Vape Market Report 2025 (Global Edition)

Global Vape Market Report 2025 Market Size Split by Product Type (Disposable, Rechargeable, Modular, Others), by Component (Atomizer, Vape Mod, Cartomizer, E-Liquid, Others), by Flavours (Tobacco, Bot...

Vape Market Report Description

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Competitive Landscape of the Vape market

The competitive landscape of the vape market is characterized by numerous manufacturers and brands vying for market share through innovation, product differentiation, and aggressive marketing strategies. Key players constantly introduce new devices, flavors, and accessories, while regulatory challenges and shifting consumer preferences contribute to a dynamic and fiercely contested marketplace.

Vape Industry News

In Mar 2023, Altria Exchanges Minority Stake in JUUL for Heated Tobacco IP Rights. Altria Group trades its JUUL ownership for a non-exclusive global license to certain heated tobacco intellectual property. CEO cites regulatory challenges. 

(Source: https://ir.atimaterials.com/news-events/news-details/2023/ATI-announces-Richland-Washington-as-site-of-titanium-melt-expansion/default.aspx)

In Jun 2022, Supreme PLC Acquires Liberty Flights, Expanding Vape Market Presence. Supreme PLC, a consumer products leader, acquires Liberty Flights for £14.75m. The move aligns with Supreme's tobacco-free UK strategy, tapping into the booming pod system market. Liberty Flights to operate independently initially. Earnings expected to rise.

(Source: https://capeq.com/supreme-plc-acquires-liberty-flights/)

Top Companies Market Share in Vape Industry: (In no particular order of Rank)

• Japan Tobacco International (JTI)
• Juul Labs
• NJOY LLC
• Reynolds American Inc.
• British American Tobacco (BAT)
• Philip Morris International (PMI)
• Vaporesso
• Imperial Brands (Blu)
• Aspire
• Logic Technology
• Eleaf Development LLC
• KangerTech
• SMOK
• Mig Vapor
• Vuse
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Vape

Which Region Dominates the Vape Market in 2024?

According to Cognitive Market Research, North America stands as the dominant region in the global vape market in 2024, boasting a substantial 40% share of the market. The domination of this area may be ascribed to a number of things, such as an established vaping culture, the general acceptability of vaping as a substitute for traditional smoking, and advantageous regulatory frameworks in some areas. Adults wishing to cut back on or give up smoking are increasingly turning to vaping in nations like the US and Canada, which has resulted in a huge demand for vaping goods.  The existence of reputable vape stores, producers, and distribution systems strengthens North America's position as the industry leader in vaping. Strong consumer demand and continuous industrial innovation allow the area to prosper despite periodic conflicts and regulatory obstacles.

Which Region Is Expanding at The Fastest CAGR?

In the worldwide vape industry, the Asia Pacific region is expected to develop at the quickest rate, with a Compound Annual Growth Rate (CAGR) of 33.0% by 2024. Numerous causes, such as a growing population, rising disposable incomes, and shifting perceptions of smoking and tobacco use, are contributing to this industry's explosive growth. Growing public knowledge of the health hazards of traditional smoking is causing people in many Asia-Pacific nations to look for safer alternatives, such as vaping.  Numerous prospects for market expansion are presented by the region's changing lifestyle preferences and diversified population makeup. Restrictions around vaping are being adopted by the governments of several Asian nations, which is driving up industry growth. Because of this, investors and makers of vape devices have turned their attention to the Asia Pacific area in an attempt to take advantage of its enormous development potential.

The current report Scope analyzes Vape Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Vape Market

According to Cognitive Market Research, the global vape market size was estimated at USD 28152.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 11260.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 29.5% from 2024 to 2031. The vape industry in North America is growing steadily thanks to several important factors. The area has a developed vaping culture, and a sizable percentage of people have adopted vaping as a substitute for traditional smoking. Some North American states with advantageous regulatory frameworks have created a market climate that is favorable to producers, retailers, and consumers.  The region's demand for vaping goods is rising due in part to rising health consciousness among consumers and a desire to lessen the negative impacts of tobacco use. Specialty e-cigarette stores are a prominent market niche in North America for vaping products. These specialty shops provide vaping aficionados with a customized shopping experience by offering a large assortment of items, knowledgeable guidance, and attentive service. Vapers are catered to by specialty e-cigarette stores, which have created a niche market where customers may try out different e-liquids, accessories, and vaping devices. The vaping scene in North America is greatly influenced by specialty e-cigarette stores because of their emphasis on knowledge and client happiness.

