a market research and consulting firm/report publisher founded in 2016, providing market research reports, customized research, and consulting services for various industries.

Reference:電子タバコ用デバイスの世界市場調査レポート:成長、収益、メーカー収入、販売、市場動向2025~2031年 | LP Information Co.,Ltdのプレスリリース