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Latin America E-cigarettes Market Size, Share, Forecast: By Type: Open Vaping System, Closed Vaping System (Disposable Devices); By Distribution Channel: Online, Offline; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators of Demand; Competitive Landscape; 2024-2032
Latin America E-cigarettes Market Outlook
The Latin America e-cigarettes market size is projected to grow at a CAGR of 7% between 2024 and 2032.
Key Takeaways
- The countries in Latin America with the highest e-cigarette usage rates are Chile, Ecuador, Honduras, Paraguay, and Costa Rica, as these are the only regions where the sale of e-cigarettes is legal and allowed.
- As per industry reports, Bolivia and Chile have the highest smoking prevalence in the region, with 40% and 38.7%, respectively, followed by Cuba with 35.9% and Argentina with 22.5%.
- Notable players in the market are InnokinTechnology, British American Tobacco PLC, Shenzhen Kanger Technology Co., Ltd., Shenzhen IVPS Technology CO. Limited, and Latam Vaping Co.
One of the primary market trends is the growing awareness about the health risks associated with traditional tobacco smoking, which is leading consumers to seek e-cigarettes, as they do not produce carbon monoxide or tar, two of the most harmful components of tobacco smoke. This trend is particularly prevalent among younger generations, who are more open to new alternatives.
Another key trend is the availability of a wide range of flavours and nicotine strengths in such cigarettes. For example, companies like JUUL Labs and Vuse have introduced a variety of flavors, such as mint, mango, and creme brulee, to appeal to a broader range of consumers.
E-cigarettes are also being widely used as a smoking cessation aid, further driving Latin America e-cigarettes market growth. As more people look for ways to quit smoking, e-cigarettes are becoming a popular option. This trend is continuing as smoking rates are already declining in Latin America.
Additionally, the introduction of disposable e-cigarettes that are often marketed as a more convenient and affordable alternative to traditional e-cigarettes is influencing Latin America e-cigarettes market share. This trend is particularly prevalent in developing markets, where disposable e-cigarettes are becoming a popular option for consumers looking for a less expensive and more accessible alternative to traditional e-cigarettes.
Open vaping systems allow users to customise their vaping experience by using their preferred e-liquid. The segment is anticipated to benefit from the growing trend of vapers experimenting with different flavours and nicotine strengths. Closed vaping systems, come pre-filled with e-liquid and are designed for convenience and ease of use. The segment is growing due to the increasing demand for user-friendly and discreet vaping options.
Market Segmentation
Latin America E-cigarettes Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Open Vaping System
- Closed Vaping System (Disposable Devices)
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Country
- Chile
- Colombia
- Paraguay
- Others
Competitive Landscape
Market players are navigating regulatory challenges, technological advancements, and the shift towards online retail channels to gain a competitive edge in the market.
- InnokinTechnology
- British American Tobacco PLC
- Shenzhen Kanger Technology Co., Ltd.
- Shenzhen IVPS Technology CO. Limited
- Latam Vaping Co.
- JUUL Labs, Inc.
- GEEKVAPE
- LOSTVAPE
- Shenzhen UWELL Technology Co., Ltd.
- Voopoo
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global E-Cigarettes Market Overview
8.1 Key Industry Highlights
8.2 Global E-Cigarettes Historical Market (2018-2023)
8.3 Global E-Cigarettes Market Forecast (2024-2032)
8.4 Global E-Cigarettes Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America E-Cigarettes Market Overview
9.1 Key Industry Highlights
9.2 Latin America E-Cigarettes Historical Market (2018-2023)
9.3 Latin America E-Cigarettes Market Forecast (2024-2032)
10 Latin America E-Cigarettes Market by Type
10.1 Open Vaping System
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Closed Vaping System (Disposable Devices)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Latin America E-Cigarettes Market by Distribution Channel
11.1 Online
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Offline
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Latin America E-Cigarettes Market by Country
12.1 Chile
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Colombia
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Paraguay
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 InnokinTechnology
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 British American Tobacco PLC
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Shenzhen Kanger Technology Co., Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Shenzhen IVPS Technology CO. Limited
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Latam Vaping Co.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 JUUL Labs, Inc.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 GEEKVAPE
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 LOSTVAPE
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Shenzhen UWELL Technology Co., Ltd.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Voopoo
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global E-Cigarettes Market: Key Industry Highlights, 2018 and 2032
2. Latin America E-Cigarettes Market: Key Industry Highlights, 2018 and 2032
3. Latin America E-Cigarettes Historical Market: Breakup by Type (USD Million), 2018-2023
4. Latin America E-Cigarettes Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Latin America E-Cigarettes Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
6. Latin America E-Cigarettes Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
7. Latin America E-Cigarettes Historical Market: Breakup by Country (USD Million), 2018-2023
8. Latin America E-Cigarettes Market Forecast: Breakup by Country (USD Million), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Latin America E-Cigarettes Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 7% between 2024 and 2032.
The market is being driven due to rising prevalence of smoking among the young population, rising shift towards e-cigarettes, and the availability of a wide range of flavours.
Key trends aiding the market expansion include the availability of a wide range of nicotine strengths, advanced technologies, and growing awareness about the health risks associated with traditional tobacco smoking.
Countries considered in the market are Chile, Colombia, and Paraguay, among others.
Based on type, the market segmentations include open vaping system and closed vaping system (disposable devices).
Online and offline distribution channels are considered in the report.
Key players in the market include InnokinTechnology, British American Tobacco PLC, Shenzhen Kanger Technology Co., Ltd., Shenzhen IVPS Technology CO. Limited, Latam Vaping Co., JUUL Labs, Inc., GEEKVAPE, LOSTVAPE, Shenzhen UWELL Technology Co., Ltd., and Voopoo, among others.
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