Global Vaping Market to Reach $84.43 Billion by 2025
According to a new report from Research and Markets, the global vaping market is expected to reach $84.43 billion by 2025, with a compound annual growth rate of 17.65% during 2021-2025. Changing consumer perceptions of combustible cigarettes, rapid growth
According to a new report by Research and Markets, the global e-cigarette market is expected to reach $84.43 billion by 2025, registering a compound annual growth rate (CAGR) of 17.65% during 2021-2025.
Growth in the e-cigarette market has been driven by changing consumer perceptions of combustible cigarettes, a surge in the working population, declining cigarette consumption, rising cigarette prices, and peer influence among young people.
The market is expected to experience trends such as rising income among Gen Z consumers, the emergence of flavored e-cigarettes, growing social media influence, and technological advances by e-cigarette manufacturers. However, market growth will be challenged by strict regulations, nicotine exposure from e-cigarettes, and increasing concerns about the side effects of e-cigarettes and vapor products.
The fastest-growing regional market is the United States, driven by rising awareness of safer tobacco alternatives, continued efforts by anti-smoking organizations to shift tobacco users toward alternative formats such as e-cigarettes, and stronger consumer acceptance due to the cost-effectiveness of these devices.
In addition, the sudden outbreak of Covid-19 adversely affected the overall economy by halting production and logistics activities, impacting global demand for and supply of e-cigarettes.
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