Earlier this year, analyst with Wells Fargo let loose his forecast for the vapor industry: $400 million in growth. That’s undoubtedly a very large number and to us, not at all surprising to hear. While it may or may not be accurate, there’s certainly no question about it: the vapor industry is growing and growing rapidly at that. The industry has come a long way since the early days of poorly designed vaporizers that hardly worked, turning off many who gave it a try on a whim. Those with high expectations were almost certainly disappointed by the early attempts by manufacturers to put together products capable of producing vapor. But now, years later, we have products like the Volcano that have put vaporizing on the map as less of a novelty and more of a serious alternative to smoking. For those that enjoy vapor on the move, there are countless portable options from e-cigs to portable vaporizers. With all of the options, many of which being worthwhile, the industry has taken on a whole new shape and it’s no surprise to find that big money, such as the wealth behind the world’s tobacco giants, is betting on vapor. This includes companies from RJ Reynolds to Japan Tobacco International, the latter of which is commonly referred to by the acronym JTI. And those are just a couple of the major players who have taken a stake in the growing industry. Needless to say, this is one industry that is destined to reach great heights and investors as well as the companies displaced by the new industry are well aware, which is why it’s no surprise to find large influxes of cash invested in the space.
Take Ploom for example, a company backed by JTI. With their big money backing, they’ve managed to take the portable vaporizer space to new heights. Haven’t heard of them? They’re the same company behind the highly successful line of portable vaporizers known as the Pax vaporizers. After having sold off their stake in Ploom to JTI and formed a new corporate entity known as Pax Labs, the company continues to produce Pax vapes while Ploom, now owned by JTI, continues to produce Ploom Pods, which are essentially an electronic cigarette variant. Just two years ago, Pax Labs secured over $46 million in investment during its Series C funding round. With that said, there’s no question about it, this is a serious industry with big money betting on its success.
What do you think, is the vapor industry poised to reach great heights? Will it eventually replace cigarettes as the go to for tobacco aficionados? Or will it fizzle out like Pokemon Go and prove to be nothing more than a fad? If you ask us, the answer is clear: vaporizers are going on to big things and they’re less of a fad and more of a logical alternative to cigarettes and the like. Chime in with your own thoughts in the comments section below.
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