The E-cigarette market has grown exponentially in recent years, reaching a market size of US$21.8 billion in 2022. These handheld, battery-operated devices simulate tobacco smoking without the smoke combustion. They utilize cartridges containing e-liquid, which is made up of propylene glycol, flavorings, other chemicals, and nicotine extracted mainly from tobacco. The device includes batteries, atomizers, and coils that transform the liquid into vapor, which is less harmful than traditional cigarettes.
To help you navigate the E-cigarette market, we’ve compiled a list of the top ten companies in the industry. These companies offer cost-effective E-liquids and E-cigarettes with various customization properties such as temperature control and nicotine concentrations.
Philip Morris International Inc. is a leading US-based multinational tobacco company that manufactures and supplies various smoke-free and nicotine-containing electronic devices and vapor accessories. The company offers IQOS heated tobacco, VEEV, and nicotine pouches as standard vapes that release flavors without burning. These smoke-free products undergo extensive reduced risk products (RRPs) assessments during the product development phase and scientific research.
Altria Group Inc., formerly known as Philip Morris Companies, Inc., is the owner of several major US-based companies with interests in tobacco products and wine. The organization includes profitable subsidiaries such as US smokeless tobacco company LLC (USSTC), John Middleton Co., Helix Innovations LLC, and Marlboro HeatSticks. The company offers oral tobacco-nicotine pouches or smokeless tobacco, e-vapor, and heated tobacco products with the exclusive rights to commercialize IQOS and Marlboro HeatStick variants in the US.
British American Tobacco PLC, established in 1902, is a foremost Financial Times Stock Exchange Group (FTSE) organization that deals with extensive tobacco manufacturing. They specialize in supply chain management, agricultural operations, research and development (R&D) activities, fast-moving consumer goods (FMCG), and corporate and regulatory affairs operations. The franchise recently launched consumer-centric BAT’s Vuse ePen 3 and Vuse ePod vaping products with the support of biometric technology to replicate the aroma profiles of items.
Japan Tobacco, Inc., established in 1985, is one of the leading vaping and tobacco companies that is focused on cigarette manufacturing, innovations, and sustainability activities. The brand’s domestic segment deals with the production and sale of various pharmaceutical, processed food, and tobacco-based products. Currently, they offer heated tobacco and e-cigarettes as main vaping product types. Amongst these categories, heated tobacco products encompass directly and indirectly heated vapor items, whereas e-cigarettes offer cig-a-likes and closed and open tank systems as standard variants.
Imperial Tobacco Group, established in 1901, is one of the world’s largest multinational consumer-focused tobacco companies that manufacture and market cigars and fine-cut tobacco on a large scale. They offer cigarettes, vapor, heated tobacco, oral nicotine, and other tobacco-based goods and accessories. Under these, Gauloises, Winston, Davidoff, John Player Special, and L&B are various well-renowned international brands that offer the above-mentioned product categories.
International Vapor Group, established in 2012, is an industry-leading company that emphasizes on manufacturing, marketing, and distributing diverse consumer goods, including alternative smoking accessories and consumables with active components. They consist of Zig-Zag, Stoker, and New Gen Product segments. Amongst these segregations, Zig-Zag includes Stoker’s, Beech-nut, and Trophy vapes, whereas Strokers comprises Nu-XTM vaping items. Apart from this, Vapor Beast, VaporFi, and Direct Vapor are common distribution channels that are associated with NewGen product segments.
NJOY Inc. is an independent electronic nicotine device (ENDS) company established in 2006. The company produces and sells vaping gadgets, e-cigarette kits, and salt PODs as a healthier alternative to combustible cigarettes. NJOY specializes in diverse technologies, e-liquids, and various other consumer items. Its products include vape e-cigs, rechargeable e-cigarettes, dailies, disposable electronic cigarettes, and pre-filled tanks, which come in various flavors that comply with the food and drug administration (FDA) standards.
Reynolds American Inc., established in 2004, is a wholly-owned affiliation of the BAT Group and the US parent company of R. J. Reynolds Tobacco Company (RJRT). It manufactures several innovative tobacco-based products for adults and has various subsidiaries that conduct distinct and diverse industrial operations. Some of these subsidiaries offer well-known brands like lucky strike, pall mall, grizzly, camel blue, or snus frost, the natural American spirit, Velo as e-cigarette, and other smoke-free product variants.
ElfBar is a rapidly growing electronic cigarette brand that was established in 2019. The company offers a wide range of disposable vapes, pods, and accessories that come in various flavors, including fruit, menthol, tobacco, and more. The brand is known for its high-quality products that provide a smooth and satisfying vaping experience. Some of its popular products include the ElfBar Lux, ElfBar RF350, and ElfBar Tango. According to market data, the brand’s global market share has grown steadily, reaching 5% in 2022. ElfBar’s success can be attributed to its focus on customer satisfaction, delivering high-quality products that meet the needs of vapers around the world, and having a strong online presence through its user-friendly website and active social media accounts. With continued investment in product development and marketing, ElfBar is expected to become a significant player in the electronic cigarette industry in the coming years.