North America will continue to dominate the global vape market and is likely to account for a market share of 47.45%
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| Vape Market Research Report by Beige Market Intelligence |
North America was the largest
region of the global vapor products market, accounting for a market share of
44.27%. The global vapor products market generated the largest part of its
revenue from North America. In 2015,
North America recorded vapor products revenue worth $3.71 billion. Also, North America will continue to dominate
the global vapor products market and is likely to account for a market share of
47.45% in 2021 due to the tremendous popularity of VTMs and
low cost of vaping devices in the vapor products market during the forecast
period. Also, one of the major influencing factors propelling the market growth
in the region is increasing availability of vapor products in vape shops and
over the Internet. The key countries
contributing the major market share are
Vape Market in US
The US accounts for the largest
share of the vapor products market in North America. It is the world’s largest market for vapor products with increasing
end-user base and massive revenue. VTMs has become one of the big businesses in
the US and because of the opening of vape
shops throughout the country, the growth of the vapor products market in the US
is expected to witness a massive growth in 2016 and afterwards.
The market has witnessed a high
demand for vapor products due to its wide adult smoking population. Approximately 28% of
the US population is classified as active smokers. However, a huge portion of
them indicated in various surveys conducted in the past that they would like to
switch to other nicotine alternatives.
Vape Market in Canada
In 2007, disposable
e-cigarettes were introduced in Canada. In 2009, Health Canada, the federal
department of the government of Canada, banned the sale of vapor products
containing nicotine. Vapor products sold without nicotine and that do not make any
health claims can be sold legally in the country. However, nicotine loaded vapor products and
those claiming health benefits fall under the jurisdiction of the Food and Drugs
Act under which authorization from Health Canada is required by vendors
to introduce a new product in the market. The market in Canada is booming
because of growing popularity of flavoured e-juices among the young population.
In 2015, the market witnessed an increased demand for vapor products. The
increased demand of different flavoured e-juices and popularity of VTMs in vape
shops are adding into the growth of the vape market in Canada region.
The report which consists of 124 pages of
information along with 14 Key Sections and 67 exhibits gives a detailed
analysis of the market size and forecast of different regions such as
North America, APAC, Europe and
Rest of the World. It also includes the market analysis of some key countries
such as the US,
Canada, UK, Poland, Germany, Italy, Spain, Russia, Malaysia, China, Chile,
Peru, Egypt, South Africa, Nigeria, and Algeria.
For more information, View the abstract and table of contents
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