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.
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 common is vaping in America?
People in the lower-income brackets are more likely than their wealthier counterparts in the higher-income brackets to vape or use smoke e-cigarettes. 13. Nearly twice as many Americans without a college degree (7%) vape regularly as those who have a college degree (3%).
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 the market for vaping in 2020?
What is the market share of e-cigarettes in 2020?
What is the purpose of Juul Labs marketing campaign?
What are the flavors of e-cigarettes?
What is a Vype iSwitch Maxx?
What is the market share of rechargeable devices in 2020?
Where are e-cigarettes imported from?
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How big is the vaping 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 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 big is the disposable vape industry?
Report Overview. The global disposable e-cigarettes market size was valued at USD 5.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030.
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.
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 vape industry?
The US Market Will Survive – And Grow [Along With Vape Taxes] The US vaping industry will continue to grow, with the number of vape shops increasing. The FDA will continue to approve new vaping products for sale in the country and it is likely there will be more than 50 such approvals by 2022.
Where is vaping most popular?
Since their introduction vaping has increased 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.
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 much do people spend on Vapes 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. Dr.
What is the market of vaping?
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 do I market my vape?
Apart from Instagram, YouTube can be a great source of marketing for your brand new vape store. There are so many famous vape stars on YouTube with a massive following who give reviews to vape products. You can simply gift them your vape kit and ask for a product review on their channel.
Is vaping marketed to kids?
Subject to the Food and Drug Administration Family and Tobacco Control Act in the United States [27] and the Tobacco and Vaping Products Act in Canada [28], e-cigarette companies are not permitted to market or sell their products to youth.
Why are disposable vapes so popular now?
People tend to buy products that are readily accessible to them without having to spend a lot. This is one of the major reasons why people opt for disposable vapes. They are lightweight, do not require repetitive e-juice fillings, and are easy to carry around. Vaping is not only about smoking but also an art.
Why are disposable vapes popular?
The three main reasons why disposable vapes taste better are quite possibly these; pre-soaked cotton wicks, simple design to remove variability and quality of E-Liquid often containing nicotine salts.
How many disposable vapes are sold in UK?
A survey conducted by Opinium for the non-profit recycling organisation Material Focus found 18% of 4000 people surveyed had bought a vape in the previous year. 7% of those had bought a disposable. These figures applied to the whole of the UK could mean around 168 million disposables are bought annually in the UK.
How many disposable vapes have been sold in the UK?
Market research by Opinium for Material Focus, a non-profit recycling organisation, found 18% of 4,000 people surveyed had bought a vape in the previous year. Of those, 7% said they had bought a disposable device. This suggests around 168 million disposable vapes are being bought annually in the UK.
E-Cigarette Market Report, Share, Size and Forecast 2022-2027 - IMARC Group
The global E-Cigarette Market reached a value of US$ 20.4 Billion in 2021. The market is to reach US$ 30 Billion by 2027, exhibiting at a CAGR of 4.5% during 2022-2027.
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 are the barriers to growth in the vaping market?
There are certain barriers and constraints faced that will hinder the overall market growth. The factors such as many of the flavoring and moisturizers contain in e-liquid have been licensed from F&D management but they haven’t been permitted for inhalation which may cause serious health problem to consumers and side effects of e-cigarette use such as vomiting, coughing, lung damage, and slow brain development are the potential restraints hampering the overall growth of the global E-Cigarette and Vaping Market. Nevertheless, the advancements in technologies such as pod devices have increased the sale of vaping devices. Furthermore, vendors are coming up with various device configuration, and untapped potential in emerging markets offer favorable growth opportunities.
How is the e-cigarette market growing?
The market is growing as the devices have become more efficient in terms of battery life and the availability of various flavors, attracting a large number of customers. The cost-effectiveness of these devices has further stimulated product adoption in the market. The rising price of traditional cigarettes is anticipated to further encourage the demand for e-cigarettes and vape devices in the forthcoming years. The market is driven by the growing awareness among the young population owing to various medical studies that term e-cigarettes as a safer alternative to traditional cigarettes. Moreover, the customization options offered by vendors and continuous improvement toward new product development have positively anticipated in propelling the growth of the global E-Cigarette and Vaping Market.
