In Europe, the revenue generation through vape business in the European e-cigarette market accounted for about $1.33 billion in 2016. But with the continuing rise in demand, this expected to grow at a double digit CAGR from 2016 to 2022.
Europe is at the forefront of the legal scenario when it comes to the global e-cigarette industry with its strings of laws and regulations for e-cigarette and e-liquid manufacturing, distribution, sales, promotion, and marketing. The demand for vaporizers in this part of the globe has been growing exponentially and Europe has been known to host some of the biggest brands of vaporizers including Pax 3 By Pax Labs, Stündenglass Gravity Hookah, Storz & Bickel Mighty, Dynavap Vapcap 2020 M and Storz & Bickel Volcano Hybrid among others.
During the pandemic the demand for vaporizers has seen a steady growth and the e-cigarette in Europe is estimated to see a CAGR of 12.98% during the 2020 ? 2025 forecast period. The continuing increase in demand of personal vaporizers will also significantly contribute to the growth of bottled e-liquid all through the forecast period. This is because the aftermarket for E-liquids is also tagged as among the dominant market contributor in terms of revenue generation through the forecast period.
The growing popularity of vaporizers has also led to the introduction of new flavors like menthol, mint, chocolate, cola and different fruits. With these in the market, it is attracting more and more potential customers to adapt them. This market trend is expected to continue and contribute to the vaporizer market. A lot of companies in the industry are also taking advantage of the current market environment and getting merged with the tobacco cigarette companies. These business entities are working in collaboration and making it more inexpensive and efficient. This is further expected to expand the growth of vaporizer market not only in Europe but across the globe.
Vape Shops have developed into an exponentially growing revenue generating distribution channel for vaporizers. The consistent vape customers has been relying on these shops for a wide selection of safe and approved products. However, a series of strict regulations continue to confront vape shop owners in several countries of Europe such as Spain and the Netherlands. Nevertheless, this did not hamper the market growth of vaporizers in Europe and other parts of the globe.
