Vaping Market is Likely to Witness Steady Growth


Posted April 3, 2019 by hexa_research

“The Global Vaping Market is likely to witness steady growth in the years to come owing to rising health awareness among consumers and increasing number of vape shops”
 
03 April 2019, The Global Vaping Market is likely to witness steady growth in the years to come owing to rising health awareness among consumers and increasing number of vape shops. Traditional smoking products contain many cancer-causing elements. This has encouraged the government and private organizations to spread awareness regarding health hazards of tobacco and reduce its consumption. Vaping is considered to be a safe alternative to traditional cigarettes as it is less toxic. Moreover, effects of vaping products are same to that of nicotine replacement therapy (NRT), which, in turn, can supplement market growth in the coming years.

Moreover, smoke released from burning tobacco is harmful to environment. Vaping products reduce the amount of smoke and leave mist, which gets dissolved easily in the air. In addition, they avoid the need for disposing cigarette butts and flicking ash, thereby encouraging safe smoking. Vaping products, such as e-cigarettes, can be effective for quitting smoking, as they are less harmful and release vapor, instead of smoke. Therefore, rising awareness regarding safe, smokeless, and ash-free tobacco is anticipated to boost market growth in the years to come.

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However, awareness campaigns conducted by the government organizations to avoid use of vamping products, especially among teenagers, are expected to restrict market growth. For instance, in 2018, the U.S. Food and Drug Administration (FDA) launched “The Real Cost” Youth E-Cigarette Prevention Campaign with an aim to educate kids regarding the dangers of e-cigarettes.

North America is one of the lucrative regional markets due to increasing use of vaping devices as an alternative to conventional cigarette and existence of key players. The U.S. is a major contributor to regional market growth. Canada is projected to exhibit remarkable growth in the coming years due to increasing efforts by the government to encourage the practice of these devices, instead of cigarette. Asia Pacific is likely to exhibit fast growth in the coming years due to increasing awareness regarding vaping products.

Some of the key companies operating in the vaping market are International Vapor Group; Reynolds American Inc.; Philip Morris International Inc.; British American Tobacco; and International Vapor Group.

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Categories Business , Consumer , Industry
Tags cigarette , consumer goods , smoke , smoking , vaping , vaping market
Last Updated April 3, 2019