What is the history of the vape industry?
Here is a brief overview of the history of the vape industry growth and some predictions on where the vape industry may be headed. The technology behind vaping traces itself to the first electronic cigarette developed by Herbert Gilbert, which he patented in 1963.
How big is the global vape market?
The global market is now estimated to be worth $19.3bn (£15.5bn) - up from $6.9bn (£5.5bn) just five years ago. The United States, United Kingdom and France are the biggest markets. Vapers in the three countries spent more than $10bn (£8bn) on smokeless tobacco and vaping products in 2018.
What is the future of the vaping industry?
Vaping has become a fast-growing and vibrant industry over the last few years, and there are no signs of it slowing down. Currently, the market is predicted to reach a total value of $50 billion by the year 2025.
Why do so many people vape?
The reason many consumers enjoy vaping is it offers a similar experience of inhaling and exhaling to get a nicotine fix. They’re also more aware of the ingredients and chemicals in both vaping and smoking.
How much has the vaping industry grown?
The global electronic cigarette market size was valued at $17,301.0 million in 2020, and is projected to reach $94,316.6 million by 2031, registering a CAGR of 16.8% from 2022 to 2031.
How much is the vaping industry worth 2022?
Revenue in the E-Cigarettes segment amounts to US$22.95bn in 2022. The market is expected to grow annually by 4.18% (CAGR 2022-2027). In global comparison, most revenue is generated in the United States (US$7,640.00m in 2022).
Is vaping on the rise?
About 37% of 12th graders reported vaping in 2018, compared with 28% in 2017. Vaping of each substance that was asked about increased. This includes nicotine, flavored liquids, marijuana, and hash oil. “Vaping is reversing hard-fought declines in the number of adolescents who use nicotine,” says Dr.
Is vaping a billion dollar industry?
E-cigarettes are a 2.5 billion dollar business in the United States.
What is the future of vaping?
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 big is the ECIG market?
Market Overview The e-cigarette market valued USD 23.6 billion in 2021, and is projected to record a CAGR of 13.39% during the forecast period (2022-2027).
Is vaping decreasing?
This year, 11.3 percent of high school students reported that they currently vape — down from 19.6 percent in 2020 and strikingly lower than the 27.5 percent reported in 2019, according to a report of the survey issued Thursday by the Centers for Disease Control and Prevention.
When did vape become popular?
Many vape companies consider 2010 the year that vaping's popularity exploded. In that year, vape manufacturers realized that people wanted more than they were getting from electronic cigarettes. They wanted to enjoy more clouds, more flavor and more of a true hookah-like experience.
What are the statistics of vaping?
Teens and young adults. Gallup says that 20% of people age 18 to 29 vape, compared to 9% of people age 30 to 49, 7% of people age 50 to 64, and less than 0.5% of people older than 65. And, according to the Truth Initiative, 15- to 17-year-olds are 16 times more likely to vape than 25- to 34-year-olds.
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 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 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 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....
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.
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.
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.
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.
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.
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 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.
What is rechargeable cigarette?
A rechargeable cigarette is a battery-powered vaping device, which can be reused and refilled. These devices also have interchangeable cartridges, due to which users can try a wider variety of flavors. The modular devices segment is anticipated to register the highest growth over the forecast period.
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.
How much is the vaping market worth?
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.
Why is the demand for e-cigarettes increasing?
As more users become aware of the ill effects of tobacco smoking and are introduced to new and safer smoking devices , the demand for e-cigarettes is increasing.
How much nicotine is in e-liquid?
According to the law, e-liquid manufacturers must limit nicotine content to below 20mg/ml. Also, manufacturers are required to submit all the key product information to concerned authorities in the EU Member States.
What is an atomizer in an e-cigarette?
An atomizer in an e-cigarette or vaping device is used to vaporize the e-liquid.
How many industry reports does Business Research Company have?
The Business Research Company has published over 300 industry reports, covering over 2400 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Why do e-cigarettes have side effects?
Some of the side effects are caused due to the body's resistance to accept vapor and may take a few days to disappear. These side effects are discouraging the use of e-cigarettes, thus affecting growth of the market.
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 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.
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.
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
Is vaping popular?
1. Vaping is increasingly popular. 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. But it's a different matter when it comes to vaping.
Is there a ban on flavoured e-cigarettes?
A ban on the sale of flavoured e-cigarettes has been announced by US President Donald Trump, after a number of vaping-related deaths. So, how much is being spent on e-cigarettes, and how safe are they?
Can e-cigarettes cause nicotine poisoning?
Nicotine in the liquid that is vapourised in an e-cigarette is addictive. Users replacing the liquid in refillable e-cigarettes might spill the product on their skin, possibly leading to nicotine poisoning. Some sweeter flavours of e-cigarettes are irritants, potentially causing inflammation of the airways.
Is vaping a convention?
There are conventions for everything these days, from comic books to whiskey, so naturally the massive popularity of vaping has led vape users to form their very own conventions. Vapefest is one of the most widespread of these events, happening in cities around the world. In 2014, The Washington Post sent a reporter to cover Vapefest and learned that one of the things bringing vapers together isn’t just that they enjoy the habit, but that it has helped them kick other, more dangerous habits.
Do vapers smoke menthol?
It’s a common misconception that the majority of vapers are trying to recreate the experience of smoking a cigarette and choose tobacco and menthol-flavored juices. In reality, only one third of vape shop owners surveyed by MSA said that tobacco and menthol flavors were important parts of their business.
