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Market Size Estimation and Data Triangulation Bottom-Up Approach The bottom-up approach involved aggregating segment-level data, such as: Company revenues Product-level sales Installed base/usage volumes Adoption and penetration rates Pricing analysis This method was primarily used when detailed micro-level market data were available

Almost all vape pens use lithium-ion batteries that have a high energy density

Charged is the most stimulating blend in the lineup

Smart vaping devices are also gaining popularity on social media platforms, with some videos featuring smart disposable vaping devices generating over 10 million views on youth-popular platforms such as TikTok (see Figure 3)

Age verification and identity checks