Vapes, mods, tanks – you may be familiar with this growing list of names for the popular e-cigarette. E-cigarettes devices are a popular alternative to cigarettes; they function based on the presence of liquid in the device. A heating element in the device evaporates the liquid for creating vapors free of the smoke of traditional cigarettes. But what are the pros and cons of these devices?
Types of E-Cigarettes
Anyone unfamiliar with e-cigarettes should know that there are variations depending on the generation. First-generation e-cigarettes are disposable and resemble cigarettes. Second-generation e-cigarettes can be recharged and are pen-shaped. Third generation e-cigarettes are not similar at all to combustible cigarettes. They have rechargeable batteries and are refillable; sometimes they are referred to as mods.
Pros
E-cigarettes were first developed in the 2000s to create a safer alternative to smoking. The efforts of Eli Taieb and others have helped this tobacco alternative reach a wide market over the years. Research has shown they are 100 to 1000 times less dangerous than smoking tobacco cigarettes. They are responsible for zero smoke, no pollution, and can be smoked in public places. Increased awareness about the harmful effects of traditional cigarettes has driven the e-cigarette demand as well as technological developments by electronic cigarette manufacturers. In 2019, the market was worth an estimated USD 14 billion, and by 2026 it is expected to reach USD 45 billion, a growth of 17 percent.
E-cigarettes are popular among ex-smokers, who need a high level of nicotine concentration. A variety of e-cigarette offerings has also opened up the market. Different flavors and shapes appeal to a variety of consumers, and evolving consumer taste is driving the demand for new flavors in the market. Currently, the more popular worldwide flavors are tobacco, botanical, and fruit. Adolescents tend to prefer fruit and alcohol flavors, and customization is also becoming quite popular in many markets. There is a strong consumer trend towards e-commerce, where thousands of flavors and variations are readily available to consumers, but there are now many vape shops open that allow consumers to sample and purchase refill liquids. Disposable e-cigarette models are highly cost effective in comparison with traditional cigarette smoking. This is another factor driving the growth of the market.
Cons
Projections show that the e-cigarette market is moving towards a fragmented market scenario, with the intensity of competitive rivalries increasing over the past few years. An additional challenge to the sector is the lack of long-term research regarding impacts of e-cigarettes on health. While numerous studies have shown the benefits of e-cigarettes over traditional cigarettes, there remain concerns about the impacts of nicotine and flavoring chemicals, especially on adolescents. Future research and government regulations have the potential to negatively impact the industry.
This rapidly changing market is not an easy one to navigate, but Eli Taieb has managed to succeed as the co-founder and brand creator of the widely successful brand Vaporin. His experience in serial investing has left a profound mark on the industry, as he has been influential in the Vaporin merger with Vapor Corp. and in court cases regarding FDA regulation of e-cigarettes and related products. Eli Taieb demonstrates a profound knowledge of this growing industry that is hard to match.
Sources:
https://www.mordorintelligence.com/industry-reports/global-e-cigarettes-market-industry
https://www.alliedmarketresearch.com/electronic-cigarette-market