Full Answer
How big is the global e-cigarette (vaping) market?
Oct 19, 2016 · Despite the regulatory obstacles that the industry was faced with this year, it is still expected to grow at an exponential rate. Having been the new kid on the nicotine block as from 2008, when it was just a $20 million industry, the vape industry is now a $2bn industry and is projected to have recorded $10bn in sales by 2017.
What is the future of the vaping industry?
Dec 18, 2017 · Research and Markets expects the value of the vape industry to reach $61 billion by 2025, with a staggering 20.8% annual growth rate. In short, 2017 was another huge step forward in the expansion and solidity of the entire vaping world. A political “shift in trajectory” for vape kits and vape shops in 2017
Is teen vaping on the rise in America?
Nov 12, 2018 · The vaping industry has seen a huge boom in business in the last few years, especially since Juul hit the market back in summer 2017. 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.
How many e-cigarettes were sold in 2017?
Jun 15, 2021 · Since roughly doubling from 2017 to 2019, (from 7.5% to 16.5% for 8th graders, 15.8% to 30.7% for 10th graders, and 18.8% to 35.3% for 12th graders), the percentage of teenagers who said they vaped in the past 12 months remained constant in 2020 at 16.6% of 8th graders, 30.7% of 10th graders, and 34.5% of 12th graders.
Is the vaping industry growing?
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.
Was there a 25% increase in youth using Ecigs between 2017 2018?
E-cigarette use among U.S. middle and high school students increased 900% during 2011-2015, before declining for the first time during 2015-2017. However, current e-cigarette use increased 78% among high school students during the past year, from 11.7% in 2017 to 20.8% in 2018.
How much is the vaping industry worth 2020?
USD 6.09 billionThe 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.
How much money has the vaping industry made?
The e-cigarette maker's sales have skyrocketed in recent years, going from 2.2 million devices sold in 2016 to 16.2 million in 2017. This growth was in part due to increased sales of a small e-cigarette that resembles a USB flash drive. Juul forecasts its 2019 revenue to be $3.4 billion.
Why is vaping increasing?
A new survey found an alarming rise in the number of American teens who tried vaping last year. The study suggests that vaping may be driving an increase in nicotine use for teens. In vaping, a battery powered device called an e-cigarette heats a liquid into a vapor that can be inhaled.
What percentage of adults vape?
Data from the National Health Interview Survey 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 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.Oct 20, 2021
What company sells the most vapes?
Juul was the leading e-cigarette brand in the United States in 2020, capturing 42 percent of the e-cigarette market in that year. Vuse came in second place, with 36 percent market share.
How much is the vaping industry worth 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 much vaping or e-cigarette industry is made in 2018 or 2019?
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. Growing awareness about the alternatives to tobacco smoking is driving the market for e-cigarettes.Aug 21, 2019
Who owns vaping industry?
Altria acquired independent US e-cigarette company Green Smoke in 2014. Both brands were discontinued in December 2018 and Altria announced that it had bought a 35% stake in market leader JUUL Labs. For more on Altria's e-cigarette interests see E-cigarettes: Altria and JUUL Labs.Mar 4, 2022
What are the statistics on vaping?
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.
Vape kits and online vape shop sales on the rise in 2017
Even before 2017 got under-way, we were told that vaping was set to experience a boom in popularity and value through the year.
From VUSE to JUUL: the evolution of e-cigs in 2017
Away from all the suits and statistics, the products that we all know and love have also undergone a transformation in 2017. While recent years played host to the rise of entry-level devices like VUSE cigarettes and a flurry of similar-looking refillable vape pens, things went up a level this year.
2017: The year of a change in perception of e-cigs
Perhaps, though, the most significant event in the e-cig world in 2017 can’t be nailed down to one specific moment. This year more than any other, we have seen vape kits and all vaping products become an accepted part of modern society.
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.
How many people use e-cigarettes in 2019?
In 2019, 36.9% of current adult e-cigarette users were current cigarette smokers.
What is the most recent generation of e-cigarettes?
The most recent generation of e-cigarettes on the market, which include pre-filled pod systems like JUUL , refillable systems like Suorin Drop and Kandypens, and disposable systems like Puff Bar, use nicotine salts in the e-liquids.
What is an e-cigarette?
E-cigarettes or electronic nicotine delivery systems (ENDS) go by many names – the most common name is “e-cigarette,” but other terms include e-cigs, vapes, vape pens, mods and tanks. For the purposes of this resource we refer to the entire category as “e-cigarettes.”. E-cigarette use among young people has skyrocketed in recent years ...
How do e-cigarettes work?
E-cigarettes are devices that operate by heating a liquid solution to a high enough temperature so that it produces an aerosol that is inhaled. Solutions, sometimes called e-liquids, almost always include nicotine, flavoring and a humectant, such as propylene glycol, to retain moisture and create the aerosol when heated.
When did e-cigarettes come out?
E-cigarettes first entered the market in 2007 and have evolved many times since then, with older versions designed to resemble regular cigarettes, cigars, pipes, pens, and even USB flash drives. The latest generation of products feature a sleek, high-tech design and are disposable or use easily rechargeable batteries.
How many high school students use e-cigarettes?
In 2017, 11.7% of high school students had used an e-cigarette in the past 30 days. 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.
When did the FDA finalize its deeming regulation?
In May 2016, the FDA finalized its “deeming” regulation, asserting the agency’s authority to regulate e-cigarettes and any product meeting the definition of “tobacco product” under the Tobacco Control Act.133 The FDA can now establish product standards and regulate the manufacture, import, packaging, labeling, advertising, promotion, sale and distribution of e-cigarettes, including components and parts of e-cigarettes.133 Some of these regulations are outlined below.
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 Juul Labs?
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.
Why are online marketplaces important?
The benefits offered by online marketplaces, in terms of competitive pricing, convenience, and access to a wider variety of products, are encouraging people to purchase e-cigarette and vape online. Furthermore, websites offer a large variety of products as compared to retail stores. Moreover, sellers have their own websites from where users can ...
How many cigarettes were sold in 2017?
During 2017, about 249 billion cigarettes were sold in the United States—a 3.5% decrease from the 258 billion sold in 2016. 7. Four companies—Philip Morris USA, Reynolds American Inc., ITG Brands, and Liggett—accounted for about 92% of U.S. cigarette sales.
How much money does tobacco spend on advertising?
In 2019, the largest tobacco companies spent $8.2 billion marketing cigarettes and smokeless tobacco in the United States. This amount translates to about $22.5 million each day, or nearly $1 million every hour.1. Cigarette advertising and promotional expenses totaled about $7.62 billion in 2019—a decrease from 2018.
