In recent years, vaping has become increasingly popular among teens. In fact, it is now the most popular form of tobacco use among the youth in the US. Manufacturers worldwide are marketing vapes or e-cigarettes as devices for quitting or cutting down on smoking.
So what is an e-cigarette? Well, it has several other names, like vaporizer cigarettes, vapes, electronic cigarettes, & vape pens, among others, which basically are battery-powered devices that comprise three main components, a heating coil, a battery, & an e-liquid cartridge. These devices are considered less toxic than conventional cigarettes and deliver vaporized nicotine or flavored dosages to users.
The world is witnessing an ever-increasing urge of consumers to quit smoking tobacco, backed by their rising health consciousness. A large number of smokers think of e-cigarettes as a less harmful alternative to traditional ones as they have no smoke or pollution, and one can smoke them in public areas.
Consequently, vaping is now a popular culture across different corners of the world as more & more people, especially among the young generation & adolescents, become aware of the harmful effects of conventional tobacco-based cigarettes, owing to which a recent research study has revealed that the Global E-cigarettes Market is set to record around 3.3% CAGR during 2023-28. Some recent developments in the industry are as follows:
Apart from this, several small companies that deal in vaping products & e-liquids are actively working on developing a sizable consumer base by adopting effective marketing strategies. Moreover, they are typically outsourcing e-cigarette production to China in order to keep product prices low.
North America as the Leading E-Cigarette Industry
The surging use of vaping devices as a safer alternative to cigarettes, especially by the young generation, coupled with the availability of a variety of flavors in the US and the extensive presence of leading tobacco companies, are stimulating the growth of the e-cigarette industry across North America. A large number of people in the region are increasingly adopting nicotine-free e-liquids since they generate smoother vapes than other variants and think of e-cigarettes as a fashion appeal.
Canada has recently implemented TVPA (Tobacco and Vaping Products Act) to enhance the accessibility of e-cigarettes to adults and shift their focus from traditional tobacco products in order to curb the sales of vapes & tobacco products to minors. More & more vape shops are being established, and online retail is booming in the US & Canada, i.e., generating profitable prospects for the leading industry players operating in North America.
Several vendors in the US are choosing online channels over retail stores on account of benefits like competitive pricing, convenience, and a greater variety of products available on e-commerce platforms as well as strict government norms for e-cigarette sale & distribution across the country. Numerous companies are also adopting social media platforms to advertise & sell vapes & electronic smoking devices effectively.
With growing awareness among people of the health hazards associated with tobacco smoking, rechargeable e-cigarettes are gaining traction worldwide and witnessing a rapidly increasing demand, owing mainly to their higher cost-effectiveness & flexibility than their single-use counterparts. Online retailers are also creating profitable prospects for manufacturers in terms of security & reliability and, in turn, spurring growth in the market.
In addition, flavor & fragrance vendors are introducing a wide variety of e-liquids to cater to the ever-growing consumer demand for e-cigarette devices. Menthol, mint, chocolate, cola, & bubble gum flavors, and fusions of other fruits & flavoring substances are luring many people worldwide to adopt electronic cigarettes.
Furthermore, the growing acceptance of pod systems & squonk mods, notably surging sales of atomizers & e-liquids, the increasing number of vape shops where users can visit & try different e-liquid flavors before buying, as well as the mounting popularity of tank variants of electronic cigarettes, especially in the UK, are set to create lucrative prospects for the e-cigarette industry in the years to come.