Vape Cartridge Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global vape cartridge market size was accounted for USD 571.1 million, in 2018. It is projected to grow at a significant CAGR from 2019 to 2025. Growing incidences of deaths due to cancer and cardiovascular diseases are projected to propel the demand for vape cartridges. Moreover, growing awareness especially among younger adults and the availability of a variety of flavors is gaining traction among the younger population.  

Vape cartridge helps in controlling the dosage of nicotine. Companies also offer nicotine and nicotine-free e-juices. Consumers can choose accurate nicotine content for vape. A vape cartridge also helps in controlling the amount of vapor to be exhaled.

Manufacturers are developing products such as low-powered pod vapes. however, mods with high power are suitable for cloud chasing. Vapor volumes are adjusted by varying the power output, coil type, and airflow. Furthermore, customization in the product is also contributing to market growth. 

The growing trend of smoking vape among young adults owing to its attractive look is boosting product demand. In addition, various medical associations have said that e-cigarette and vape are safer than regular cigarettes. However, stringent government policies in countries such as Germany and U.S. are expected to hinder the market growth. 

Product Insights

Depending on the product type the vape cartridge market is bifurcated into plastic, glass, and metal. The plastic segment accounted for the largest revenue of USD 312.4 million in 2018. The plastic-based cartridge is available in all hypermarkets and convenience stores. Plastic cartridges capacity ranges between 0.5 ml to 1ml. Moreover, a large chunk of middle age group in countries such as Japan, Brazil, and Mexico prefer smoking cartridges over this type of product. 

The glass product segment is projected to grow at the highest CAGR of 22.8% over the forecasted period. Glass based cartridge keeps the flavor and test of vape unchanged. This cartridge has different flavors and it does not contaminate the liquid by materials such as terpene leaching and burnt coils. It also helps in maintaining the viscosity of the liquid. Moreover, increasing consumer inclination towards premium products is anticipated to boost the demand for the product in the next few years. 

Distribution Channel Insights

The offline channel segment attributed to revenue of USD 447.9 million in 2018. The shops or sellers provide testing of devices and e-liquid before purchasing them. Due to this, consumers get to know the authenticity of the product and get to choose from various brands. Moreover, it is observed that middle-class groups prefer to buy the product of domestic brands from local shops.

The online channel is projected to grow at the fastest CAGR of around 24.7% during the forecasted period. Convenience, free shipping, cashback offers, and easy returns are some key factors, gaining traction among consumers. Increasing consumer engagement through marketing campaigns by YouTube, Facebook is anticipated to positively impact the market growth. 

Regional Insights

In 2018, North America held the largest market share of over 43.7% in the overall market. Youngsters prefer e-cigarettes and vape cartridges over tobacco products. Furthermore, it is found that, one in every five smokers in the U.S. smoke vape cartridges and pens along with tobacco. According to the survey by National youth tobacco, consumption of e-cigarettes among students is increased by 1.5 million in 2018. The introduction of various flavors and vape liquids is expected to boost the market.

Asia Pacific is anticipated to grow at the highest CAGR of 26.2% over the forecasted period. The increasing smokers’ population in countries like Malaysia, Japan, the Philippines, and China is supporting the demand for the product. In 2017, it is found that over 13 million Chinese people use vape products. 

Vape Cartridge Market Share Insights

Leading players in the market include HONEY; BRITE LABS; The Bloom Brand; Arbor Pacific Inc.; Evolab; Airo Vapor; Orchid Essentials; Cura CS; Eel River Family Farm; and Loudpack. Top players in the market are focusing on strategies such as mergers and acquisitions to expand their product portfolio and to gain traction among consumers. For instance, in 2019, Curaleaf acquired Select, a renowned cannabis wholesaler brand, to expand its product line. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global vape cartridge market report based on product, distribution channel, and region: 

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Plastic
    • Glass
    • Metal

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • South Africa