U.K. E-Cigarette Market Recent Trends, Developments, Challenges & Opportunities
Posted by Devanshu Shrivastava on December 9th, 2021
Factors such as the innovation in product design and advancement in e-cigarette technology, rise in demand for smokeless and vaping devices, and fall in tobacco smoking due to the rising health awareness among the populace are expected to drive the growth of the U.K. e-cigarette market at a CAGR of 19.6% during the foreseeable period. According to P&S Intelligence, the market size is projected to reach 6,486 million dollar by 2024 from 2,000 million dollar in 2018.
Moreover, the market is witnessing the trends of changing lifestyle preference and introduction of various flavors and fragrances. The innovation in product design and advancement in e-cigarette technology is one of the main factors boosting the U.K. e-cigarette industry growth. Tobacco manufacturers are focusing on advanced technologies to have a competitive edge in the market, and thus they are introducing several innovative items, which help in improving their footprint across the country.
For example, Japan Tobacco Inc. launched two new flavors of tobacco capsules, namely Pianissimo Aria Menthol and Pianissimo Pineapple Peach Yellow Cooler, in March 2019, for the Ploom TECH brand. Based on product, the U.K. e-cigarette industry is classified into cig-a-like, t-vapor, vaporizer, and vape mod. Out of these, the vape mod category is expected to record robust growth during the forecast period.
This can be ascribed to its advantageous features, including power modulation and flavor customization, which enable users to produce more vapor as per their preference. Furthermore, as per the National Statistics, in 2018, about 37% of the U.K. population tried an e-cigarette at least once. This number is rising at a rate of 24% yearly.
Thus, the innovation in product design and advancement in e-cigarette technology, and the rise in demand for smokeless and vaping devices across the country are projected to propel the market growth in the coming years.
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About the AuthorDevanshu Shrivastava
Joined: January 31st, 2020
Articles Posted: 105
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