E-cigarettes have gained popularity recently and expeditiously, as these are increasingly being used as smoking cessation products. These devices are being marketed as a product which helps to quit the habit of smoking tobacco. When the e-cigarette market gained momentum, Europe lagged behind North America, in terms of product adoption, however, the region is expected to emerge as the global leader in terms of revenue generation. Among the European Union, Britain is switching to e-cigarettes much faster than other EU nations. While the sale of nicotine replacement products has been falling in Europe by over 6% per year since 2014, e-cigarette sales have been growing at double digit rates. The market now has the presence of both leading Big Tobacco players and several small local players leading the revenue generation. As a result, myriad of business opportunities have surfaced in the e-cigarette industry, vape shops being one of them.
Though the market has progressed from the initial hype, the populace is either unfamiliar to or sceptical about the product. Moreover, a large proportion of those who tried vapes were not thorough with the different product types, their features and functioning. Vape shops have played a vital role in educating users and building trust among them. Vape shops are the dedicated brick-and-mortar retail outlets which offer e-cigarette device and components. They provide demos and the facilities of testing and trying different devices, e-liquids, flavors and components. They also provide users with free samples for trial. Thus, they help new users find e-cigarettes that suit their requirements and needs.
There has been a momentous rise in the number of vape shops since 2014 in European countries, with over 12,000 dedicated vape shops in Europe currently which does not include tobacco shops or other retail outlets. Most of these are concentrated in a few countries, namely the U.K., France, Germany, Poland, Italy and Russia which have large e-cigarette markets in terms of value. The recent development of the U.K. exiting the European Union, famously called Brexit, is anticipated to impact the vape shop business in the country significantly. Just as it was speculated at the time of EU TPD (European Union Tobacco Products Directive) implementation, which laid down rules regarding the manufacture, marketing and sale of tobacco and familiar products, which included e-cigarettes. The set of directives also banned companies from advertising vapes as a way to give up smoking tobacco and limited the amount of nicotine in the products.
The U.K., Germany, Poland and France generate the maximum revenue in the e-cigarette market. The implementation of the EU-TPD was followed by shutting down of hundreds of vape shops in various countries, Spain being one such example. The thriving e-cigarette industry may further be adversely affected due to imposition of taxations across a number of countries. In terms of products, bottled e-liquids, personal vaporizers, batteries and atomizers are the most widely sold products through vape shops while rechargeable e-cigarettes and disposables are commonly available in convenience stores and supermarkets.
Researchers have been wary of the so called safer cigarette substitutes as a feasible option for getting rid of the habit of smoking. They are also researching on the effects of habitual vaping and its effect on human body. But the market suggests an upward trend in the revenue by vape shops across the EU. The effect of Brexit on the industry is not very significant now and will be delved into later. BIS Research has done an extensive report on the future of ‘Europe E-cigarette and Vaporizer Device & Aftermarket-Vape Shop Analysis’. The report provides an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at sales@bisresearch.com or call us at : +1 650 228 0182