The electronic cigarette market has been steadily growing since it was first created in the early 2000s. In fact, year after year, more and more people all over the world are finding out more information about e-cigs and what vaping is all about. And as more people learn about vaping, more of them are heading out and purchasing their first e-cig kits so they can get started.
Why People are Making the Switch to Vaping
There are a host of great reasons why vaping has become so popular so quickly.
First off, vaping is the perfect alternative to smoking regular tobacco cigarettes. For those who enjoy the act of smoking but don’t like the fact that tobacco cigarette smoke is loaded with thousands of chemicals and toxic carcinogens, vaping is the solution because it’s just like smoking, but without the smoke. Instead, what’s produced is a harmless and non-toxic vapour that’s safe for the vaper, for the people around him/her, and for the environment.
Speaking of the environment, vaping is also better for the planet. As long as vapers educate themselves on how to keep their devices in the best shape for the longest time possible, there will be less waste. And this is especially true if they also take the proper steps to recycle their e-cig devices and accessories instead of simply throwing them out in the regular trash. Plus, there’s no need to cut down millions of trees each year to produce e-cigs because they don’t use paper like regular cigarettes do. And on top of the vapour being non-toxic, there also is no need to toss a cigarette into the environment either when you’re done with it. This leads to less pollution and less waste in the natural world.
Finally, because you get to use the same e-cig device multiple times, resulting in less waste, you also get to save a lot of money in the long run. And this is great news for those who are tired of spending so much of their hard-earned money on pack after pack of regular cigarettes whose price continually rises.
Statistics That Prove the E-Cig Market’s Here to Stay
Because of all of the reasons above and more, the e-cig market has seen substantial growth over the last few years. But to really understand just how much it’s grown, check out the stats below.
The percentage of people who tried electronic cigarettes and eventually were able to quit smoking regular cigarettes within just 6 months is 31%. And the percentage of adults in the United States who have given electronic cigarettes a try is 2.7% of the population.
While percentages are great at proving just how successful the e-cig market is on a whole, though, let’s take a look at some actual numbers as well to put everything into perspective.
First off, 45 million people in the United States smoke regular tobacco cigarettes. Compare this number to the 2.5 million people in America who’ve started vaping and using e-cigs and you may feel as though vaping isn’t really catching on as quickly as you originally thought. But it’s really important to note that tobacco smoking has been around for many decades, and a massive industry has come about as a result of people’s addictions to nicotine and tobacco cigarettes. But the e-cig market is just a baby compared to the tobacco cigarette market because it’s just a few years old. So when you put things in perspective, you’ll quickly see just how well the e-cig market has been doing and how impressive it really is.
Market Share in the E-Cig Industry
Every industry has its list of biggest players who make up the majority of the market and, therefore, control the market. The e-cig industry is no exception. Below is a breakdown of the biggest companies in the e-cig market, as well as their respective market share.
- NJoy – 32%
- Vapor – 16%
- Blu – 2%
- Metro – 6%
- Smoker Friendly – 3%
- Other – 41%
Electronic Cigarette Sales By the Year
Since the electronic cigarette market really took hold, there has been steady growth. Check out the years below and the amount of money in sales that the e-cig market enjoyed in each year to see just how far the industry has come in such a short amount of time.
- 2008 – $20 million
- 2009 – $39 million
- 2010 – $82 million
- 2011 – $195 million
- 2012 – $500 million
- 2013 – $1 billion
As you can see, the e-cig industry was a multi-million dollar industry right away, with steady growth until 2009. By 2010, you can see a big jump in the amount of sales throughout the market, and then larger and larger jumps until, by 2013, the industry was already bringing in $1 billion. This growth is expected to continue.