Vape Industry: Trends & Statistics for Forex Traders

Vape Industry: Trends & Statistics for Forex Traders

As e-cigarette and‍ vape‍ usage ‌become increasingly popular, there is a rising need for ‌understanding the current trends and statistics of the vape industry. Knowing where the industry stands can be invaluable⁣ information for any person interested in participating, ​whether they are ‌an‍ investor, maker of related products, or⁢ just curious about​ the ‌world of vaping. This article explores the current state of the vape industry, both globally and in the United ⁢States, ‌analyzing the statistics and ⁤trends of⁣ the ⁣vaping ⁤industry.⁢ Recent studies have shown that the global vape industry⁢ is ‌expected to‍ reach⁢ $19 billion by 2025, growing at a compound annual⁤ growth⁤ rate of ​9.1%.

As of 2020, the United States makes up ⁢49.8% of⁤ the ⁢total market value and ‍is estimated to remain the largest ⁤contributor for the forecast period.

The vaping industry is ⁢characterized⁢ by⁤ the presence of a few large players and ⁢many small ‌private ⁣companies. The six largest companies accounted for approximately 20% of the total market share in 2020. The leading companies in the market ​include‌ the ​Altria Group ‌Inc., Imperial Brands Plc, Japan ⁣Tobacco Inc. and ITC Ltd.

Data ‌shows that‌ the vaporizer ‍device market is the largest and⁤ fastest-growing type of revenue in the vape market, accounting for nearly 70% of the total market in 2019. ⁤The sales⁣ of disposable vape‍ products witnessed steady growth, attributed to widespread availability ⁣and convenience.

As of 2020, the Asia Pacific vape industry‍ has ‍the largest market ​share.‍ This⁣ is attributed to the increasing popularity of vaping‍ products among 18​ to ‍35-year-olds and ‍rising disposable incomes.

The increasing popularity⁣ of pod-based‌ vaporizer products, growing preferences for nicotine salt-based e-juices, and increasing product offerings from‌ market ‌players are projected to foster ⁣market ​growth⁢ in ‍the near future.

The study also revealed that launches of new and innovative products, extensive research and development activities, collaborations, and acquisitions‍ by the leading companies are‌ expected to fuel the ‌growth of the​ vape market. ‍

The vape industry is witnessing⁤ a shift from e-cigarettes to vaporizers, further fueling market growth. ‍Increasing demand for vape​ pens and ​strong demand for superior and new technological ⁣products from consumers​ are expected to promote sales in the near future.