- 9 Vaping Statistics Everyone Should Know
9 Vaping Statistics Everyone Should Know
Compared with tobacco smoking products including cigarettes and cigars that have been around for decades, vaping is still relatively new on the market but has many devoted users around the world. Vaping is popular with the younger generations, and the variety of vaping flavors, affordability, and accessibility make it possible for people from all walks of life to enjoy. In the past decade, the vaping industry has seen tremendous growth, and future projected growth makes vaping one of the most lucrative industries on the market. The vaping industry has many misconceptions about it, but by studying the following statistics, it will be clear why the vaping industry is profitable today and will continue to be in the future.
1. In 2019, the international vaping market size was appraised at $12.41 billion. (Source: Grand View Research)
The international vaping market consists of users from countries across the world. Because some countries do not have traditional brick and mortar vaping stores, consumers are able to purchase their vaping supplies online. Even though vaping is more prevalent in western countries like the United States, countries all over the world are seeing tremendous growth in the vaping market which is why the market size was valued at $12.41 billion. The vaping market has a sizable impact on the global economy and the economies in multiple countries, and due to the vaping industry’s success, the world will continue to be shaped by the vaping industry. No matter the geographical location or economic availability, people enjoy vaping and will continue to use its products which will expand the international vaping market even further.
2. From 2020 to 2027, the international vaping market size is projected to grow at a revenue based CAGR of 23.8%. (Source: Grand View Research)
Looking at the compound annual growth rate (CAGR) for the international vaping market, 23.8% is a healthy rate for the industry’s future. Because of usage by younger generations (Millennials and Generation Z), the vaping industry will continue to see sizable growth for years to come. Unlike tobacco smoking, vaping is available in a multitude of flavors including fruity, minty, and savory (ex. chocolate), and the choice of flavors makes vaping popular among younger consumers. Consumers value getting to choose their vaping products including flavors and supplies which means the international vaping market is here to stay.
3. In the United States, 20% of people under the age of 30 participate in vaping. (Source: Pew Research Center)
Looking at the American vaping market, 20% of Americans between the ages of 18-29 vape, and 8% of Americans between the ages of 30-64 vape. Compare both of those statistics to the less than 1% (0.5%) of Americans over the age of 65 who vape, and it is safe to say that the American vaping industry is more prevalent with younger consumers. Young American consumers are substantially more likely to vape when compared to older American consumers. Older American consumers grew up smoking cigarettes and cigars which makes them loyal to those products, but younger American consumers are more likely to vape than to smoke which means the vaping industry will continue to see future growth and expansion.
4. In 2014, the international vaping market was valued at $6.9 billion, and in 2019, the international vaping market was valued at $19.3 billion. (Source: BBC)
Looking at the international vaping market, it is clear that it is a healthy industry with the promise of seeing a healthy future. Growing over $12.4 billion in 5 short years is no easy feat especially when the vaping industry had yet to penetrate the market in some countries. Allowing consumers the ability to customize their vaping experience with the accessibility of vaping items (ex. online shopping) are two of the many reasons that international consumers have taken to the vaping industry. With tobacco products containing thousands of harmful chemicals, consumers also feel safer using vaping products, and vaping products do not have the odor that tobacco products have which appeals to many consumers.
5. In 2011, the international vaping market had 7 million consumers, and in 2018, the international vaping market had over 41 million consumers. (Source: BBC)
In the timeframe of only 3/4 a decade, the international vaping market saw the number of consumers skyrocket by over 34 million. Initial consumers had such a positive experience with vaping that they shared it with their network, and the number of consumers will only continue to rise in the future. With the number of international vaping consumers steadily climbing, the international market size and revenue will continue to rise as well. Researchers estimate that international vaping consumers will number over 55 million by 2021 which means tremendous growth opportunities for the market.
6. In 2018, 60% of American females had tried vaping or e-cigarettes compared to 45% of American males. (Source: Statista)
Within the United States, over half (60%) of females have tried vaping or e-cigarette products compared to just under half (45%) of males. Females are attracted to the variety of vaping flavor options compared to the tobacco flavors of traditional smoking products and the fact that vaping is odorless. When vaping or using an e-cigarette, people do not have to worry about the smell lingering on their clothes or in the space which is essential for American female consumers. Compared to male consumers, female consumers are also more likely to try new experiences like using vaping or e-cigarette products. Research has shown that female consumers are the ones to introduce products to their network through word-of-mouth which explains why more females have tried vaping or e-cigarettes than males.
7. In 2018, North America was the largest region in the international vaping market. (Source: The Business Research Company)
Encompassing the United States, Canada, and Mexico, the North American region has been the most lucrative in the international vaping market. Responsible for having the most consumers and vaping companies, the North American region is also expected to remain the largest region in the international vaping market. Consumers in the North American region have higher discretionary income than other regions, and vaping is more prevalent and accepted in the North American society. Even though the North American region is the largest in the international vaping market, numerous other regions help shape the industry. However, the international vaping market region with the largest projected compound annual growth rate (CAGR) for 2018-2023 is the Asia Pacific region.
8. In 2019, Oklahoma had the highest vaping population in the United States. (Source: US News)
In the United States, Oklahoma had the highest vaping population out of the 50 states. Oklahoma had an overall vaping population at 7.1% and between the ages of 18-24 at 15.4%. With an overall vaping population of 6.1%, Kentucky had the second highest vaping population, and rounding out 3rd place was Indiana at 6%. Coming in with the 4th highest vaping population was Tennessee at 5.9%, and at 5.8%, Wyoming had the 5th highest vaping population. The state with the 6th highest vaping population was West Virginia at 5.67%, and close behind at 5.66% was Arkansas with the 7th highest vaping population. Out of the 50 American states, Nevada had the 8th highest vaping population at 5.4%. Rounding out the top 10 American states with the highest vaping populations are Colorado and Ohio, tied at 5.33%. Looking at the American states with the highest vaping populations, it becomes obvious that vaping is essential to many American consumers who have remained loyal to the vaping industry.
9. In 2020, 45% of French consumers consider vaping as an effective method in quitting smoking. (Source: Statista)
Many vaping consumers began vaping as a way to quit smoking tobacco products including cigarettes and cigars. Research has shown many people have success in this method, and consumers can modify their vaping experience to exclude nicotine, the addictive additive in tobacco. Because consumers can customize their vaping experience by choosing the flavors and additives that work best for them, replacing smoking tobacco products with vaping has proven to be an effective method for quitting smoking. Consumers in France have shown that almost half of people believe vaping is an effective way to quit smoking, and as more consumers continue to replace smoking with vaping, the method’s popularity will continue to grow.
Many people believe popular misconceptions about vaping, and it is important to know the facts and statistics associated with the vaping industry so people are educated on the truth. The vaping industry is here to stay, and with the positive economic impact it provides to both the global and American economies, it is vital that it continues to grow and expand. With millions of international consumers, the vaping industry will continue to flourish and thrive while consumers are able to continue enjoying their vaping products. The immense success of the vaping industry has shown that consumers value the power of choosing their own products, like vaping flavors, while also having alternatives to traditional tobacco products. People enjoy vaping, and the profitable success of the vaping industry has proven that it is here to stay and provide consumers with the products they desire.