As it is quite obvious the electronic cigarette industry has seen such growth so quickly over the past five years that projections place this sector to be a $10 billion industry by the year 2017. Many experts predict e-cigarettes to be the future of smoking and with the surging popularity, we are certain of it. Here is a list of the five factors that will be affecting the industry the strongest.
1. FDA Input
The FDA holds a tremendous amount of control over products on the market designed for human consumption, and having government input over legislative decisions add further credibility to the industry. While the first regulations the FDA instituted classified the devices as tobacco cigarettes and following regulations were set to control who purchases the products, the next round will include regulating production standards.
2. Industry Red Tape
There’s much concern throughout the e-cigarette community regarding unnecessary and unfair regulations. For instance, there has been talk that the FDA is looking into restricting the sale of e-liquid, which could entail limiting flavor availability. Fortunately this will most likely not come to fruition, however it has been discussed numerous times.
3. Public Vaping Bans
One of the biggest debates regarding e-cigarettes is public usage. Because of the lack of education on the products, many people are concerned about exposure to secondhand vapor. This has led to bans in certain places restricting usage of electronic cigarette devices. The antidote to this is education, and hopefully as time passes, more people will be understanding and knowledgeable about vaping, and they will no longer associate these products with traditional tobacco.
4. Public Opinion
Educating the public on electronic cigarettes is paramount. Stigma around tobacco cigarettes is well-deserved, however vapor cigarettes need to be distinguished as different.
Marketing will be one of the most influential factors on electronic cigarette sales in the coming years. How a product is marketed can make or break it success and manufacturers have to abide by strict rules on terminology when marketing, particularly in regards to content on the Internet.