As the vaping industry matures, industry insiders, health experts, investors, and the public are interested in how fast the industry has grown, how and why it’s grown so fast, and what the future might hold for the vaping industry as a whole.
As vapers, we know very well the up-front benefits of vaping and now a number of statistics have gone to show that it’s a global business and very popular form of smoking. Just how large the vaping industry has got is news to many people, even vapers themselves.
One of the surprising stats is the actual amount of people who vape. The World Health Organization (WHO) reports that, from 2011 to 2016, there was an increase of about 28 million people vaping globally.
In Europe and few countries in Asia alone, there has been an 86% increase in the number of people using e-cigarettes between the years of 2013 and 2015, approximately 2.8 million of which are living in England.
If you’ve taken on vaping to curve a smoking addiction, you’re not alone. When it comes to past smokers who might’ve turned to vaping for a healthier solution, statistics show that 37% of current vape smokers were tobacco smokers in the past, while 40% of surveyed smokers said they’d never tried a vape before in their lives.
Many people still say that vaping hasn’t done anything in the smoking industry, however, the number of smokers has dropped considerably since the smoke-heavy times of the 20th Century. This may or may not be attributed to the recent boost in vaping and e-cigarettes.
When looking at the business side of things, vaping is also an incredibly profitable market.
In terms of ages, the majority of users who vape fall between the ages of 18-29. Out of all of the vaping products they use, e-liquids bring in about 39% of all the revenue made from the vaping market (seeing as “e-liquids” is a term that isn’t really used in the real world, this refers to the kind of liquids found in products such as JUUL Pods).
One thing that has recently found its way into the vaping market has been flavored e-cigarettes. Out of all of the uncountable flavors, cannabis and fruit flavors make up almost 50% of all flavors that are created and used.
Despite the clearly thriving business, it’s no surprise that many countries are strict about vaping and the usage of e-cigarettes.
No matter where you go, you’ll find that vaping is treated like tobacco smoking (this is a global approach to vaping, not just a Western take on the activity). In most countries, cannabis flavored or THC-infused vape juices are banned, seeing as weed is illegal in most countries.
One of the only exceptions to this cannabis-rule would be in Canada, where marijuana has been legalized. Federal regulations regarding weed in Canada are, however, very strict, especially for minors.
In terms of the future of vaping, it doesn’t seem like it’s going anywhere. If anything, it may improve in the next decade or so: there seems to be a global push towards freer markets and less-strict drug laws (mainly marijuana). This might make cannabis-infused e-cigarettes a norm and transform the drug industry in the process.
Knowing all of this information may or may not be news to you, but there’s no doubt it will make you a more knowledgeable vaper. Like any other activity, don’t be afraid to try new things and use these statistics to your benefit.