USD 1.6 billion
Vape Cartridge Market Size, Share, Growth Analysis, By Product(Plastic, Glass, Metal), By Distribution Channel(Online and Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30J2013 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Vape Cartridge Market Insights
Global Vape Cartridge Market size was valued at USD 1.6 billion in 2021 and is poised to grow from USD 2 billion in 2022 to USD 9.9 billion by 2030, growing at a CAGR of 20% in the forecast period (2023-2030).
Growing interest in vape cartridges as an alternative to conventional tobacco is anticipated to be significantly influenced by growing concerns about cardiovascular disorders and an uptick in cancer deaths worldwide. In addition, increased access to a variety of flavor vape cartridge options through offline and online channels has been crucial in fostering the product's penetration among millennials over the coming few years. Vape cartridges are becoming more and more popular among consumers as a way to control their daily nicotine intake. E-juice is sold by businesses in a wide range of varieties, from nicotine-free to high-strength. Customers can choose the precise amount of nicotine they wish to vape.Industry participants are developing more compact, low-vapor products like pod vapes because high-powered mods are better suited for cloud chasing. By adjusting the airflow, power output, and coil type, vapor volumes can be tailored. In addition, it is anticipated that over the next few years, the market for vape cartridges will grow as a result of the customization possibilities provided by numerous manufacturers and the quick development of new products.
Due to their appealing design and benign nature, vape cartridges are becoming a more and more common practice among the millennial age. educating the public about the different research done by medical associations that show that e-cigarettes and vapes are safer than regular cigarettes. Strict government rules on the production of vape cartridges in nations like the United States and Germany are anticipated to have a detrimental effect on the industry's growth. It has been noted that many nations have outlawed the sale and distribution of vapor products.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
20% CAGR
Global Vape Cartridge Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Vape Cartridge Market Segmental Analysis
Global Vape Cartridge Market is segmented based on Product and region. Based on Type the market is segmented into Plastic, Glass, Metal. Based on Distribution Channel the market is segmented into Online and Offline. Based on region the global Vape Cartridge Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
Plastic emerged as the leading segment in 2021 with a revenue of USD 382.4 million. The product is budget-friendly and easily available at convenience stores and hypermarkets. Buyers choose to acquire this product as it is convenient and lightweight. The most popular size for plastic vapes cartridges is between 0.5 and 1 ml. However, it is anticipated that the main consumers will continue to be a sizable portion of the middle-class population in nations like China, Japan, Mexico, and Brazil who require fashionable smoking alternatives like vape cartridges.
The glass market is anticipated to grow at the quickest rate, with a CAGR of 22.8%. The main benefit of utilizing glass vape cartridges is that they preserve the vale’s taste and quality. It enables the client to appreciate the correct flavor of various liquids without being exposed to cartridge contaminants like burned coils and terpenes that bleed into the plastic. Additionally, the product maintains the liquid's viscosity during heating without melting. In developed economies like the U.S., U.K., Germany, and France, customers' preferences are shifting towards high-end goods, which will boost demand for glass vape cartridges in the future years.
Analysis by Distribution Channel
In 2021, the offline channel generated USD 497.9 million in revenue, making it the largest segment. Before making a purchase, customers can test the e-liquid and the device at vape shops. This allows customers to learn about the advantages and disadvantages of various vape cartridges in regard to their brands. Additionally, there are many contract producers in this industry, which raises the number of local brands. It has been shown that a significant section of the middle-class population prefers to purchase vape cartridges from nearby companies since they have access to offline retailers.
The fastest-growing distribution channel is anticipated to be the online market, which is projected to develop at a CAGR of 24.7%. These channels provide a range of extra services, like free cashback and membership, straightforward return policies, and doorstep delivery options. Online stores track their customers' purchasing patterns and tailor offers and discounts to suit their preferences for vape cartridges. In addition, over the coming years, key manufacturers will run an increasing number of online campaigns on Facebook, YouTube, and Instagram to boost consumer engagement.
