Disposable vaping, rechargeable vaping and modular devices are the three major segments of the vapour products market. Rising acceptance of different vaping devices among young adults and adolescents is set to drive market growth.

Disposable vaping is a ready-to-vape product that is assumed to be a safe alternative to rechargeable e-cigarettes which is expected to act as a positive factor for the market. Demand for disposable e-cigarettes is expected to grow at a higher pace in developing countries, majorly due to their cost-effectiveness. In the past few years, the disposable vape market has experienced a significant resurgence, making it appealing for adult smokers trying for years to quit traditional cigarettes. The market will continue to grow in the future as consumers shift toward less harmful smoking methods that don't require refills or charging.

The demand for Rechargeable vaping is also expected to increase as they tend to be affordable and minimize the need to re-purchase supplies, such as cartridges. The device has witnessed significant development in recent years, with surging growth in the coming years. The rechargeable segment accounted for the highest market share in 2021 and are anticipated to become more popular due to their affordability and minimizing the need to re-purchase supplies, such as cartridges.

The third product segment, the modular device segment is expected to be the fastest-growing segment over the forecast period as these devices are highly customizable, allowing users to adjust the vapour flavors according to their preferences. It can be refilled and allows the user to regulate the power delivered from the system’s battery to the atomizer. Modular segment is expected to account for the fastest growth in coming years. The major factor influencing the demand for modular vapes is that these devices offer high-level customization options to combine different features and parts. Depending on individual needs, these parts and components alter the flavor and the amount of vapor generated from the device.

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