LONDON--(BUSINESS WIRE)--Technavio analysts forecast the e-cigarette market in the UK to grow at a CAGR of close to 30% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
The impending Brexit is one of the major trends being witnessed in the e-cigarette market in the UK 2018-2022. The UK is set to exit from the European Union (EU) on March 29, 2019, as voters in the nation had cast their votes in favor of leaving the EU on June 2016. This will help the market grow as the regulations of the EU pertaining to e-cigarettes will no longer be applicable to the market in the UK.
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According to Technavio analysts, e-cigarette being considered as safer than other tobacco products is a major driving factor for the market.
E-cigarette market in the UK: Safer than other tobacco products
Smoking tobacco products causes more than six million deaths every year globally. This includes six hundred thousand non-smokers who are subjected to passive smoking. Respiratory diseases, cancer, and heart diseases are a few health problems that smoking tobacco products induce. Hence, experts in the UK are urging smokers to switch to e-cigarettes to reduce the aftereffects of smoking.
According to a senior analyst at Technavio, “E-cigarettes produce a flavored aerosol that is responsible for delivering nicotine to the lungs, which stimulates tobacco smoking without delivering toxic chemicals like tar to the lungs. Since e-cigarettes deliver nicotine without burning tobacco, they are considered less toxic and safer alternatives to conventional cigarettes.”
Global anesthesia disposables market: Segmentation analysis
The e-cigarette market in the UK research report analyses market segmentation by product (modular e-cigarettes, rechargeable e-cigarettes, and disposable e-cigarettes and by distribution channel (supermarkets and hypermarkets, specialist retailers, and convenience stores). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major products, the modular e-cigarettes segment held the largest market share in 2017, contributing to over 55% of the market. This product segment will dominate the global market throughout the forecast period.
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Five Forces Analysis
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