Market Size of Latin America E-Cigarettes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.74 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America E-Cigarette Market Analysis
The Latin American e-cigarette market is projected to register a CAGR of 5.74% during the forecast period.
- E-cigarettes and vaping devices are expected to gain significant traction during the forecast period due to the growing emphasis on adopting safer alternatives to smoking throughout the forecast. To meet the increasing demand for e-cigarettes and vape devices, vendors started to offer their products on the internet, including gifts with each purchase of vaping devices.
- People are increasingly using E-cigarettes or electronic nicotine delivery systems (ENDS) as a substitute for smoking or recreational purposes. Due to the growing health concern over conventional tobacco-based cigarettes, the e-cigarette market has witnessed significant growth over the past decade. In Latin America, vaping is either illegal, or the laws are uncertain about e-cigarettes.
- For example, vaping is banned in major countries like Argentina, Brazil, Mexico, and Venezuela, while there are no definite laws in countries like Peru and Colombia. As enforcement of e-cigarette laws is often open to local authorities, vape shops are usually found in places where they are technically illegal in the region. In the entire region, only five regions where the sale of e-cigarettes is legal and allowed are Chile, Ecuador, Honduras, Paraguay, and Costa Rica.
