A report published in BusinessWire gives positive cues about the future of e-cigarettes. The report has taken varied range of segments into consideration including e-cigarette and Vaping Market Size, Share & Trends Analysis Report by Product, by Distribution Channel, by Component, and segment forecasts. The report predicts a whopping $47.11 billion forecast for the global vapor products by 2025.
Following are the key findings of the report published:
The report says that modular device segment is probably the fastest moving e-cig segment among all. It’s rising at a CAGR of 24.9% over the forecast period. To recall, a modular device allows users to adjust vapor output according to their preference.
The report further reads that e-liquids would be the game changer with the highest CAGR of 26.7%. The surge would be attributed to the arrival of DIY e-liquids. The report continues that online vaping stores appear to be the most popular medium for selling and buying vape products.
To promote and boost sales of the vaping products, vendors are using social media applications such as Instagram, WhatsApp, and Facebook increasingly. The report applauds North America for having the largest share in the market in terms of revenue. The country is estimated to reach USD 20.49 billion by 2025.
While preparing the report, researchers haven’t taken in the account the FDA’s most recent proposals citing prohibition against characterizing flavors and prohibition against online sales. The proposal, as experts believe would hit the U.S. vapor products market badly.
Complete study and analysis of the project is yet to come. Stay tuned.