On September 20th, at the 2023 Global Tobacco and Nicotine Forum (GTNF), Eve Wang, a representative from Chinese company Smoore, shared some insights on Smoore's views in the e-cigarette industry. She believes that through collective efforts and collaboration, a brighter and more sustainable future can be created for this industry.
Two years ago, at the GTNF Forum in 2021, a representative from Smoore company delivered a speech on the theme of "Vaping Making Life Better," highlighting Smoore's steadfast commitment to driving progress in the e-cigarette industry. Under the theme of "Changing the Conversation, Changing the Results" at the 2023 GTNF Forum, Eve showcased the current innovation landscape, challenges, and sought-after solutions in the e-cigarette industry. She believes that now is a critical stage for the industry, a stage full of infinite possibilities and opportunities.
The industry has undergone a transition from a single product category to open system devices, and now faces the challenges and opportunities of diversification in the market. Eve also highlighted another important keyword: regulation. She emphasized the significant role regulatory bodies play in protecting consumers and promoting a healthy industry development, while also discussing how to address these challenges through innovation and collaboration.
According to Sullivan research data, there are over 60 million e-cigarette users worldwide. The global retail market for e-cigarettes was valued at $28 billion in 2018 and has reached $52.5 billion in 2022. It is predicted that by the end of 2027, the market size will exceed $122 billion.
Eve states that, as the market grows, Smoore is also aware of the numerous challenges faced by the e-cigarette industry. Smoore is devoted to finding balanced solutions by improving vaporization efficiency, ensuring the industry's health and sustainable development.
For instance, the British e-cigarette market has come under scrutiny in recent months from various media outlets. In March, the Financial Times highlighted the environmental impact of disposable e-cigarette products. In May, The Guardian drew attention to the risk of fires caused by disposable products in waste management facilities. In the same month, the British Broadcasting Corporation (BBC) called for stricter regulations, citing increasing statistics and the issue of youth usage. Furthermore, in June, Sky News published a report urging for a ban on disposable e-cigarette products due to their particularly strong appeal to teenagers.
Therefore, Eve believes that all practitioners need to take these issues and challenges seriously and seek more balanced solutions to ensure the health and sustainable development of the industry. She emphasizes that through joint efforts and collaboration, a better and sustainable future can be created for this industry.
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