Should we switch from tobacco to e-cigarettes?
Published Date | 2018 September 12
Juul has rapidly overtaken U.S. e-cigarette market. Sales have skyrocketed nearly 800 percent, helping Juul capture a 71 percent of share of the market.United States: The Juul e-cigarettes sales are blooming and have surged almost 800 percent over the past years. These electronic cigarettes are so popular that people started describing it with verb like “Juuling”. The growth of Juul e-cigarettes is so spectacular that research firms can visualize their potential growth in the upcoming years. The E-Cigarettes market is dominated by the company called Juul Labs. Over the years how much it has dominated is seriously eye-popping. Many convenience stores have been spotted signs boasting that, they sell Juul devices and pods. These e-cigarettes are now so popular leaving behind the toughest competitor “British American Tobacco” that it has its own describing verb: "Juuling." Young crowd find these devices very happening and thus are extremely popular among them. These e-cigarettes are so sleek and handy that they can hide it from their parents and teachers. The pods are filled with liquefied nicotine and are available in different sweet flavours such as mango and crème brulee, which as per the critics is very appealing to younger people, but for the adult smokers, the company is trying to convince them to switch to these e-cigarettes from conventional cigarettes. Electronic cigarette is a device which is operated by battery that have particular amount of vaporized nicotine or solutions which are non-nicotine for the user. It focuses to offer alike sensation for inhaling the tobacco smoke, that too without any smoke. E-Cigarettes are mostly marketed as e-cigs, vape pens, e-cigarettes, vapourized cigarettes and electronic nicotine delivery systems. Various smokers opt to electronic cigarette as a way to stop or cut down on smoking. These e-cigarettes give consumers smoke and ash less vaping, thus it becomes socially acceptable. They are less harmful than the conventional cigarette, which causes lesser health issues as compared to tobacco smoking and therefore driving the market growth. Change in lifestyles, habits and preferences, and increase in disposable income of people is further considered as reasons to drive the market growth. Furthermore, these tobacco manufacturers are focusing on new advanced technological development, which has created a prominent importance for e-cigarette. To be ahead of the competitors, the e-cigarette manufacturers invest more and more in technologies for making their products better which can help them to sustain the competitive market. Therefore, growth in development and innovations of these vapour technology and electronic cigarette is projected to propel the growth of the market growth during the forecasted period. According to BlueWeave consulting, the e-cigarette market is likely to accelerate over the next ten years owing to growing inclination of younger generation towards the electronic cigarettes product. Further, in recent years the growing consumer awareness regarding environmental friendly product is surge which will positively impact the revenue turnover of the product. Low pollution and availability of various flavor of this cigarettes is one of the significant features driving the product growth. Thus consumer goods market will gain potential returns from e-cigarettes industry over the time frame.