Market overview
It looks into the size of the market both in volume and in value, the various customer
segments and buying patterns, the competition, and the economic environment in terms of
barriers to entry and regulation.
REF –
Grand View Research. (2022). E-cigarette And Vape Market Size, Share & Trends Analysis
Report By Product (Disposable, Rechargeable), By Distribution Channel (Online, Retail), By
Region, And Segment Forecasts, 2022 – 2030. Available at:
[Link]
From 2022 to 2030, the worldwide e-cigarette and vape market is predicted to increase at a
compound annual growth rate (CAGR) of 30.0 per cent. In 2021, the retail store category
contributed over 80% of the e-cigarette and vape market share. With a market share of
almost 40% in 2021, North America dominated the worldwide vape market.
Since 2017, the e-cigarette and vape business has expanded significantly, with devices that
are more efficient in terms of battery li Grand View Research. (2022). fe and the variety of
flavours available. A variety of flavours, including menthol, tobacco, fruits and nuts, and
chocolate, are also available on the market, drawing many clients. When used in an e-
cigarette or a vape device, these flavours emanate fragrances. Furthermore, the decreasing
cost-effectiveness of these devices has boosted customer adoption, which is likely to fuel
market growth throughout the forecast period.
Various research conducted by medical institutes and associations is expected to fuel
market expansion by raising awareness about e-cigarettes being safer than regular
cigarettes, particularly among the younger generation. The vendors' wide range of
customization features, such as temperature control and nicotine dosages, is projected to
boost product demand.
The consumption of e-cigarettes has been allowed in countries such as the United Kingdom,
which has considerably boosted industry growth. Additionally, vape shops have opened
where people can come in and try out the devices and e-liquid flavours before making a
purchase. Tank e-cigarettes have remained the most common device type in England; but,
due to the rise in JUUL (Juul Labs, Inc., an American electronic cigarette firm), pod e-
cigarettes have become the most popular.
The industry has negligible entry barriers for new participants, as new players can start their
businesses with very little money. To expand their client base and geographical reach, large
firms are adopting inorganic growth techniques such as partnerships, acquisitions,
collaborations, and strategic agreements.
Executive Summary
“The global e-cigarette and vape market size was valued at USD 18.13 billion in 2021 and is
expected to expand at a compound annual growth rate (CAGR) of 30.0% from 2022 to 2030”
(Grand View Research, 2022). Following these remarkable statistics, it is indisputable that e-
cigarettes have swiftly established themselves as a leading contender in the nicotine market.
Though this booming market poses impressive opportunities for shareholders, one cannot
ignore the detrimental environmental impact disposable e-cigarettes have. As e-cigarettes
bring plastic, nicotine salts, heavy metals, lead, mercury, and combustible lithium-ion
batteries into streams, soil, and wildlife, e-cigarette trash could pose a greater
environmental concern than cigarette butts (Truth Initiative, 2021).
Following this shocking research, the need to revolutionise the unsustainable product
design of e-cigarettes is compelling. Utilizing Elf Bar as a company model, the following
business plan demonstrates the strategy which can be followed to succeed in altering the
product design of disposable e-cigarettes.
Truth Initiative. (2021) A toxic, plastic problem: E-cigarette waste and the environment.
Available at: [Link]
plastic-problem-e-cigarette-waste-and-environment
POWERPOINT =
Executive Summary
- The global e-cigarette and vape market size is expected to expand at a compound
annual growth rate (CAGR) of 30.0% from 2022 to 2030.
- The market size was valued at 18.13 billion in 2021.
- E-cigarettes pose impressive opportunities from a stakeholder prospect, yet a
detrimental one when accounting for the environment.
- Using Elf Bar as a company model, this business plan demonstrates how to embrace
the worldwide sustainability issue.
Company Description
- Elf Bar's parent company, Vape Only Technology, is a leading manufacturer of
disposable E-cigarettes based in Shenzhen, China.
- The company claims to be “healthier and better”, differentiating itself as a safer
alternative to cigarettes yet this is not the case for the environment.
- Elf bar continues to develop and build the design of its devices in parallel with
consumer demands.