how big is the vaping industry in the us

Full Answer

How many people vape in the US?

It’s estimated that the number of adults who vape will reach nearly 55 million by 2021. Meanwhile, the United States is the biggest market, followed by the UK and France. Vapers in the three countries spent more than $10bn on smokeless tobacco and vaping products in 2018.

What is the e-cigarette & vape market size?

The U.S. e-cigarette & vape market size was valued at USD 6.09 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 27.3% from 2021 to 2028. The market growth can be attributed to the increasing awareness of safer tobacco alternatives.

What is the future of the vaping industry?

With an increasing shift away from conventional cigarettes towards tobacco alternatives, the vaping industry is projected to have a compound annual growth rate of 19.6% between 2018 and 2023. The result will mean a global projected market value of $45bn USD. But where is the growth coming from?

Which countries are leading the global vape market?

Meanwhile, the United States is the biggest market, followed by the UK and France. Vapers in the three countries spent more than $10bn on smokeless tobacco and vaping products in 2018.

How big is the e-cigarette and vape market?

The global e-cigarette & vape market size was estimated at USD 18.13 billion in 2021 and is expected to reach USD 22.45 billion in 2022. Read More

What is the e-cigarette and vape market growth?

The e-cigarette & vape market is expected to witness a compound annual growth rate of 30.0% from 2022 to 2030 to reach USD 182.84 billion by 2030....

Which device type led the e-cigarette and vape market?

The rechargeable segment in the e-cigarette & vape market accounted for the highest market share of over 40% in 2021. Read More

Which distribution channel dominated the e-cigarette and vape market?

The retail store segment accounted for the highest e-cigarette & vape market share of over 80% in 2021. Read More

Which region accounted for the largest e-cigarette and vape market share?

North America dominated the global e-cigarette & vape market with a share of over 40% in 2021. Read More

Who are the key companies/players in the e-cigarette and vape market?

Key players in the e-cigarette & vape market include Altria Group, Inc.; British American Tobacco; Imperial Brands; International Vapor Group; Japa...

How many vapers will be there in 2021?

It’s estimated that the number of adults who vape will reach nearly 55 million by 2021. Meanwhile, the United States is the biggest market, followed by the UK and France.

Is the United States a wellness country?

It is no secret that the United States has experienced an elevated level of health and wellness awareness –– a burgeoning paradigm shift. The wellness economy is upon us, and healthy living is a big business.

Is vaping safer than smoking?

In March 2020, England’s leading health agency released its annual report on vaping, which argues that vaping nicotine is indeed a safer alternative to smoking.

Does the FDA have regulatory measures?

FDA regulatory measures have not been applied industry-wide. For example, if “a company can demonstrate to the FDA that a specific product meets the applicable standard set forth by Congress, including considering how the marketing of the product may affect youth initiation and use, then the FDA could authorize that product for sale.”

Is regulation important in vaping?

On the one hand, regulation can be critically important to our well-being. On the other hand, regulatory actions often come at a cost that exceeds the benefit, and at times can prove counterproductive. The U.S. vaping industry performance will be conservatively optimistic in the short-term.

Is smoking a bad habit?

For decades, it has been widely known that smoking is extremely harmful to our health, and is decidedly a toxic habit that’s hard to break. As a result, smoking treatment products, programs, and alternatives have become a billion-dollar industry that shows no sign of slowing growth.

Do e-cigarettes have societal concerns?

Ultimately, e-cigarette manufacturers that ensure societal concerns are kept in mind as they bring cutting-edge products to market will remain at the forefront in years to come. This will involve a self-regulating “lead-by-example” shift in the way new products are manufactured and marketed.

How much money did cigarettes make in 2019?

The top product generated sales of over 12 billion U.S. dollars that year. Cigar dollar sales, by comparison, amounted to some 400 million U.S. dollars.

What is the market share of Juul in 2020?

Vaping market share in the United States in 2020, by brand. Published by Jan Conway , Sep 18, 2020. Juul accounted for 63 percent of all U.S. nicotine vaping sales in 2020, making it the largest nicotine vaping brand in the United States by far. Accounting for about a quarter of that year's dollar sales, Vuse stood in second place.

Who owns Marlboro tobacco?

Marlboro, one of the leading tobacco companies, is owned by Philip Morris International, which made roughly 30 billion U.S. dollars of net sales one year earlier.

What is the market for vaping in 2020?

