While billions of cigarette smokers across the world are finding ways to quit smoking, the e-cigarette or an e-vaping device is being aggressively promoted as the glamorous alternative. These empower consumers by giving them the freedom to vape in places where tobacco is banned and relish the smoking experience without fearing long-term health consequences. With thousands of flavors in their portfolios, top e-cigarette manufacturers are set to disrupt the conventional ‘cancer stick’ business with functionally sound vaping devices. However, there are challenges along the way:
Major roadblocks : Grappling with vaping rules
There is no consensus on whether vaping devices aid in the anti-smoking effort. Aside from the proven use of less than desirable ingredients, as revealed by several independent authorities, the e-cigarette industry is also facing a tremendous roadblock in the US market after the FDA regulations banned the sales of e-cigarettes to individuals under 18 years of age and has severely restricted the sale of these products without proper approval from the authority.
According to a US National Youth Tobacco Survey, the use of e-cigarettes has been significantly growing among middle and high school students. At a young age, the nicotine present in the e-cigarettes can majorly affect brain development and encourage addiction, leading to sustained tobacco use among these end-users.
The constraints are not limited to this; there have been several reported incidents of exploding e-cigarettes that have caused severe injuries to consumers. In April 2016, a California native lost his vision when the e-cigarette he was smoking exploded.
Innovation can light the way for the e-cigarette industry
Though there have been several negative points raised by authorities and consumers, the surveys on the adoption of the e-cigarette have been very encouraging. The consumption of electric cigarettes has been growing at an unprecedented pace, as they are promoted as relatively safer than the conventional tobacco cigarettes.
In order to comply with the laws in various countries that allow the sales of only nicotine-free e-cigarettes, manufacturers such as Joyetech, a China-based e-cigarette vendor, have introduced nicotine-free e-cigarette to regain the market share in those regions. This innovation has undeniably fueled the massive growth of the global e-cigarette market.
With the mounting taxes levied on traditional tobacco cigarettes increasing its price, the e-cigarette is gaining tremendous appeal as it is a more economical alternative. Traditionally, price hikes have worked in the vendor’s favor as the conventional cigarette’s addictive properties ensure that there are always buyers. In such a scenario, the e-cigarette industry offers a promising alternative, in terms of costs and long-term health value.
Unlock new opportunities with market insights
Finally, it is important to understand why the e-cigarette phenomenon is important and what factors influence the industry positively or negatively. Extensive research carried out by the market research experts at Technavio have revealed that the global e-cigarette market will witness significant growth and will post an impressive CAGR over the next five years. The associated market research report will offer a more detailed outlook and can be sampled for free via the links provided herein.