A Noticeably Cooler Mood on the Show Floor
As TPE 2026 (Total Product Expo) gets underway, one thing is hard to ignore: the mood around the vape category feels noticeably subdued.
Several Chinese manufacturers and US distributors describe this year’s event as quieter—not necessarily in terms of attendance, but in terms of energy and momentum. Compared with previous editions, there’s less urgency, fewer strong buying signals, and a general sense that the market is pausing rather than pushing forward.
For many companies, attending TPE is no longer just about showing up. After months of signals pointing to slowing demand and rising inventory levels in the US, this show has become a checkpoint:
Is the market recovering? Are distributors ready to move again? Is there any sign of a rebound?
Based on what most exhibitors are seeing, the answers—at least for now—lean toward caution.
Fewer New Products, Even Fewer Orders
If there’s one clear shift this year, it’s this: fewer standout new products, and even fewer deals being closed.
That doesn’t mean conversations aren’t happening. Distributors are still visiting booths, trying products, and exchanging information. Feedback like “nice” or “interesting” comes up often—but rarely goes further than that.
A screenshot of a 270-degree video panorama captured on the floor of the TPE 2026 trade show, displaying the vape booths of brands such as Fifty Bar and SKE.
When discussions turn to actual orders or restocking, momentum tends to stall.
One phrase keeps coming up in conversations: “Keep us updated.”
In practice, most exhibitors interpret this as a polite way of saying: we’re not ready to commit yet.
For many brands, the real challenge at TPE 2026 isn’t getting attention—it’s converting that attention into orders.
What’s Driving the Caution?
1. Inventory Pressure Remains High
The most immediate issue is simple: distributors are still holding stock.
One brand owner shared that a product launched in August 2025 performed well initially, but by December, orders suddenly stopped. Today, an estimated 200,000 to 300,000 units remain in distributor inventory, out of roughly 1 million units sold in 2025.
This isn’t an isolated case. Across the board, wholesalers appear reluctant to take on new inventory until existing stock is cleared.
2. Regulatory and Enforcement Concerns
Regulation continues to shape behavior—both openly and behind the scenes.
Several exhibitors noted a more restrained presence this year: smaller booths, less aggressive marketing, and fewer public-facing promotions. Conversations themselves also feel more cautious.
There’s an undercurrent of concern about enforcement and compliance risks, which is making some market participants more conservative in both messaging and deal-making.
Interestingly, some attendees mentioned that CHAMPS Trade Show, scheduled for May, might feel more active—partly because of its closed, invitation-only format.
3. Nicotine Pouches Are Gaining Ground
Another factor that comes up repeatedly is competition from nicotine pouches.
From a distributor’s perspective, the appeal is straightforward:
- Lower retail price (often just a few dollars per can)
- Comparable usage duration to disposable vapes
- Fewer regulatory complications in some cases
By comparison, a typical disposable vape retails for $15–$20 and lasts about a week. That price gap is increasingly hard to ignore, especially in a more cautious market environment.
Some distributors now see pouches not just as a complementary category—but as a direct competitor for the same consumer base.
More Confirmation Than Turning Point
For many Chinese manufacturers and global brands, TPE 2026 was an opportunity to test whether the US vape market had started to shift.
So far, the consensus is clear: not yet.
The show still serves its purpose—maintaining relationships, sharing updates, and reading the market. But in the vape segment, there are few signs of a strong rebound. Traffic is uneven, order intent is weak, and caution remains the dominant tone.
That doesn’t mean the market has stalled entirely. But if companies were hoping for a clear turning point, TPE 2026 feels more like a reality check.
At least for now, the US vape market remains in a wait-and-see phase.
Related Reading: 2026 US E-Cigarette Market