What does an e-cigarette look like?
Some e-cigarettes look like standard cigarettes, cigars and many of them look like USB flash devices, pens, and other items. Large tobacco companies have flourished by introducing these devices through various brands that cater to different requirements, thereby enhancing the product quality and level of customization.
Who are the major players in the e-cigarette market?
The “Global E-Cigarette and Vaping Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players are Altria group Inc., British American Tobacco, Imperial Brands, Japan Tobacco International, NicQuid, JUUL Labs Inc. , Philip Morris International In c., Shenzhen Kanger Technology Co. , Ltd . , VMR Products LLC, and NJOY Inc.
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.
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.
Where is the biggest vape market?
The US and Europe have the biggest vape markets. These regions spent over $10 billion on vaping products in 2018, and the trend is set to grow. In 2019, North America was the leading consumer of e-cigarette. The participation of key industry players is among the factors fueling this growth.
How many people tried vaping in 2019?
Male consumers dominated the e-cigarette market in 2019. About 53% of tobacco smokers had tried vaping as of 2019. In general, more males had tried e-cigarettes than females. e-cigarettes will be significantly popular among young males as the switch to e-cigarettes continues in the coming decade.
How old is vaping?
Vaping has grown in popularity among the young more than other age groups. Young people aged 16-24 years were the primary income generator in the market in 2019. Many reasons explain the rising popularity of vaping among young people. Most youths believe e-cigarettes are safe and less harmful than tobacco.
How much is the e-cigarette market?
The e-cigarette market has grown considerably in the last decade. As of 2019, the global market size was $15.7 billion and is projected to hit $39.0 billion by 2030, an increase of 9.2%.
What is the online market?
The online market is the leading contributor to global e-cigarette sales. In light of these, e-cigarette manufacturers will exploit online platforms to sell their products. It’s expected that most consumers will continue purchasing online due to the convenience.
Is e-cigarette available?
e-cigarettes will be readily available as their popularity increases. Furthermore, the thriving smokeless cigarette market is likely to attract many players. The competition will stiffen, and manufacturers will have to focus on new ways of availing their products to the consumers. E-cig and vape products will be available in most places, from online stores to retail outlets.
Where is the use of e-cigarettes most prevalent?
The use of e-cigarettes is particularly high in France and the United Kingdom – driven by the high demand of users aged between thirty and forty-four years old. France is found to hold the largest e-cigarette market.
What is Vaping?
Vaping products consist of small devices that are replenished with liquid. The same liquid is heated in the device and creates an aerosol, or vapor, hence the name. These products have various names, from steam to electronic cigarettes. They come in different shapes and tastes, which is why the number of users of these products increases every day.
Vaping Statistics: A Little Bit of History
Cigarettes have always been peoples’ favorite pastime. While some were mere users of tobacco smoke, others became addicted to nicotine and its impact on their bodies. However, history shows that people have been looking for an alternative to tobacco products for decades.
Vaping Demographic Stats
Vaping is a relatively new term, but it has quickly taken hold of people of all ages. Some found an alternative to smoking in electronic cigarettes, while others were just looking for a leisurely pastime.
Vaping Market Size Stats
The popularity of vaping products is growing. Consequently, e-liquids are slowly replacing classic tobacco products. Manufacturers of vaping products are increasingly advertising their products. In addition, you’ll find various studies claiming that e-liquids are basically healthier than tobacco.
Other Interesting Vaping Statistics
According to a study conducted in 2020, slightly more than half of the vapers (53%) prefer to use one device. Also, the same paper included testing on people using multiple devices. As many as 43% of correspondents stated they use several devices to switch between flavors.
Conclusion
Vaping has become particularly trendy over the past couple of years. People typically associate it with a way to quit smoking cigarettes. Depending on the source, you’ll get different feedback regarding e-liquids and their harmfulness/positive effects on the human body.
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 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.
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 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.
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.
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.