Industry News

UK vape market to grow to $1.2 billion by 2025

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Update time : 2022-07-26 11:25:46
Recently, according to the report "UK Electronic Cigarette Market by Product and Distribution Channel - 2021-2025 Forecast and Analysis" released by market research agency Technavio, the UK electronic cigarette market will grow by 12.20% year-on-year in 2021, with a compound annual growth rate during the forecast period. Growth is 13% and is expected to grow to $1.2 billion in 2025.
The market is segmented by product (modular e-cigarette, rechargeable e-cigarette, and disposable e-cigarette) and distribution channel (offline and online). The modular e-cigarette segment is expected to witness significant market share growth during the forecast period. According to the report, the e-cigarette market in the UK is fragmented, and e-cigarette suppliers are deploying growth strategies such as product launches and business expansion to compete in the market.
The safety of e-cigarettes compared to other tobacco products is driving the growth of the UK e-cigarette market. E-cigarettes release nicotine without burning tobacco. As such, they are considered less toxic and a safer alternative to traditional cigarettes. Smokers in the UK are turning to e-cigarettes to reduce the after-effects of smoking. Additionally, some players are working to reduce the amount of nicotine in their products.
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