How big is the global vape market?
The global market is now estimated to be worth $19.3bn (£15.5bn) - up from $6.9bn (£5.5bn) just five years ago. The United States, United Kingdom and France are the biggest markets. Vapers in the three countries spent more than $10bn (£8bn) on smokeless tobacco and vaping products in 2018.
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?
How much money do vapers spend on smokeless tobacco?
Vapers in the three countries spent more than $10bn (£8bn) on smokeless tobacco and vaping products in 2018. The White House recently announced that the Food and Drug Administration (FDA) would finalise a plan to stop the sale of all non-tobacco flavours in the world's biggest vaping market.
Why is the adoption of vape devices on the rise?
Thus, the adoption of vape devices is expected to increase over the forecast period, particularly among individuals smoking for recreation and among smokers working toward quitting smoking altogether. Several countries across the globe have witnessed an increase in indoor smoking owing to lockdowns announced amid the COVID-19 pandemic.
How much is the vaping market worth?
Why is the demand for e-cigarettes increasing?
Why are e-cigarettes so popular?
How much nicotine is in e-liquid?
How many industry reports does Business Research Company have?
What are the side effects of using an e-cigarette?
Why do e-cigarettes have side effects?
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How much is the vape industry worth?
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....Report AttributeDetailsMarket size value in 2022USD 22.46 billionRevenue forecast in 2030USD 182.84 billionGrowth rateCAGR of 30.0% from 2022 to 203011 more rows
How much money is spent on vaping a year?
Use of electronic cigarettes costs the United States $15 billion annually in health care expenditures – more than $2,000 per person a year – according to a study by researchers at the UC San Francisco School of Nursing.
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 ...
How much money does vaping make?
The e-cigarette maker's sales have skyrocketed in recent years, going from 2.2 million devices sold in 2016 to 16.2 million in 2017. This growth was in part due to increased sales of a small e-cigarette that resembles a USB flash drive. Juul forecasts its 2019 revenue to be $3.4 billion.
Which is more expensive vape or cigarette?
The quick and simple answer is that vaping can save you an estimated 92% if you smoke a pack per day. But there will be many factors that can change this estimate.
What percentage of people vape?
Key findings. In 2018, 14.9% of adults had ever used an electronic cigarette (e-cigarette), and 3.2% were current e-cigarette users. The prevalence of adults who had ever used an e-cigarette and were current users was highest among men, non-Hispanic white adults, and those aged 18–24.
How large is the vaping market?
Market Overview The e-cigarette market valued USD 23.6 billion in 2021, and is projected to record a CAGR of 13.39% during the forecast period (2022-2027). Regular smoking is linked to a number of severe diseases.
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.
Where is vaping most popular?
Vaping is increasing in the majority of high-income countries. E-cigarette use in the US and Europe is higher than in other countries, except for China which has the greatest number of e-cigarette users.
Is the vape industry growing?
Pune, Feb. 24, 2022 (GLOBE NEWSWIRE) -- The global E-Cigarette and Vaporizer market was valued at USD 9821.6 in 2020 and will reach USD 18370 million by the end of 2027, growing at a CAGR of 11.0% during 2022-2027.
Is vaping worse than smoking?
1: Vaping is less harmful than smoking, but it's still not safe. E-cigarettes heat nicotine (extracted from tobacco), flavorings and other chemicals to create an aerosol that you inhale. Regular tobacco cigarettes contain 7,000 chemicals, many of which are toxic.
How many kids are vaping?
2022 Findings on Youth E-Cigarette Use In 2022, about 1 in 10 or more than 2.5 million U.S. middle and high school students currently used e-cigarettes (past 30-day). 14.1% (2.14 million) of high school students and 3.3% (380,000) of middle school students reported current e-cigarette use.
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 age can you buy a vape?
Part of the Food and Drug Administration's 2016 Deeming Rule was a federal ban on the sales of vapor products to those under age 18. By deeming the tobacco-free devices and e-liquids to be tobacco products, they automatically fell under the existing federal restriction on selling tobacco products to minors.
Is vaping cheaper than smoking Canada?
Total costs Although these costs might seem like they can add up, vaping still tends to be much cheaper than smoking cigarettes.
How much do vape shop owners make a year?
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.
How much money did vapers spend on vaping in 2018?
Vapers in the three countries spent more than $10bn (£8bn) on smokeless tobacco and vaping products in 2018. The White House recently announced that the Food and Drug Administration (FDA) would finalise a plan to stop the sale of all non-tobacco flavours in the world's biggest vaping market.
What are the health risks of vaping?
