Increasing Demand for Vaping Devices Leading to U.K. E-Cigarette Market Growth
The U.K. e-cigarette market was valued at $2.0 billion in 2018, and it is further expected to grow at a CAGR of 19.6% during the forecast period (2019–2024). E-cigarette is an alternative to a traditional tobacco cigarette; the former heats liquid nicotine or flavors to produce mist instead of burning tobacco and provides a similar smoking sensation on puffing.
When product is considered, the U.K. e-cigarette market is categorized into cig-a-like, t-vapor, vape mod, and vaporizer. Out of these, vaporizers accounted for the major share of the market during the historical period (2014–2018) and are predicted to retain their position during the forecast period, in terms of volume and value.
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The market is growing due to the rising demand for vaping devices, advancements in product design, and fall in traditional smoking prevalence due to increasing health awareness.
The highest CAGR is projected to be witnessed by t-vapors, in terms of value, as these are categorized under reduced-risk products (RRP). Owing to the falling rate of traditional cigarette smoking, RRPs are expected to witness large-scale adoption across the country.
The e-cigarette market in U.K. is growing significantly due to the rising awareness regarding the adverse effects of smoking, which is leading to a fall in the usage of traditional cigarettes. Among the major concerns about smoking is cancer, and as e-cigarettes prevent the intake of more than 4,000 chemicals contained in tobacco, they eliminate that risk.
Factors like this have contributed to the development of alternatives that help people quit traditional cigarettes. Because e-cigarettes enable this and have several other benefits over traditional tobacco cigarettes, they are becoming popular.
U.K. E-Cigarette Market
Market Segmentation by Product
- Open tank
- Closed system
- Vape Mod
Market Segmentation by Gender