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Global E-Cigarettes and Vape Market Share, Value and Trends

E-cigarettes have become a phenomenon worldwide, as an increasing number of people turn to vaping.

Indeed, the market for e-cigarettes has shown exponential growth fueled by ever-growing demand for vaping products. It’s not just health-conscious individuals but the appeal to vaping extends to the spirited youth for whom e-cigarettes represent freedom and pure pleasure free from the taboo of smoking.

In this article, we will examine the vape market size of e-cigarettes, its value, and dominant trends shaping this exhilarating invention.


Key Statistics of the Global E-Cigarette Industry

1. The e-cigarette market is projected to generate $26.0 billion in revenue by the end of 2024.
2. The worldwide e-cigarette market is predicted to ascend to $47.5 billion by 2028 with a hefty compound annual growth rate (CAGR) of 13.5% between 2023 and 2028.
3. The United States had the highest trajectory in 2024 among other countries, with an estimated revenue of US$8,827m.
4. In the global e-cigarette market, North America has assumed a leading position, valued at $9.3 billion, leading to 14.5% projected annual growth. The United States has the dominant share of North America’s e-cigarette market, which is expected to reach $20.4 billion in 2028.
5. Around 35 million people worldwide are estimated to use e-cigarettes and vaping products.
6. 27.6% of vape products are consumed by high school students every day.

Global E-Cigarette Revenue and Market Growth

E-cigarette Market on Track for $26 Billion by Year’s End:

A significant growth trajectory can be observed in the expansion of the e-cigarette market. Predictions indicate that the E-cigarette market will earn $26.0 billion by the end of 2024. This noteworthy surge suggests the global adoption of vape products.

e-cigarette market projected to hit $26 billion

E-cigarettes Gain Momentum

The global e-cigarette market is further forecasted to keep growing and reach a substantial $47.5 billion by 2028. This development is induced by a strong compound annual growth rate of 13.5% between 2023 and 2028, suggesting a growing inclination for e-cigarettes as an alternative to traditional tobacco products.

US Leads E-cigarette Market in 2024

The United States has shown remarkable adoption in the current year, with an estimated $8,827 million compared to other states. This highlights the influential position of the US in the global e-cigarette market.

E-cigarette Users Fuel Global Market Growth

Lastly, on a global scale, 35 million people using e-cigarettes also indicate a worldwide preference for e-cigarette products.

Source: Statista, Consumer Notice

Which Country Uses The Most E-Cigarettes?

The countries with the Highest Reported Usage of E-cigarettes in 2023

Country Percentage of E-Cigarette

Europe and America have the highest demand for E-cigarettes as shown in the table. However, the Middle East and the Asia Pacific region are anticipated to experience rapid demand for vape products in the following years.

Share of E-cigarette Smokers as of February 2024

Country Share
New Zealand
Saudi Arabia
United States
Hong Kong
South Africa

Indonesia Surges in E-cigarette Use

Comparing the data for the current and last year, it can be seen that European countries like Ukraine and Romania held the highest share of e-cigarette users. However, in 2024, Indonesia dominated e-cigarette consumption with 32 % of e-cigarette smokers while Russia fell from the list of countries with highest e-cigarette usage.

E-cigarette Boom in the Gulf Region: UAE and Saudi Arabia Top Rankings

It’s striking to note that Romania’s share of E-cigarette users more than doubled between 2023-2024 and the Gulf region comprising UAE (30%) and Saudi Arabia (28%) superseded both UK (25%) and USA (24%) in terms of e-cigarette smokers. This is despite the fact that America and Europe both had considerably higher demand for vapes compared to the Asia Pacific, Middle East, and African regions.

E-Cigarette Market Share By Brand

JUUL Reigns Supreme in E-cigarette Market

JUUL successfully dominated the reusable e-cigarette market in April 2021, having a substantial share of 51.6%. Also, it incredibly captured nearly half of the entire e-cigarette market at 49.7% share.

Puff Bar Takes the Disposable E-cigarette Crown

In the disposable e-cigarette sector, Puff Bar emerged as the best competitor, conquering a market share of 51.3%, followed closely by BIDI Stick with a 24% share respectively.

British American Tobacco has surpassed all other brands in becoming the leading global brand with the highest ranking. However, it is notable that Elf Bar is on the most popular ranking after British American Tobacco as the second highest ranking company.

In the United States, Juul emerged as a top E-Cigarette Brand with a notable market share of 37% in the year 2022. However, Vuse was a challenging runner-up with a 30% market share.

Source: Truth Initiative, Statista

– The standard price of 1 mL of e-liquid dropped 69.2% from US$7.96 to US$2.45 in 2023. This diminution in e-cigarette costs is conducive to enlarging the e-cigarette market.

– From February 2, 2020, to March 26, 2023, the number of e-cigarette units sold advanced by 42.9%, rising from 15.6 million to 22.4 million. Amid this timeframe, sales of non-tobacco-flavored e-cigarettes, encompassing mint, menthol, and other savors, experienced a striking increment of 57.8%, ascending from 11.2 million to 17.6 million units.

