According to Ejuice Connect, a vaping site, there were only 7 million active vapers in 2011. Today, the number is standing at 40 million. In 2021, the vaping population is expected to be 55 million. This shows that the industry is fast growing. Not only is it experiencing more vapers but it’s also growing financially.
In 2011, the vaping market was a $4.2 billion economy. Currently, its status is $16.3 billion. Ejuice Connect sees the margins rising to $32.1 billion by 2021.
But what is making this industry to grow this fast? These are the findings by Ejuice Connect:
- Young Entrepreneurs Are ‘Hungry’ for the Market
Whether it’s the e-cigarette owners, company administrators or online retailers, they are mostly young people. They are the real drivers of the vaping industry. They take time to study the market and provide solutions that the young consumers (who are the majority) can relate to. They know how to entice the young vapers online. For example, they are good at using social media as a marketing tool. The platform guarantees them more followers who they are able to turn into customers.
- The Need to Quit Smoking
According to Ejuice Connect, 49% of vapers switched from smoking to vaping because of the need to quit smoking. Smoking is known to cause different types of cancer. However, the risks are reduced when it comes to vaping. A recent study by Cancer Research seems to agree with this finding. It shows that the e-juice that you vape has reduced toxins and their effects are not as cancerous as those of traditional tobacco.
- Online Stores Have a Role to Play
The internet has made it easy for retailers to sell more. There are more online stores than the physical outlets for e-cigarettes and other vaping products. Most entrepreneurs have more than two online stores selling the same or similar vaping products. For instance, many vapers have found that couponcause.com has the latest Ejuice Connect coupon codes. The coupons encourage the consumers to shop more at cheaper prices.
The other interesting bit is the vaping products. From the vaping devices to the e-juices, there are so many options. For example, customers nowadays are able to vape different e-juice flavors such as menthol, fruit taste, vanilla, and cream. There are also portable gadgets options such as vape pens and desktop designs that are great for communal use. So, customers are able to choose the vaping products that suit their needs.
- The American Vaping Market is Growing
The American market leads the Asian and European vaping industries by a considerable margin. This is according to a recent research by Bloomberg. Of late, the market has been booming. This is exciting for the global community since an improved American market translates to an improved global economy. Ejuice Connect argues that the US is influencing the rest of the world, and soon, we will see the numbers rising in other countries.
- Countries Abroad Are Changing their Positions
Many countries are warming up to the idea of allowing their citizens to vape as a way to combat tobacco smoking. Most of these countries had very strict policies pertaining to vaping with some even advocating for imprisonment and heavy fines. They include New Zealand, Scotland, and Canada. They all agree now that vaping is safer than smoking. Ejuice Connect predicts that the other countries that are still holding back will swing with the tide and legalize vaping soon.
The findings by Ejuice Connect are suggestive that the industry is shaping up the right way. We can only expect the vaping industry to experience a market boom that it has never experienced before. At least for those who have been yearning to quit smoking, they have a great option in e-cigarettes.