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Aryan Mishra

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U.K. E-Cigarette Market Projected to Experience Major Revenue Boost During the Forecast Period
The market is buoyed by several factors primarily, product innovation and advancement in technology, need for smokeless and ash-less vaping, as well as growing health awareness among the populace., 7/12/2019 - 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.

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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.

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.

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.

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.

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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

• Cig-a-like

o Disposable

o Rechargeable

• Vaporizer

o Open tank

o Closed system

• Vape Mod

• T-Vapor

o Heat-not-burn

o Infused

Market Segmentation by Gender

• Male

• Female

Market Segmentation by Age-Group

• 16-24

• 25-34

• 35-44

• 45-54

• 55-65

• 65+

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