• According to Cognitive Market Research, the US had a major share in the vape market with a market size of USD 8884.83 million in 2024 and is projected to grow at a CAGR of 29.0% during the forecast period. Growing health awareness, technological advancements, and a desire for smoking alternatives drive the vape market in the United States.
• The Canada vape market had a market share of USD 1351.31 million in 2024 and is projected to grow at a CAGR of 30.0% during the forecast period. Increasing regulations, rising popularity among young adults, and a shift towards vaping as a harm reduction tool influence market growth in Canada.
• The Mexico vape market is projected to witness growth at a CAGR of 29.7% during the forecast period with a market size of USD 1024.74 million in 2024.

Europe Vape Market

According to Cognitive Market Research, with a market value of USD 28152.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 29.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 8445.66 million. The vape industry in Europe is steadily expanding thanks to several important regionally specific causes. European consumers' growing health consciousness is fueling the market for vaping goods as alternatives to traditional tobacco use.  Vaping is becoming more and more popular in Europe because to strict tobacco laws, where some governments are actively pushing e-cigarettes as harm-reduction devices.  A varied customer base is being drawn to products with innovative tastes and offerings across Europe. These elements support the expanding acceptability of vaping culture and help to drive the region's vape market's overall growth. Specialty e-cigarette stores became the largest market sector in Europe for vaping products. These niche stores provide a carefully chosen assortment of vaping supplies in addition to knowledgeable guidance and attentive customer support. Specialty e-cigarette stores, which cater primarily to vaping aficionados, offer a distinctive shopping experience that draws customers looking for high-quality goods and usage advice. The existence of these specialized brick-and-mortar businesses underscores the increasing acceptance and popularity of vaping culture in Europe, establishing specialty e-cigarette stores as major participants in the vape industry in the area.

• The United Kingdom vape market had a market share of USD 1418.87 million in 2024 and is projected to grow at a CAGR of 30.3% during the forecast period. Favorable regulatory environment, strong vaping culture, and increasing adoption among ex-smokers contribute to market expansion in the UK.
• The France vape market is projected to witness growth at a CAGR of 28.7% during the forecast period with a market size of USD 777.00 million in 2024.
• According to Cognitive Market Research, the Germany vape market size was valued at USD 1672.24 million in 2024 and is projected to grow at a CAGR of 29.7% during the forecast period. Technological innovation, expanding distribution channels, and a preference for high-quality vape products fuel market growth in Germany.
• The Italy vape market is projected to witness growth at a CAGR of 28.9% during the forecast period with a market size of USD 726.33 million in 2024.
• The Russia vape market is projected to witness growth at a CAGR of 28.5% during the forecast period with a market size of USD 1309.08 million in 2024.
• The Spain vape market is projected to witness growth at a CAGR of 28.6% during the forecast period with a market size of USD 692.54 million in 2024.
• The Luxembourg vape market is projected to witness growth at a CAGR of 29.6% during the forecast period with a market size of USD 261.82 million in 2024.
• The Portugal vape market is projected to witness growth at a CAGR of 29.3% during the forecast period with a market size of USD 177.36 million in 2024.
• The Greece vape market is projected to witness growth at a CAGR of 29.8% during the forecast period with a market size of USD 101.35 million in 2024.
• The Rest of Europe vape market is projected to witness growth at a CAGR of 28.2% during the forecast period with a market size of USD 1309.08 million in 2024

Asia Pacific Vape Market

According to Cognitive Market Research, the global vape market size was estimated at USD 28152.2 million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 6475.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 33.0% from 2024 to 2031. The vape market is expanding in the Asia Pacific region, where a number of growth drivers are contributing to its dynamic environment. The region's vast and varied population, which includes a sizeable percentage of smokers looking for alternatives to conventional tobacco products, is one important aspect.  Growing disposable incomes and evolving lifestyles are factors driving increased consumer expenditure on vaping goods. Online retail overtakes other market segments as the leading vaping industry in the Asia Pacific area. Online vaping product sales have been increasingly popular due to the broad use of e-commerce platforms and the accessibility and convenience they provide. This category is dominating because consumers in this region increasingly choose the convenience of exploring and buying e-liquids and vaping equipment from online shops. In the upcoming years, it is anticipated that online retail will continue to dominate the vape business as online purchasing gains momentum throughout Asia Pacific.

