U.K. Electronic Cigarette Market Outlook (2018 to 2032)
Synopsis
The above chart is U.K. Electronic Cigarette Market Outlook (2018 to 2032)
Market Dynamics
The united kingdom’s vaping industry has been on the rise for several years and is currently the largest in europe. in 2018, the u.k.’s electronic cigarette market brought in an estimated 2 billion gbp in revenue and was expected to grow by 6% in 2019. this growth was projected to increase by 4% a year over the next two years, reaching 3 billion gbp by 2022. but what about the longer-term outlook? an analysis of the u.k.’s electronic cigarette market trends suggests that the industry’s future is positive. during the period 2018 to 2032, projections show that the u.k.’s vaping industry will continue to grow steadily, reaching 11 billion gbp by 2032. this growth will be due to a variety of factors, specifically increased public awareness about the benefits of vaping, improved access to products, and increased competition among vendors. in terms of public awareness, u.k. health authorities have acknowledged the potential harm reduction advantages of vaping compared to traditional cigarettes. this has led to increased promotion of vaping among smokers. additionally, e-cigarettes have become more socially accepted over the years with many pubs, clubs and cafes now allowing customers to vape indoors. furthermore, access to products has also improved drastically. in the past, buying e-cigarettes meant trekking to physical vape shops, while ordering online would often take weeks to arrive. now, online retailers offer next-day delivery, and the number of physical stores has grown to meet demand. finally, competition among vendors has also led to increased innovation in product design, taste, and marketing. u.k. companies have raised the bar in terms of product design, offering devices with longer battery life, adjustable wattage, and interchangeable tanks. at the same time, e-liquid manufacturers have created an array of flavors and nicotine levels to suit the individual palate. these improvements have made e-cigarettes appealing to a wider audience. all these factors combined, it is clear that the u.k. electronic cigarette market is set to continue its growth trajectory in the coming years. by 2032, the total value of the vaping market is projected to reach 11 billion gbp. this will be a major boon for the u.k. economy and could be a game-changer for public health.
