Vape Cartridge Market Analysis and Growth Forecast by Regions, Type and Application to 2025
The global vape cartridge market is estimated to reach USD 2.2 billion, by 2025, and is projected to grow at a CAGR of 21.4% from 2019 to 2025. Increasing consumer preference towards vape products as an option to tobacco is mainly contributing to market growth. Vape products do not contain ash and tar that are highly present in traditional cigarettes. Consumer can customize nicotine content by varying the power output and airflow of vape cartridge. All these key features are anticipated to drive the demand for the product.
The glass cartridge is projected to grow at a CAGR of over 22.8% over the forecasted period. Consumers prefer glass-based product over plastic products. Glass vape allows to adjust the level of nicotine and smoke. These key benefits are anticipated to boost the product demand in the next few years.
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Main features of the report:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Vape Cartridge Market.
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Vape Cartridge Market.
Asia Pacific is projected to grow at the CAGR of over 26.2% during the forecasted period. High consumer spending on health products and high demand for the product from countries like Malaysia, South Korea, China, and Japan is boosting the vape cartridge market growth. Moreover, government policies regarding tobacco smoking are influencing the consumer to look for alternative options.
Major manufacturers in the market focus on strategic partnerships and mergers & acquisitions to enhance their reach across the globe. For instance, in 2019, CaniBrands have partnered with company called Sonder to expand its distribution network.
Further key findings from the report suggest:
- In 2018, the plastic segment attributed to revenue of 312.4 million. The glass segment is anticipated to exceed at a CAGR of around 22.8% over the forecasted period.
- Based on the distribution channel, online segment is expected to grow at the CAGR of over 24.7% during the forecasted period.
- North America led the market with revenue of 249.8 million in the year 2018.
Global Vape Cartridge Market: Key Players
HONEY, BRITE LABS, The Bloom Brand, Arbor Pacific Inc., Evolab; Airo Vapor, Orchid Essentials, and Cura CS.
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