DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p4kgf9/us_ecigarette) has announced the addition of the "US E-Cigarette and Vapor Markets: Days are Numbered for this Billion-Dollar Industry" report to their offering.
Electronic cigarettes and vaping products have taken the tobacco industry by storm. Multiple public reports have e-cigarettes surpassing traditional tobacco sales within the next six to ten years if growth rates continue to climb.
The following article discusses major issues in this area, as well as a market analysis, drivers/restraints, timeline of this market in progression, and market revenue forecast.
E-Cigarette and Vaping Markets
Once thought of as a niche product, electronic or “e-cigarettes” and vaping products have taken the tobacco industry by storm. E-cigarettes come in both a disposable or rechargeable form with the look and feel of a more traditional cigarette. Vapor products differ in that they offer increased customization with the varying heat settings, e-liquids, oils and various herbs. Multiple public reports have e-cigarettes surpassing traditional tobacco sales within the next six to ten years if growth rates continue to climb.
Due to the lack of Food and Drug Administration (FDA) regulation, e-cigarette year-over-year growth declined from 2010-2012 due to a large influx of products resulting in overall market saturation. However, growth rates in 2013 picked up again as big tobacco companies entered the market with new product launches or mergers and acquisitions.
Market Implications of Big Tobacco’s Arrival
Big tobacco may have been late to the game, but has made up for lost time with its multi- billion dollar budgets, increased marketing and advertising efforts, brand recognition, as well as robust manufacturing and distribution capabilities. One of the most valuable assets large tobacco companies bring to the industry is FDA familiarity and expertise. Lack of government oversight has inadvertently assisted in the creation of multiple e-cigarette products that did not undergo the rigorous regulatory approval that is in place for traditional tobacco products. With pending FDA regulation, big tobacco will be able to more easily absorb the increased costs associated with receiving review and approval.
For more information visit http://www.researchandmarkets.com/research/p4kgf9/us_ecigarette