Vapes Market: By Product Type By Ingredient Type By Application By Distribution Channel and Region Forecast 2019-2030
Vapes Market: By Product Type By Ingredient Type By Application By Distribution Channel and Region Forecast 2019-2030
Vapes Market size was valued at US$ x million in 2023 and is poised to grow at a CAGR of 16.2% from 2024-2030. The global market, also known as the E-cigarette or electronic cigarette market refers to the industry that manufactures and distributes electronic devices designed to deliver nicotine or other substances to users in the form of vapor. Key components of the vapes include a battery, a heating element (atomizer or coil), a cartridge or tank to hold the E-liquid or vape juice, and a mouthpiece through which the user inhales the vapor. The e-liquids used in vapes come in a variety of flavours and nicotine levels to accommodate diverse user preferences. The rising desire for smokeless and tobacco-free alternatives to regular cigarettes is one of the key drivers of the global vapes industry. When compared to smoking combustible tobacco products, vaping is generally seen as a less dangerous choice, leading to its rising use as a smoking cessation aid or harm reduction technique.
Furthermore, technological improvements and the increased availability of innovative and user-friendly vape devices have had a beneficial influence on the vapes business. The industry is seeing the launch of new and innovative devices, including as pod systems and vape pens that provide customers with improved performance and convenience. In addition, expansion of cannabis and cannabidiol (CBD) vape products as well as increased online sales presents potential opportunities for the growth and development of the global market.
However, concerns regarding the long-term health effects of vaping and the potential risks associated with the use of e-cigarettes, especially among youth, remain key restraints for the global market. Various market players are adapting different strategies to develop innovative vape products that further contribute the growth and development of the global market. For instance, in July 2022, Philip Morris launched an affordable and fancy disposable vape, VEEBA.
Study Period
2024-2030Base Year
2023CAGR
16.2%Largest Market
North AmericaFastest Growing Market
North America
The conveniene and portability factor of the vapes is majorly driving the global vapes market. Vapes are highly portable and easy to use, compared to the traditional tobacco smoking, making them a convenient option for on-the-go users. Additionally, the compact size and sleek designs of many vape devices contribute to their popularity among users seeking a discreet and practical smoking alternative.
Moreover, the availability of a wide range of e-liquid flavors such as tobacco, menthol, vanilla, custard, strawberry and others, is another significant driver of the market. Unlike traditional cigarettes, which offer limited flavor options, vapes provide users with a variety of flavors, catering to different tastes and preferences.
North America vapes market is anticipated to dominate over the forecast years owing to the strong vaping culture and presence of large number of vaping shops, and E-commerce, particularly in United States and Canada. Moreover, rising product diversification of E-cigarettes also influence the global vapes market.
Europe witnessed significant growth in the vapes market, with countries like the United Kingdom, France, and Germany being major contributors. The European market was influenced by a growing awareness of the potential benefits of vaping for smoking cessation and harm reduction.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
16.2% |
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By Product Type |
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By Ingredient Type |
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By Application |
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By Distribution Channel |
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The global vapes market size was valued at US$ x million in 2023 and is projected to grow at a CAGR of 16.2% from 2024 to 2030.
JUUL Labs, Inc, Coast, NicQuid, Nextleaf Solutions Ltd., Philip Morris International Inc, R.J. Reynolds Vapor Company, IVG, NOYA Cannabis Inc., Nicquid, Philip Morris, Shenzhen IVPS Technology Co. Ltd, Shenzhen KangerTech Technology Co., Ltd, Japan Tobacco, International Vapor Group, Imperial Brands are a few companies operating in global vapes market.