• According to Cognitive Market Research, the China vape market size was valued at USD 2913.75 million in 2024 and is projected to grow at a CAGR of 32.5% during the forecast period. Manufacturing expertise, a large consumer base, and changing attitudes towards smoking drive the vape market's growth in China.
• The Japan vape market is projected to witness growth at a CAGR of 31.5% during the forecast period with a market size of USD 893.55 million in 2024.
• The India vape market had a market share of USD 777.00 million in 2024 and is projected to grow at a CAGR of 34.8% during the forecast period. Rising disposable incomes, urbanization, and a growing youth population propel the vape market's development in India
• The South Korea vape market is projected to witness growth at a CAGR of 32.1% during the forecast period with a market size of USD 647.50 million in 2024.
• The Australia vape market is projected to witness growth at a CAGR of 32.7% during the forecast period with a market size of USD 336.70 million in 2024.
• The South East Asia vape market is projected to witness growth at a CAGR of 34.0% during the forecast period with a market size of USD 446.78 million in 2024.
• The Rest of Asia Pacific vape market is projected to witness growth at a CAGR of 32.8% during the forecast period with a market size of USD 459.73 million in 2024

 

South America Vape Market

According to Cognitive Market Research, the global vape market size was estimated at USD 28152.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 1407.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 30.4% from 2024 to 2031. The market for vaping goods is expanding in Latin America due to a number of important factors. Growing knowledge of the negative consequences of smoking regular tobacco has led users in the area to look for other nicotine delivery methods, such as vaping. The increased demand for vaping goods is a result of shifting lifestyles, urbanization, and an increase in the number of young adults. Advantageous regulatory frameworks in certain Latin American nations augment market expansion, presenting prospects for producers and merchants to broaden their activities inside the area. The market sector that dominates the vape market in Latin America is specialty e-cigarette stores. These niche retail stores provide a large selection of goods, knowledgeable guidance, and individualized services to meet the various demands of vaping fans. Specialty e-cigarette stores cater to the vaping community and offer a distinctive shopping experience that appeals to local customers. Specialty e-cigarette stores are essential in satisfying the increasing demand for vaping goods and promoting a thriving vaping culture throughout Latin America, as vaping continues to gain popularity in the area.

• According to Cognitive Market Research, the Brazil vape market size was valued at USD 602.46 million in 2024 and is projected to grow at a CAGR of 31.0% during the forecast period. Increasing smoking cessation efforts, a diverse range of flavor preferences, and expanding e-commerce platforms stimulate market growth in Brazil.
• The Argentina vape market had a market share of USD 236.48 million in 2024 and is projected to grow at a CAGR of 31.3% during the forecast period. Regulatory changes, a shift towards healthier lifestyles, and the popularity of vaping among young adult’s drive market growth in Argentina.
• The Colombia vape market is projected to witness growth at a CAGR of 30.2% during the forecast period with a market size of USD 125.28 million in 2024.
• The Peru vape market is projected to witness growth at a CAGR of 30.6% during the forecast period with a market size of USD 115.42 million in 2024.
• The Chile vape market is projected to witness growth at a CAGR of 30.7% during the forecast period with a market size of USD 101.35 million in 2024.
• The Rest of Latin America vape market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 36.32 million in 2024.

