How Much is the Vaping Industry Set to Grow in the Next 10 Years?
In the last couple of years, its seems like the vaping industry has exploded into our daily lives. From being a little-known device, the electronic cigarette has become a lifestyle choice for many and all over the world people are picking vaping as an alternative to smoking traditional tobacco cigarettes. But will it continue to grow or is it just a passing fad?
While the first electronic cigarette was created and patented all the way back in 1963, the modern devices used today were registered in 2003 before hitting the market a year later and they’ve been continuously developed since then. It might have taken a long time to get from the initial concept to today’s consumer products but once they launched the market grew rapidly. It’s estimated that around 10% of US adults now use electronic cigarettes – that’s 32 million vapers – and the figure is continuing to rise. It’s not just the US that has embraced the tech either, it’s becoming increasingly popular across the other parts of the world too.
More Than A Passing Craze
While the quick rise of a product is usually followed by a fall into obscurity, research suggests that won’t be the case for electronic cigarettes. In fact, it’s popularity is predicted to grow even further as more people choose to use it as their delivery method for nicotine or to simply vape flavors that have zero nicotine content.
Based on historical figures and projections, one one study indicated that the global e-cigarette and vaporizer market will grow by around 21% in the next decade.
It’s clear that vaping is a trend that won’t be disappearing anytime soon. While vaping is set to continue its rise, what’s driving its success and popularity?
There’s more than one factor driving the vaping trend and the reasons affect many different demographics, reflecting the widespread use of e-cigarettes across a range of people.
Supporting smokers with quitting – While the debate over the health effects of e-cigarettes rages on, there’s a general consensus that vaping can help smokers cut down their consumption of nicotine and eventually quit. While other chemicals found in cigarettes can be harmful, it’s the nicotine that’s addictive and
. In fact, some research indicates that it could be so effective at helping traditional smokers give up for good, that some public health services are backing the method, including the UK’s NHS.
Freedom to choose amount of nicotine – The ability to choose how much nicotine is present in e-liquids, and even the ability to have zero nicotine, is one of the reasons e-cigarette popularity is growing. It’s particularly beneficial for those that are wanting to cut back or reduce their nicotine consumption as it’s simple to monitor and they’re given complete freedom.
The flavor options – While traditional cigarettes came in one flavor option – tobacco – vaping has a whole range for people to choose from. For those that don’t like the taste of tobacco, it means they’re frequently opting for e-cigs flavors that they will enjoy. Even for tobacco lovers, vaping gives them access to far more choice. Blends of tobacco can offer entirely new flavors, from those that are earthy, smooth and subtly nutty like our Kentucky blend to our smooth and sweet Burley offering.
It’s price competitive – Even when vapers choose premium cigarettes and e-liquids, it’s generally considerably cheaper than traditional cigarettes. While the initial cost to purchase a vaping kit is more than a pack of cigarettes, over time vapers that would have smoked conventional cigs more than make their money back. It makes vaping an attractive option for those that already smoke.
The vaping culture – There’s no denying that vaping has somewhat become its own culture. And that means more people are likely to join the trend as its popularity continues. Those picking up an e-cigarette for the first time are likely to choose different products to those that are already smokers, often choosing zero nicotine and flavored options to begin with.