Research And Markets, one of the leading providers of market research reports and industry analysis, released a new analysis of the vape industry as it pertains to Germany and its estimates for industry growth in the country are impressive to say the least.
According to the company’s latest estimate, the electronic cigarette market in Germany will exceed $852 million within the next handful of years — by 2023 to be exact.
The rise in vaping across European countries comes at a time when tobacco sales are plummeting. Smokers, in Europe and abroad, are increasingly taking up vaporizing in the hopes of ditching their smoking habits in favor of what many believe to be a less harmful alternative.
While scientists continue to research and debate the health implications of vaping and whether it’s truly less harmful than smoking, many have opted to make the transition from smoke to vapor. Subsequently, vaping markets continue to grow even as they’re faced with increased scrutiny and regulation from local and federal governments the world over.
As policy changes go into effect, we see varying decrees from one governing body to the next. In the United Kingdom, the public healthcare system has recommended that smokers give up the cigarette in favor of the electronic cigarette, or e-cig. But in some countries, such as Australia, vaping nicotine has effectively been banned. And in others, new regulations are on the horizon. Which way those regulations will lean, in favor of vaping or against it, remains unclear.
Regardless of which direction the world’s governments ultimately decide to regulate the vaping industry in their respective countries, one thing is clear: vaping is on the rise.
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