Vape Industry News Today: What Forex Traders Need to Know
As the popularity of vaping has grown dramatically over the past few years, so too has the interest in vape industry news. The rise of vape technology and the news surrounding it has become a topic of great interest, especially among traders who are looking to keep up with the latest developments in the industry. Today, we’ll explore how the vape industry is affecting the foreign exchange market (FOREX) and what news traders should know.
Vape Industry News Today Review
Vaping has become a booming trend over the last few years, with sales soaring as more and more products become available. Regulators in the U.S. have not been able to keep up with the rise of modern vaping technology, which has seen nicotine levels increase and products innovated to make them more attractive to consumers. This has led to a range of patent infringement lawsuits and marketing denial orders to be issued in the U.S., as well as multiple lower court rulings. In this article, we’ll take a look at the current state of the vape industry in the U.S., reviewing the latest news and developments.
FDA Regulation of Vaping
In the U.S., the Food and Drug Administration (FDA) is responsible for regulating vapes, e-cigarettes, and other electronic nicotine delivery systems. Since 2016, the agency has tightened regulations and issued marketing denial orders to manufacturers, in an attempt to keep these products out of the hands of children and teens. For instance, in December 2019 the FDA issued marketing denial orders to R.J. Reynolds Vapor Company for six flavors, citing their appeal to youth.
The FDA has also implemented reporting requirements for vape companies, as well as a compliance and enforcement policy to ensure companies are following all applicable regulations. These regulations can be confusing for many vape companies, and there have been reports of companies flouting the agency’s orders.
Share of Vapes Market
Data from Nielson reported that in December 2020 Juul Labs accounted for 49.7% of the total e-cigarette market share in the US. Other popular products such as the Suorin Drop, myblu, and Vuse Alto followed Juul’s blueprint to provide high-tech vaping devices with appealing flavors. This has led to a steady increase in unit sales since January 2020, with the total number of different e-cigarette devices sold in the US nearly tripling to over 9,000.
However, there are still many questions about the future of the vape industry. In April 2019, the FDA issued a ban on flavored vapes that target youths, and in May 2020, Juul Labs announced that it would no longer manufacture or sell flavored products. It remains to be seen how the ban will affect the market as a whole, and what the long-term implications will be.
Overall, the vape industry news today review paints an alarming picture. Despite the efforts of regulators, vape companies continue to flaunt orders and market their products to youth. As a result, unit sales continue to rise, with more and more devices appearing on the market each year. Consequently, further action needs to be taken in order to protect users, particularly young people, from the dangers of nicotine addiction.