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.
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.
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.
What is driving the growth of the e-cigarettes and vaping industry?
Also, the vaping industry has formed various associations to counter the policies against vaping products and regularize the industry for supervision, eventually driving the growth of the market for e-cigarettes and vaping. The rechargeable segment accounted for the highest market share of over 40% in 2021.
How big is the U.S. e-cigarette & 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. Read More
What is the U.S. e-cigarette & vape market growth?
The U.S. e-cigarette & vape market is expected to grow at a compound annual growth rate of 27.3% from 2021 to 2028 to reach USD 40.2 billion by 202...
Which segment accounted for the largest U.S. e-cigarette & vape market share?
The rechargeable segment dominated the U.S. e-cigarette & vape market with a share of 45.4% in 2020. This is attributable to the low costs of recha...
Who are the key players in the U.S. e-cigarette & vape market?
Some key players operating in the U.S. e-cigarette & vape market include British American Tobacco; International Vapor Group; NicQuid; Altria Group...
What are the factors driving the U.S. e-cigarette & vape market?
Key factors that are driving the market growth include technological advances in e-cigarettes and growing awareness for safer tobacco alternatives....
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...
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 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.
Is there a ban on mint flavor e-cigarettes?
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.
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.
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.
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.
Is vaping banned in 2020?
In September 2019, the Trump administration said it would ban the sale of most flavored e-cigarettes, amid the continued rise of teenage vaping and alleged vape-related illness concerns. In January 2020, the U.S. has announced a countrywide ban on some e-cigarette flavors –– specifically mint and fruit flavors offered in cartridge-based ...
What is personalized vape?
Personalized vaporizers are the most recent innovation in the market manufactured by major players in the e-cigarette market. These advanced models provide the best user experience in vaping and cater to the needs of the most active and regular vapers.
Which country owns the largest e-cigarette distribution network?
The United States owns the largest e-cigarette distribution network for sale. However, the new taxation rules on e-cigarettes among the states of the country are going to be potential threats for market growth during the forecast period.
What is an electronic cigarette?
Electronic cigarettes, which are an alternative to tobacco cigarettes, have been gaining popularity. E-cigarettes are sophisticated mechanical devices, designed to deliver the same highly addictive nicotine that is in tobacco cigarettes, without the other harmful effects of tobacco smoke.
Why are e-cigarettes so popular?
Most of the American population is considering e-cigarettes as a gateway to quitting smoking while some of the smoking population is shifting to an e-cigarette as an alternative to smoking. Moreover, as these products are being offered in nicotine and non-nicotine forms, many of the population is considering them to be a better alternative.
How many people die from tobacco each year?
According to the World Health Organization tobacco kills more than 8 million people each year. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke, which is a major reason for the adoption of e-cigarettes.
Is e-cigarettes popular in North America?
With the high-level of the popularity of e-cigarettes among youth population and the rapid expansion of vape shops throughout every state in the country, the penetration of e-cigarettes in North America is incredibly high.
Is the e-cigarette market competitive?
The United States E-cigarettes market is highly competitive o wing to the presence of many large players. The market appears to be consolidated owing to the fact that some of the players hold most of the share in the market. Key strategies adopted by the large players are product innovation and mergers and acquisitions.
When did e-cigarettes increase?
The increase in total e-cigarette sales that occurred during November 2016–August 2019 was driven by sales of prefilled cartridges, which made up nearly 90% of the market by August 2019.
Why is it important to monitor e-cigarette sales?
Continued monitoring of e-cigarette sales and use is critical to inform strategies to minimize risks. As part of a comprehensive approach, such strategies could include those that address youth-appealing product innovations and flavors.
What percentage of prefilled cartridges are mint?
Among prefilled cartridge sales during September 2014–August 2019, the percentage that were mint increased from <0.1% to 47.6% (AIPC = 14.1) (p<0.05) ( Figure 2 ). During August 2019–May 2020, although the mint sales declined from 47.6% to 0.3% of all prefilled cartridge sales (AIPC = −42.3), the proportion of menthol sales increased from 10.7% to 61.8% (AIPC = 22.3), and the percentage of tobacco-flavored sales increased from 22.8% to 37.1% (AIPC = 6.1). During September 2014–October 2018, sales of all other flavors increased from 12.9% to 54.4% of prefilled cartridge sales (AIPC = 3.3) (p<0.05); however, sales of these products declined thereafter to 0.8% of all prefilled cartridge sales by May 2020 (AIPC = −18.1) (p<0.05).
What percentage of disposables will be sold in 2020?
During August 2019–May 2020, the proportion of total sales that was disposable products increased from 10.3% to 19.8%, while the proportion that was prefilled cartridge products decreased (89.4% to 80.2%).
When did electronic cigarettes come out?
Since electronic cigarettes (e-cigarettes) entered the U.S. marketplace in 2007, the landscape has evolved to include disposable e-cigarettes and rechargeable e-cigarettes with prefilled cartridges and flavored e-liquids (e.g., fruit, candy, and mint).
Is e-cigarette use unsafe?
Youth use of tobacco products in any form, including e-cigarettes, is unsafe ( 1,2 ). In the U.S., e-cigarette use is markedly higher among youths than adults; in 2018, current use of e-cigarettes was 20.8% (past 30-day use) among high school students, 7.6% (everyday/someday use) among adults aged 18–24 years, and 3.2% (everyday/someday use) among adults aged ≥18 years ( 6,8 ). In addition to regulation of the manufacturing, marketing, and sale of e-cigarettes by FDA,*** strategies to reduce e-cigarette use among youths include increasing price, implementing comprehensive smoke-free policies that include e-cigarettes, restricting youths’ access to e-cigarettes in retail settings, licensing retailers, developing educational initiatives targeting youths, curbing youth-appealing advertising and marketing, and implementing strategies to reduce youth access to flavored tobacco products ( 1, 2, 9 ).
Is there a law that prohibits the sale of prefilled cartridges in any flavor other than tobacco or?
Moreover, on January 2, 2020, the Food and Drug Administration (FDA) finalized an enforcement policy that prohibits the sale of prefilled cartridge e-cigarettes in any flavor other than tobacco or menthol. ††. The findings in this report are subject to at least three limitations.