One of the many countries in the world where vaping has really taken off and where the electronic cigarette market is thriving and growing is the United States. This is due mostly to the fact that these devices produce a harmless vapour that is a lot safer and healthier than the smoke produced by regular tobacco cigarettes. As more people want to lead healthier lifestyles by quitting smoking, they are taking up vaping in order to make a smooth transition to ditching nicotine for good.
Take a look at the facts below to get a better idea of just how the e-cig market is doing in the United States.
By the Numbers
Let’s first take a look at some interesting statistics that have been gathered over the last few years regarding how many people in the United States currently use electronic cigarettes, as well as the reasons why they are vaping. By looking at these stats, it becomes really clear that the electronic cigarette market is growing rather quickly and is steadily continuing to grow as well.
First off, roughly 2.5 million people in the United States alone are already using electronic cigarettes. Again, this number is expected to grow, and it does not even factor in all of the vapers that are found all over the world.
Also, in 2011 alone, 6% of the population of adults in the United States gave electronic cigarettes a try. This percentage is actually double the amount of people who tried e-cigs in 2010.
Cigarette Smokers and E-Cig Vapers
19% of the adults in the United States smoke regular cigarettes, and the percentage of tobacco cigarette smokers who tried e-cigs in 2010 was 10%. But in 2011, a mere year later, that number had already risen to 21%.
This is indicative of the fact that many people who are currently smoking regular cigarettes are finding that vaping is a great alternative, or it may indicate that they are at least trying out vaping probably in an attempt to quit smoking for good. In fact, 6.3% of tobacco cigarette smokers currently use electronic cigarettes in the United States.
Genders and Age Groups
When it comes to genders, it turns out that women are actually more likely to start using electronic cigarettes than men. And, as you may have guessed, when it comes to smoking regular cigarettes, men dominate the tobacco market.
Also, when it comes to age groups, statistics show that those between the ages of 18 and 24 are the most likely to have given electronic cigarettes a try already. This is probably because they are more aware of the presence of so many e-cig devices and accessories on the market. It could also be because advertising is directed towards younger people who want to quit smoking or who want the look of smoking without the adverse health effects. This is also an age group that is more aware than ever of the many risks of smoking, so they may never have even smoked before but would be willing to give a vaping a try, especially since e-liquids are available without any nicotine at all, making this a non-habit-forming hobby.
How Much Money Does the Electronic Cigarette Market Make?
The electronic cigarette market is a fairly new one that has only been around for a few years. Compare this to the tobacco cigarette market, which has been around for decades. So the electronic cigarette market has quite a bit of catching up to do, but it is not disappointing in terms of its performance thus far. In fact, the e-cig industry has seen some pretty rapid growth so far all over the world as more people turn away from smoking regular tobacco cigarettes and are becoming increasingly interested in all of the benefits provided by electronic cigarettes.
Again, by looking at statistics and numbers, we can really see how the electronic cigarette market has grown in such a short amount of time. To put things in perspective and give you a clearer picture, let’s look at the year 2013, even though the e-cig market has been around since the early 2000s. The overall electronic cigarette market that year was valued at an incredible $1.7 billion. And, again, even though that number is really small when compared to the amount of money pulled in by the tobacco industry, it is definitely making an impact, and the profits of the tobacco cigarette market have been falling at the same time that the e-cig industry’s profits have been growing.
The e-cig market is not going anywhere, according to experts. In fact, Wells Fargo has already predicated that the market will continue to grow over the next decade. And by the end of that decade, the e-cig industry will be as large and successful as the tobacco industry.