There’s been new data released by Euromonitor Data showing that the cigarette market will report a record loss of 7.7 billion by 2021 due to both the heated tobacco and vaping market climbing at an unbelievable rate. With vaping becoming the best alternative option for nicotine delivery, the global cigarette category dropped in sales below 90% in 2016, a first in decades and is expected to continue a downward spiral to 86% by 2021.
Shane MacGuill of Euromonitor’s Head of Tobacco Research says that vapor products and heated tobacco represent a major disruption in the tobacco industry. With heated tobacco product sales set to grow by $13.2 billion by 2021, the category is the fastest growing in the industry. However, there’s no sweat off the backs of Big Tobacco because most of them have entered the heated tobacco or vapor products market in one way or another. These companies generate loads of revenue and a lot of that is used for research, and investments into up and coming vapor product companies, so don’t expect the big boys of tobacco to just disappear without a plan b. In fact, many of the large online retailers you purchase your vapor products from could be potentially owned by a big tobacco company — rumors flying around already that some of the more popular and trusted companies have sold out to big tobacco for hefty paychecks.
While this data is on course with something many of us have projected ourselves, it’s great to see headlines to confirm it. These headlines reach large audiences that have been suckered by Big Tobacco’s anti-vaping campaigns, and may now paint a different picture than what the tobacco companies were trying to portray. It’s another win for vaping!