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Global Novel Nicotine Market Projected to Reach $65 Billion in 2024

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NOVEL NICOTINE PRODUCTS,MARKET GROWTH,VAPES

The global novel nicotine product market is set to reach $65 billion in 2024 with 120 million users, driven by significant growth in vapes, nicotine pouches, and heated tobacco products. While North America dominates the vape market, nicotine pouches are experiencing the fastest growth globally at 80%. However, illicit nicotine products, particularly vapes, pose a major challenge to the industry's progress, accounting for an estimated 60% of the market.

In 2024, the global novel nicotine product market is projected to reach $65 billion with 120 million users worldwide. This growth, while substantial, is distributed unevenly across regions. Data from the ECigIntelligence Global Database, released in September 2024, reveals that vapes dominate the North American market. However, nicotine pouches are the fastest-growing product with an annual growth rate of 80%.

“The illicit market is huge in many countries, particularly in the vape sector. We’re also seeing illicit activity in nicotine pouches and heated tobacco. Illicit trade is an existential problem for the vape industry,” said Tim Phillips, Founder and Managing Director of ECigIntelligence, during the recently concluded 2024 E-Cigarette Summit in the United Kingdom.

The online marketplace has also emerged as a hotspot for illicit nicotine trade, primarily due to lax restrictions in some countries. Phillips warned that failure to regulate the illicit vape market could lead to blanket bans on all vape products, including safer, legal options, thus undermining efforts to reduce the harm caused by smoking combustible tobacco products.

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