The Growth Of The Vaping Industry
Back in 2003, when e cigs were released in China by a pharmacist, e cigs were a whisper on the grapevine; an idea so high-tech and futuristic as to seem like fantasy fiction to the world at large. That was ten years ago. In a decade, the industry of making and selling electronic cigarettes and e-liquids has grown substantially; exponentially, in fact. Each year the market triples; more and more people make the switch to vaping as an alternative to smoking.
Growth and Gains
The enlargement of their market share in competition with cigarettes means e cig companies are making millions of dollars. Some companies are now trading publicly. The industry has become important to many sectors of the population: to business owners starting up new vaping shops, e-liquid companies releasing new lines, employees of these business people, shipping companies (air, sea, and land). Smoke shops are seeing their products change shape as they bring in more of these devices to cater to a diverse market of traditional smokers and non-traditional vapers.
Individual business people not only find themselves making a living, but even expanding; growing to the point where they need to move to bigger premises or open multiple stores.
E cig manufacturers and designers are also growing in the professional sense that they are learning more about how to make e cigs so they will be more efficient. Batteries become smaller or stay the same size but put out more power than before. Consumers can now choose to vape using eGos with digital screens and batteries that can adjust voltage and wattage or connect to software. Each e cig is a tiny computer.
A few years ago you would still have seen three-piece cigalikes on the market quite a lot. Now it is the rare dinosaur that continues to sell three-piece cigalikes with a battery, atomizer, and cartridge. Virtually every small e cig is built with a battery and an atomized cartridge.
As for the companies involved in this business, their numbers continue to climb. One might wonder how the industry can support so many, and those numbers will have to equalize at some point. Certain companies will lose their footing owing to overpriced, uninteresting, or technically inferior goods. The rest will provide balance so the price of e cigs does not get out of hand again the way it did before there was all of this competition, to bring some common sense to the market and give consumers so much choice.
Growth for the Vaping Industry
That is the past and the present: what about the future for vapers and vaping companies? Will it continue to be rosy in 2015 and beyond? A lot of that will have to do with what the FDA stipulates. Most pundits are confident that e cigs will not disappear, but the array of businesses still operating by the middle of 2015 could be smaller.
Businesses that are already huge (International Vapor Group, V2 Cigs, BluCig, and Green Smoke) and moderate-sized companies (Volcano, Halo) will probably survive, though with certain adjustments. V2 Cigs, BluCig, and Green Smoke are all backed by or allied with tobacco companies which provide them with financial safety. Other businesses like Vapor4Life, Smokeless Image, 777, and White Cloud might struggle unless they are bought by big firms as well.
But whenever a new and exciting idea gets so big that corporations cannot deny its importance, those corporations come along to snap up little businesses, or they try. There is a good chance that growth will cause the demise of many independent e cig businesses, though the industry as a whole looks like it could continue to grow, with some experts speculating it could overtake the tobacco cigarette industry within the next decade.