If you’ve watched Mad Men, one of the most iconic shows on television, you will see that there were a total of 952 cigarettes which had been smoked on screen through a span of 92 episodes. As per studies, more than 40% of the Americans smoked during the 1960 period and since then tobacco industry has been of tremendous power and this tends to continue even at the present day. In 2002, the World Health Organization reported that there were 15 billion cigarettes that were sold each day and the tobacco companies spent more than $1 every hour in promoting tobacco cigarettes.
Although the global tobacco market might be worth $780 billion, yet they are currently being disrupted and outshined by a fast-growing small industry, vaping! There are companies like V2 Cigs which are using their latest technology to bring about disruptions in the tobacco industry.
Statistics to take note of
According to Research and Market’s report, the entire vaping industry will have a CAGR of around 17% throughout 2022 and they will also have a market value of $27 billion as per predictions by analysts and researchers. In fact, Bloomberg has also forecasted that by 2047, there will be more sales of vape pens than the conventional tobacco industry.
Keeping in mind the fact that the tobacco industry has been here since hundreds of years, losing dominance within a span of 30 years is a big thing for them. As per what the ACS or the American Cancer Society has to say, vaping is the most disruptive change that has happened in the tobacco industry. There’s no parallel to vaping.
Tobacco companies have started investing in vape companies
Due to their extreme popularity, there are few of the biggest tobacco companies who have started investing in the vape companies or they’ve even acquired many of them. They have shown the positives of the industry which threaten the core of the tobacco industry. You will be rather surprised to know that few of the popular vaping brands are presently being owned by the most popular tobacco companies. For instance, VUSE is now owned by Reynolds America, Blu is now owned by Imperial Tobacco and British American Tobacco has launched Vype.
The tobacco companies have been seen spreading a rather negative influence in the society as the carcinogens in the smoke are directly related to cancer and other heart diseases. On the other hand, vaping is seen as a safer alternative to smoking.