Middle East and Africa Vape Market

According to Cognitive Market Research, the global Vape market size was estimated at USD 28152.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 563.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 30.7% from 2024 to 2031. The vape market in the Middle East and Africa (MEA) is characterized by distinct dynamics that stem from a blend of cultural, economic, and regulatory considerations. The rising popularity of vaping as a substitute for traditional tobacco use is one important growth element in the MEA area. A rising number of people are becoming interested in vaping goods as the health dangers of smoking become more widely known, especially among younger audiences. The increasing number of young people in the area and their growing disposable incomes support the growing market for vaping goods. Natural plant extracts are used to create botanical tastes, which provide a distinctive and cool vaping experience for users. Customers looking for natural and organic substitutes for typical tobacco flavors who are also health-conscious will find these flavors appealing. Herbal, floral, and botanical mixes are just a few of the alternatives available in botanical tastes, which are designed to accommodate the wide range of customer preferences in the area. Botanical flavor e-liquids are becoming more and more popular, which matches a larger trend in the MEA vape industry towards health and natural products.

• According to Cognitive Market Research, the GCC Countries vape market size was valued at USD 240.98 million in 2024 and is projected to grow at a CAGR of 31.5% during the forecast period. Growing expatriate population, urbanization, and a desire for alternative tobacco products influence market development in the GCC countries.
• The Egypt vape market is projected to witness growth at a CAGR of 4.0% during the forecast period with a market size of USD 9.48 million in 2024.
• The South Africa vape market is projected to witness growth at a CAGR of 31.7% during the forecast period with a market size of USD 88.96 million in 2024. Increasing health consciousness, urbanization, and a desire for lifestyle customization contribute to the growth of the vape market in South Africa.
• The Turkey vape market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 7.76 million in 2024.
• The Nigeria vape market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 9.48 million in 2024.
• The Rest of MEA vape market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 10.65 million in 2024.
   

Vape Market Analysis

Vape By Product Type Segment Analysis

According to Cognitive Market Research, rechargeables show great performance and hold a substantial market share, making them the dominant section in the vape industry. When opposed to disposable choices, rechargeable vaping devices provide users with the benefits of extended usage and cost effectiveness. Rechargeable batteries are usually included with these devices, enabling users to swap out coils and e-liquids as needed for a more individualized and environmentally friendly vaping experience. The rechargeable market attracts both novice and seasoned vapers looking for more advanced vaping options because of the industry's constant technology improvements and product breakthroughs. This market sector makes a significant contribution to the overall revenue of the vape industry because to its consistent demand and devoted consumer base.

With its exceptional performance and quick growth, the modular category in the vape industry stands out as the fastest-growing section. Advanced personal vaporizers (APVs), another name for modular vaping devices, provide consumers the option to personalize different parts of the device, such tanks, atomizers, and batteries, to suit their tastes. The vaping community's enthusiasts and hobbyists find this degree of customization appealing, which encourages a rise in the use of modular devices. An increasing trend towards more sophisticated vaping technology and a need for better flavor and vapor production benefit the modular market.  This market sector has the potential to expand further, taking market share and influencing the direction of the vape industry.

• Disposable
• Rechargeable
• Modular
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Vape Industry. Request a Free Sample PDF!

Vape By Component Segment Analysis

According to Cognitive Market Research, in the vape industry, e-liquid takes the lead with its steady expansion and impressive performance. E-liquids, the main consumable part of vaping devices, are essential in determining how users experience vaping. The market is helped by a broad range of flavors that satisfy different customer tastes. These flavors include fruity, dessert, and beverage-inspired alternatives in addition to classic tobacco and menthol. The development of nicotine salt-based e-liquids, which provide faster nicotine absorption and smoother throat hits, has further added to the market's appeal. Producers are always coming up with new tastes and combinations to make e-liquids more appealing and create long-term demand. As vaping becomes more popular as a substitute for traditional smoking, the e-liquid market is expected to continue expanding and to retain its leading position.

When it comes to the vape industry, the vape mod category is expanding at the quickest rate due to changing customer tastes and technical improvements. Vape mods, also known as customized vaping devices, provide consumers more customization choices by letting them change the airflow, temperature, and wattage to get the perfect smoking experience. More control and performance from their devices is what enthusiasts and seasoned vapers find appealing about this degree of customization. Vape mods that are small and portable have increased the appeal of the market and drawn in new customers who value portability above capability. In the upcoming years, it is anticipated that the vape mod industry will continue to develop quickly as more people look for high-performance and novel vaping devices.

