According to the latest report by IMARC Group, titled "Latin America E-Cigarette Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Latin America e-cigarette market reached a value of US$ 150 Million in 2021. E-cigarettes refer to a type of cigarette that includes a battery, an atomizer, and an inhaler that simulates smoking without the inhalation of smoke. They are loaded with a nicotine-containing or nicotine-free liquid solution, which is heated and transformed into vapor before being breathed. These devices are gaining traction among young adults and millennial individuals and have been recognized as a preferred alternative to traditional cigarettes as they provide various benefits, such as zero smoke, no pollution, and lowered health-related problems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Latin America E-cigarette Market Trends:
The market in Latin America is majorly driven by the rising awareness regarding e-cigarettes being safer than traditional cigarettes, especially among the younger population. In line with this, the advent of an array of customization features, such as temperature control and nicotine concentrations, offered by key market players, is positively influencing the product demand. Furthermore, continually developing e-cigarette technologies, such as pod systems and squonk mods, are creating a positive outlook for the market. Apart from this, the widespread prominence of different flavors, such as menthol, tobacco, fruits and nuts, and chocolate, is providing a boost to the product uptake. Moreover, the growing cost-effectiveness of these devices has further enhanced customer adoption rates, which is expected to catalyze the market growth. Besides this, multiple companies are heavily investing in e-cigarettes as it is expected to be an effective alternative for tobacco consumption, thus favoring the market. Additionally, the increasing popularity of rechargeable e-cigarettes among the young population is providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 260 Million by 2027, exhibiting a CAGR of 8.8% during 2022-2027.
- On the basis of the product, the market has been segmented into modular, rechargeable, next-generation, and disposable e-cigarette.
- Based on the flavor, the market has been categorized into tobacco, botanical, fruit, sweet, beverage, and others.
- On the basis of the mode of operation, the market has been classified into automatic and manual e-cigarette.
- On the basis of the distribution channel, the market has been segmented into specialist e-cig shops, online, supermarkets and hypermarkets, tobacconist, and others.
- On the basis of the region, the market has been divided into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?
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