GCC Electronic Cigarette Market Outlook

Gcc electronic cigarette market continues to grow, despite the rise in the price of cigarettes due to increased taxes in a number of countries in the region. the market outlook is positive for the sector, as along with consumers’ preference for health-related products, there is also an increasing demand for vape products for recreational purposes and as a substitute for combustible cigarettes. in 2018, the gcc electronic cigarette market was estimated to be worth around usd 990 million. the market has shown an overall growth of 10% from 2018-2022, with qatar and kuwait leading the region in terms of revenue growth. with the ongoing shift in consumer preference for ‘environment-friendly’ vaping products, electronic cigarette sales are expected to grow significantly in the coming years. the market is expected to reach usd 2.3 billion by 2032, at a cagr of 7.9% during the forecast period of 2018-2032. the market is expected to be predominantly driven by the introduction of innovative products, such as those with advanced sensors, bluetooth and other features, and disposable vapes, as well as product customization, such as refillable cartridges and flavors to cater to different consumer needs. furthermore, increasing investments in research on vaping products further fuels their growth. the e-cigarette market in gcc countries remain tightly regulated. in some countries, such as saudi arabia, there are complete bans on for both importing and selling of e-cigarettes. in the uae and qatar, taxes on vaping products are lower than on combustible cigarettes products, making the devices more affordable and thus attractive to buyers. though anti-smoking campaigns have been successful in reducing the number of smokers in the region, the growing vaping trend is competing with the traditional tobacco smoking market by offering safer and less expensive alternatives. this has been made possible through the presence of numerous retailers and an increasing publicity of vapes via social media. this is expected to further boost the electronic cigarette market in gcc over the years.