Vape Industry Trends: An Overview of Forex Trading
As the global forex marketplace becomes increasingly intertwined with industry trends, it is no surprise that the vape industry has become an increasingly relevant factor in understanding how money flows throughout the world. In this article, we will explore the current trends in the vape industry and how they are impacting the forex market. and supportive
Understanding Customer Preferences in the Vape Industry
As research findings suggest, the vape industry, also referred to as the electronic cigarette (e-cigarette) & vape shops market, is a rapidly growing market. The growing trend of shifting from traditional cigarettes to e-cigarettes and vapes is driving the rapid growth of this industry. It is imperative for companies within this industry to keep up with customer demands and preferences in order to remain competitive. That is why understanding customer needs and preferences, articulated in their feedback, is essential for companies to tailor their products.
E-cigarette and Vape Market Size
The global e-cigarette and vape market size was valued at USD 22.45 billion in 2022, and is expected to grow at a CAGR of 30.6 percent from 2023 to 2030. According to an industry market research report, the market size is estimated to grow by USD 66.83 billion from 2023 to 2027 registering a CAGR of 30.41%. The research shows that the offline and online segments are playing a significant role in driving the growth of the market.
E-cigarette Sales and Preferences by Nicotine Strength Level
This study assessed trends in sales and prices of e-cigarettes by nicotine strength level, including by product type and flavor, in the year 2020. Results revealed that among prefilled cartridge e-cigarettes sales in January 2020, tobacco, menthol, and mint flavors accounted for 34.2%, 40.0%, and 10.5% of sales, respectively. Furthermore, disposable product sales demonstrated a significant increase in the same year, nearly doubling from 10.3% to 19.8%, while prefilled cartridge product sales declined from 79.9% to 71.8%.
In addition to product type and flavors, research also found several changes in the disposable e-cigarettes, which have changed dramatically between 2017 and 2022. Volume capacities of these products have quintupled, and the average nicotine concentrations of these products have nearly tripled.
Finally, a 2011 review of website content of online e-cigarette retailers found that companies were advertising e-cigarettes with various health claims, and that cigarettes were targeted to children. An additional content analysis of vape shop Yelp reviews in Southern California