Rising trend to quit smoking may boost the e-cigarette market
Electronic cigarettes were brought to the market in 2004 by Chinese entrepreneurs. Electronic cigarettes are getting popularity around the globe as a substitute to conventional tobacco-filled cigarettes. These are battery-operated tools consisting of liquid nicotine that is dissolved in a propylene glycol and water solution. They heat the liquid enclosing some particular flavor into a vapor that is inhaled by the user. Owing to the electronic cigarettes’ flawless design and their disassociation with the smoke produced by the traditional cigarettes, these are deemed to be less injurious to health. Several market players are trying out with the design of their products to advance their sales.
The rising alertness regarding health, the rising number of vape stores, ash & smoke-less vaping, social acceptability, and the improvement in electronic device technology are few of the factors fueling the market growth. Besides, the altering lifestyle, several acquisitions & mergers between e-cigarette providers, and e-commerce are few trend witnessed in the e-cigarette market globally. Further, the inclination to next-generation tobacco products from traditional tobacco and the rising trend of giving up tobacco cigarettes are few other major trends seen in the market. The new competitors in the market are also providing novel e-cigarette tools that are attracting smokers to use such tobacco substitutes.
With the rising acceptance of e-cigarettes, vendors of fragrance and flavor are developing a huge range of flavors to lure the manufacturers of e-cigarette. Diverse flavors such as mint, chocolate, menthol, bubble gum, cola, and a mixture of other fruits and flavoring compounds are attracting a huge number of customers who are using an e-cigarette. This trend is projected to persist and in turn, drive the growth of e-cigarette market globally.
The few factors that can hamper the growth of the worldwide e-cigarette market include the implementation of the stringent legal framework, the rising lobbying by pharmaceutical industries, and the risk of e-cigarette usage and reported events. Apart from this, the hefty tax imposition by the local and state government on the e-cigarettes can further impede the growth of the market.