Vape Market to Generate the Largest Part of Its Revenue from North America till 2021

North America was the largest region of the global vapor products market, accounting for a market share of 44.27%. The global vapor products market generated the largest part of its revenue from North America. In 2015, North America recorded vapor products revenue worth $3.71 billion. Also, North America will continue to dominate the global vapor products market and is likely to account for a market share of 47.45% in 2021 due to the tremendous popularity of VTMs and low cost of vaping devices in the vapor products market during the forecast period. Also, one of the major influencing factors propelling the market growth in the region is increasing availability of vapor products in vape shops and over the Internet. The key countries contributing the major market share are

Vape Market in US

The US accounts for the largest share of the vapor products market in North America. It is the world’s largest market for vapor products with increasing end-user base and massive revenue. VTMs has become one of the big businesses in the US and because of the opening of vape shops throughout the country, the growth of the vapor products market in the US is expected to witness a massive growth in 2016 and afterwards.
The market has witnessed a high demand for vapor products due to its wide adult smoking population. Approximately 28% of the US population is classified as active smokers. However, a huge portion of them indicated in various surveys conducted in the past that they would like to switch to other nicotine alternatives.

Vape Market in Canada

In 2007, disposable e-cigarettes were introduced in Canada. In 2009, Health Canada, the federal department of the government of Canada, banned the sale of vapor products containing nicotine. Vapor products sold without nicotine and that do not make any health claims can be sold legally in the country. However, nicotine loaded vapor products and those claiming health benefits fall under the jurisdiction of the Food and Drugs Act under which authorization from Health Canada is required by vendors to introduce a new product in the market. The market in Canada is booming because of growing popularity of flavoured e-juices among the young population. In 2015, the market witnessed an increased demand for vapor products. The increased demand of different flavoured e-juices and popularity of VTMs in vape shops are adding into the growth of the vape market in Canada region.

The report which consists of 124 pages of information along with 14 Key Sections and 67 exhibits gives a detailed analysis of the market size and forecast of different regions such as North America, APAC, Europe and Rest of the World. It also includes the market analysis of some key countries such as the US, Canada, UK, Poland, Germany, Italy, Spain, Russia, Malaysia, China, Chile, Peru, Egypt, South Africa, Nigeria, and Algeria.

For more information, View the abstract and table of contents

http://www.beigemarketintelligence.com/reports/research-report-consumer-and-retail-market/vape-ecigarette-vaporizer-market-research-report/

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