The Vaporizers and E Liquids industry had grown at a very fast rate in the past year or so. This growth has been helped tremendously by the inclusion of flavors from the popular digital cigarette companies. New flavors like fruit, chocolate, ice cream, and others have been pushed to Vaporizers by the more prominent tobacco companies that have included these flavors as bonuses for purchasing their products. The Vaporizers and E-Liquids industry is now booming with sales increasing each and every month. These vaporizing devices help many people quit smoking by giving them the nicotine boost that they need in a convenient electronic format.
The Vaporizers and E-Liquids are becoming increasingly commonplace in public places such as restaurants, bars, and lounges. With their popularity increasing the Vaporizers and E Liquids are being included in more sporting events. Games such as Sonic Guitar and other music concerts are now being held with these refillable cartridges that are easily taken with an empty cartridge from your favorite E-Cigarette company brand. Even the Department of Defense has joined the Vaporizer and E-Liquids industry by allowing veterans to use their E-Liquid to help kick start their smoking cessation programs.
Among the newest entrants to the Vaporizers and E Liquids industry are coffee flavored E Liquids. These coffee-flavored vaporizing cartridges are extremely popular with coffee chain stores such as McDonalds and other restaurants. Coffee flavored E-Liquids are also a hit among flavored tobacco distributors and online cigarette vendors. Among the best selling brands of coffee flavored E-Liquids are Big Green, Michelob, Slabs, and Frosty Caramel. The reason for the success of these E-Liquids is due to the high quality flavors that are sold in these coffee packets along with the large selection of brands.
One thing about Vaporizers and E Liquids that need to be noted is the ever-changing market dynamics. As mentioned earlier, there are new types of E-Cigarettes being introduced as well as new tobacco alternative products entering the market. In fact, the biggest winners in the Vaporizer and E-Liquids marketplace are the distributors of these merchandise who benefit from increasing tobacco sales and a growing demand for high quality vaporizing E-Liquids. For example, distributors of Cherry Coke Vaporumes saw their sales grow thirty-five percent in 2021. Although the market dynamics have slowed down somewhat in some areas, E-Cigarette distributors can feel comfortable that their product remains a strong cash crop for them.
Other markets that have seen an increase in Vaporizer and E-Liquids sales include body care, cosmetic, and personal care lines. One area where the Vaporizer and E-Liquids market is seeing a decline is the over the counter smoke remedy industry. In the past, Smoke remedy products sold in pharmacies contained menthol and herbal smoke ingredients, but most cease to remain on the market as smoke remedy manufacturers attempt to replace them with safer natural plant-based ingredients. Ironically, smoke remedy companies continue to sell E-Cigarettes that also contain tobacco, yet those same companies will go after the Vaporizers and E-Liquids market with more vigor than they do the traditional tobacco companies.
With all of this said, the Retail segment is projected to experience growth over three percent during 2021. This growth will be fueled by the growth of Vaporizer and E-Liquids businesses. As a whole, the retail sector of the E-Cigarette business is projected to experience growth of three to four percent annually, with a full quarter of that growth coming from the core E Cigarette business. In the Vaporizer and E-Liquids segments, the fastest growth is projected to come from the flavored liquid category which continues to expand at a very fast rate due to consumer demand. The smaller business segments will experience slower growth, but overall there is still growth coming from the E-Cigarette market segment.
If we continue to watch the global vape market closely, we will continue to see a tremendous rate of innovation in this emerging market. There are a number of trends that are currently shaping the future of the global Vaporizer and E-Cigarette industry. The first is the continued focus on the quality of the product. It is no secret that the Vaporizers and E Liquids sold by the major manufactures have had to deal with recalls and unwanted product defect issues. The US FDA is continuously requiring tighter regulations on the manufacturing process in order to stay on top of the “tobacco” issue. For consumers, those efforts are only making a strong statement that the products are safe to purchase and will most certainly give consumers the confidence they need to continue making the purchases.
Another trend we’re seeing developing is the number of E-Cigarette shops being opened in new and growing cities around the world. The US has traditionally been a great nation when it comes to E-Cigarette businesses. We are witnessing an enormous rate of growth in countries such as China and India, which are witnessing a significant increase in E-Cigarette business. In the US Vaporizers and E-Cigarettes have the opportunity to expand into a larger market while seeing fewer recalls and less regulation than the United States. The forecast period for growth is projecting growth in new and growing markets around the world for several more years to come.