Although almost everyone knows what a vaping is, and many people use it in everyday life, not everyone can imagine how big this industry is. People who understand this, have learned long time ago how to make money in the vaping industry. Many companies that produce cigarettes began to perceive electronic cigarettes as a dangerous opponent. If you want to know more, you need to delve deeper into the subtleties of the world of vapes.
Today, vaping is an industry that would require a scalable business model whose goal is to achieve high-quality goods and services. The Ukrainian consumer needs premium products and service. Therefore, the business must develop a clear strategy that will not crash and provide the desired result. One of the areas that develop rapidly is producing dry herb vaporizer (click here to read more), along with legislation of marijuana in different countries and US States. More than half of U.S. states and the District of Columbia have legalized medical marijuana in some form, and more are considering bills to do the same.
The market of vaping, or, as its official organizations call it, “the electronic means of delivery of nicotine” – is one of the youngest and fastest growing global businesses. An electronic cigarette was invented in Hong Kong in 2004, its mass distribution around the world began about twelve years ago, and in 2016, according to an analytical company BIS Research, the global market of vaping has reached $ 10 billion. Almost the same situation is with vaporizers.
Why do we need legalization of marijuana?
Decriminalization of light drugs carries considerable risks for society, but at the same time, it can provide a positive effect. Using medical marijuana can give a positive effect on the economic position of the country.
Under the influence of American business circles, interested only in increasing their own profits, the sale of marijuana has become the fastest growing sector of the economy in the United States. If the efforts to legalize it in all 50 states continue, then in the coming years the marijuana market can bypass the organic food industry in its volume.
Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions. It’s basically the same product as recreational marijuana, but it’s taken for medical purposes. Clinical studies of medicinal cannabis in oncology are limited. To conduct marijuana research in the United States, researchers must obtain a license from the Drug Enforcement Administration and the approval of the National Institute on Drug Abuse.
Why is vaping cannabis better than smoking?
Weed vaporizer is used to heat cannabinoids up to their boiling point. Instead of burning buds and getting a lot of smoke, the vaporizer dehydrates the buds, releasing their contents without using fire and then mix it with chemicals in the air. This process occurs during the combustion of oxygen.
This process can be described in more simple terms. Herb vaporizer completely eliminates all the chemicals that appear during the burning of buds. Patients who smoke medical marijuana and its fans regularly inhale the smoke, exposing themselves to danger. This process is complicated by the fact that the buds of marijuana are wrapped in paper, and during its combustion, additional carcinogens are released into the atmosphere. The substances obtained from marijuana are also free from the effects of smoke, but the steam exerts the same harsh effect as smoking.
Is it profitable to start vaping business?
But even though there are distinct advantages of vaping marijuana, the legislation is constantly changing and new rules are being created every year. For example, after May 2017 any business producing or selling vaping products and accessories must obey the new regulations. The changes are not significant, but they are present. Like refilling containers weren’t allowed to exceed 10ml, so only smaller packaging could be used. Businesses need to adapt to only produce up to 10ml bottles, meaning their costs could increase.
“In 2014, I could have named all (vaporizer companies) on both hands, very easily. Now, in 2017, what you have in China is an economy that’s based on copying things as quickly as (possible),” said Peter Hackett, vice president of Transpring, a Chinese vaporizer manufacturer that has a distribution wing in the United States. So, we can see how fast and rapidly this area is developing.
“What’s arisen in the last few years, as the cannabis industry has grown and vaporizers have become popular, are smaller companies in China that can produce e-cigarettes and are willing to take a risk and enter (the cannabis) industry,” Hackett added.
The vaporizer weed market looks like continually growing one, probably because of some factors, such as:
- A constant rise in the usage of medical cannabis (because vaping has much more support from doctors than smoking)
- The portability of personal vaporizers, which are very convenient
- Some U.S. state laws that encourage vaping
Latest researches show that The Global E-Cigarette and Vaporizer Market is poised to grow at a CAGR of around 20.8% over the next decade to reach approximately $61.4 billion by 2025. Some of the prominent trends that the market is witnessing include combination of E-cigarette and cannabis industry and improvements in device technology and product innovation.
The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. With comprehensive market assessment across the major geographies such as North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the world the report is a valuable asset for the existing players, new entrants, and the future investors.
Are there any obstacles?
One of the most significant obstacles that vaporizer companies face is convincing consumers that their products are worth spending extra money. That’s because the price difference can be impressive.
Buying a marijuana vaporizer pays off in just eight months. With all these advantages, it becomes clear that the vaporizer is a fantastic choice. As marijuana has a worldwide reputation, more and more people will soon realize that buying a vaporizer is a very reasonable choice.
About the Author: Phyllis Baker is the independent writer and health blogger. Currently, she writes about vaping as the smoking alternative and manages public relations for the biggest US quitting smoking community.