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The vape industry is one of the fastest-growing industries in the world with no signs of slowing down. According to statistics compiled by Grand View Research, the global vaping market was valued at $17.17 billion in 2019 and is expected to reach a staggering $53.98 billion by 2027. Consumers are increasingly turning to vaporizers to quit smoking and experience the innovative flavors and products available in the market. In addition, the increasing number of vape shops around the globe is fueling the industry’s growth. Not only do these shops offer high quality products, but they are also providing an environment for customers to network with other vape enthusiasts. As the industry continues to evolve, trends and statistics are helping to inform manufacturers and retailers of the opportunities that await them.