– As per the 2022 National Youth Tobacco Survey (NYTS) findings, almost 14.1% (2.14 million) of high school students and 3.3% (380,000) of middle school students were existing e-cigarette users. A marked majority, 84.9%, leaned flavored e-cigarettes.

– Over a reasonably brief period, between February 2, 2020, and March 26, 2023, the overall sales of menthol-flavored e-cigarettes saw a boost of 31.7%, soaring from 5.2 million units to 6.8 million units. This transition contained a 32.4% rise in sales of menthol-flavoured cartridges, surging from 4.8 million units to 6.4 million units.

– As of March 26, 2023, sales of menthol-flavored e-cigarettes comprised 30.4% of the total e-cigarette market and 61.1% of the prefilled cartridge market. The 2022 NYTS demonstrated that 26.6% of flavored e-cigarette users preferred menthol, while among students using prefilled cartridges, 53.9% opted for menthol.

Between February 2, 2020, and March 26, 2023:

– Sales of disposable e-cigarette devices saw a powerful surge, escalating by 196.2% from 4.0 million units to 11.9 million units.

– Conversely, sales of prefilled cartridges experienced a slight decline, dropping by 10.3% from 11.6 million units to 10.4 million units.

Affordability Drives E-cigarette Market

The affordability element greatly influences the e-cigarette market, enticing consumers who are interested in a cheaper and potentially healthier replacement for customary cigarettes. An impressive decline in the average price of 1 mL of e-liquid is a case in point.

Flavored Vapes Gain Ground

Also, the sales of non-tobacco-flavored e-cigarettes such as mint, menthol, and other flavors experienced a remarkable surge of 57.8%. This reflects a vigorous preference among flavored e-cigarettes.

The considerable accumulation in total e-cigarette unit sales from February 2, 2020, to March 26, 2023, further reflects the growing favor of these products.

Source: Research and Markets, CDC Foundation, Yahoo Finance

Expansion Of E-Cigarettes Market Globally

Years Market Cap
22.5 Bn
37.7 Bn

The projected development of the global e-cigarette market is from $22.5 billion in 2023 to $37.7 billion by 2033, with a compound annual growth rate (CAGR) of 5.3% over the forecasted period.

The multinational e-cigarette and vape market was valued at USD 27.8 billion in 2023 and is anticipated to gain USD 66.2 billion by 2032, with a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2023 to 2032.

Report Attribute Key Statistics
Base Year
Forecast Years
Historical Years
Market Size in 2023
US$23.3 Billion
Market Forecast in 2032
US$38.8 Billion
Market Growth Rate 2024-2032

The global market size of e-cigarettes was estimated at US$23.3 billion in 2023. Further, IMARC Group expected a US$38.8 billion by 2023, which sets forth an increment of 5.7% (CAGR) from 2024 to 2032.

– In 2022, North America held the leading position in the global E-Cigarette and Vape market, capturing a market share of 40%.

– The global e-cigarette and vape market is projected to expand at a compound annual growth rate of 25.0% between 2022 and 2029, reaching a valuation of US$134,274.54 million by 2029.

– The global e-cigarette market is expected to experience an annual growth rate of approximately 12.49% during the forecast period spanning from 2023 to 2030.

In 2022, North America affirmed its sovereignty in the global E-Cigarette market by holding a substantial 40% market share.

Also, the global e-cigarette and vape market seems poised for significant growth, with forecasts displaying a remarkable compound annual growth rate (CAGR) of 25.0% between 2022 and 2029.

Sources: Custom Market Insight, Recovery Center of Niagara, RELX, TrueInitiative

Rising Preference for E-Cigarettes Over Traditional Cigarettes

– After smoking a tobacco cigarette for 5 minutes, nicotine levels (18.8 ng/ml) are 185% more elevated than those from first-generation e-cigarette devices and 286% more heightened than those from new-generation e-cigarette devices.

– Among middle and high school students, the most tobacco-used products found were e-cigarettes in the United States in 2023. In the same year, 2.1 million (7.7%) students were using e-cigarettes. This includes 550,000 (4.6%) middle school students and high school students, around 1.56 million (10.0%).

E-cigarettes Deliver Less Nicotine Than Cigarettes

After smoking a tobacco cigarette for 5 minutes, nicotine levels (18.8 ng/ml) are extremely higher compared to those from first-generation e-cigarette devices by 185% and new-generation e-cigarette devices by 286% substantially.

This stark disparity stresses the potential for traditional cigarettes to produce nicotine in more elevated concentrations compared to e-cigarettes.

Survey Shows Shift in Student Trends

Moreover, Statistics disclose that 2.1 million students, accounting for 7.7% of the student population, were using e-cigarettes. This comprises 550,000 middle school students (4.6%) and approximately 1.56 million high school students (10.0%).

A larger market share of around 75% was observed in the male category in 2023. As more male consumers are making the switch towards e-cigarette products as a smoking cessation resource, this category is prophesized to dominate in the coming years also.

Females have taken the lead in the faster-growing category, while males are in the larger category.