North America dominated the global market with a share of over 40% in 2020. The extensive presence of major industry players such as R.J. Reynolds Vapor Company; Philip Morris International Inc.; and JUUL Labs, Inc. is anticipated to drive the regional market growth. Social media platforms are being used extensively for selling e-cigarettes and vaping products. The young population has largely adopted vaping devices as a safe alternative to tobacco, which, in turn, is estimated to boost the adoption of these products. However, the current ban on some e-cigarette flavors including fruit and mint flavors in the U.S. to restrict underage vaping in the country is expected to hamper the growth of the market in the region to a certain extent.

Where are e-cigarettes imported from?

Given that most of the e-cigarettes are imported from other countries such as China, customers find it convenient to purchase e-cigarettes in bulk quantities via online platforms, which is anticipated to drive the Asia Pacific regional market growth. The Europe market is anticipated to register considerable growth over the forecast period. The health bodies in the region are providing acceptance to e-cigarette and vape from vendors such as British American Tobacco Plc’s Vype and Imperial Brands Plc’s Blu in the region as it is a better alternative to tobacco smoking is anticipated to drive the market growth in Europe.

What is the purpose of Juul Labs marketing campaign?

embarked upon a marketing campaign in January 2019 to educate adult smokers about the ill effects associated with traditional combustible cigarettes and encouraged them to avoid the same and switch to e-cigarettes and vape devices. Such marketing initiatives are anticipated to drive market growth over the forecast period.

What are the flavors of e-cigarettes?

Additionally, various types of flavors such as menthol, tobacco, fruits and nuts, and chocolate are available in the market, which is attracting a large number of customers. These flavors emit aromas when used in an e-cigarette or a vape device. Additionally, the increasing cost-effectiveness of these devices has further enhanced customer adoption and is expected to drive market growth over the forecast period.

What is a Vype iSwitch Maxx?

For instance, in December 2018, British American Tobacco launched two new e-cigarettes called Vype iSwitch Maxx and Vype iSwitch in five of BAT’s VIP stores in London. These new products are powered by distiller plate technology to heat e-liquid.

What is the market share of rechargeable devices in 2020?

The rechargeable segment accounted for the highest market share of over 40% in 2020. The adoption of rechargeable devices is expected to increase as they tend to be affordable in the long run and eliminate the need to re-purchase supplies such as cartridges. Furthermore, customers making DIY e-liquids need not purchase pre-filled cartridges. Rechargeable devices can be used for a longer duration by switching the cartridges containing e-liquid. Moreover, seasoned vapers particularly find it economical to purchase rechargeable e-cigarettes and vapes, which is expected to increase their adoption.

What is the market share of e-cigarettes in 2020?

The retail store segment accounted for the highest market share of over 80% in 2020. E-cigarettes were initially sold in retail outlets such as vape shops and gas stations. These stores helped users to choose from a wide variety of devices and e-liquids. Moreover, vape shops enabled users to try and test these devices before making ...

Which state has the lowest vaping rate?

Kentucky, for example, had the second-highest rate of both adults who vape (6.1%) and tobacco smokers (24.6%) in 2017. California, meanwhile, had the lowest rate of vaping (3%) and the second-lowest rate of tobacco smokers (11.3%).

How old are you when you vape?

Younger adults are more likely to vape than older adults. In fact, adults between 18 and 24 years old are three times more likely than average to use e-cigarettes or a similar vaping product, and adults between 25 and 34 years old are twice as likely.

How many people use e-cigarettes in 2017?

Survey data shows 4.6% of adults currently used e-cigarettes or a similar device in 2017, compared with 4.7% in 2016.

Is e-cigarette use an epidemic?

surgeon general – have deemed e-cigarette use among youth an "epidemic. " Questions also have swirled over whether e-cigarettes are effective as a smoking-cessation tool, or whether they merely offer another path to nicotine addiction. ...

Why do people vape?

The reason many consumers enjoy vaping is it offers a similar experience of inhaling and exhaling to get a nicotine fix. They’re also more aware of the ingredients and chemicals in both vaping and smoking. With e-liquids containing only four ingredients, including nicotine, there are significantly less than the 4000+ in cigarettes, many of which are carcinogenic. They’re also more receptive to the options vaping carries including different devices and flavours.

How much is Juul worth?

Juul alone is worth an estimated $16bn and currently carries just one device with the corresponding pods. There are thousands of manufacturers the world over catering to the increased demand for device type and e-liquid flavours.

Is vaping better than smoking?

