E-cigarette market set to reach $47 billion by 2025
Research into the vaping industry has found that the market is set to reach a huge worth of $47 billion by 2025.
Global market intelligence and advisory firm, BIS Research, have published a Global E-Cigarette Analysis and Forecast for 2016-2025 which highlights the huge growth in the industry.
Previous research found that the industry was estimated to the worth $8 billion in 2015 and is expected to continue to grow at a CAGR of 19.34%.
The report notes regulations and legislation that is having an impact on the industry, predicting how these influences will continue to effect vaping throughout this timeframe.
As the industry is constantly evolving there are set to be some major changes and developments within the legislation surrounding vaping, this report from BIS Research goes into detail on how the industry will deal with these changes.
“In spite of the proposals of stringent regulations and policies governing the e-cigarette market, the revenue from the key geographical regions will continue to rise at a double digit CAGR [compound annual growth rate] through the forecast period,” says the press release.
Changes since 2014
BIS Research considered all aspects of the industry and the key changes that have occurred over recent years. For example, in 2014 disposable e-cigarettes were the favoured appliance for vapers however, we are now seeing a large percentage of the market selecting re-chargeable mods.
The fastest growing area and market leader
The report also researches into key businesses within the vaping industry, categorising them based on location and their position within the industry.
An interesting finding from the report presents China as the fastest growing region until 2025, however the U.S market is still the largest player and will dominate the market throughout this forecasting period.
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