The U.K. e-cigarette market is forecast to reach $6,486.5 million by 2024, registering a CAGR of 19.6% during the forecast period. The growth can be attributed to advancement in product design, growing demand for vaping devices, and fall in tobacco smoking due to rising, according to P&S Intelligence.
Insights into the market segments
On the basis of gender, the market is categorized into male and female. Of these, male consumers dominate the U.K. e-cigarette market, where the segment generated majority of the revenue share in 2018. Prevalence of more male traditional cigarette consumers in the country, opting for e-cigarettes have been a major factor for the large-scale adoption among male consumers. As of 2018, the country had 3.2 million e-smokers, dominated by male consumers, however, the female category has been recognized as a growth target by the e-cigarette manufacturers leading to more targeted marketing campaigning across the region. This is expected to increase the number of female e-cigarette consumers in the coming years.
Based on age group, the market is segmented into 16-24, 25-34, 35-44, 45-54, 55-65, and 65+. As of 2018, consumers within the age group of 16-24 held the largest share in the U.K. e-cigarette market. It has been observed that e-cigarette smokers from urban areas and having higher educational levels contributed maximum to the 16-24 age group in the e-cigarette market.
On the basis of distribution channel, U.K. e-cigarette market is classified into vape shops, online, hypermarket/supermarket, tobacconist, and others, wherein others include convenience stores, gas stations, vending machines, pharmacies, and general shops. Of these, vape shops held the largest share in the market in 2018. According to U.K. Vaping Industry Association (UKVIA), around 2,000 vape shops existed as of 2017 and a greater number of such shops are expected to come-up in the coming years. On the other hand, during the forecast period, demand for e-cigarettes is expected to grow at the highest pace from online channels.
Growing health awareness
Growing awareness pertaining to the harmful effects of smoking is increasing day by day across the country. This has resulted in the development of alternatives that help consumers quit traditional cigarettes. Cancer caused by smoking is one of the major concerns affecting the populace. E-cigarette eliminates the risk of cancer and prevent the intake of more than 4,000 chemicals that are present in a tobacco cigarette. Due to various benefits offered by e-cigarettes such as no tobacco content, negligible toxins and carcinogens that lead to cancer over traditional cigarettes, further enhances its adoption over the globe.
Browse report overview with 47 tables and 39 figures spread through 109 pages and detailed TOC on "U.K. E-Cigarette Market Research Report: By Product (Cig-a-like, Vaporizer, Vape Mod, T-Vapor), Gender, Age-Group, Distribution Channel (Vape Shops, Online, Hypermarket/Supermarket, Tobacconist), Regional Insight (England, Wales, Scotland, Northern Ireland) – Size, Share, Competition Analysis, and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/uk-e-cigarette-market
U.K. E-Cigarette Market Competitive Landscape
The U.K. e-cigarette is a fragmented market having high competition. Companies such as Imperial Brands plc, British American Tobacco plc, Japan Tobacco Inc., and Philip Morris International Inc. are the leading players in the market. Of these top four players, Japan Tobacco Inc. held at third position in the market in 2018, driven by its reputation and increasing availability of its international e-vapor brands such as Ploom and Logic.
Some of the key players operating in the U.K. e-cigarette market are Philip Morris International Inc., British American Tobacco p.l.c., Altria Group Inc., Japan Tobacco Inc., Imperial Brands PLC, JUUL Labs Inc., Shenzhen iSmoka Electronics Co., Ltd., Shenzhen IVPS Technology Corporation Ltd., Innokin Technology Co. Ltd, Shenzhen Kanger Technology Co., Ltd., and Pax Labs Inc.
U.K. E-Cigarette Market
Market Segmentation by Product
Market Segmentation by Gender
Market Segmentation by Age-Group
Market Segmentation by Distribution Channel
Market Segmentation by Region
U.K. E-Cigarette Aftermarket Segmentation
Market Segmentation by Region