Worldwide Revenue in the E-Cigarette Market

The US is the world’s biggest vaping market. Vaping products account for somewhere between 5-10 percent of the tobacco market (excluding sales from smaller outlets noted above) and for about 70 per cent of the global market in new pod mod systems.

The share of the vaping market owned by tobacco companies remains small. Tobacco companies are estimated to have less than 20 percent market share of the global vaping market. In France, Italy, Germany and most other markets it is less than 10 per cent; in the USA and Russia it is around 20 percent, and estimated to be highest in the UK (33 percent) and Poland at around 50 percent. In China, it is zero percent. Japan dominates the market in heated tobacco products with smaller but growing markets in over 50 other countries.

In the light of a more adversarial atmosphere in the US towards vaping products and eager not to endure a Kodak moment, all the major tobacco companies have now brought non-tobacco nicotine products to market.

Most market estimates predict continued growth but there are concerns about the impact of misinformation about teen vaping, scares about vaping-related lung injury and deaths, COVID-19 and the increasingly belligerent attitude towards safer nicotine products among legislators.

See also p.46 of the report: Burning Issues: The Global State of Tobacco Harm Reduction 2020