Vaping Facts and Stats from the 2022-2023 Global Vape Market Analysis Report
On the 20th of January 2023, Business Wire released their review of the year in vaping. Here are the key facts to emerge from this report.
Trends suggest that the Global E-cigarette and Vape Device market will increase to 184.84 billion before the end of 2030. There has been an upwards trend towards less hazardous vape devices as more and more of us are turning to vaping as an alternative to smoking.
There is a growing preference among vapers for sub ohm devices. This is reflected in the increased production of high capacity vape devices. In the UK, the government limits the strength and power of devices for public safety, but in the US and other countries powerful devices are growing in popularity. The attraction of a healthier alternative to smoking and a device which blows large clouds of steam are a double-whammy here.
The reduction in smokers is synonymous with the increase in vape users. The Covid-19 pandemic briefly increased smoking indoors. Nevertheless, vape device shops were able to stay open in many countries throughout the virus. We know from ASH that 64.6% of all vape users in the UK are ex-smokers, with around 30% dual users of cigarettes and vape devices.
Vape Competitions Push Product Success
Modular vape devices are experiencing a high compound growth rate, especially due to the rise in vape competitions. This phenomenon itself was a completely unexpected development in the vaping world. Vape users compete against one another to create bigger, better clouds of vapour, and to perform vaping tricks.
If you are interested in vaping competitions, this is what it looks like. You can see our article entitled “How to Compete in a Vape Competition” for more information on how these work. Competitors perform tricks, compete to produce larger clouds of vapour, and go through competitive stages as you would in a tournament.
Other Key Facts About Global Vape Use
Other key points highlighted in the Global Vape Market Analysis Report include:
- The increased costs of conventional cigarettes is contributing to vape use.
- Chinese vape companies are outsourcing vape device production to keep costs low.
- Online vape shops represent the highest market share, potentially due to the reliance on them during the pandemic.
- The two key market drivers remain the advances in vaping tech coupled with the safer alternative to smoking.
You can view the full report for yourself, here.
New Vape Devices are Powering the Market
Here at Vape Direct we have the best in state of the art vaping tech. Browse through our newest products to see the best new vape devices on the market. We sell Mod devices which you can alter yourself, e-cigarettes, pods and vapes. We supply online customers with vape juices, replacement pods and coils, and even replacement glass.
We like to think we have contributed to the growth of the vaping market in the UK. Particularly when it comes to helping smokers quit for good.