U.K. E-Cigarette Market 2019-2024 | Evolving Opportunities with Altria Group Inc. and British American Tobacco Pl
Respiratory diseases are among the biggest killers across the world, with the World Health Organization reporting in 2017 that 3 million people die from chronic obstructive pulmonary disease (COPD) and 1.6 million succumb to lung cancer each year, while 1.4 million died of tuberculosis (TB) in 2015.
One of the major causes of such health issues in cigarette smoking, and with the rising prevalence of such problems, the awareness of people on the harmful effects of smoking is also rising. Consumers are realizing that tobacco cigarettes have around 4,000 chemicals that lead to such deadly diseases.
From $2.0 billion in 2018, the e-cigarette market in U.K. is projected to grow to over $6.4 billion by 2024, at a 19.6% CAGR during 2019–2024 (forecast period). Vape mods, vaporizers, cig-a-likes, and T-vapors are the various times of electronic smoking devices.
Among these, vape mods are expected to grow significantly in demand during the forecast period, as they let users customize the flavors contained in the vial. The introduction of various flavors by e-cigarette manufacturers is already a key trend in the country. Users are getting drawn to mint, menthol, cola, chocolate, and bubble gum as well as fusion flavors.
Several vaping devices now come with a customization option, where consumers can mix their own do-it-yourself (DIY) juice (smoking liquid). People get a base liquid, along with flavoring additives, with the e-cigarette.
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This offers consumers an enhanced smoking experiencing, which is why an increasing number of users of tobacco-based devices are switching to electronic variants. To tap the demand and make the most of it, manufacturers are expanding their flavor portfolio to include exciting products.
Another key U.K. e-cigarette market growth driver is the growing consumer base of vaping devices. As conventional cigarettes are also harmful to the environment, with people flicking the ash and incorrectly disposing of the cigarette buts after use, these are prohibited in certain places. But, as electronic smoking devices do not lead to such issues, their use is accepted at places where regular cigarettes are banned, which is pushing the demand for e-cigarettes.