Source: Prescient And Strategic Intelligence, IMARC Group, Statista, NIH, CDC.GOV

Appeal Of E-cigarettes Among Younger Consumers

The table shows that the United Kingdom has shown more interest in vaping products, which are exceptionally popular among younger consumers. The highest share of users falls in the youngest category; the 18-19 age group accounts for 27% of users who use vape pens/vaporizers at least occasionally.

Age Groups Percentage
Youngest users dominate 18-19 age group

The table below reveals the diverse popularity of vaping worldwide. In Indonesia, one in four people have used a vape every so often. In Europe, vaping is entirely approved in Switzerland and the United Kingdom, with consumption rates of 15% and 13%, respectively. Notably, in the UK, 27% of 18-19-year-olds reported occasional vape use, the highest among the surveyed age groups. The other way around, vaping is least common in Brazil, where only 6% of online respondents informed occasional use of vape products, which is a negligible percentage.

Source: Statista

Country Percentage
United States
United Kingdom

Lower Nicotine Levels Compared to Traditional Tobacco Cigarette

– In an e-cigarette that carries a maximum of 15 puffs, only 0.5-15.4mg of nicotine is found.
– A nicotine dose of 3mg or 0.3% is generally the lowest.
– 0mg, which is nicotine-free.
– 3mg-5mg accounts for low nicotine concentration
– 6-11mg is in the middle of low to medium concentration.
– A 5mg or 0.5% nicotine strength is another low-concentration
– A nicotine level of 6mg or 0.6% is also deemed low.
– Nicotine concentrations of 10mg or 1%, 11mg or 1.1%, and 12mg or 1.2% are suggested as medium strengths.
– The nicotine content in a cigarette typically ranges from about 1.1mg to 1.8mg, totaling approximately 22mg to 36mg in a pack.
– On average, e-cigarettes contain nicotine levels ranging from 0.5mg to 15.4mg per 15 puffs in more than 7,700 different e-liquid flavors.

E-cigarettes Offer Range of Nicotine Strengths: Catering to Light and Heavy Users

The nicotine content in e-cigarettes contrasts greatly. E-cigarettes delivering a maximum of 15 puffs can include between 0.5mg and 15.4mg of nicotine. This broad scope of nicotine can ideally acclimate both light and heavy nicotine consumers.

Among e-cigarette users, a nicotine dose of 3mg, or 0.3%, is the lowest and also very popular, particularly among sub-ohm vapers and vapers under 50 years old.

Low-Nicotine and Nicotine-Free Vapes: Expanding the E-cigarette Market

Nicotine-free options (0mg) are also available, with low nicotine concentrations ranging from 3 to 5mg. For infrequent smokers, a 5mg (0.5%) nicotine strength is appropriate. Simply put, it broadens the market appeal of e-cigarettes and vapes to more extensive consumers.

The evolution of no nicotine disposable vapes has initiated a striking transformation in the vape market dynamics, tempting more youthful demographics who constantly strive for tobacco-free possibilities.

Source: Tablites, Custom Market Insights

Rising Product Availability Through Various Distribution Channels

– Ordered by distribution channels, the global e-cigarette market is split into retail and online sectors. In 2022, the retail segment encountered the most consequential expansion, accounting for over 83.5% of the market share. E-cigarettes are readily available via platforms such as gas stations and vape stores.

– Many young e-cigarette users favor disposable devices (55.3%), followed by prefilled or refillable pods or cartridges (25.2%) and tanks or mod systems (6.7%). Besides, 12.8% indicated uncertainty about the sort of device they operated.

– Disposable e-cigarettes cost $20 per week, whereas refillable e-cigarettes and e-juice combined cost roughly $30 on average.

Disposable E-cigarettes Dominate Market with Young Consumers

Young consumers, comprising 55.3% of the market, prefer disposable e-cigarettes. This reflects an inclination towards comfort and simplicity. The noteworthy proportion (25.2%) of users choosing prefilled or refillable pods or cartridges suggests a preference for customizable vaping adventures.

In 2022, the rechargeable segment received 43.5% of the total revenue, mainly due to the cost-effectiveness of these units compared to their counterparts.

Many vapers believe that non-menthol flavors found in e-cigarettes diminish the notion that e-cigarettes contain specific detrimental effects.

On the contrary, significant youngsters are drawn towards refillable vape pen since they can frequently experiment with more flavors to elevate their vaping journey.

Rechargeable vapes have proven to be a more economical vaping solution for the younger cohort because they can be used again and again by powering them up each time the battery drains out. This lowers the long-term expense for users, which is incredibly adorable for youngsters with restricted budgets.

Source: CDC.GOV, ACES.EDU, Custom Market Insights

The Bottom Line

Despite tightening ordinances in several nations, e-cigarette demand in the United States remains spirited, buoyed by a rising cohort of young adult consumers.

As the vaping industry ripens, there is a movement towards higher-capacity disposable vapes, particularly by avid vapers who vape more frequently and enjoy more significant puff rates for uninterrupted vaping. The 8000 Puff Disposable confirms this trend and can seize a noteworthy portion of the market, glancing for high-capacity alternatives.

For more related statistics, take a look at Elf Bar Nicotine Content and Number of people vape in Australia.