The success rate of quitting with more conventional methods like patches or gum is significantly lower than that of vaping. A quit attempt with vaping has a 30% success rate, significantly higher than the 4-5% success rate when utilising other methods.

Is vaping a profitable business?

Vaping is a profitable business in western countries. The main reason for gaining popularity is the presence of different types of flavours. In Australia, nicotine is prohibited and non-nicotine vapes are available. This is an additional advantage of using vapes in this country. I want to start an online vapor shop in Sydney. With the help of wholesale vapor suppliers I am able to get the main ingredients for vapor liquids. From your article, I came to know about the point on how to enhance the quality of the product and how to increase the public interest in vaping.

How many people died from vaping in 2020?

Vaping caused the death of sixty-eight people in the US between December 3rd, 2019 and February 18th, 2020. These deaths occurred across the US—in 29 states and the District of Columbia.

What is the risk of vaping?

Perhaps the main risk that vapers face is developing what is called an e-cigarette and vaping use-associated lung injury or EVALI. Its outbreak in 2019 turned out to be strongly linked to the presence of vitamin E acetate in e-cigarette products.

What is the second most popular vape brand?

Vuse came in second with approximately 24% of total nicotine vaping product sales, followed by blu (6%). Njoy reached no more than 2%, while all other brands reached about 1%.

What are the ingredients in vaping?

The usual ingredients of e-liquids used in vaping include: nicotine, THC, CBD, flavors, sweeteners, and solvents (vegetable glycerin and propylene glycol).

What is the most popular flavor of vape?

The most popular are fruit flavors, followed by mint, menthol, candy, and other sweets. To stop advertising vaping through flavored e-cigarettes, the FDA issued a policy that prohibits the use of any other pre-filled cartridge other than menthol and tobacco, unless approved by the FDA.

How many Americans ignore the negative effects of e-cigarettes?

Only 6% of adult Americans ignore the negative effects of e-cigarettes on one’s health. About 59% of the surveyed have heard a lot about vaping and smoking e-cigarettes possibly leading to respiratory problems. Finally, 14% claim they’re vaguely informed about the topic.

Can an e-cigarette explode?

Unfortunately, data show that such incidents are not infrequent—quite the opposite. E-cigarette explosions tend to be linked to battery malfunctions, which can lead to serious injuries and even be fatal.

What companies make vapes?

Two notable vape companies included in the report were KangerTech Technology Co., Ltd and IVPS Technology Co. , Ltd. KangerTech is by now a well-known name in the vaping community. It not only releases e-cigarettes under the KangerTech brand name but also under several other names. IVPS is the parent company of the hugely successful SMOK brand of e-cigarettes that sells a wide range of vaping products worldwide.

How much is the e-cigarette market worth in 2028?

The analysis claims that the size of the US e-cigarette market is expected to reach $40.25 billion by 2028. That figure is expected to go even higher, as the analysis predicts revenues to reach $60 billion by 2025.

What are the factors that drive the growth of the e-cigarette market?

Two factors driving the growth of the US e-cigarette market are, according to the report, the popularity of the devices (as well as the waning popularity of combustible cigarettes), along with the heightened interest from younger consumers. Youth interest in vaping has become a minefield for the industry, though. Anti-smoking and anti-vaping groups continue to accuse the industry of marketing to minors and driving up the rates of teens vaping in America.

Where is SMOK based?

t also took into account many different types of companies from large, multinational conglomerates like Altria and Philip Morris International (PMI) to more vape-specific companies like KangerTech and the parent company of SMOK, IVPS Technology, both based in Shenzhen, China.

Is the e-cigarette industry growing?

The e-cigarette industry has always been projected to grow. This growth has even been confirmed by research from the CDC. Its data showed that e-cigarette sales in the US from 2016 to 2019 increase by almost 300%. Smoking rates have been steadily decreasing for many years now, and people are increasingly turning to vaping rather than smoking.

Is the US market the most valuable?

The report concedes that the US market is the most valuable and potentially the most profitable for all the companies involved. One limitation to growth is the tax regulations that are popping up in disparate states across the US. There is no blanket national tax rate, so companies must contend with the tax regimes set up by individual states to do business.

Will the e-cigarette market grow?

The market report said that the e-cigarette market would continue to grow, but some sectors would see more growth than others. Specifically, the demand for customizable and refillable vaping devices, which are more potent than typical disposable or pen-style devices, was expected to grow more than any other sector.