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Global Vaping Market is Enjoying Astronomical Market Gains

When it comes to emerging trends and technology, it seems as though vaping is making huge waves in the global market. With the global vaping market expected to hit a whopping $47 billion by the year 2025, companies and manufacturers are taking notice. The information was gathered by Bis Research (Business Intelligence and Strategy Research), which is constantly watching for emerging technology and how it's affecting the global market. Of course, with numbers like these you can bet Bis Research has taken notice.

So, what are the main trends, influences, and predictions for the future? The Global E Cigarette and Vape Market 2017-2025 report put out by Bis Research is filled with all kinds of insight into the market. Here’s a look at some of the biggest pieces of information found in the report.

Incredible Growth Over 10 Year Period

In order to grasp just how big the industry's growth is, it's important to look at what it was worth back in 2015. Statistics showed that the e cigarette and vape market was worth $8 billion at that point. This means during the 10 year period of 2015 to 2025 the market will grow by almost $39 billion if their predictions are correct. That's a rather astronomical growth that any industry would be thrilled to have.

What is Leading to the Growth?

While there are a number of aspects that are feeding into this growth, one of the biggest has to do with the current regulatory framework. Right now, there is a division in the market where some want to regulate the products and others want to ensure no regulations are added. Depending on the outcome of these discussions, it can play into the growth prediction further.

Where are the Biggest Markets?

It’s normal to assume that the U.S. market is where the largest amount of growth is happening, which is true, but there are a number of other players to keep an eye on. Also experiencing record amounts of growth and interest in vaping is India and China. In fact, according to that original report, China is expected to have the fastest amount of growth as we head towards 2025.

That's not to say that the U.S. isn't and won't continue to be a massive player in their own right. The report states that the U.S. will account for just over 27% of the global market value once we reach 2025.

As for the European markets, they are also seeing growth but not in the same pace. Back in 2015 the UK saw a surge in interest when it came to vaping devices, but it wasn't able to keep up with other markets such as the U.S.

What's also obvious is the fact the market itself is getting more and more competitive thanks to new technology, better, more effective products, and the introduction of flavored e-liquids which are absolutely exploding in popularity. These factors are true all across the board, no matter the country or market.

The market has also become increasingly competitive when it comes to patents, acquisitions, and mergers with some of the biggest players out there.

The Role of Vape Shops

Vape shops are also playing their own role in the expansion. These shops are popping up more frequently, offering wider selections, doing a better job at engaging with customers, and offering inventory online. All of this allows for a more streamlined shopping experience, which means customers are more likely to make purchases.

Shop owners are also becoming more knowledgeable giving customers more in-depth advice, first-hand opinions, and sometimes even an introduction to vaping. Starter kits are readily available, such as the Eleaf iStick Pico from Misthub, which sets newbies up with everything they need to get going.

These kits have become quite competitive in pricing, and feature some of the latest technology out there. It takes the guesswork out of what equipment is needed, as everything is there. The kits tend to be compact, fashionable, and easy-to-use. While these kits tend to be marketed to beginners, they are also great as a secondary kit that you can carry around with you.

On the Road to Record Growth

It’s clear that the e cigarette and vaping market is on the road to record growth as it heads towards 2025. The question that many are asking is whether or not that growth will continue past 2025 and even pick up in speed? Only time will tell, especially as various countries around the world continue to discuss regulatory measures.



Latest Activity: Jun 29, 2017 at 2:19 PM

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