According to a recent study by Grand View Research Inc, the e-cigarette and global vape market are projected to be worth 47.11 billion USD by 2025 at the current Compound Annual Growth Rate of nearly 24 percent. the youth market is contributing to the rapid growth largely and this trend will continue and increase. So, what specific factors are pushing this unprecedented vape industry growth？
1. People are concerned about their health
After many years of campaigning and government health policy, we know that tobacco products are bad for our health. The Center for Disease Control and Prevention（CDC） state that the use of tobacco products is the primary cause of preventable deaths around the country every year.
Smoking cigarettes is in trend for years. However, we now understand that the hundreds of chemicals in tobacco smoke, including ammonia and hydrogen cyanide, add-up to seriously affect human health. There are 69 carcinogenic chemicals that would be a serious concern in any product for human consumption.
Diseases like lung cancer, heart disease, and stroke are in a strong relationship with the use of tobacco products and the CDC estimate that over 16 million people around the country suffer from smoking-related health problems. This places undue stress on the health system.
E-cigarettes are much safer since studies have shown that people who vape have low levels of toxicity compared to people who use traditional tobacco products. This fact is enough to drive more and more young people to the burgeoning e-cig market.
2. Vaping is easy and convenient
One of the huge benefits of using vaping products is their ease of use. Being electronic devices, e-cigarettes are activated automatically when the user inhales on them. This means no lighting up and no mess from used cigarettes.
CoilART products, such as the LUX 200, combine ease of use with modern innovations. They come in a wide range of colors and designs, but can also be customized by the user. Updates to the inbuilt software can easily be downloaded, and LUX 200 is possible to control the output power that determines the rate of vaporization of the e-liquid. CoilART products like this are portable and are available in an affordable kit form, including a USB charger so that the user has everything they need.
These modern innovations combine to provide a convenient, portable, and customizable user experience that many young people enjoy.
3. Industry investment is growing
One of the biggest factors driving vape development is a huge investment in it from major players in the market. E-cigarette technology was first invented in China, but it is in North America where it dominates. Many of the traditional tobacco companies have pivoted in terms of their business direction and are investing millions of dollars directly into the vaping industry.
For example, there are about 300 new e-liquid flavors releasing every month, and this is helping to drive uptake in the youth market since young people prefer flavored products. Therefore, the big tobacco companies see the future and they are making heavy investments in it for the massive growth potential.
Vaping is the future
There are many factors that are driving the growth and development of vaping. More and more young people are turning to electronic cigarette products because they are safer, easier to use, portable, and more affordable. This has led to massive industry growth and huge investment by traditional tobacco companies.
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