The World Health Organization has also previously cited several health concerns associated with vaping, pointing out that: 1 The long-term effects are unknown 2 Nicotine in the liquid that is vapourised in an e-cigarette is addictive 3 Users replacing the liquid in refillable e-cigarettes might spill the product on their skin, possibly leading to nicotine poisoning 4 Some sweeter flavours of e-cigarettes are irritants, potentially causing inflammation of the airways
How many vapers will be there in 2021?
Market research group Euromonitor estimates that the number of adults who vape will reach almost 55 million by 2021. 2. Spending on e-cigarettes is growing. The e-cigarette market is expanding, as the number of vapers rises.
How many smokers are there in the world?
According to the World Health Organization, there has been a small but steady decrease in the estimated number of smokers globally, to just over one billion.
Which state banned e-cigarettes?
In the US, Michigan has become the first state to ban flavoured e-cigarettes, following the reports of deaths and lung illness. Those affected had an average age of 19.
Is the e-cigarette market expanding?
The e-cigarette market is expanding, as the number of vapers rises.
Is there a ban on vaping?
A ban on the sale of flavoured e- cigarettes has been announced by US President Donald Trump, after a number of vaping-related deaths.
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 much did e-cigarettes sell in 2016?
U.S. e-cigarettes dollar sales 2014-2018. Electronic cigarettes generated about 2.35 billion U.S. dollars in sales in the United States in 2016. This figure is expected to increase to 3.6 billion U.S. dollars by 2018.
What percentage of millennials use e-cigarettes?
According to a 2018 survey, 80 percent of U.S. Millennials between the ages of 22 and 37 years have vaped or used an e-cigarette, compared to 55 percent of Generation X consumers, and 38 percent of Baby Boomers.
Is there a decline in the sales of smokeable products?
Following the widespread public health campaign to spread awareness about the negative effects of smoking, the sales volume of smoke-able products in the United States has seen a steady decline between 2009 and 2018. Consumers are now opting for smoke-free options, such as e-cigarettes or vape pens.
What is the market size of e-cigarettes?
The global e-cigarette and vape market size is expected to reach USD 104.51 billion by 2028, registering a CAGR of 28.1% from 2021 to 2028, according to a new study by Grand View Research, Inc.
Which country has the most revenue in 2020?
North America accounted for the highest market share in terms of revenue in 2020 owing to the extensive presence of prominent players such as Altria Group, Inc. and Philip Morris International Inc., which hold a significant share of the North American market.
Is vaping safe to smoke?
The rising awareness about consuming smokeless, safe, and ashless tobacco is anticipated to drive market growth. Furthermore, there is an increasing awareness about vaping being an effective method to quit traditional smoking, as it is less toxic and creates vapors instead of smoke.
Do e-cigarettes attract criticism?
However, e-cigarettes are often associated with conventional cigarettes and hence, tend to attract criticism, a factor expected to restrain the market growth. Market participants in the e-cigarette industry are prominent players in the market that own a significant market share.
Is vape shop open during lockdown?
However, vape shops remained open and were functional during the lockdown in countries such as Italy.
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.
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 ...
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.
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.
How much is the vaping market worth?
The global e-cigarettes (vaping) market was valued at about $14.05 billion in 2018 and is expected to grow to $29.39 billion at a CAGR of more than 20% through 2022.
Why is the demand for e-cigarettes increasing?
As more users become aware of the ill effects of tobacco smoking and are introduced to new and safer smoking devices , the demand for e-cigarettes is increasing.
Why are e-cigarettes so popular?
Growing awareness about the alternatives to tobacco smoking is driving the market for e-cigarettes. Smoking tobacco is addictive and is a major cause of diseases such as lung and liver cancer, heart disease. E-cigarettes act as a replacement to traditional cigarettes and use non-nicotine solutions to generate smoke. As more users become aware of the ill effects of tobacco smoking and are introduced to new and safer smoking devices, the demand for e-cigarettes is increasing. For example, according to a survey conducted by the US Department of Health and Human Services in 2016, there were twice as many teenagers using vape & e-cigarettes as compared to teenagers who were consuming regular cigarettes.
How much nicotine is in e-liquid?
According to the law, e-liquid manufacturers must limit nicotine content to below 20mg/ml. Also, manufacturers are required to submit all the key product information to concerned authorities in the EU Member States.
How many industry reports does Business Research Company have?
The Business Research Company has published over 300 industry reports, covering over 2400 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
What are the side effects of using an e-cigarette?
The side effects of using e-cigarettes include nausea, vomiting, abdominal pain, itchiness, dry eyes, cough and nosebleeds. Some of the side effects are caused due to the body's resistance to accept vapor and may take a few days to disappear. These side effects are discouraging the use of e-cigarettes, thus affecting growth of the market.
Why do e-cigarettes have side effects?
Some of the side effects are caused due to the body's resistance to accept vapor and may take a few days to disappear. These side effects are discouraging the use of e-cigarettes, thus affecting growth of the market.
