P&S Intelligence issued the following announcment on July 8.
According to the market research report published by P&S Intelligence, 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. As of 2018, the country had 3.2 million e-smokers, dominated by male consumers, however, the female category has been recognized as a growth target by the e-cigarette manufacturers leading to more targeted marketing campaigning across the region. This is expected to increase the number of female e-cigarette consumers in the coming years.
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.
Browse report overview with 47 tables and 39 figures spread through 109 pages and detailed TOC on "U.K. E-Cigarette Market Size, Share, Competition Analysis, and Growth Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/uk-e-cigarette-market
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. E-cigarette eliminates the risk of cancer and prevent the intake of more than 4,000 chemicals that are present in a tobacco cigarette. Due to various benefits offered by e-cigarettes such as no tobacco content, negligible toxins and carcinogens that lead to cancer over traditional cigarettes, further enhances its adoption over the globe.
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. Of these top four players, Japan Tobacco Inc. held at third position in the market in 2018, driven by its reputation and increasing availability of its international e-vapor brands such as Ploom and Logic.
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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.
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