Bis Research( Business Intelligence and Strategy Research), is a global market intelligence and advisory firm whose main area of interest are any emerging technological advances that may influence the dynamics of the global market. They have recently published a market intelligence report, “Global E cigarette and Vape market 2017-2025”, which offers some interesting predictions about the future of the vaping industry.
“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.” predicts the report.
The report emphasises the role that the current regulatory framework pertaining to the products has on the vaping market, also pointing out the division between those who want to regulate the products and others who want believe in their benefit for harm reduction. The company profile section has been broken down into the key start-ups, Chinese players, Indian players, and global players, with global companies being chosen on the basis of their market developments.
China expected to grow at the fastest CAGR
The Global E cigarette and Vape market report points out that while disposable e-cigarettes led the market until 2014, rechargeable e-cigarettes, followed by vaporizers and mods have seized the top market positions in terms of revenue generation. And while the U.S. market is expected to continue dominating the forecast period, China is predicted to grow at the fastest CAGR till 2025.
That’s still nothing compared to the global tobacco industry, which is worth almost half a TRILLION per year. The vaping industry is like an annoying little buzzing fly to them. Unfortunately, they’re pretty determined to swat it down.
Good news for vaping! Bad news for Big tobacco companies! Oddly enough tobacco companies are behind all the government agency prodding to put stricter restrictions on E-liquids and mods. Guess we must have forgotten how “safe” cigarettes are.