Argentina Electronic Cigarette Market Outlook

The electronic cigarette market of argentina, one of latin america’s leading economies, has seen immense growth in recent years. it is expected to continue to expand at a significant rate during the forecast period of 2018 and 2032, according to a recently released report by focus economics. in 2018, the market size of electronic cigarettes was estimated to be worth around us$407 million, primarily due to an increasing demand for safer and more sophisticated smoking products. this trend was boosted further by the introduction of various regulations and bans on combustible cigarettes, which forced customers to switch from traditional cigarettes to electronic ones. furthermore, the market has been experiencing a surge in the number of young users, with studies estimating that 20% of argentina’s population aged between 18 to 25 years use electronic cigarettes. this growth is being further propelled by the convenience and affordability of these products. in terms of technological development, the majority of electronic cigarette products have gone from being disposable to rechargeable and offer more efficient performance and longer battery life due to the use of new, advanced electronic chips and other technologies. this transition to improved technology has helped boost the industry's growth rate and has opened up new opportunities for other manufacturers and marketers as well. moreover, local and international companies are making massive investments in the region in order to capitalize on its booming market potential. many foreign players like pmi, juul, and varv have established their presence in the region with the hope of tapping into the rising demand from the growing consumer base. all in all, the argentine electronic cigarette market has a bright future and is set to register healthy growth in the years to come. the industry is expected to be worth over us$588 million by 2032, registering a cagr of 3.9% during 2018-2032. this growth is likely to be driven by the rising demand for safer and more sophisticated smoking products, coupled with the adoption of advanced technologies.