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Behind glass bong king's explosive growth: both opportunities and challenges

by linbin on May 09, 2020

  The public has been skeptical about the safety and addiction of glass bong king, and national regulatory policies and standards are incomplete.

  The sudden emergence of glass bong king as an alternative to tobacco products early last year attracted the creative investment community to the agency.But there is a lot of controversy in this market.Especially in terms of policy regulation, there is no clear channel requirement for glass bong king in the current law, and glass bong king has been hovering on the edge of the law.

  In November 2019, the state tobacco monopoly administration and the state administration for market supervision issued a notice on further protecting minors from glass bong king, banning the sale of glass bong king on the Internet. The rapid development of glass bong king has impacted the brakes.Since then, regulation has become the sword of Damocles hanging over glass bong king, which was used in the industry's first shuffle.

  In 2020, the glass bong king industry, once out of the public eye, quietly started a second wave of reshuffles in the face of the outbreak, including the voices of some "star" brands struggling to survive.The company faces 50 per cent job cuts, while Mr Fu is accused of laying off more than 70 per cent of staff.

  According to the world tobacco development report 2017, the global glass bong king market has reached us $12 billion, of which 94% is overseas market.The global glass bong king market is expected to reach $48bn by 2023, with a compound annual growth rate of 26 per cent.

  On this basis, the penetration rate of glass bong king in China is less than 1%, but the number of smokers is large, so the development potential of glass bong king market in China is huge. Assuming that the penetration rate of glass bong king reaches 10% in the future, the corresponding market size can reach 100 billion.

  Media consulting company recently released "China lookah glass for sale grass industry market operation monitoring report 2020".Data show that the size of China lookah glass for sale market in 2019 was 7.86 billion yuan, an increase of 26.6% over 2018.In 2020, the size of China lookah glass for sale market will keep growing, and it is expected to exceed RMB 9 billion by 2021.
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  As you can see, there is still a lot of room for incremental growth in the lookah glass for sale market.Insiders believe that the lookah glass for sale industry is likely to move from a war of one thousand cigarettes to a phase of relative oligopoly due to both the ban and the epidemic.At the same time, the industry still faces many uncertainties.On the one hand, the public has been skeptical about its safety and addiction, and no obvious conclusion has been reached.On the other hand, the regulatory policies and standards of lookah glass for sale are not perfect.

  In June 2019, the official website of the standardization administration said that the mandatory national standard of "lookah glass for sale" had been reviewed and is currently in the status of approval, which is expected to be released within the year according to the schedule of the project plan.

  In July 2019, the National Health And Health Commission said it was working with authorities to study the regulation of lookah glass for sale, And planned to legislate to regulate lookah glass for sale.The two national lookah glass for sale standard development plans, once formally released, are expected to further drive the glass bong king industry toward a specification development direction.

  Industry insiders say the most critical part of the glass bong king industry standard is tobacco oil, and public concerns about its safety and addiction are concentrated.According to consulting data from AI media, for netizens with smoking habits, the biggest concern about using glass bong king was the quality of the product (39.3 percent), followed by taste, price, difficulty in using and limited access to the product.

  Since its inception, glass bong king has been considered a safe alternative to traditional cigarettes and a helpful way to quit smoking.From the composition point of view, the traditional cigarette will produce more than 4000 harmful substances, such as tar, nicotine, phenols, alcohols, acids, aldehydes and so on.The main ingredients of glass bong king are PG(propylene glycol), VG(vegetable glycerin), flavor, nicotine and flavoring additives.

  So far, whether glass bong king is good for smoking cessation and harmful to health remains controversial.The royal college of medicine, the food and drug administration (FDA), the centers for disease control and prevention (CDC) and others are reportedly conducting studies related to glass bong king.

  Glass bong China originated in China.In 2004, Chinese pharmacist han li produced the first batch of commercial e-cigarette products, such as smog, which soon swept the domestic and foreign markets.Glass bong China also entered the great smog era and became a plaything in ethnic circles.In Europe and the United States, glass bong China has become a fashionable way for teenagers to socialize due to its heavy smoke and high playability, forming a steam subculture (swallowing smoke).

  The advent of nicotine salt technology ushered in new changes in the glass bong China industry.Tobacco oils made from nicotine salts are known to give smokers higher levels of nicotine and are much less irritating to the lining of the mouth or throat.Since then, glass bong China devices have no need to rely on powerful devices to satisfy the taste of use, officially entering the era of small cigarettes.