The global vaping market is projected to grow from $27.75 billion in 2024 to $33.16 billion in 2025 — and to nearly double by 2029, reaching $67 billion.
Analysts forecast a compound annual growth rate close to 20%, driven by surging demand, rapid innovation, and regulatory shifts favoUring harm reduction.
North America and Asia-Pacific remain the fastest-growing regions.
The U.S. alone is expected to generate over $9 billion in revenue this year, while markets such as China, Indonesia, and the Philippines are seeing a boom in manufacturing and local adoption.
Europe, meanwhile, is being shaped by sustainability-driven policies such as disposable vape bans, which are pushing consumers toward reusable products.
Key growth drivers include improvements in battery technology, the rise of e-commerce channels, and consumer interest in smoke-free alternatives like pouches and heated tobacco.
The expansion of digital sales is especially notable, as online platforms allow smaller brands to reach global audiences more efficiently.
For B2B players, the focus will be on balancing innovation with compliance. Sustainability and recycling schemes are becoming critical differentiators, while companies that fail to align with environmental goals may struggle to maintain credibility.
With regulators, investors, and consumers aligned on the trajectory toward reduced-risk products, the vaping sector looks poised not only for rapid financial growth but also for deeper integration into mainstream public health strategies.