The vapes market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Vapes Market Introduction |
| 2.1. Global Vapes Market – Taxonomy |
| 2.2. Global Vapes Market – Definitions |
| 2.2.1. Product Type |
| 2.2.2. Ingredient Type |
| 2.2.3. Application |
| 2.2.4. Distribution Channel |
| 2.2.5. Region |
| 3. Global Vapes Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Current Trends |
| 3.5. Global Vapes Market Dynamic Factors - Impact Analysis |
| 3.6. Mergers, Acquisitions, and Collaborations |
| 4. Global Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Vapes Market, By Product Type, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Cartridges |
| 5.1.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Refill / E-Juice |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. All-in-one Disposable |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. All-in-one Rechargeable |
| 5.4.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Vapes Market, By Ingredient Type, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Nicotine |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Cannabis |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. CBD Oils |
| 6.3.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Vapes Market, By Application, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. Medical |
| 7.1.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Recreational |
| 7.2.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Vapes Market, By Distribution Channel, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Online |
| 8.1.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Offline |
| 8.2.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 9. Global Vapes Market Forecast, By Region, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific |
| 9.3.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. MEA |
| 9.5.1. Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Region, 2024 - 2030 |
| 10. North America Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Product Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Cartridges |
| 10.1.2. Refill / E-Juice |
| 10.1.3. All-in-one Disposable |
| 10.1.4. All-in-one Rechargeable |
| 10.2. Ingredient Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Nicotine |
| 10.2.2. Cannabis |
| 10.2.3. CBD Oils |
| 10.3. Application Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Medical |
| 10.3.2. Recreational |
| 10.4. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1. Online Channels |
| 10.4.2. Retail Channels |
| 10.5. North America Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Country, 2016-2027 |
| 10.6. North America Vapes Market Dynamics – Trends |
| 11. Europe Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Product Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Cartridges |
| 11.1.2. Refill / E-Juice |
| 11.1.3. All-in-one Disposable |
| 11.1.4. All-in-one Rechargeable |
| 11.2. Ingredient Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Nicotine |
| 11.2.2. Cannabis |
| 11.2.3. CBD Oils |
| 11.3. Application Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Medical |
| 11.3.2. Recreational |
| 11.4. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1. Online Channels |
| 11.4.2. Retail Channels |
| 11.5. Country Level Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1. UK |
| 11.5.2. Germany |
| 11.5.3. France |
| 11.5.4. Italy |
| 11.5.5. Spain |
| 11.5.6. Rest of Europe |
| 11.6. Europe Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Country, 2016-2027 |
| 11.7. Europe Vapes Market Dynamics – Trends |
| 12. Asia Pacific Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Product Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Cartridges |
| 12.1.2. Refill / E-Juice |
| 12.1.3. All-in-one Disposable |
| 12.1.4. All-in-one Rechargeable |
| 12.2. Ingredient Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Nicotine |
| 12.2.2. Cannabis |
| 12.2.3. CBD Oils |
| 12.3. Application Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Medical |
| 12.3.2. Recreational |
| 12.4. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1. Online Channels |
| 12.4.2. Retail Channels |
| 12.5. Country Level Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1. China |
| 12.5.2. India |
| 12.5.3. ANZ |
| 12.5.4. Japan |
| 12.5.5. Rest of APAC |
| 12.6. Asia Pacific Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Country, 2016-2027 |
| 12.7. Asia Pacific Vapes Market Dynamics – Trends |
| 13. Latin America Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Product Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Cartridges |
| 13.1.2. Refill / E-Juice |
| 13.1.3. All-in-one Disposable |
| 13.1.4. All-in-one Rechargeable |
| 13.2. Ingredient Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Nicotine |
| 13.2.2. Cannabis |
| 13.2.3. CBD Oils |
| 13.3. Application Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Medical |
| 13.3.2. Recreational |
| 13.4. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1. Online Channels |
| 13.4.2. Retail Channels |
| 13.5. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Argentina |
| 13.5.4. Rest of LA |
| 13.6. Latin America Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Country, 2016-2027 |
| 13.7. Latin America Vapes Market Dynamics – Trends |
| 14. MEA Vapes Market Analysis, 2019-2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 14.1. Product Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Cartridges |
| 14.1.2. Refill / E-Juice |
| 14.1.3. All-in-one Disposable |
| 14.1.4. All-in-one Rechargeable |
| 14.2. Ingredient Type Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1. Nicotine |
| 14.2.2. Cannabis |
| 14.2.3. CBD Oils |
| 14.3. Application Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1. Medical |
| 14.3.2. Recreational |
| 14.4. Country Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1. Online Channels |
| 14.4.2. Retail Channels |
| 14.5. Country Level Analysis 2019-2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1. GCC Countries |
| 14.5.2. South Africa |
| 14.5.3. Rest of MEA |
| 14.6. MEA Vapes Market - Opportunity Analysis Index, By Product Type, Ingredient Type, Application, Distribution Channel, and Country, 2016-2027 |
| 14.7. MEA Vapes Market Dynamics – Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. Pure Oasis LLC |
| 15.2.2. MÜV |
| 15.2.3. PAX Labs, Inc. |
| 15.2.4. British American Tobacco |
| 15.2.5. Imperial Brands |
| 15.2.6. International Vapor Group |
| 15.2.7. Japan Tobacco Inc. |
| 15.2.8. NicQuid |
| 15.2.9. Savage CBD |
| 15.2.10. Philter Labs, Inc. |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
Key Market Players
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