Market Insights Consumer Tobacco Products

E-Cigarettes - Nigeria

Nigeria

In Nigeria, the revenue generated in the E-Cigarettes market is projected to reach €147.8m in 2024.
It is expected that the market will experience an annual growth rate of 10.82% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with an estimated amount of €8,100m in 2024.
In Nigeria, the per person revenue in the E-Cigarettes market is forecasted to be €0.90 in 2024, considering the country's total population figures.
In Nigeria, the e-cigarette market is experiencing significant growth due to the increasing popularity of vaping among the younger population.

Key regions: Worldwide, Germany, Russia, China, Indonesia

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Often considered reduced-risk products, e-cigarettes have made up one of the most rapidly growing segments of tobacco products in the last decade. The E-Cigarettes market in North America is facing volatility and uncertainty due to a scandal concerning the popularity of these products amongst adolescents in the U.S., whereas the European market remains stable. The penetration rates of e-cigarettes remain low in the African, Asian, and South American market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on E-Cigarettes.

Modeling approach:

The segment size is determined through a bottom-up approach. In order to analyze the markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as smoking rates, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as the S-curve function and exponential trend smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.