The vaping industry has seen tremendous growth over the past few years. As more people switch to vaping as an alternative to smoking, the industry has seen a huge surge in popularity. With this surge in popularity, more and more people are interested in learning more about the industry and its statistics.
In this blog post, we’ll be taking a look at some of the most interesting and important statistics related to the vaping industry. We’ll be looking at the size of the industry, the types of products available, the demographics of vapers, and more. So if you’re interested in learning more about the vaping industry and its statistics, then keep reading.
Vape Industry: The Most Important Statistics
62% of Boomers prefer smoking tobacco cigarettes over vaping or both, as of 2018.
59% of US adults in 2019 were aware of illnesses related to e-cigarettes and vaping.
Vape Industry Statistics Overview
The E-Cigarette segment is expected to reach US$24.61bn in 2023 and grow annually by 3.44% CAGR 2023-2027.
Thus, the vaping industry is growing and there is potential for businesses to benefit from this growth.
The global e-cigarette and vape market size was valued at USD 22.45 billion in 2022 and is projected to grow at a CAGR of 30.6% from 2023 to 2030.
Therefore, the industry is likely to remain profitable and that there is potential for further expansion. It also indicates that the industry is likely to remain competitive, as more companies enter the market and existing companies expand their operations.
24% of 18-29 year olds in the US reported using e-cigarettes in October 2019, compared to only 3% of 50-64 year olds.
This shows that e-cigarettes are more popular among younger generations, and that the industry should focus their marketing efforts on this demographic in order to maximize sales.
62% of Boomers prefer smoking tobacco cigarettes over vaping or both, as of 2018.
Therefore, the Boomer generation has a higher preference for traditional tobacco cigarettes over vaping, which could potentially affect the success of the vaping industry.
The Northeast and Western regions of the US accounted for 38% of e-cigarette sales in 2020, while the Southwestern region accounted for only 7%.
In 2019, e-cigarette and vaping sales in China totaled 22.1 million units, while Taiwan only reached 1 million units; this highlights the potential of the Chinese market for the vaping industry.
China is a much larger market than Taiwan, and the difference in sales between the two countries demonstrates the potential for growth in the Chinese market.
59% of women in the U.S. preferred smoking tobacco cigarettes in 2018.
It shows that there is still a large portion of the population that is not using vaping products, and that there is potential for growth in the industry.
11% of females and 12% of males habitually vaped tobacco products in 2018.
This information is important for the vaping industry to understand the demographics of their customer base and to tailor their marketing and product offerings accordingly.
59% of US adults in 2019 were aware of illnesses related to e-cigarettes and vaping.
The public is aware of the potential health risks associated with e-cigarettes and vaping, which could impact the future of the vaping industry.
35% of adults aged 65+ oppose a ban on the sale of e-cigarettes.
A significant portion of the population is therefore against a ban on e-cigarettes.
Conclusion
The vaping industry is an ever-growing and ever-evolving industry. With the number of vapers increasing every year, the industry is projected to continue to grow in the coming years.
The statistics show that the industry is growing rapidly and is expected to reach $47.11 billion by 2025. While there are still some concerns about the safety of vaping, the industry is still growing and is projected to continue to do so in the future.
References
1 – https://www.statista.com/outlook/cmo/tobacco-products/e-cigarettes/worldwide#:~:text=Revenue%20in%20the%20E%2DCigarettes,%244.24%20are%20generated%20in%202023.
2 – https://www.grandviewresearch.com/industry-analysis/e-cigarette-vaping-market
3 – https://www.statista.com/statistics/1075212/adult-e-cigarette-use-us-by-age-group/
4 – https://www.statista.com/statistics/882645/smoking-preferences-us-adults-by-generation/
5 – https://www.statista.com/statistics/1096896/e-cigarette-market-share-us-by-region/
6 – https://www.statista.com/statistics/1188676/apac-volume-of-e-cigarette-and-vaping-sales-by-country-or-region/
7 – https://www.statista.com/statistics/882624/smoking-preferences-us-adults-by-gender/
8 – https://www.statista.com/statistics/882648/habitual-vaping-among-us-adults-by-gender/
9 – https://www.statista.com/statistics/1074899/awareness-of-illnesses-related-to-e-cigarettes-and-vaping-us/
10 – https://www.statista.com/statistics/1075203/opinions-on-banning-all-e-cigarette-sales-us-by-age-group/
