While this may seem something of a strange statement to make when you’re looking at a sector but a fraction of the size of the tobacco industry, many people expect the power and influence of the vaping industry to grow.
We only need to look at the regulatory environment, and the ongoing delays in Europe and the US, to see that regulators are struggling to keep pace with industry changes and the sector is running away from the authorities.
Some may scoff at the idea that the industry does wield power but if this was not the case, why do we not have regulations already in place?
Has the industry won the court of public opinion?
Why regulators and big tobacco companies ignored the sector at the turn of the century it very quickly rose from a relative niche market to become what many expect to be a multibillion dollar industry in 2015.
During this 15 year period the industry has been ridiculed, the victim of rumours and untruths and now everybody seems to want a slice of the action. So, how has the vaping industry managed to stay under the radar for so long and then emerge as such a powerful beast?
The simple fact is that in the eyes of many of the general public the electronic cigarette industry compares favourably to its tobacco counterpart. Slowly but surely, after something of a shaky start, there is momentum and belief beginning to build amongst the general public – the vaping community continues to grow!
Rumours and untruths dismissed
If you look back over the last 24 months there have been enough rumours and untruths about the electronic cigarette industry to sink many business arenas before it. We have seen governments, politicians, regulators and many in the commercial sector looking to muddy the water, reduce its popularity and effectively impact confidence.
Slowly but surely the vast majority of these rumours and untruths have been dismissed using cold hard facts after the industry waited until the information was available.[quote]Let us not forget that this industry has risen from the ashes time and time again, been the subject of scandalous untruths yet is still here to fight another day.[/quote]
However, it is worth noting that there are still questions to be answered and all parties, both those for and against the industry, acknowledged that further medical trials are required. The information so far has been very positive for the sector, the business arena has used cold hard facts to further its case and regulators are in something of a dilemma.
The information vacuum created by slow movement on the regulatory structure is not helpful and has caused some concern but surprisingly enough confidence remains intact across the wider general public.
Is the vaping industry now an unstoppable juggernaut?
While there are some in the industry who believe the worst is over, regulators will rollover and the general public will continue to fall in love with the sector, this is perhaps the greatest challenge, complacency.
Let us not forget that this industry has risen from the ashes time and time again, been the subject of scandalous untruths yet is still here to fight another day. The fight goes on and focus must remain in order to obtain the best results from a regulatory and commercial standpoint going forward.
Those who believe the industry has now battled through the choppy waters and is able to sun itself on the sandy beaches may need to think again. The fight goes on, enemies are in the shadows and taking your eye off the ball for just a moment could prove extremely costly!