The vaping market has huge potential, expected to reach $47 billion by 2025
Recently, Research and Markets released its report, Global E-Cigarettes and Vaporizer Market, Devices and Aftermarket Analysis and Forecast, 2016-2025.
The report projects that from 2015 to 2025, the global e-cigarette market is expected to grow at a double-digit compound annual growth rate, exceeding $47 billion by 2025.
Despite growing awareness of the health risks and the impact of higher taxes, tobacco consumption remains an increasingly serious global issue. Given the importance of finding alternatives to tobacco, the first generation of e-cigarettes was designed in China as early as 2003. The e-cigarette market has gone through three generations of evolution and is now at a tipping point. A large number of companies have entered the market, largely due to relatively loose government policies and low capital requirements.
Although there have been calls for stricter regulatory policies for the e-cigarette market, revenue from key regions is still expected to continue rising at a double-digit compound annual growth rate during the forecast period. Throughout the period, North America—especially the United States—will dominate the market, while the Asia-Pacific region will post the fastest CAGR and account for more than 27% of the global e-cigarette market value by 2025. Significant revenue growth is expected in China and India.
