how much money is the vaping industry worth

How big is the global e-cigarette (vaping) market?

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. Read More On The Business Research Company's E-Cigarette (Vaping) Market Report:

How much money does vaping make?

It also didn’t make much money. That has changed as vaping products have improved, and in 2015, Forbes reports that vaping brought in about $3.7 billion in the U.S. alone. That’s still nothing compared to the $92 billion that the U.S. cigarette market accounted for.

Is the vaping industry on the up and up?

While it points out that the vaping industry will grow to almost $30 billion in the coming years, it leaves out the fact that some industry analysts believe vaping could be a $50 billion industry by 2025. That is a lot of money and proof that vaping is on the up and up.

How e-cigarette flavors boosting the demand for vape products?

The growing concerns over conventional cigarettes among various age groups have boosted the demand for relatively less-toxic e-cigarettes and vape products. Market players are launching various e-liquid flavors in the market to cater to the evolving preferences of customers, thereby stimulating market growth.

How big of an industry is vaping?

The Global Electronic Cigarette Market revenue size stood at USD 17.46 Billion in the year 2021.

How much money is spent on vaping a year?

Researchers at the University of California-San Francisco School of Nursing found the consequences of vaping add up to approximately $15 billion annually nationwide. The study pegs individual costs at $2,024 each year – even greater than estimated health care costs attributed to cigar and smokeless tobacco use.

How much is the UK vaping industry worth?

In 2021, the e-cigarette market in the United Kingdom generated a revenue of an estimated 3.4 billion U.S. dollars.

How much money do the main vaping companies make?

In 2018 alone, the top 25 e-cigarette manufacturers brought in more than $2.5 billion in sales, according to Nielsen data, and 96% of these sales were from brands owned in whole or part by Big Tobacco.

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.

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 big is the UK vape market?

E-cigarette Market Scope in UKReport CoverageDetailsMarket growth 2021-2025$ 1.20 billionMarket structureFragmentedYoY growth (%)12.209 more rows

How many Vapes are sold a year UK?

The number of e-cigarette users grew from around 700,000 in 2012 to 3.6 million in 2019, falling to 3.2 million in 2020, before increasing again in 2021 to 3.6 million. (Table 1).

How much is the vape industry worth 2022?

USD 22.45 billionThe 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.

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

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 future of vaping?

It's safe to say that we can expect even more impressive advancements in vaping technology over the next five years. Mods will become more powerful, tanks will become more efficient, and flavors will become more realistic.

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.

How much is the cost of vape?

Vape pens typically range in cost from about $15 to $80 for the unit. Cartridges tend to cost about $25 to more than $50 each, depending on the material inside and the market in your state.

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 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 much money did vaping bring in 2015?

That has changed as vaping products have improved, and in 2015, Forbes reports that vaping brought in about $3.7 billion in the U.S. alone. That’s still nothing compared to the $92 billion that the U.S. cigarette market accounted for. But it’s also a lot more money than the vaping industry was generating in recent years. It’s a sign of strong growth.

How much will vaping grow in 2025?

The amazing thing about the Research and Markets report is that it only tells a part of the story. While it points out that the vaping industry will grow to almost $30 billion in the coming years, it leaves out the fact that some industry analysts believe vaping could be a $50 billion industry by 2025. That is a lot of money and proof that vaping is on the up and up.

How much is the e-cigarette market worth in 2022?

But according to Research and Markets report called “Global E-Cigarette Market Size, Share, Development, Growth and Demand Forecast to 2022,” the e-cigarette market is expected to climb to more than $27 billion by the time 2022 rolls around. This is based on a number of factors, including the growing health awareness surrounding vaping, the rapid advancement in e-cigarette technology, and the increasing number of vape shops around the country and world.

Is vaping growing in value?

As the vaping industry increases in value, vapers will notice a big difference in it. Already, they are starting to see some of the advantages of having the industry grow. A few years ago, there weren’t as many vaping products available as there are today. But as the industry has added new players, the products have become more plentiful and have improved dramatically.

Is vaping going to grow in the future?

That growth is expected to continue well into the future, too . While the FDA may have some vaping manufacturers—and vapers for that matter—concerned at the moment, the Research and Markets market research store just published a report that zeroes in on the expected growth in the vaping space. And it’s encouraging to say the least.

Is vaping a non-existent industry?

As recently as just a few years ago, the vaping industry was pretty much non-existent. The technology that was used to manufacture e-cigarettes, e-juices, and other vaping products was still in development, and when people purchased products to vape, they never really knew what they were getting. As a result, the vaping community was small and pretty exclusive. It also didn’t make much money.

Is vaping a strong industry?

Surgeon General’s weak attempt at criticizing the vaping community, the vaping industry is, as a whole, very strong right now. It’s growing by leaps and bounds every single year and looks like it’s poised to make a serious dent in the tobacco industry in the years to come.

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.

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.

Which category holds the largest share of vaping in 2019?

Within the gender segment, the male category held the larger share in 2019 due to the soaring popularity of such vaping products among young male customers. With a large number of male customers switching to e-cigarettes as a smoking cessation substitute, this category is expected to continue its e-cigarette market dominance in the future.

How many people use vaping in 2019?

is a major driver for the regional market. For instance, in 2019, North America had nearly 14 million e-cigarette users. Further, the dipping popularity of tobacco smoking will capture more customers for the players in the market for e-cigarettes in the region.

What is a ploom vapor?

launched two new tobacco vapor products: Ploom TECH +, a low-temperature tobacco vapor product, and Ploom S, a high-temperature tobacco vapor product, under its Ploom brand. Both the new products are claimed to produce much less odor and lead to a significant reduction in the concentration of measured constituents, as compared to conventional cigarette smoke.

How do manufacturers of vaping devices promote their products?

Manufacturers of vaping devices are promoting and selling their products through kiosks and dedicated in-store hubs at larger retail outlets and grocery shops. E-cigarette providers are also setting up their stores and outlets to offer a vaping experience similar to that offered at a club. Traditional smokers are more inclined toward these stores, as they can get a variety of flavors and better vaping devices at these places. Such designated stores and outlets are expanding the consumer base for the individual providers of vaping products, thereby fueling the growth of the market.

What are the flavors of vaping?

Different flavors, such as bubble gum, cola, methanol, chocolate, mint, and fusions of fruits and other flavoring items, are attracting a considerable number of people to adopt e-cigarettes.

Why is the e-cigarette market so popular?

The soaring awareness regarding environmental and human health is one of the key factors fueling the e-cigarette market advance. The growing consciousness has inspired governments to work toward creating a greener and more-sustainable environment and take several steps to put a complete ban on smoking at specific places. This is compelling smokers to move outside the restricted spaces, which has resulted in a high demand for vaping products that do not emit tobacco smoke and can offer the same sensation as conventional cigarettes.

What age group is Juul?

The 16–24 category of the age group segment generated the highest revenue in 2019. Vaping products, such as the JUUL device, have become an instant hit among the youth aged 16–24 years. Specifically, the soaring popularity of e-cigarettes with modular designs among this age group has become a key growth driver. Additionally, social media campaigns, such as #JUULing, have played a notable role in attracting young students.

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.

What is an open system e-cigarette?

There are two main types of e-cigarette - open and closed system, also known as open and closed tank. In an open system, the liquid that is vapourised can be refilled manually by the user. There is also a removable mouthpiece.

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.