The vaping industry has come a long way since the first e-cigarettes appeared on the scene a few years ago. Based on current projections, it’s going to be worth an estimated $61 billion by 2025. That’s a lot of money, but what exactly will that future look like? While our Magic 8 Ball cannot provide specific answers, there are some clues to indicate where the vape industry will go.
A Note on Regulation
It’s impossible to tell which way regulation will go. While the FDA ruled that vaping products, including hardware and e-juices, will have to be approved by the agency, they’ve given the industry a reprieve to let it keep working while they sort it out. There’s also noise about regulations concerning marketing – making sure that e-cigarettes and vape supplies aren’t being marketed and sold to those under 18. Therefore, our look into the possible future of vaping won’t really look at possible regulations.
E-Cigs Will Continue to be Available
A great majority of those who switch out their cigarettes for vaping will begin with e-cigarettes or cig-a-like products that look and feel like cigarettes. For that reason, brands like VUSE, N-JOY, and JUUL will continue to be available at convenience stores, tobacco shops, and vape stores. We may even see them beginning to add more flavors, as JUUL has done.
Mods Will Get Better and More Tech-y
Vape pens have come a long way since the beginning of the industry. As customers began demanding more customization, longer battery life, digital displays, and better charging, the industry responded. Don’t be surprised if we begin to see more customization and better technology for mods.
We might be able to expect to:
- Have built-in juice storage
- Utilize battery packs instead of the current lithium-ion batteries (think of the old 18560s replaced by one pack)
- Have wifi capability to receive updates
- Utilize fingerprint recognition
- Have touchscreens become more standard
The fact is that what customers demand, the industry usually provides. Customers are demanding all-in-one devices – think about the smartphone and tablets in use now compared to the cell phones of a decade ago. The vape industry will likely follow the same trends of innovation.
Cannabis Industry Providing Niche Growth
In all states considering either the legalization of medical or recreational marijuana by 2020, industry sales could likely reach $35 billion. This means that those who want to vape hemp flowers or cannabis flowers are going to begin demanding the same tech from dry herb vaporizers and concentrate pens that they want from standard vaping mods. People looking for discreet consumption of cannabis have been a driving factor in the growth of this sector of the vaping industry.
Innovators have introduced vaporizers that can give the consumer the choice of vaping dry herb, oil concentrates, or wax concentrates with a simple switch of the chamber or tank.
Consider also that Apple recently applied for a patent for vaporizer technology. Because this is outside the company’s normal purview, many are speculating that the company is looking to get into the cannabis vaporizer game. We already have vaporizers that have apps for use on both iPhone and Android, now imagine a vaping device that is as sleek as a smartphone.
Continued Growth of the Industry
An industry expected to be worth $61 billion by 2025 doesn’t report those kinds of gains by remaining stagnant. As more smokers realize the potential health benefits of putting down analog cigarettes and picking up vaping, the industry looks to be one of continued growth. In part, innovation will always be a driving factor in that growth.
Companies like SMOK, Sigelei, Storz and Bickl, DaVinci, and Pax are industry leaders in the vaporization business. They’re not just sitting on their laurels, either. They are driving continued innovation aimed at making vaping not only more fun but more tech-savvy as well. Expect that the industry will continue to grow as customers demand more and more innovative technologies.