Who would want to smoke something coconut flavored? Young people, that’s who. E-cigs largest target demographic is pushing vaping to become a billion-dollar industry shortly with its low cost, fruity flavors, and non-tobacco options.
A Smaller Blow to your Wallet
Smokers making the switch from conventional cigarettes to e-cigs will save about $2000 yearly, which is a considerable incentive to people on a budget. While the average price of a pack of cigarettes hovers somewhere between $6 and $8, you can use one vape pen for up to 2 months.
Yes, the upfront cost is higher, but in the long run, vaping is certainly more affordable than conventional cigarettes. The U.S. and Europe are the target market anyway since because, in places like Africa, Asia, and South America, traditional smoking rates remain undisturbed by heavy regulation.
Tobacco’s heyday came to a screeching halt after the 50s and 60s because of regulations on advertising. Before 1998, it was entirely permissible for direct advertisements for tobacco towards children or “replacement users.” Young people are very attracted to vaping because of the variety of flavors offered and the absence of tobacco or other known carcinogens. While this industry remains highly unregulated, this allows investors to explore their options without worrying about a stall in the market.
The Health-Conscious Can Smoke Too
E-cigs largest demographic is 18-24 years olds, and they are still reeling from the Master’s Settlement Agreement that ended the advertisements for tobacco products directed at children. Since vaping is the “healthy” alternative to smoking the regulation has seemingly lost its stronghold.
With the legalization of cannabis for medical and recreational uses making its way across north america a whole new demographic opens up. Joy’s CBD Vape Guide explains how the most effective way to ingest this new panacea, isn’t by drinking drops or eating gummies but by smoking it.
The Good, the Bad, and the Ugly
If your considering investing in this trend you may want to get in now. Regulation is slow to form with vaping and CBD oil, which opens up a lot of buying opportunities in the market. However, upfront costs are higher, reducing the market to solely the U.S. and Europe. The biggest drawback may be that it might encourage underage smoking.
Things like fun flavors and the elimination of known carcinogens might lure in young users that wouldn’t have become cigarette smokers in the first place. The bottom line is that the market for vaping is still wide open and is growing rapidly, especially now that cannabis is being made legal in may states.