It is predicted that the Vaping industry is will grow to 47 billion by 2025. A market research report reached this conclusion by compiling data from different aspects of the e-cigarette industry such as market dynamics, key consortium’s, and sales.
The report created by research and markets, a company that “provides a variety of market research reports in a variety of industries including pharmaceuticals, construction and engineering, retailing and e-commerce.” They came to this conclusion by tracking sales, and looking at market trends, but in order to truly understand the report you would need to buy it for $4,200.
“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.
“While North America, with U.S. leading the way will dominate the market throughout the forecast period,” it continues, “APAC will be growing at the fastest CAGR, accounting for more than 27% of the global e-cigarette market value by 2025.”
Should you trust this report?
It is hard to tell how accurate this conclusion can be based on the data. The report states that some of the key market players in the vaping industry are Altria, Lorillard, ShenzenSmoore Technology Limited, Kangertech, First Union, Kimree, British American Tobacco, CB Distributors, Fontem Ventures, and Cigavette.
These are the types of companies that sell disposable electronic cigarettes at gas stations. The report needs to be updated with projections from 2017. This does not completely discredit the report. In our opinion the vaping market will grow at a much faster rate then this report indicates. The vaping market is currently growing rapidly so invest while you still can.