The Future Of Vaping
If anyone had told you a few years ago that electronic cigarettes were the way of the future, you would have laughed. How do you possibly combine tobacco and technology?
But it did happen.
By the end of this year, the vaping industry is expected to be worth $20 billion, and $30 billion by 2022.
The popularity of e-cigarettes continues to rise as time passes. It's possible that their success stems from the fact that they're a healthy alternative to conventional cigarettes. E-cigarettes are a viable alternative to smoking for those who choose to quit. People are also discussing vaping as an alternative to smoking. Those who vape, on the other hand, should be aware of the current developments surrounding e-cigarettes and where vaping's future lies.
In this post, we share our predictions for the future of vaping in the United Kingdom. So that our customers know what to expect in the months ahead, we'll look at upcoming developments in vaping technology as well as the possible effects of broader threats like COVID-19.
Vaping Expos and Competitions Are Coming Back
This is something we're really looking forward to! With some luck, vape enthusiasts, connoisseurs, and cloud chasers will be able to meet up at a few events this year (if not this year, then definitely in 2022).
The COVID-19 vaccination campaign in the UK began on December 8, 2020, and it is expected to take the majority of next year to get everybody vaccinated footnote 1. If all goes well, we should see a relaxation in lockdown by the second half of 2021. When the lockdown is lifted, events and conferences will be able to resume.
Face-to-face events are a relatively recent aspect of the UK vaping scene but having attended a couple of them when Fog Addicts first started, I can assure you that they're a lot of fun. Not only do vaping exhibitions provide us with the opportunity to try out new gear and flavors, but they also provide us with a healthy environment in which we can fully enjoy our hobby. You can blast as many rich, fat clouds as you like at a vaping event without offending anyone!
The Internet Of Things (IOT): Advance Technology Coming
The majority of technology firms are focusing their attention on the vape industry. The internet of things, or IoT, is a network of physical objects that have been implanted with sensors and software that enable them to interact and share data with one another.
The Internet of Things (IoT) is making an appearance in the world of e-cigarettes! The new generation of vape mods include remote locking technology, which allows you to keep your vape secure from children and pets while also rendering it useless if stolen. We should be able to sync our use and battery data to our phones via Bluetooth communication, which would be a must-have for vape enthusiasts looking for even more control over their vaping experience.
These technological advancements (internet and Bluetooth connectivity) as well as further enhancements to the device's features such as battery charge, ease of use, and cleaning will improve the vaping experience.
Voice-controlled vapes are also being discovered, and they should be available on the market by the end of this year.
EU Import Costs Could Increase
Since Brexit talks between the EU and the UK are still ongoing, we don't know how much it would cost to import goods from the EU in 2021.
If there is a no-deal Brexit and companies in the UK and EU are forced to trade on WTO terms next year, e-liquids imported from the EU could increase by 20% to 30% in price. This is a significant cost increase that will be borne by all stakeholders in the vaping industry, including manufacturers, distributors, retailers, and customers.
In a perfect world, we'd have a tariff-free offer on vaping equipment and e-liquids travelling between the EU and the UK, but with trucks still stranded at the border due to the coronavirus outbreak, we have no idea how this will play out. At this point, there isn't anything that either of us can do about the confusion — our fate is in the hands of MPs and MEPs, who will have to decide on a contract (...if a deal gets done).
More Demand For Vape Products
The global vape and e-cig market was valued at USD 12.41 billion in 2019, but it is expected to rise at a compound annual growth rate of 23.8 percent in the future. Over the projected period, the industry will gain momentum from 2020 to 2027. This is attributed to a rise in millennial product demand. Vape companies will increase production in response to this demand, and many more companies will enter the market, resulting in more goods attracting more consumers.
The industry's market size has grown even further as young people have become more aware of it. Furthermore, ongoing research confirming that e-cigarettes are a safer alternative to conventional cigarettes may encourage more people to quit smoking and turn to vaping.
Several unions have come forward to defend the vaping industry, despite the fact that some countries have imposed strict regulations that are likely to hinder its development. If the restrictions are relaxed, the flow of vaping products will increase, boosting the industry's growth.
It's too early to tell for sure, but we have a feeling that 2020 will be a turning point in the battle against smoking. Coronavirus served as a wake-up call for many smokers in the United Kingdom, and we believe that in the long run, cigarette sales will decline as a direct result of the pandemic and mostly peoples were attracted toward e-cigarettes.
There's no doubt that Coronavirus is a terrible, cruel disease, but if the threat of contracting COVID-19 helped more smokers in the UK quit this year, then that's a silver lining worth celebrating.
Increase In Home Grown Flavors
A rise in the cost of imports will boost the popularity of domestic flavors. Some consumers cultivate their own cannabis at home due to high importation costs and other challenges. The availability of more flavor options on the market is likely to boost demand.
Furthermore, vape shops now encourage prospective customers to try out their items before purchasing refills. The flavors available vary from basic sweet flavors like vanilla and chocolate to complex flavors created by combining various varieties. Flavor customization is also on the rise, and it is expected to cater to a wider audience.
Increase In Online Vaping
Vaping was only available in physical vape shops when it first became common. As a result, consumers were forced to go to the store to purchase goods or substitutes. But that is no longer the case. With the growth of the online market, many traditional retailers are turning to the internet to stay competitive.
The covid-19 outbreak open doors for online retailers, forever altering the online shopping landscape. The majority of retailers have built an online presence selling vape-related supplies, and this trend is expected to continue. As a result, more vape products will be available to the general public, resulting in industry growth.
Year after year, the popularity of vaping has increased, while the use of conventional cigarettes has decreased. Following a COVID-ravaged year, it's expected that the number of vape users will exceed previous years' figures. Stakeholders should expect significant market growth in the near future as a result of the growing popularity of vaping.