Nigeria E-cigarette Market (2024-2030) | Industry, Size, Forecast, Value, Companies, Share, Outlook, Trends, Growth, Analysis & Revenue

Nigeria E-cigarette Market Highlights

Report Name	Nigeria E-cigarette Market
Forecast period	2024-2030
CAGR	20%
Growing Sector	Hospitality

Topics Covered in the Nigeria E-cigarette Market Report

The Nigeria E-cigarette Market report thoroughly covers the market by Device Type, Demography, and Sales Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria E-cigarette Market Synopsis

The Nigeria E-cigarette Market has witnessed growth in the past years and is projected to experience exponential growth in the coming years. This growth is driven by factors such as rising awareness about health, rising population, government initiatives, and the growing economy of the country.

According to 6Wresearch, the Nigeria E-cigarette Market size is expected to grow at a significant CAGR of 20% during 2024-2030. One of the major driving forces behind the growth of the e-cigarette market in Nigeria is the increasing awareness about the health risks associated with traditional cigarettes. Moreover, with the increasing economy of the country, there is a rise in disposable income of consumers. This has resulted in more people being able to afford expensive e-cigarette products, thereby leading to an increase in sales. Additionally, the young generations are more aware and adaptable to technologies. This has resulted in a shift towards e-cigarettes among the younger generation.

There is a lack of clear regulations governing the sale and use of e-cigarettes. This creates uncertainty for both manufacturers and consumers, which can hinder the growth of the market. Another challenge for the market is competition from traditional cigarettes. Moreover, there is still a lack of education and understanding about these products among the general public.

Nigeria E-cigarette Industry: Leading Players

Some of the major players operating in the Nigerian e-cigarette market include JUUL Labs Inc., Philip Morris International, British American Tobacco PLC, Imperial Brands PLC, Altria Group Inc., Innokin Technology Co., Ltd., Fontem Ventures B.V., NJOY LLC, Nicopure Labs LLC, and VMR Products LLC. These key players have a strong presence in the Nigerian market and are continuously innovating and launching new products to meet the growing demand for e-cigarettes. They also invest heavily in marketing and advertising strategies to increase consumer awareness and promote their brands.

Nigeria E-cigarette Market: Government Regulations

One of the key initiatives is the implementation of regulations and policies that support the sale and distribution of e-cigarettes. Moreover, there have been efforts by both federal and state governments to educate the public about the benefits of e-cigarettes. The Nigerian Ministry of Health has launched campaigns to raise awareness about the harm reduction potential of e-cigarettes compared to traditional cigarettes. The government has also taken steps to regulate advertising and marketing practices for e-cigarette products. Additionally, the Nigerian government has implemented taxes on traditional tobacco products, making them less affordable and potentially pushing consumers towards safer alternatives like e-cigarettes. Furthermore, the government is working towards creating a regulatory framework for the manufacturing and distribution of e-cigarettes in the country.

Future Insights of the Market

The Nigeria e-cigarette market is expected to experience significant growth in the coming years. With a large youth population and increasing disposable income, there is a growing demand for alternative tobacco products in the country. The introduction of new regulations by the government has also brought more legitimacy to the industry, attracting more players and investments. Technological advancements such as heat-not-burn devices and nicotine salts-based e-liquids are gaining popularity among consumers, driving market growth. Moreover, with cigarette smoking still prevalent in Nigeria, there is a potential for further market expansion as more people look for alternatives to traditional tobacco products.

Market Segmentation by Device Type

According to Ravi Bhandari, Research Head, 6Wresearch, the modular/re-chargeable e-cigarettes segment is expected to experience significant growth due to their increasing popularity among consumers. This is attributed to their customisable features and longer battery life.

Market Segmentation by Sales Channel

Based on the sales channel, the online segment is expected to grow in the market. This can be attributed to the convenience and ease of purchasing e-cigarettes online, the availability of a wider range of products, and competitive pricing.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Nigeria E-cigarette Market Overview
• Nigeria E-cigarette Market Outlook
• Nigeria E-cigarette Market Forecast
• Nigeria E-cigarette Market Size and Nigeria E-cigarette Market Forecast until 2030
• Nigeria E-cigarette Market Share, By End-user
• Nigeria E-cigarette Market Share, By Product
• Nigeria E-cigarette Market Share, By Distribution Channels
• Nigeria E-cigarette Market Share, By Region
• Historical Data of Nigeria E-cigarette Market Revenues and Volume for the period, 2020-2030
• Market size and Forecast of Nigeria E-cigarette Market Revenues and Volume until 2030
• Historical Data of Nigeria E-cigarette Market Revenues and Volume, By End-user, for the Period 2020-2030
• Market size and Forecast of Nigeria E-cigarette Market Revenues and Volume, By End-user, until 2030
• Historical Data of Nigeria E-cigarette Market Revenues and Volume, By Product, for the Period 2020-2030
• Market size and Forecast of Nigeria E-cigarette Market Revenues and Volume, By Product, until 2030
• Historical Data of Nigeria E-cigarette Market Revenues and Volume, By Distribution Channels, for the Period 2020-2030
• Market size and Forecast of Nigeria E-cigarette Market Revenues and Volume, By Distribution Channels, until 2030
• Historical Data of Nigeria E-cigarette Market Revenues and Volume, By Region, for the Period 2020-2030
• Market size and Forecast of Nigeria E-cigarette Market Revenues and Volume, By Region, until 2030
• Nigeria E-cigarette Market Drivers and Restraints
• Nigeria E-cigarette Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Nigeria E-cigarette Market Opportunity Assessment
• Nigeria E-cigarette Market Revenue Share, By Company
• Nigeria E-cigarette Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report provides a detailed analysis of the following market segments:

By Device Type

• Modular/Re-chargeable E-cigarettes
• Disposable e-cigarettes

By Demography

• Gender

1. Male
2. Female

• Age Group

1. 14-19 years
2. 20-39 years
3. 40-59 years
4. 60 & above years

By Sales Channel

• Online
• Offline