What are E-Cigarettes and are They Doing Well On The Market?
Cigarette smoking has been a favorite pastime for many people and today the industry is booming as a result. Since the introduction of some of the best electronic cigarette brands, the industry has seen an explosion in sales of the products. So far, key players in the industry have done at least one electronic cigarette review to determine the rate at which e-cigs are growing in popularity among consumers.
What is an electronic cigarette?
An electronic cigarette is battery operated and which produces vapor or a substance resembling smoke. It functions by depending on an element to propel heat to it known as atomizer. The atomizer in turn vaporizes a liquid chemical by the name of e-liquid, which is made up of flavorings, nicotine, vegetable glycerin and propylene glycol.
Are there different brands e-cigs on the market?
Since e-cigs entered the market, manufacturers developed an array of different brands that they hope would compete on the market against traditional tobacco. Some best electronic cigarette brands are V2 Cigs, Vapor Fi, Halo Cigs, Apollo E-Cigs, Green Smoke, 777 E-Cigs, Revolver E-Cigs and South Beach Smoke. Since recently, Altria started campaigning and selling its new MarkTen brand in the US. Other best e-cigarette brands are expected to be on the market in the near future.
Are e-cigs doing well on the market?
Traditional tobacco has been around much longer than e-cigs; however, since the introduction of the product, many traditional tobacco smokers after conducting their own electronic cigarette review on the product have switched over to smoking e-cigarettes for a number of reasons.
One reason why many smokers are turning away from tobacco and picking up e-cigarette smoking is the lower health risk that e-cigs provide for them. A smoker that is smoking tobacco can get heart attack, high blood pressure, lung cancer and other cancer related diseases as well as pick up other chronic illnesses because of the effects of tobacco smoking. With e-cigs, the risk of getting sick is much lower.
Another reason why persons switch to e-cigarettes is that they pay a lower price for a pack. Legislators and certain state authorities push the tax up on tobacco with the hope that smokers will switch and start smoking e-cigs instead. Since they cannot get persons to quit the habit of smoking, they instead concentrate their efforts on getting them to quit tobacco altogether and start smoking e-cig products.
It is reported that a consumer saves up to 50% when he or she smokes e-cigs and not tobacco. The cost of an electronic cigarette ranges from between US$5 to US$15, depending of course on which brand one is using. Therefore, to smoke e-cigarettes for an entire month, one will pay about over US$200.
According to Fortune writer Phil Wahba, sales in the e-cig industry is expected to accelerate almost some 25% annually. This is because many smokers are giving the boot to traditional tobacco and instead giving the thumbs up to e-cigarettes. Since many smokers are switching sides as well as beginner smokers are getting in on e-cig smoking, many smoke shops are concentrating on selling more of the e-products. In addition, many new smoke shops are opening all over the world. The phrase “move over tobacco” is one that is used by many consumers today.
E-cigarette sales in the US alone are about 1.5 billion and worldwide the industry is worth about $3 billion. By 2018, sales are expected to climb by 24.2%. This is great news for many e-cig sellers like Big Tobacco and others that are opening new distribution centers. Tobacco sales are now on the decline and this is because mainly of the awareness campaign health workers are launching worldwide to warn smokers of the dangers of tobacco smoking.
Minors smoking e-cigs
Although it is illegal for minors to smoke, underage high school students are turning to e-cigs to give them that illusion of living in a different world. This huge explosion in sales is pushing e-cigs closer and closer to being on par with traditional tobacco manufacturers and even outdoing them in sales.
The National Youth Tobacco Survey says over 263,000 high school students in 2013 already are smoking e-cigs. Since 2014, the amounts of youths that get addicted to e-cigs are climbing steadily. Between the times of 2011 to 2012, the amount of middle school students smoking e-cigs climbed from 0.6% to 1.1% and in the category of high school students, the rate moved from 1.5% to 2.8%.
Students, who are buying and smoking the product, cause sellers selling e-cigs profits to soar, even into the millions of dollars. As the numbers of students grow into the millions in the coming years, so will e-cigs sales triple over into the billions.
So concerned are the Food and Drug Administration (FDA) and the World Health Organization (WHO) that they are both calling for stricter rules to try to stop minors from getting their hands on the products. Some health experts are saying that if something is not done to stop minors from smoking e-cigs as well as tobacco; they stand the chance of losing a whole generation to cigarette related illnesses. In addition, they and other concerned organizations are saying that minors smoking e-cigs stands a good chance of getting addicted to nicotine for the rest of their lives. To make matters worse, while tobacco carries warning labels not to sell to minors, e-cigs carries none.
With so many students getting in on the e-cig rush, sales are expected to jump to new heights. As the e-cigs market explodes, the business sector can expect to see new merges and acquisitions taking place in the industry.
E-cigs are strong alternatives to tobacco and carries less risk. In the future, this battery-operated industry will soar to new heights and even pose a bigger threat to traditional tobacco.
To sum up, the best e-cigarette brands will continue making a splash in the financial market and consumers and key players alike can follow the demand and supply curves by doing an electronic cigarette review to see if their best e-cigarette brands are doing well. So therefore, move over tobacco and give way to e-cigarettes.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.