Latin America E-cigarettes Market Report and Forecast 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