• Atomizer
• Vape Mod
• Cartomizer
• E-Liquid
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Vape Flavours Segment Analysis

According to Cognitive Market Research, the tobacco flavor category is the top-performing one among the many vape market sectors. Because tobacco-flavored e-liquids are well-known and appealing to customers switching from traditional tobacco smoking to vaping, they have managed to hold a substantial market share. Even with a large variety of tastes available, including as fruity and sweet alternatives, tobacco flavors are still popular among vapers, especially those who want to simulate smoking without the negative health effects. The tobacco flavor category has maintained its standing as a mainstay of the vape industry because to its ongoing appeal, which generates steady demand and profits for producers and merchants.

In the vape market, the category with the fastest rate of growth is fruit flavor. Due to their appealing and varied taste profiles, fruit-flavored e-liquids have seen a sharp increase in demand from a wide range of users, including both novice and seasoned vapers. This market has grown because of the fruit tastes' vivid and alluring qualities as well as the increasing inclination towards healthier living. Fruit tastes are quite versatile and lend themselves to experimentation and creativity, which is why vapers love them so much.  Fruit flavor is one of the fastest growing segments of the vape market and is expected to keep growing.

• Tobacco
• Botanical
• Fruit
• Sweet
• Beverage
• Others

Vape End User Segment Analysis

Men continue to be the market leaders in vaping, making up a sizable share of the customer population. Due to reasons including their desire to minimize or give up conventional smoking, their curiosity about new technologies, and the social side of vaping culture, men have historically been among the first to adopt vaping goods. guys have been targeted by vaping marketers with flavors, branding, and product designs that are traditionally associated with guys, which has helped to establish their market share.  Manufacturers and merchants provide a vast choice of items and tastes that are particularly geared toward male consumers to meet their wants and preferences. Despite initiatives to draw in a more varied clientele, males continue to dominate the vape business and maintain their dominance over consumption habits.

The vape industry is still dominated by men, but women are starting to overtake them as the fastest-growing demographic. A growing number of women are switching from conventional smoking to vaping as social standards change and vaping gains greater social acceptance. For a variety of reasons, including convenience, health concerns, and tasty flavors, women are drawn to vaping.  Women-focused marketing efforts, fashionable designs, and the emergence of female-centric vape items have all helped to fuel their market expansion. Recognizing that there is enormous development potential in the female consumer market, businesses are concentrating more on meeting the demands and preferences of female customers. Women are likely to have a bigger role in the future thanks to continuous attempts to appeal to a wider audience.

• Men
• Women
• Others

Vape Distribution Channel Segment Analysis

The vape market's online retail sector has risen to prominence, showing strong success due to several causes. The ease of use and accessibility provided by internet platforms have greatly increased the appeal of online vaping product sales. From the comfort of their homes, consumers may peruse a large selection of goods from different brands, evaluate costs, and read user reviews. Online businesses frequently provide loyalty programs, incentives, and promotions to encourage customers to make purchases online. Due to lockdowns and other social distancing tactics, the COVID-19 pandemic also expedited the rise of online retail in the vape industry by encouraging more individuals to purchase online for their requirements. Online shopping continues to rule the vape sector because to its convenient reach and wide reach. It has captured a substantial share of consumer spending.

A number of variables are driving the rapid rise of specialty e-cigarette stores, which is emerging as the vape market's fastest-growing category. With a large product range, professional guidance, and tailored suggestions, these brick-and-mortar establishments cater specifically to vaping fans. Specialty e-cigarette stores serve the vaping community exclusively, in contrast to regular retail establishments. They provide a particular atmosphere where customers can engage with informed staff and other aficionados. Specialist e-cigarette stores have expanded rapidly due to the rising demand for vaping goods as well as the desire for individualized attention and knowledge. Consumers may prefer to buy from specialty stores that can offer advice on compliance and safety as vaping legislation and limits change over time.

• Specialist E-Cigarette Shop
• Online Retail
• Supermarkets
• Tobacconist
• Convenience Stores
• Others

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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