Full Answer
What is the global e-cigarette and vape market size?
The global e-cigarette and vape market size was valued at USD 18.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 30.0% from 2022 to 2030.
How are modular vape devices trending in North America?
Various vaping events, such as vape conventions and competitions, are organized regularly in North America, thereby stimulating the demand for modular devices in the region. The retail store segment accounted for the highest market share of over 84% in 2021. Earlier, e-cigarettes were sold in retail outlets such as vape shops and gas stations.
What is driving the growth of the vape shop market?
These shops assisted customers in selecting from a wide range of devices and e-liquids. Furthermore, vape shops allowing customers to try out and test these devices before making a purchase decision is expected to drive the retail store segment growth over the forecast period.
Which states have the most people vaping?
Vaping tends to be more common in states that also have higher rates of tobacco smokers. 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?
Which state has the lowest vaping rate?
How many people use e-cigarettes in 2017?
Is e-cigarette use an epidemic?
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How big is the US vape market?
The U.S. e-cigarette & vape market size was estimated at USD 6.1 billion in 2020 and is expected to reach USD 7.4 billion in 2021....Report AttributeDetailsMarket size value in 2021USD 7.43 billionRevenue forecast in 2028USD 40.25 billionGrowth RateCAGR of 27.3% from 2021 to 2028Base year of estimation20209 more rows
How many vaping companies are there?
Other devices, such as those with fillable tanks, may look different. Regardless of their design and appearance, these devices generally operate in a similar manner and are made of similar components. More than 460 different e-cigarette brands are currently on the market.
How big is the vape industry?
Revenue in the E-Cigarettes segment amounts to US$22.82bn in 2022. The market is expected to grow annually by 4.31% (CAGR 2022-2027). In relation to total population figures, per person revenues of US$3.97 are generated in 2022.
How much is the vaping market worth?
In 2018, the market for e-cigarettes globally was estimated to be worth more than 13 billion US dollars, and is predicted to continue its rapid growth over the coming years (see estimates here).
Are vape shops profitable 2022?
The answer is simple – the demand is increasing alongside the number of businesses in the industry. Many of the shops are enjoying average success, while some get the biggest slice of the cake. The average revenue of a vape shop can go around $26,000 with top earners making $39.000 per month.
What is the most sold vape?
Top 5 Bestselling Vaporizers of 2022BESTSELLING VAPORIZER. #1. Mighty Vaporizer. The vaporizer you will see on almost every list possible. ... BESTSELLER RUNNER UP. #2. PAX 3 Vaporizer. ... BEST FLAVOR. #3. Arizer Solo II. ... BEST DESKTOP VAPE. #4. Volcano Hybrid Vaporizer. ... MOST INTERESTING DESIGN. #5. Plenty Vaporizer.
How much profit does a vape store make?
An average vape shop reports around $26,000 in monthly sales or an annual profit of around $120,000. The truly successful ones get a much bigger piece of the cake. That being said, vape shops can be really profitable as long as they are managed properly.
What is the vape capital of the world?
ShenzhenIn Shenzhen, a city just north of Hong Kong, about 90% of the world's vaping and e-cigarette devices are designed and manufactured in about 1,000 factories.
Where is vaping most popular in the US?
Millions of Young VapersStateCrude Prevalence (%)1. Oklahoma7.12. Kentucky6.13. Indiana6.04. Tennessee5.946 more rows•Jun 6, 2019
What is the future of vape industry?
Receive the Sample Report of E-cigarette and Vape Market 2022 to 2030: The worldwide E-cigarette and Vape market is expected to grow at a booming CAGR of 2022-2030, rising from USD billion in 2021 to USD billion in 2030.
How fast is the vape industry growing?
“According to the latest research study, the demand of global E-Cigarette Market size & share in terms of revenue was worth of USD 17,429.5 million in 2021 and it is expected to surpass around USD 42,906.36 million mark, by 2028, growing at a compound annual growth rate (CAGR) of about 16.20% during the forecast period ...
Who is the target market for vaping?
The research highlighted that e-cigarettes were being targeted at two distinct consumer groups: The committed smoker, Young social smoker or non-smoker.
What companies sell vaping products?
Notable Vape CompaniesBlu.Logic.Apollo Electronic Cigarettes.Eco-Cigs.Njoy.Ritchy.SMOK.Volcano Fine Electronic Cigarettes.
What are some vape companies?
10 Best Vape Brands & Manufacturers For 2022Innokin.SMOK.Aspire.Voopoo.Uwell.Geekvape.Elf Bar.Vaporesso.More items...•
What company makes the most Vapes?
Vaporesso brings luxury to the vape market with well-crafted devices with a fine finish. They certainly have some might behind them – the company is a subsidiary of Smoore, which is the largest vape manufacturer in the world.
What is the biggest vape brand?
Without doubt SMOK has the biggest output of all vape brands. But it's not just about quantity, SMOK has some of the highest quality and most loved vape kits on the market today.
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...
20 Vaping Statistics & Facts to Learn in 2022 - Modern Gentlemen
Marija Kovachevska. Marija is a content writer, biochemist, and communications associate for several nonprofit organizations. After earning her bachelor’s, she worked as a scientific writer before engaging in the world of nonprofits—first as an English translator and an activist, and later, as head of communications.
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 most vape stores?
The Yelp data show that western states are the center of of the vape business. Nevada has by far the most vape stores per capita, with 6.7 for every 100,000 residents. The vast majority of these are in Las Vegas, which frequently hosts vaping trade shows and conferences, such as Vapefest 2016. Hawaii is the only other state with more than six stores per 100,000 residents. Oklahoma, Florida and California round out the top five states.
Why are vape stores so small?
One probable reason for the smaller numbers of vape stores in some places is the passage of state laws regulating them. Four of the states with the fewest vape stores require a license for over-the-counter sales of e-cigarettes—Arkansas, Indiana, Iowa, and Wisconsin. None of the states with highest concentrations of vape stores have such a law. (pdf)
Does Nevada tax e-cigarettes?
Correction (7:40am ET): This article previously reported that Nevada had passed a tax on e-cigarettes. However, that law was revised to exempt e-cigarettes before it was passed.
Is vaping a regulated business?
Reliable data about anything related to vaping are very difficult to come by. Unlike tobacco products, e-cigarettes are almost completely unregulated, so few federal agencies collect information about them. Vape shops aren’t even a recognized category in the business classification codes used by the US Census Bureau.
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.
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 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. ...
