Full Answer
How big is 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.
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.
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.
What are the challenges to the global vaping market growth?
However, the regulations levied by local authorities across various countries such as the U.S. and India on the sale of vaping products and e-liquids have restrained the market growth. Furthermore, stringent trading laws have made it difficult for retail consumers to import vaping devices for personal consumption.
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 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 many high schoolers have tried vaping?
38% of high schoolers and 13% of middle schoolers have tried vaping – CDC. Vape vapor can cause inflammations in the mouth, eventually leading to gum disease. Smoking is the leading cause (other than aging) of death and disease in the United States.
How old do you have to be to buy a vape pen?
The legal age for buying vape pens is 18 in the USA. New data on vaping and the future of the industry. Smoking is the leading cause (other than aging) of death and disease in the United States. Almost half a million Americans per year die from its effects.
Is vaping bad for you?
Even though vaping carries considerably less health risk than conventional smoking, it’s likely that the popularity of the practice among the young will lead to calls for tighter regulation in the future. This is all the more likely in view of recent research on the health risks of vaping.
Does inhaling vapor cause gum disease?
The inhaled vapor can cause inflammations in the mouth, eventually leading to gum disease. It has been shown to interfere with the process of wound healing, by destroying the mitochondria that provide energy to cells as they divide to close up injuries.
Can vaping help with nicotine addiction?
But another study found vaping associated with no change at all in smoking habits, while a third showed that it can actually be a gateway to nicotine addiction for people who had never smoked. At best, the case for e-cigarettes as a cure for smoking is unproven by statistics.
High Street vs. Online
With an increasing focus on online sales for many industries, the same cannot be said for vaping. Due to the nature of vaping itself, high street stores are key in driving revenue. Conventional cigarettes limit users to tobacco or menthol. E-cigarettes on the other hand have different models, a wide range of e-liquid flavours and strengths.
Areas of Growth
Innovation is a huge part of the vaping industry’s success. With the amount of ongoing research, new product variations and advancements in technology, e-cigarettes have changed significantly since their inception back in 2003. Juul alone is worth an estimated $16bn and currently carries just one device with the corresponding pods.
Consumers
With increased awareness and concern over the ill effects of smoking, consumption of tobacco has decreased and safer alternatives have gained traction and popularity very rapidly. The success rate of quitting with more conventional methods like patches or gum is significantly lower than that of vaping.
The USA vs. the UK
With regulations in the US coming from local governing bodies and the FDA, there are some limitations on the industry that aren’t an issue in the UK. The likes of the Florida flavour ban, effective January 2019, concerns over teen “Juuling” and vaping being classified as smoking has meant e-cig users in America face more limitations.
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 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.
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.
What is electronic vape?
Electronic cigarettes and vape mods, which are an alternative to tobacco products, have been gaining popularity . These sophisticated mechanical devices are designed to deliver the same addictive nicotine, which is in tobacco cigarettes, without the harmful effects of tobacco smoke.
Why are vape mods and e-cigarettes so popular?
E-cigarettes and vape mods usage are rapidly increasing because these devices don’t include any tobacco. Most of the U.S. population is considering these devices as a gateway for quitting smoking. Some of the population is shifting to an e-cigarette and vape mod as an alternative to smoking.
What is the vape mod segment?
The vape mod segment dominated the market and accounted for more than a 51.0% share of the global revenue in 2020. Increasing demand for customized mods is expected to propel the segment growth over the forecast period. With these mods, customers can automatically control temperature levels. With this flexibility, users can control things, such as temperature, power, as well as vapor production.
What flavors are available in e-liquids?
The e-liquids are easily available in numerous flavors such as menthol, chocolate, fruit and nuts, and tobacco, which is expected to encourage the usage of e-liquids. Moreover, the availability of e-liquids with a low level of toxicants is further expected to propel the segment growth.
Which segment is anticipated to register the fastest over the forecast period?
The online segment is anticipated to register the fastest over the forecast period. Numerous vendors in the U.S. are opting for online channels as their preferred distribution channel over the retail stores due to stringent regulations about the sale and distribution of e-cigarettes.
