E-cigarette Market size in the UK to grow by USD 1.37 billion between 2022 to 2027, The prominence of private-label brands is an emerging trend shaping the growth - Technavio
NEW YORK, Sept. 23, 2023
NEW YORK, Sept. 23, 2023 /PRNewswire/ --The e-cigarette market in UK is expected to grow by USD 1.37 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 12.8% during the forecast period. The prominence of private-label brands is an emerging e-cigarette market trend in UK. However, factors such as the presence of substitute products may impede market growth. The market is segmented by Product (Modular e-cigarettes, Rechargeable e-cigarettes, and Disposable e-cigarettes) and Distribution Channel (Offline and Online). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
The prominence of private-label brands is an emerging e-cigarette market trend. Various major retailers across the UK focus on launching their own branded e-cigarettes to take advantage of the growing demand. Thus, the private label segment has grown in scope and size over the past decade.
As a result, price-sensitive consumers are more likely to purchase private-label products. Furthermore, product innovation helps suppliers gain a competitive edge over their competitors and increase product sales. Hence, such trends boost the market growth during the forecast period.
Key Segment Analysis
The modular e-cigarettes segment will be significant for market growth during the forecast period. Due to their numerous customization options, e-cigarettes offer a better vaping experience and enable control over vapor production, variable voltage, battery power, and e-juice. Also, owing to their widespread market penetration, the demand for modular e-cigarettes is currently high and is anticipated to rise with the release of new products during the forecast period. Therefore, the demand for modular e-cigarettes will increase, which will boost the market segment growth during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View a FREE PDF Sample Report.
Various health issues caused by using e-cigarettes hinder the growth of the market.
The e-cigarette market in UK is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
1111 EC Service Ltd., British American Tobacco Plc, Flavour Warehouse Ltd., Geekvape, Imperial Brands Plc, Innokin Technology Ltd., J WELL France Sarl, Japan Tobacco Inc., LOSTVAPE, Pax Labs Inc., Philip Morris International Inc., RELX International Enterprise HK Ltd., Shenzhen IVPS Technology Co. Ltd., SMOORE International Holdings Ltd., VOOPOO
- View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
- How do the major trends impact the market?
- How do the key drivers and challenges impact the market?
The US - Herbal Cigarette Market size is estimated to grow at a CAGR of 11.31% between 2022 and 2027. The market size is forecast to increase by USD 376.88 million. This US herbal cigarette market report extensively covers market segmentation by distribution channel (offline and online), and type (inorganic herbal cigarettes and organic herbal cigarettes). Herbal cigarettes were introduced by supermarket chains in all parts of the country, which is a key trend in the market.
The Global E-cigarette and Vape market size is projected to increase by USD 66.83 billion and the market size is estimated to grow at a CAGR of 30.41% between 2022 and 2027. The market is segmented by distribution channel, product, and geography. Higher safety compared to other tobacco products is driving the market growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/e-cigarette-market-size-in-the-uk-to-grow-by-usd-1-37-billion-between-2022-to-2027--the-prominence-of-private-label-brands-is-an-emerging-trend-shaping-the-growth---technavio-301935790.html