The vape market is expected to grow rapidly, reaching a value of $47billion by 2025.
A market intelligence report published by Business Intelligence and Strategy Research has offered a very interesting insight into the future of the vaping industry. The primary aim of Bis Research, a global market intelligence and advisory firm, is to investigate emerging technological advances that may impact the dynamics of the global market and their recent report on the ‘Global E-Cigarette and Vape Market 2017-2025’ predicts that “The global e-cigarette market was estimated to be worth $8 billion in 2015, and is expected to grow at a CAGR of 19.34% throughout the forecast period to become a $46.9 billion industry by 2025.”
The report explores the role the vaping regulatory structure has on the market, pointing out the clear division between those who are keen to regulate the products and those who don’t believe in their capacity for harm reduction. Whilst disposable E-Cigarettes were market leaders until 2014, the report indicates that rechargeable devices, vaporizers and mods have settled into the top revenue spots, with the US market expected to continue its market dominance despite China being hot on its heels – predicted to be the fastest growing CAGR until 2025.