BCC Research Reveals E-cigarette Industry Growth Continues, Despite Regulations
With a projected CAGR of 31.7% in coming years, BCC researchers expect the e-cigarette market to grow from 2022’s $8.7 billion to $43.7 billion in 2028
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With a projected CAGR of 31.7% in coming years, BCC researchers expect the e-cigarette market to grow from 2022’s $8.7 billion to $43.7 billion in 2028. In BCC’s latest report, North American E-Cigarette Market, researchers found that the market will continue to grow despite federal regulations and demonstrated health risks, reported by the Office of the Surgeon General and the American Lung Association. North America, specifically the United States, which has the highest share in the market, continues to see growth in the e-cigarette industry.
Factors supporting this growth include efforts from transnational tobacco companies, including JUUL, which have invested in, developed, and marketed various new nicotine and tobacco products promoting healthier smoking habits in recent years. Research revealed possible new features like Bluetooth and virtual twin apps, which offer benefits such as:
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Nicotine tracking, which promises to provide users with a more exact idea of how much nicotine they are consuming, and track total hours spent smoking e-cigarettes or vaping over longer periods of time.
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Device locking, which would enable smokers attempting to quit or dial back on smoking to temporarily turn off their device, restricting their access to nicotine. Device lockers may also be used by parents to control teens’ usage, as a reply to the common complaint concerning the smoking habits of young adults, who today remain both a major force driving market growth as well as one of the most at-risk groups for developing nicotine addiction.
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E-liquid potency and quality monitoring, which would empower smokers to know exactly what kind and how much nicotine or tobacco product they are consuming, including examining individual compounds and their effect on the body.
To keep up with drastic market growth, North American E-Cigarette Market [insert link here] also offers tobacco policy recommendations, such as restricting e-liquid capacity, minimum price laws, and regulations on product characteristics that affect nicotine delivery, such as nicotine strength, output, device power, and puff duration, which are likely to become considerations as the government continues to regulate the e-cigarette market.
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North American E-cigarette and Legal Cannabis Markets( CON003A )
Publish Date: Feb 2019
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