More and more smokers switch to electronic cigarettes as a safer alternative to tobacco. Traditional tobacco companies have noticed the change and do not want to miss this opportunity. The market is important, and constantly increasing. It doesn’t suffer from the bad press that tobacco suffers from. Even though some negative articles exist.
The traditional cigarette market is for now more important than the vaping market, but how long will this last?
Many analysts foresee than the e-cig market will one day be greater than the traditional cigarette market. However, this will not take place shortly, as the switch will take place in 2024 according to some forecast.
It is therefore crucial for many tobacco companies to enter this new market.
While the e-cigarette market continues to develop, governments all around the world are working on new regulations or are reinforcing existing regulations. This has actually already had an impact on the vaping market to such an extent that sales have slowed down in some countries.
Big Tobacco plans on becoming a major actor on the vaping market
This does not however prevent tobacco companies from wishing to enter the market. Big Tobacco’s financial means are way superior to those of the vaping actors, which is going to enable them to flood the market with financially attractive products, at the risk of seeing numerous manufacturers disappear. This is a classical strategic move used when entering a new market. It is for example used right now in the bus transportation industry in France.
They will still have to work on building their image on the market. Indeed, they will be facing well-established companies with a strong reputation among the vaping community.