Vaping Health Facts & Stats
Only 6% of adult Americans ignore the negative effects of e-cigarettes on one’s health. About 59% of the surveyed have heard a lot about vaping and smoking e-cigarettes possibly leading to respiratory problems. Finally, 14% claim they’re vaguely informed about the topic.
E-Cigarettes and Vape Industry Statistics
Vuse came in second with approximately 24% of total nicotine vaping product sales, followed by blu (6%). Njoy reached no more than 2%, while all other brands reached about 1%.
Vaping Statistics Among Young People in the US
Official CDC data from 2020 reveal that 19.6% of American high-schoolers use the e-cigarette. What’s even more concerning is that almost two-fifths of them (38.9%) reported using it frequently. Moreover, 22.5% of the frequent smokers used e-cigarettes on a daily basis, while the rest of them vaped more than 20 days in 30 days.
Conclusion
The COVID-19 pandemic gave us a new perspective on the health consequences that our everyday habits leave. Still, many parents can breathe a sigh of relief as the use of vaping products has been slowing down for the first time, hand-in-hand with traditional smoking.
How many people started vaping in 2014?
An even more revealing statistics from the Reuters poll is that 70% of new American users started vaping in 2014. There is no denying then that e-cigarettes are steadily growing in popularity, as more people are becoming vapers every year. North and South of the border, vaping statistics for the same years, between 2013-2015 show ...
How much did the EU use e-cigarettes in 2014?
Ever use of e-cigarettes by EU citizens increased from 7.2% in 2012 to 11.6% in 2014. Strangely enough, increased use of e-cigarettes is not translating to a change in the perception of e-cigarettes, at least a positive impression.
Where is vaping banned?
Heavy restrictions on vaping exist in countries like Thailand, and on the Australian continent. These bans have not stopped people from vaping, though. As with any behavior that becomes illegal, vapers have gone underground, which is not necessarily a good thing.
Which country has the biggest tobacco market?
China also represents the world’s biggest tobacco market. Despite the connection e-cigarettes have with the most populous continent in the world, Pacific Rim nations like Indonesia, Malaysia, and Vietnam have out-and-out banned vaping products. Singapore enacted a full-fledged ban on the sale, use, even possession of any ...
When did Mexico ban e-cigarettes?
Mexico summarily banned both the sale and consumption of e-cigarettes in 2013. Despite prohibition, though, e-cigarette use in Mexico, especially among young people, has skyrocketed by almost 50% [1] in one year, according to the InterAmerican Heart Foundation.
Who is the founder of Mist E cigarettes?
Nav Lalji, chairman of the Asian Vape Association and founder of the vape company, Mist-E cigarettes, conceded that e-cigarettes have a long way to go before they can compete with traditional cigarettes, mostly because of how much vapes are.
Does Europe use e-cigarettes?
Like the United States, Europe is also seeing a yearly increase in e-cigarette use. According to data gathered from all 27-member states of the European Union by researchers at Imperial College London and the University of Athens:
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 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.
What is the fastest growing segment of the e-cigarette market?
The online category of the distribution channel segment is expected to witness the fastest growth in the market for e-cigarettes during 2020–2030. The introduction of dedicated online portals for such products and the selling of vaping products on the existing online platforms have been a result of the growth of the e-commerce sector across the globe. Vaping product manufacturers are setting up new online business platforms, as they have few barriers associated with them and they are perceived to be the best platform to meet the user demand.
Is Europe a global market?
Europe Is Significant Contributor to Global Market. Europe is the leading user of e-cigarettes in the world, wherein France, Russia, and the U.K. are the major revenue generators in the regional e-cigarette market. The usage of e-cigarettes is accelerating among people who are former and current cigarette smokers and those who plan ...
How much money does tobacco spend on marketing?
The money cigarette and smokeless tobacco companies spent in 2019 on U.S. marketing amounted to—. About $22.5 million each day 1,2. About $25 for every person (adults and children) in the United States per year (according to 2019 population estimate of 328,239,523) 1,3.
How much is a promotional allowance for cigarettes?
Promotional allowances paid to cigarette wholesalers, such as payments for volume rebates, incentive payments, value-added services, and promotions—$336.6 million.
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.
