According to the latest report by IMARC Group, titled “Latin America E-Cigarette Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Latin America e-cigarette market size reached US$ 160 Million in 2022. E-cigarette, also known as an electronic cigarette or vaping device, is a handheld electronic device that simulates the experience of smoking by producing an aerosol, commonly known as vapor, which is inhaled by the user. It functions by heating the e-liquid, which usually contains nicotine, propylene glycol, glycerin, and flavorings, into an aerosol that can be inhaled. It is designed as an alternative to traditional tobacco cigarettes and offers a potentially less harmful way for smokers to replenish their nicotine cravings. It consists of a rechargeable battery and a replaceable cartridge containing e-liquid. It also often comes with adjustable settings for airflow and temperature. Furthermore, as it allows users to customize their vaping experience with different atomizers, coils, and e-liquid flavors, the demand for e-cigarette is rising in Latin America.
Latin America E-Cigarette Market Trends:
At present, the increasing smoking habits among the masses to cope with work stress and anxiety represents one of the crucial factors impelling the growth of the market in Latin America. Besides this, the rising awareness about the harmful aspects of smoking cigarettes, along with the increasing cases of lung cancer caused by traditional smoking, is contributing to the market growth in the region. In addition, the growing popularity of e-cigarettes among youngsters and millennials, along with the rising smoking of cigarettes among young individuals due to peer pressure, is offering a favorable market outlook. Apart from this, the increasing number of e-commerce brands selling e-cigarettes with various customizations is supporting the growth of the market in Latin America. Looking forward, the market value is projected to reach US$ 270 Million by 2028, expanding at a CAGR of 8.5% during 2023-2028.
- Based on the product, the market has been segmented into modular E-cigarette, rechargeable E-cigarette, next-generation E-cigarette, and disposable E-cigarette. At present, next-generation E-cigarette holds the biggest market share.
- On the basis of the flavor, the market has been divided into tobacco, botanical, fruit, sweet, beverage, and others. Currently tobacco represents the largest market share.
- Based on the mode of operation, automatic E-cigarette accounts for the majority of the total market share, followed by the manual E-cigarette.
- On the basis of distribution channel, the market has been classified intospecialist E-cig shops, online, supermarkets and hypermarkets, tobacconist, and others. Specialist E-cig shops currently exhibit a clear dominance in the market.
- Region-wise, the market has been segregated into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others. Amongst these, Chile enjoys the leading position in the market.
- The competitive landscape of the market has also been examined along with the profiles of the key players.
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||Product, Flavor, Mode Of Operation, Distribution Channel, Country
||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
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