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Europe E-Cigarettes Market - Growth, Trends and Forecasts (2020 - 2025)

Europe E-Cigarettes Market - Growth, Trends and Forecasts (2020 - 2025)

  • August 2020
  • 104 pages
  • ID: 5962002
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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Europe E-Cigarettes market is estimated to witness a CAGR of 12.98% during the forecast period (2020 - 2025).

- The E-Cigarettes market in Europe is on the rise owing to the increased use by consumers driven by health concerns and have observed desired results in their attempts to quit/ decrease their usage of conventional/ combustible cigarettes. Despite concerns being voiced by a few medical professionals over the long-term usage of e-cigarettes, the low-risk factor associated with the use of e-cigarettes in comparison to conventional/ combustible cigarettes is driving the growth of the market in the region.
- Specialist retail stores such as tobacconists, vape shops have been observed to be the most popular channel. The online retail channel has been impacted by the introduction of the Tobacco Products Directive 2014/14/EU (TPD) in the European Union, owing to which a few countries in the region have banned cross-border distance sales of e-cigarettes.

Key Market Trends
Rising Dual-Use Among Consumers

Aiming to reduce their use of conventional/ combustible cigarettes, consumers in the region are increasingly using use e-cigarettes concurrently. Also, as e-cigarettes mimic the experience of smoking conventional/ combustible cigarettes, consumers are increasingly using them to satisfy their nicotine dependency. This dual-use has significantly increased the number of e-cigarette users in the region and is expected to drive the market over the forecast period, as it has been observed that dual users usually aim to gradually decrease their use of conventional/ combustible cigarettes over time, which increases the prospect of repeat purchase of e-cigarettes in the region.

United Kingdom to Hold A Significant Market Share

The United Kingdom is the largest market for e-cigarettes in Europe, the second-largest market in the world, owing to which it is driving the market in the region. E-cigarette use in the country is growing owing to the rising number of users coupled with support from health authorities. Unlike the U.S. where e-cigarettes have not yet been approved as a cessation device, authorities in the U.K. believe these devices to be a means for people to transition from the much harmful habit of using conventional/ combustible cigarettes. On the distribution front, it has been observed that the online retail accounts for a significant share of the market and, the fastest growing channel to be specialist vape shops.

Competitive Landscape
Europe E-Cigarettes market is consolidated and comprises of a few large players, who hold most of the share in the market. Key strategies adopted by the large players are product innovation and, mergers and acquisitions. Some of the major players in the market are British American Tobacco plc, Philip Morris International Inc., Altria Group, Inc., Imperial Brands plc, Japan Tobacco Inc., among others.

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