The number of people using vaping products has been exponentially increasing everywhere in the world. This has created a thriving industry that is currently worth billions. Here are five charts that detail the vaping world as it is at the moment, and that tell the story of this growing industry.
- Vaping is becoming more popular
According to recent statistics from the World Health Organization, there has been a minimal yet steady decrease in the approximated number of smokers around the world since 2000. The number has dropped by 40 million from the 1.14 billion recorded previously.
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However, it is a different story when it comes to vaping. The number of people vaping has been multiplying. Between 2011 and 2016, there has been noticeable increase from almost 7 million to 35 million vapers.
Market research agency, Euromonitor,estimates that the number of adults who use vaporizers will hit about 55 million by 2021.
- Spending on e-cigarettes is increasing
The electronic cigarette market is growing as the number of new vapers increases. The international market value is estimated to be $22.6bn, and recorded a growth of $18.4bn from $4.2bn five years back.
The UK, Japan, and the United States are the most significant markets. A combined $16.3bn was spent by vapers in these three regions. This was on vaping products and smokeless tobacco all in 2016. Other countries such as Italy, Norway, Germany, and Sweden are also found in the top 10 regions for vaping.
- Open-system e-cigarettes are the most widespread
There are two principal types of electronic cigarettes-closed and open system. They are also known as closed and open tank.
In an open tank, the e-liquid that goes through vaporization can be refilled by the user manually. The mouthpiece of this device is usually removable. On the other hand, closed tank e-cigs use ready-made pods, which fix directly to the e-cig’s battery. The gap in the amount spent on these products is continuously increasing.
- Most e-cigarettes are purchased online
Many e-cigarette buyers purchase their vaping products from specialist online stores, according to findings by Ernst & Young. 35% of electronic cigarette users monitored across France, the UK, Germany, Italy, Poland, South Korea, and Russia purchased their devices over the internet. Currently, e-cigarettes and vaping products are available online from sites such as epuffer.com, a site which offers quality products.
It is assumed that users may make their initial e-cig purchase personally. Most do so to get acquainted with new products or to look for advice on the type of device suitable for them. In the European market, the United Kingdom has the largest market, with approximately 2000 vaping shops.
- Rise in Vaping
All across the countries studied by Ernst & Young, the main reason for the use of electronic cigarette has to do with them being safer than regular cigarettes. Almost 49% of vapers said they used e-cigs to cut down on their smoking habit.
Nonetheless, WHO has issued health concerns linked to vaping; they note that the long-term effects are unknown. They add that nicotine use in e-juice is addictive and some artificial sweeteners may cause inflammation of the airways.
