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Analysis Report: The Vape Market Size Will Reach 180 Billion USD By 2030

A analysis report from shenzhen jieshibo technology Co.,Ltd marketing department:
It is estimated that the global electronic cigarette and vape market will reach to 180 billion USD by the year of 2030, with a CAGR of 30.6% from 2023 to 2030.

As people are more and more concerned about the harm of traditional cigarettes, more and more attention has been paid to electronic cigarettes and vaping products with greatly reduced harm. Electronic cigarette and electronic liquid products have various tastes and types. The continuous improvement of vape technology enables users to choose the devices and tastes they are interested in. People’s awareness of healthier alternatives to tobacco has been improved, and the global consumption of e-cigarettes has been continuously promoted.

As the emergence of high-capacity vape pen that makes a lot of steam cloud and fragrance, vapor lovers number preference for these products has increased. Vape pen is a natural smoking cessation therapy, because vape pen helps a large proportion of smokers quit smoking. In addition, former smokers believed that having vape pen made them breathe better.

The cost of traditional cigarettes is increasing, which has led some countries to adopt strict laws to limit the development of e-cigarettes. However, due to the improvement of vaping technology and the popularity of products, the advantages of e-cigarettes are increasingly obvious, and the sales volume has also been rising.

So, more people will start to use vape devices, especially those who smoke for entertainment and those who try to quit smoking completely. The COVID-19 made an increase in the number of indoor smokers around the world. However, in countries such as Italy, vape stores continue to operate during the closure period.

Many retailers use marketing technology and provide goods online to take advantage of the growing demand for vape products. For example, MyVapery/Xyfil in the UK sells bottled flavored nicotine e-liquid containing hand sanitizer. The industry is dominated by well-known companies with huge market share. Most of these enterprises invest in vape pens because vape pens are considered to be effective substitutes for tobacco.

Highlights of vape pens products of Shenzhen Jieshibo Technology Co., Ltd.:

Modular devices are advanced gadgets used by competitors in professional vape competitions. These technologically advanced devices provide programmable functions, such as temperature control and variable power control.

Based on the feedback from the market, we have reason to believe that in the next few years. The electronic cigarette industry will continue to maintain a rising posture.

We will also continue to maintain high enthusiasm and commit ourselves to continuously improve our products to meet the needs of consumers.