Dismissed as a niche marketThere is no doubt that the vaping industry was dismissed in the very early stage as a new industry which would never hit the mass market. It is well-known that the tobacco companies and regulators looked at the industry at the turn-of-the-century decided it was not a threat. Indeed, there is evidence to show that the FDA (Food and Drug Administration) in the US attempted to ban electronic cigarettes out right only to have this move overturned by the High Court.
When you bear in mind the size of the tobacco industry, which is many times that of the vaping sector, the tobacco companies could very easily have taken over the sector and effectively closed it down.
Was this oversight an expensive error?When you bear in mind the billions of dollars that the US tobacco companies are now ploughing into electronic cigarettes and vaping devices, this could turn out to be a massive oversight and very expensive. When the vaping industry moved from something of a niche market towards the main market and gained more exposure in the worldwide press, it did not take very long for the sector to show signs of significant growth. While the initial exponential growth will slow in the short to medium term many experts believe there is still significant potential in the medium to long term.
The tobacco companies are in a relatively difficult situation as they are effectively selling tobacco products as well as vaping devices. As many people see vaping devices as a "healthier version" of tobacco products it will certainly take some marketing genius to pull this one off.