Vaping industry has grown tremendously over the past few years. This is as a result of people switching from smoking to vaping because of its benefits. Vaping is proved to be safer than smoking because it doesn’t have harmful chemicals which can cause diseases such as lung cancer, mouth cancer or heart attacks. It also doesn’t produce litters which is harmful to the environment.
Vaping industry is now considered one of the largest industries in the world because;
1. It is a booming business now.
Vaping is the new kid in the block. Its market value is getting hotter by the minute. With investors such as ArcView group investing heavily in the industry, it is expected to see a significant growth.
Worldwide retail sales of the e-cigarettes and vapes hit about $2.5 billion in 2013. And in 2016, the amount almost doubled according to the Euromonitor. And the numbers are expected to go up.
Another reason as to why the Vaping Industry is booming is because, in some countries, the vaping products aren’t taxed. So vaping is still expected to grow in popularity and in profits.
2. It has created jobs
Vaping industries have created jobs for several people. As the demand goes up for the e-cigarettes, so does the demand for skilled workers who have knowledge about the industry. It’s a stated fact that unemployment is an enemy to a country’s development. By creating these jobs, it has simultaneously strengthened the working base that drives the economy’s growth.
3. Its market growth is set to go high
Its market size is estimated to be at $40 billion in 2023. Vaping is expected to see this growth because of the growing awareness of the benefits of vaping and an increase in the number of vape shops and stores.
4. It has the fastest growing product
E-cigarettes are among the fastest growing products across the globe, this is mainly because they are considered safer than the traditional cigarettes. So, therefore, their demand is high. The liquid in e-cigarette has nicotine which is both a stimulant and a relaxant; it revives your energy when you’re tired, and calms you down when you’re anxious.
Because of these benefits, people are switching to vaping, many of whom buy online from shops like buyv2cigs.co.uk and vaping industry keeps on expanding.
Apart from the nicotine, the e-cigarette has propylene, glycol, glycerine, and flavorings. All these are not as harmful to the body as tobacco.