Electronic cigarettes are designed to look like traditional cigarettes. However, they have detachable parts including a rechargeable battery and a disposable e-liquid cartridge. They include the hand-to-mouth action of smoking but no tobacco is burnt. Instead, it uses a heating element that vaporizes e-liquid automatically when you take a puff. E-cigarettes are an example of vaping devices. Other examples of these are vape pens and advanced personal vaporizers. They are very similar to e-cigarettes because a similar mechanism is employed to make them function.
Grand View Research conducted a study that showed the global e-cigarette and vape market being valued at $10,261.8 million USD in 2018. It goes further to state that the market is expected to grow at a rate of 24.9% (2019 to 2025). Awareness among the young population about the safety of e-cigarettes and vaping compared to traditional cigarettes has contributed to the growth of the market. Other research found that in 2018, the market was worth $11.26 billion USD and is projected to rise to $18.16 billion USD by 2024 at a growth rate of 8.28%.
Online retail and e-commerce have emerged as the most effective distribution channels for vaporizers and e-cigarettes. The more these channels grow, the more the general market is exposed to this product. Sales of vape products have increased and are set to further increase due to the increasing popularity of online platforms as a sales medium. Vendors use applications such as Instagram and Facebook to advertise and sell vaping devices. An excellent example of an online cannabis store is epuffer.co.uk.
Compared to traditional cigarettes, disposable models are reasonably affordable. Some come with cartridges that are pre-filled and rechargeable. The recharging capabilities help in reducing the number of times one needs to purchase a battery. These models are also considered better for long term use due to minimal health risks as it is smokeless and ashless. Vaping is considered effective for individuals trying to quit smoking. They also come in many flavours, so they are diverse and user-friendly. The cost-effectiveness of e-cigarettes and vaporizers makes them more marketable.
Europe is estimated to be both the most populous and fastest-growing region for the electronic cigarettes market in the world led by nations such as the UK, France, Russia, and Germany. The same also applies to vaping. According to the French Office for Smoking Prevention, e-cig shops in France are projected to be numbered at over 500 by 2020. Tobacco companies have started introducing these devices and have enabled major tobacco companies to flourish.
The adoption of e-cigarettes and vaping is expected to grow over the forecast period. The many benefits of using these devices and their increased popularity will continue to propel the industry in the coming years. Key industry players are continuing to invest billions of dollars in the research and development of new designs and models including custom-made vaping devices. This is all targeted at the growing market as well as revenue growth for the e-cigarette and vaping product companies.
With the current rise in the number of users and the constant flow of income, the electronic cigarette and vaping industry does not seem like it is going to fall any time soon. If the trend continues to make an impact in the fashion market, more and more youths will be quick to pick up the vaping habit.