Vaporizer Industry is Booming
With the increasing awareness about carcinogens and the pro-vaporizer policies of the government, the vaporizer industry is all set for a giant leap. From its humble beginnings in the early 1990s, the vaporizer business has shown consistent growth ...
The concept of vaporization is as old as the human civilization. The most ancient use of this technique is recorded by Herodotus, often referred to as the father of history. During the 5th century B.C. he recorded a custom enjoyed by Scythians which goes like this:
The Scythians take some of this hemp-seed and… throw it upon the red-hot stones; immediately it vaporizes and gives out such a vapor as no Grecian vapor-bath can exceed; the Scyths, delighted, shout for joy.
The modern vaporizers work on the same principle of heating an herb or medicine without burning it.
Though the first modern vaporizers began to take shape in are early 1970s, the credit for reinventing the vaporizer goes to Eagle Bill Amato. He was introduced to the vapor by a Californian grower in 1993. Eagle Bill invented the “Shake a Vape” based on the ancient Greek technique and after that there was no looking back. This technique sparked a vapor revolution that lead to the discovery of uncountable vaporization techniques. In the present day marketplace, there is a vaporizer for everyone – whether you are a recreational cannabis aficionado or a person who just wants to get rid of smoking. The market is full of vape devices that cater to your individual tastes and lifestyle. Even buying these high-tech devices is as simple as clicking a mouse. There are hundreds of online stores offering the widest range of vaporizers.
Vaporizers- A Booming Industry
Today, manufacturing and marketing of vaporizers has become a booming industry with an enormous potential for growth. The increased awareness in the masses about the ill effects of carcinogens released by smoking is one of the major factors behind the phenomenal growth of this industry. The vaporizer manufacturers are also coming up with more innovative products to suit the individual needs of people. In the recent past the governments of many countries have acknowledged the health benefits of medicinal cannabis and other herbs. They are relaxing the laws that govern the use these herbs. All these developments have created an environment of growth and opportunity for the vaporizer industry. Innovators and entrepreneurs are working hand-in-hand to offer the most elegant and sophisticated vaporizers to the end users.
Bonnie Herzog, senior tobacco and beverage analyst at Well Fargo Securities predicts that in 2015 the revenue of the vaporizer industry will touch $3.5 billion. This is almost double of $1.7 billion predicted of 2013.
CEO of the NASDAQ listed Vapor Corp., Jeffery Holman has similar views on the growth of the vaping industry.
According to Jeff, the vaporizer market is divided into three major sections- wholesale, online and vape stores. While the wholesale business will be steady, it is the online distribution and vape stores that are going to be the propellers of growth for this industry. This is because the online shopping gives the end user an easy access to the most customized devices. People can simply go to their favorite vape site and browse the vaporizers that meet their individual needs. According to industry experts the online sales of vaporizers is going to earn almost 30% of the total projected revenue. Jeff further predicts that a whopping $2 billion of the total projected revenue of $3.5 billion will be attributed to the vape stores.
Emerging Models of Growth:
The potential of the vape stores in generating the revenue might seem to be an overstatement to the layman; however the numbers are on its side. A vape store will be like an ice cream parlor where anyone can walk in and get access to hundreds of flavors. The sheer variety offered by these stores and the affordability will attract more vapor enthusiasts. In a vape store all sorts of vaporizers will be available under a single roof. There will be hundreds of flavors to choose from and by mixing and matching another thousands can be made on the spot.
These are just a few revenue generation models for the vaporizer industry. Add to these the enterprise of small and medium players and sky will be the limit for the vape industry.
As they say, “The result of a good business is a satisfied customer”; here is a business that promises better health along with customer satisfaction.