Global Vape Cartridge Market By Distribution Channel 2022 (%)
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Vape Cartridge Market Regional Insights
North America dominated the market for vape cartridges with a 43.7% sales share. Most members of the younger demographic favor using vape cartridges and electronic cigarettes instead of conventional tobacco products. Due to its less dangerous properties and as a fashion statement, it has been shown that North Americans prefer to vape. In the US, 1 in 5 smokers also use tobacco and vape pens and cartridges. Approximately 1.5 million more students used e-cigarettes than, according to the National Youth Tobacco Survey. The introduction of tantalizing flavors and tastes of vape liquids by significant vape cartridge producers will, however, be the market's driving force.
Asia Pacific is predicted to grow at the fastest rate in the market, with a CAGR of 26.2%. The use of e-cigarettes is being fueled by a surge in smokers in Japan, China, Malaysia, and the Philippines, where there are reportedly 13 million vapers. Consumers in South Korea and the Philippines also use these products. According to a study published in "Business Mirror," about 4% of Filipinos use e-cigarettes and vape cartridges on a regular or irregular basis.
Global Vape Cartridge Market By Geography, 2022-2030
- Largest
- Fastest
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Vape Cartridge Market Dynamics
Drivers
Health Consciousness to Bolster Market Growth
- With people becoming more health-conscious, the demand for smoking alternatives has increased. Vape cartridges provide a smokeless and ashless way of consuming nicotine or cannabis, which is seen as a healthier alternative to smoking.
- E-cigarettes have become increasingly popular in recent years as a smoking alternative, and vape cartridges are commonly used with e-cigarettes. As the popularity of e-cigarettes continues to grow, so does the demand for vape cartridges.
Restraints
Regulations to Hinder Market Growth
- The vape cartridge market is subject to regulations in many countries, and the regulations can vary widely. The lack of uniform regulations can make it difficult for companies to operate in the market.
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Vape Cartridge Market Competitive Landscape
The companies compete in areas such as product quality, flavor variety, product innovation, marketing strategies, pricing, and distribution channels. With the market becoming increasingly crowded, competition is intense, and companies need to differentiate themselves to gain a competitive advantage.
Top Player’s Company Profiles
- CCELL
- Jupiter Research
- Kandypens
- Bloom Farms
- Select Oil
- Binske
- Lightshade
- The Bloom Brand
- 710 Labs
- AiroPro
- 1937 Farms
- Dosist
- Heavy Hitters
- STIIIZY
- Pure Vape
- West Coast Cure
- Raw Garden
- Brite Labs
- Friendly Farms
- Kurvana
Recent Developments
- In 2021, the U.S. The Food and Drug Administration (FDA) proposed a ban on menthol cigarettes and flavored cigars, and is also considering restrictions on flavored e-cigarettes and vape cartridges.
- In 2020, a major concern arose around the safety of vape cartridges after several deaths and illnesses linked to vaping were reported. As a result, some states introduced regulations requiring increased testing and labeling of vape cartridges.
Vape Cartridge Key Market Trends
- The legalization of cannabis for medical and recreational purposes in several countries and states has driven the demand for vape cartridges.
- The use of e-cigarettes as an alternative to traditional smoking is increasing due to the perception that they are less harmful than tobacco smoking.
- The development of new technologies, such as ceramic heating elements and glass cartridges, is driving the growth of the vape cartridge market.
- The availability of a wide range of flavors is attracting consumers to try different vape cartridges.
- Increasing competition: The vape cartridge market is highly competitive, with many companies launching new products to capture market share.
- The preferences of consumers are constantly changing, and companies must adapt to meet these changing demands by developing new products and flavors.
Vape Cartridge Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Vape Cartridge market is Growing interest in vape cartridges as an alternative to conventional tobacco is anticipated to be significantly influenced by growing concerns about cardiovascular disorders and an uptick in cancer deaths worldwide. In addition, increased access to a variety of flavor vape cartridge options through offline and online channels has been crucial in fostering the product's penetration among millennials over the coming few years. Due to their appealing design and benign nature, vape cartridges are becoming a more and more common practice among the millennial age. educating the public about the different research done by medical associations that show that e-cigarettes and vapes are safer than regular cigarettes. Strict government rules on the production of vape cartridges in nations like the United States and Germany are anticipated to have a detrimental effect on the industry's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.6 billion |
| Market size value in 2031 | USD 9.9 billion |
| Growth Rate | 20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vape Cartridge Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vape Cartridge Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vape Cartridge Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vape Cartridge Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vape Cartridge Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vape Cartridge Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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