What is the market size of the vape industry?
Currently, the market is predicted to reach a total value of $50 billion by the year 2025. At VaporFi, we are focused on staying on the cutting edge of the industry and providing our customers with the highest quality products available.
How many people try vaping?
In 2018, 60% of women and just 45% of men reported ever trying a vape or e-cig. Among people aged 18-29, a super-majority of 85% have tried vaping. The popularity of vaping is expected to continue to rise substantially as new products enter the market and advertising and awareness of the ease of use become more widely known.
Why has the vaping industry evolved so quickly?
This openness to product evolution is one of the reasons the industry has grown so quickly and vaporizers have evolved into more complex devices in such a short time. As the industry has grown, the ability of users to fully control their vaping experience has also increased. This has helped create a vibrant and engaged user community.
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.
How large is the vape industry?
Verified Market Research estimates the worldwide vaping market will grow from $10 billion in 2020 to nearly $74 billion by 2028. Mordor Intelligence says the global e-cigarette industry generated nearly $19 billion of revenue last year with about 17% annual growth expected through 2026.
How big is the vaping industry in the US?
The United States e-cigarette and vape market attained a value of around USD 12.8 billion in 2020. The industry is further expected to grow in the forecast period of 2022-2027 at a CAGR of nearly 25% to reach approximately USD 48.9 billion by 2026....Competitive Landscape.REPORT FEATURESDETAILSForecast Period2022-202714 more rows
How big is the UK vaping industry?
U.K. E-Cigarette Market Overview The U.K. e-cigarette market was valued at $2.0 billion in 2018, and is projected to exhibit a CAGR of 19.6%, during the forecast period.
Is the vape industry growing?
Report Overview. 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.
How profitable is the vaping industry?
This has caused industry revenue to rise, growing an annualized 7.3% to $6.3 billion over the five years to 2021, including an increase of 1.6% in 2021 alone.
What is the biggest vape company?
JuulMarket. The most well-known e-cigarette brand is Juul, which held three-quarters of the U.S. e-cigarette market at the end of 2018. In December of that year, the cigarette company Altria — the parent company of Philip Morris USA — bought a 35 percent stake in Juul.
How much is the vaping industry worth 2021?
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.
Is vape a good business?
You Can Still Run A Profitable Vape Shop In 2022 After all, there are now plenty of competitors operating in the market and some may be well established. But entrepreneurs are often surprised to find that it is still perfectly possible to make a very healthy profit if you create a sound business!
How many vapes are sold a year 2021?
The vast majority (69.8%) of this increase was from sales of disposable products. From February 2020 to March 2021, sales of disposable e-cigarettes increased by nearly 200% (from 2.8 million to 7.8 million units).
How many Vapers are in the world?
Global estimation of vaping—2018 The number of vapers in the 49 countries from which the survey data are derived is 40.3 million. Using our estimation procedures we estimate that 17.8 million vapers live in the remaining 152 countries. This gives a total of 58.1 million vapers worldwide in 2018.
What are the statistics on vaping?
In 2020 MTF found that 18% of 8th, 10th, and 12th graders reported vaping nicotine in the past 30 days, flat from 18.1% in 2019. The percent of 8th, 10th, and 12th graders using JUUL dropped from 15.8% in 2019 to 10.4% in 2020.
Are vape shops 2021 profitable?
How much profit can a vape shop make? The average vape shop reports approximately $26,000 in monthly sales. If your monthly expenses are $10,000, your business would realize an annual profit of $120,000.
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...
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.
Is vaping popular among men?
The two most glaring similarities being that vaping is most popular with young people and among men. Researchers from Waterloo University, conducting an annual survey of tobacco use in Canada, also tracked the use of e-cigarettes, which almost mirrors e-cigarette use stateside. Their study showed the following in 2015:
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.
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 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 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 ...
How many people have tried vaping?
Among people aged 18-29, a super-majority of 85% have tried vaping. The popularity of vaping is expected to continue to rise substantially as new products enter the market and advertising and awareness of the ease of use become more widely known.
What is a Juul vape?
A very popular new vaping product on the market in 2017 is the JUUL, which is designed to look like a small electronic computer device — a USB storage drive — but is actually a compact e-cigarette that many students are able to use in school or other places where smoking would never be permitted.
Why do people use e-cigarettes?
Many people use e-cigarettes in an effort to quit smoking traditional forms of tobacco use , while many young people are introduced to the powerful drug nicotine in the form of vaping without having been tobacco smokers previously. New Product Trends.
What is vaping a cigarette?
Vaping Statistics. Vaping is one name for using an electronic device to heat up a liquid, which creates a vapor cloud that the user inhales. The “e-liquid” is usually made up of a mix of nicotine in a liquid form, chemical flavorings, and other substances. Many people use e-cigarettes in an effort to quit smoking traditional forms of tobacco use, ...
What is a vape battery?
An electronically controlled heating element. A rechargeable battery. A mouthpiece for inhaling the aerosol generated when the liquid is heated. When the vape user activates the device, often with a button or sometimes just by inhaling on the mouthpiece, the heating element turns the liquid into an aerosol that the user then inhales.
What does vaping look like?
Some resemble traditional cigarettes, others are made to look like a pipe or cigar, and some appear similar to common items like pens or small electronic devices such as a USB charger.
How many people have never been a regular smoker?
In contrast, among those age 18-24 who use e-cigs, 40% had never been regular cigarette smokers. Public health experts view such facts with concern, as easy availability and use of e-cigs may be a big factor in helping to attract young people to a powerful nicotine delivery method.
What is the vape industry?
The vape industry is one driven not just by market needs, but by innovation as well. Unlike many industries, vaping is entirely open to new ideas and is focused on implementing new concepts.
Why are vape pens so popular?
The reason for this is that pens are refillable and can make use of the multitude of e-liquids on the market. This allows for a totally customizable user experience.
How much is vaping worth in 2025?
Currently, the market is predicted to reach a total value of $50 billion by the year 2025.
When was vaping invented?
The technology behind vaping traces itself to the first electronic cigarette developed by Herbert Gilbert, which he patented in 1963. Despite being developed in the 1960s, electronic cigarettes did not become a publicly-sold product until 2003.
Who invented the e-cigarette?
That year, Hong Kong pharmacist Hon Lik was looking for a safer alternative to smoking and patented the first modern e-cig. The product soon became very popular in China and then worldwide. Vaporizer technology is constantly changing and evolving to create a better user experience.
VAPE MENTORS BLOG
Read this if you want to skip MBA school and go right into the vape industry.
Low Cost vs. Premium Pricing
These next Tweets apply mostly to manufacturers and juice brands. To sum up: pick either low cost, high volume or low volume, high cost. DO NOT try to please everybody by being in the “middle”.
The Ansoff Matrix
Use this matrix to assess the current status of your business, then decide how you want to grow.
Marketing
There’s no better visual guide than this one out there, and no better way to understand marketing than the 7 P’s.
Finance
Use these concepts to determine whether you should open a new vape shop, invest in a PMTA, or make renovations to your shop.
Reading Profit & Loss statements
A big part of finance is being able to understand companies based on their documents filed. Here’s a profit & loss (P&L) statement… pic.twitter.com/WAZmpFVVlX
Financial Modeling
Next: Financial Modeling, we use it to accurately forecast future earnings performance of a company https://t.co/lnY57zyQhq pic.twitter.com/QisMZkAJQV
