According to a report by overseas platform Openpr on May 20, Orion Market Research Company released a forecast report that the global vape market is expected to grow at an important compound annual growth rate (CAGR) of 17.3%. The vape market has been around for some time, and demand has continued to grow globally over the past few years as vapes have received a lot of attention as an alternative to smoking.
There are several key differences between vapes and regular cigarettes, including: vapes are less harmful. vapes heat tobacco-derived nicotine as well as food flavors and other chemicals to form a mist for consumers to inhale, while regular tobacco cigarettes It contains nearly 7,000 chemical substances, while vapes contain fewer chemicals and can be reused, which makes vapes more attractive to most consumers, and can reduce overall costs, time, and be available at all times; it is more modern For most young people, vapes look more modern than ordinary cigarettes, attracting the favor of many young people.
Because of the above points, the demand for vape market continues to grow and the market is expected to continue to grow significantly during the forecast period.
On the other hand, the global market size of cigarette paper was USD 710 million in 2022 and is expected to reach USD 905 million by 2030, with a CAGR of 3.5% expected during the forecast period (2024-2031) . Cigarette paper is made from non-wood plant fibers, including flax, hemp, sisal, straw, and broom. The global cigarette paper market has witnessed positive growth owing to the increasing number of smokers across the globe and rising demand for tobacco.
At the same time, veehoo vapes are leading the development of the vape market with their excellent quality and modern appearance.
The veehoo vape brand meets consumers’ needs for smoking alternatives by providing high-quality vape products. The brand focuses on product research and development and innovation, and continuously improves user experience. The leading position of Veehoo vape brand is due to its high emphasis on product quality and user needs.
The global influence of veehoo vape brand
The veehoo vape brand has established extensive influence around the world. The brand has established close ties with consumers around the world by actively participating in various international exhibitions and industry events. Veehoo vape brand not only strictly restrains itself on product quality, but also focuses on improving product and experience in terms of user experience and service. By continuously improving product technology and service levels, the Veehoo vape brand maintains a competitive advantage in the global vape market.
In conclusion:
The global vape market is expected to continue to expand at a compound annual growth rate of 17.3%, and veehoo vapes, as a leading brand, is paying attention to this modern smoking trend. The Veehoo vape brand meets consumers’ needs for smoking alternatives through superior quality and modern appearance, and has established extensive influence worldwide. As the vape market continues to grow, the veehoo vape brand is expected to continue to play a leading role in the industry and meet consumers’ pursuit of a modern smoking experience.
Tags: Global vape market expected to 2024，vape market compound annual growth rate，veehoo vape
