The E-Cig Market Growth
Stakeholders in the smoking industry are wary of the rising popularity of electronic-cigarettes. The buzz in this sector is being fuelled by the huge volume of sales being generated by the industry annually. In less than five years, the sector has managed to explode with inventive segmentation and new innovation for these devices.
Despite the lack of regulation in the Australian e-cigarette market, it has been an explosion past the ordinary nicotine replacement therapy. Today, it’s more of vaping via tanks, mods, and flavored liquids. However, the growth of the industry has not been without critics. Many of them have made efforts to keep the sector under check in the absence of defined regulations. What seems inevitable however is the potential explosion of the industry, despite the yearning to clamp it down.
Capitalizing On the Vaping Dollars
Analysts closely following this industry say there could be more than meets the eye here. The industry is set to generate over $10 billion in the next four years. This compared to big tobacco sales, is a small percentage. The only worry for the conventional tobacco sector is the promising trend, which shows the Australian e-cigarette industry outgrowing the 100 million mark, meaning disaster for the latter. Players in the big tobacco landscape view this as a huge threat. The consequences have seen tobacco firms taking up the manufacture of e-cig models to either capitalize on the vaping dollars, or as a venture to test the waters.
Profitability of the E-Cig Sector
The trend is now moving to these firms making their own devices with their future being uncertain. Notably, these firms have managed to capture significant market percentages according to statistics. More firms are also suspected to be planning ventures to plunge into the e-cig arena. The overall implication here despite the nature of the manufacturers means that the sector is expanding. These firms have indicated their intention to snatch the e-cig empire from the hands of private cigar makers. But the larger picture still points to the profitability of the e-cig sector.
Stop Smoking Objective
The growth of the e-cig industry in the middle of trending acquisitions means that the objective is all about getting more people to stop smoking, through these helpful gadgets. Some factions in the e-cig debate have opposed the use of the “cigarette” name, saying that it is likely to keep smokers around the habit. Even though the switch to these gadgets is the best way forward, the popularity and growth is liable to stigmatization. New devices that have emerged with new names such as mods, or vape pens, have not been spared even though they claim to offer a better experience, and a reduced likelihood for nicotine addiction.
Heralding a New World
But from the onset, novel e-cig contraptions have sought to bring in a better outlook that the conventional e-cig cannot offer. This has introduced the vaping bar concept, where people with the same cause congregated to share experiences. Vaping lifestyle has become more of an ingrained culture in the minds of persons looking to quit the tobacco habit. With the trend heading out, the future looks promising. New nicotine devices are offering more than the average e-cig, and may herald a new world of vaping and tobacco free puffing.