THE EMERGENCE OF E-CIGARETTES AS THE MOST PROMINENT SMOKING CESSATION PRODUCT
Smoking is arguably the leading cause of avoidable death in the world. According to the World Health Organization (WHO), smoking kills five million people every year, and this is more than the number of deaths caused by HIV, tuberculosis, and malaria together. However, despite the growing number of deaths from smoking every year, smokers still find it difficult to quit smoking. 73% of smokers wish to stop, 22% try, and less than 5% succeed without assistance. Structured help, coupled with the adoption of smoking cessation products improve the chances of successfully quitting smoking.
The growing adoption of smoking cessation products, especially e-cigarettes, is having a favorable impact on the global smoking cessation and nicotine de-addiction products market. According to Research on Global Markets, the market is anticipated to witness an expansion of 20.2%, on a CAGR basis, during the forecasted 2018-2023 period. According to the report, the e-cigarettes segment is anticipated to expand at a CAGR of 22.0% during the forecasted period, mainly because of the product’s ability to replicate a sensation similar to that of smoking conventional cigarettes, while minimizing the health risks associated with the latter.
What’s driving the popularity of e-cigarettes
The popularity of this segment is being driven primarily by factors such as low costs of e-cigarettes, growing number of e-cigarette manufacturers in the market, and the introduction of novel products by market players. Moreover, consumers’ easy access to distribution channels, especially websites and e-commerce sites, which provide manufacturers with the scope to expand both locally and globally, continues to be one of the key reasons for the growing popularity of e-cigarettes. However, retail channels, currently generate over 60% of the revenue and remain the primary distribution channel.
What’s in store for e-cigarettes
An increasing number of people are using e-cigarettes because they have realized its hazardous health effects are much less than that of conventional cigarettes. Also, e-cigarette users are creating awareness about its benefits, as well as the difference between smoking and vaping. The future of e-cigarettes businesses relies significantly on awareness. E-cigarettes have emerged as an excellent smoking cessation product that helps reduce cases of smoking-related diseases. Besides being a less-harmful alternative to smoking, e-cigarettes help smokers undergo smoking cessation procedures without having to feel the stress associated with it.