The consumption of e-cigarettes has significantly grown in Canada over the years. The market has recorded a remarkable increase, thanks to the rising health concerns and an increasing number of smokers who are opting for healthier lifestyle choices. Nevertheless, the recent vaping ban and controversy around vaping have raised tough questions about the future of the vaping industry in Canada. This article aims to dive into the future forecasts of Canada’s vape market and assess the industry’s expected growth over the coming years.
The e-cigarette market in Canada has undergone a considerable transformation over the last few years. According to StatsCan, the domestic sale of vaping products more than doubled in the past two years, from $367 million in 2017 to $754 million in 2019. However, following the numerous health-related concerns, Canadian governments are adopting various measures to regulate the use of e-cigarettes. Although this may have an impact on future growth, many analysts remain optimistic about the industry’s future in Canada.
One of the reasons e-cigarettes are popular is that they are marketed as a safer alternative to traditional cigarettes. The trend is expected to increase over the coming years, especially among millennials. The younger demographic is more health-conscious and aware of the dangers of traditional cigarettes, leading them to consider e-cigarettes as a viable alternative. The increase in consumer preference is likely to boost the e-cigarette industry’s growth in Canada, leading to more job openings and innovation within the market space.
Another significant factor is the government’s role in regulating Canada’s e-cigarette industry. The Canadian government has been vocal in regulating the sale, distribution, and consumption of vaping products. In May 2018, Health Canada’s Tobacco and Vaping Products Act was introduced to regulate the e-cigarette market better. The legislation aimed at limiting the use and sale of e-cigarettes to minors, as well as ensure full disclosure of e-cigarette ingredients. The regulation could lead to better quality control and further market expansion for manufacturers.
Cloud-chasing, the activity of producing large plumes of vapors when using e-cigarettes, is becoming popular in Canada. The demand for e-cigarettes that produce more vapor is expected to grow over the coming years, driving innovations in the vaping product manufacturing industry. Larger e-cigarette devices and refillable vaporizers with increased battery life are some future possibilities that manufacturers could offer to consumers. Expanding the product line to include different flavors and nicotine strengths also offers unique value propositions for consumers.
The vast online consumer market for e-cigarettes in Canada is also another growth driver for the industry. E-commerce has changed the world of retail, and the vaping industry is not immune to its effects. Canadians are now ordering e-cigarettes online to have them delivered to their doorsteps. This trend is likely to continue, with the retail giant, Amazon, contemplating the introduction of e-cigarettes into their product line. The convenience offered by online buying offers distributors a way to reach a broader audience while at the same time, lowering distribution costs.
The future of the vaping market in Canada is optimistic, despite the recent ban and controversy around vaping. As people become more aware of the harmful effects of smoking tobacco, e-cigarettes are increasingly being viewed as a safer and healthier alternative. Consumers’ preferences are evolving, and innovations such as Cloud-chasing and new flavors will continue to shape the e-cigarette industry in Canada. The industry’s future will also be influenced by government regulations and the evolution of e-commerce. Overall, the future of the vaping market in Canada looks bright, and it’s exciting to watch the transformation this market is undergoing.