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 many vape companies are there?
As of 2014, there were more than 460 e-cigarette brands worldwide. In 2014 it was reported that in every month there was a net growth of 10.5 e-cigarette brands. New e-cigarette brands are continuously being brought into the marketplace. As of 2017, the exact number of e-liquid brands that are in business is unclear.
How much is the vaping industry worth in the US?
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....Report AttributeDetailsReport coverageRevenue and volume forecast, company ranking, competitive landscape, growth factors, and trends13 more rows
How many vapes sold 2020?
From February 2020 to March 2021, total e-cigarette sales increased by nearly 50% (from 14.8 million units to 22 million units). Sales of flavored e-cigarettes increased by 64%.
Who 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?
Global E-Cigarettes Market Report 2021: Market was Valued at $21.2 Billion - Analysis & Forecast 2016-2026.
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.
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 is the future of vaping?
More Demand for Vape Products In 2019, the global vape and e-cig market size were estimated to be USD 12.41 billion, but it's projected to grow at a compounded annual growth rate of 23.8 percent in the future. From 2020 to 2027, the industry will attain traction over the forecast period.
How many people started vaping 2020?
By 2018, that number had risen to 21% and, by 2019, 27.5% of high school students had used e-cigarettes in the past month. That number dropped to 19.6% in 2020. The current use rate among middle schoolers rose from 0.6% in 2011 to 10.5% in 2019. The rate dropped to 4.7% in 2020.
How popular is vaping?
How many people in the world vape? There were 41 million e-cigarette users worldwide (World Health Organization) as of 2018, and that number is expected to reach 55 million by 2021 (Euromonitor).
What are the statistics on vaping?
Approximately 3.02 million high-school students in the US vape. The use of e-cigarettes spiked by a whopping 78% in 2018. Men in the States are more than twice as likely to vape as women. The COVID-19 outbreak has positively influenced youth's vaping statistics.