According to the research reports; the global E-Cigarette Market in 2019 was approximately USD 14 billion. The market is expected to grow at a CAGR of 17.0% and is anticipated to reach around USD 45 billion by 2026.
Electronic Cigarette Market Overview:
The Global Electronic Cigarette Market is expected to garner $26,839 million by 2023, from $8,610 million in 2016, registering a CAGR of 17.4% from 2017 to 2023. An electronic cigarette is a device comprising a battery, an atomizer, and an inhaler, which provides a similar experience of tobacco smoking without inhalation of smoke. The device is filled with a solution containing nicotine or nicotine-free liquid, which is heated and converted into vapor, and inhaled, and is considered less harmful as compared to conventional cigarettes. Presently, this device is being recognized as an alternative to conventional cigarettes, as it offers benefits such as zero smoke, no pollution, reduces health-related problems, and can be smoked in public places. An increase in awareness about the harmful effects of conventional cigarettes, reduced tar, and carbon monoxide inhalation through electronic cigarettes, growing affluence, and rise in technological developments by electronic cigarette manufacturers drive the growth of the market.
Vaping business is lucrative.
Vaping has been on the rise over the past few years. It’s a correct approach for you as an entrepreneur to put your focus on the area where the profit may be high.
The global vape global vapor products market was worth $22.6 billion in 2018 (versus $4.2 billion in 2013). And it’s expected to be worth $61.4 billion in 2025, which is a 20% growth.
Note that you won’t start to make a profit at once. It will take 6-12 months to return on the initial investment and start earning money.
Being a vaping entrepreneur is exciting.
There’s no routine when it comes to entrepreneurship these days. You’ll have to face new challenges every day and solve new problems. The time of spending whole days doing monotonous work goes away.
But this business is not only about handling the ordinary entrepreneur’s tasks. It’s about discussing cloud-chasing competitions and other vape events with your customers. It’s about visiting these events to promote your company. It’s about testing new products. There’s always something new and exciting going on in the vaping world.