Interesting Predictions for the E Cigarette Industry

Economists have found the increase in popularity of e cigs to be incredibly interesting, especially as these electronic devices have taken over a large percentage of market share from the big tobacco companies. With e cigarettes now competing with the tobacco industry and offering smokers an attractive alternative, the future of these devices looks promising. Several predictions have been made regarding e cigs, and we take a look at some of the most interesting ones here.
The Market Continues to Grow
Economists have all agreed that the e cigarette market looks set to continue to grow, and many have predicted that by 2018 it will become a $10 billion industry. For any market to have grown as much in under a decade is impressive, and it looks certain that the focus on product innovation will be at the forefront of keeping this industry on its upward trajectory.
Big Tobacco Companies Try to Compete
Many of the big tobacco companies have recognised that e cigarettes are a trend that’s here to stay and that the old adage of ‘if you can’t beat them, join them’ has come true. Increasingly, tobacco companies are creating their own e cigs and related products and are marketing them to vapers by relying on the strength of their existing brand name.
Regulations Won’t Slow Down Popularity
At present there are few regulations regarding vaping in public places, and although often ‘no smoking’ rules also apply to vapers, these devices are so much more socially acceptable than their tobacco counterparts. It’s predicted that even if strict regulations regarding where and when you can vape are brought in, e cigarette users won’t let this put them off, and the popularity of these devices will still continue to grow as they offer so many benefits when compared to tobacco.
Investment in Research and Development to Soar
As companies continue to innovate in an effort to provide a premium product, economists are certain that investment into the research and development of vaping systems will increase rapidly in the next few years. From studies into the long-term effects of vaping to the ways in which it can be adapted and enhanced, research into these devices is set to become more intensive.
Despite the e cig market being relatively young, it has evolved rapidly and economists are confident it will continue to do so in the foreseeable future.