Global E-Cigarette Market Trends Points to Significant Growth in Coming Years - Company Enters JV Partnership to Bring E-Cig Products to Native American Gaming Industry Casinos Tuesday, 17 Mar 2015 | 8:55 AM ET PR Newswire
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CORAL SPRINGS, Florida, March 17, 2015 /PRNewswire/ --
Growth prospects of the E-cigarette market in the U.S. is forecasted to continue to grow in the next few years as many now consider vapor products a replacement to mimic traditional cigarettes. Companies in focus today are Breathe eCig Corp. (OTC: BVAP), Electronic Cigarettes International Group (OTC: ECIG), Vapor Corp. (NASDAQ: VPCO), mCig(R) Inc. (OTC: MCIG), Philip Morris International (NYSE: PM) and The Altria Group (NYSE: MO).
Breathe eCig Corp. (OTCQB: BVAP), the electronic cigarette industry innovator and pioneer, announced today an exclusive partnership with Native American Marketing Enterprises. The joint venture will distribute and sell socially and environmentally conscious Breathe e-cigarettes to the Native American gaming industry casinos beginning in the second quarter of 2015. "Our partnership with Native American Marketing Enterprises will better help us promote our unique vision of a friendly, socially responsible smoking alternative," said Josh Kimmel, founder and CEO of Breathe eCig Corp. "Smoking in casinos has been a point of controversy as of late and our expansion is both socially responsible and ecologically favorable, while still appealing to the millions of Americans who visit casinos every year."
The partnership between Breathe eCig Corp. and Native American Marketing Enterprises is a milestone for the economic development of both the Native American tribes and growing electronic cigarette industry. With a nearly $2 billion per year market share, the e-cigarette trade is rapidly growing, with prospects of becoming a more than $10 billion a year industry within the next few years. With this exploding market popularity, Breathe will assist the Native American gaming industry in exceeding $30 billion through the release of all-new e-cigarette varieties that will be enjoyed inside the Native American casinos. Unlike other partnerships, the venture between Native American Marketing Enterprise and Breathe eCig Corp. will also focus on a green approach to casino leisure with innovative products and unique, comprehensive recycling programs.
In other BVAP news: Tauriga Sciences, Inc. (OTCQB: TAUG) ("Tauriga"), a diversified life sciences company with interests in the natural wellness sector and in developing a proprietary synthetic biology platform technology, and Breathe eCig Corp. (BVAP) ("Breathe"), a socially responsible e-cigarette company, announced yesterday that the two companies have entered into a license agreement to co-develop and co-commercialize a new cannabidiol (CBD) e-cigarette. This new product will utilize Breathe's patent pending, proprietary device that dispenses a measured and consistent amount of active ingredient per puff and that also features an optional childproofing device.
In additional E-Cig/Vapor Devices News & Happenings: Electronic Cigarettes International Group (OTCQB: ECIG) is dedicated to providing a compelling alternative to traditional cigarettes for the more than 1 billion current smokers around the world. ECIG is a fast growing independent electronic cigarette company, and owns the trademarks VAPESTICK®, FIN®, Victory®, VIP®, and others. The Company's recent proposal to give the Company's Board of Directors the authority to effect a reverse split of the outstanding common stock at a ratio ranging from 1-for-5 to 1-for-20 was approved with 84.1% of the votes cast, representing approximately 66.5% of the shares outstanding, by a vote of 163,760,975 shares (for) to 30,556,095 shares or 15.7% of the votes cast (against), with 442,000 shares or 0.2% of the votes cast abstaining.
Vapor Corp. (NASDAQ: VPCO), a leading U.S. based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced late last week that it has expanded its retail footprint by opening three additional locations of "The Vape Store" chain in Orlando, Fla., and acquired an existing store in Port Charlotte, Fla., that has been converted to a "The Vape Store." VPCO closed up over 5% at $1.17 on Monday.
mCig(R) Inc. (OTCQB: MCIG), a leading provider of technologies and solutions for the legal medical and recreational marijuana industry, announced last month a record initial CBD product order worth more than $1.2 million. mCig, Inc. also announces that it is finalizing a nationwide wholesale agreement with two large national distributors to supply these high-demand CBD products to more than 1,000 retail store locations.
Further developments of note: Electronic cigarette firms in Italy say a new levy that doubles the price of e-liquid refills unfairly helps tobacco giants like Philip Morris International (NYSE: PM) and will hurt their industry. The tax, which was adopted in January, is set at half the rate of that on traditional cigarettes. The controversy centers on the fact that the lower rate is applied to both electronic cigarettes and to tobacco products such as Marlboro HeatSticks, which Philip Morris is launching in Italy alongside a 500 million euro ($568 million) factory investment.
The market for smokable tobacco in the U.S. has been shrinking, as The Altria Group (NYSE: MO) has forecast that the number of smokers in the U.S. will decline at a rate of 2-3% per year. The short-term solution to maintaining revenues in the face of the declining market size has been price hikes. In the long term, tobacco companies are banking on e-cigarettes to provide a boost. However, recent proposed regulations, as well as reports on the health impacts of of e-cigarettes and their use by teenagers, could foil those plans. Read the full article at http://www.forbes.com/sites/greatspeculations/2015/03/12/how-will-e-cigarette-regulation-impact-the-tobacco-industry/
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