The Europe E-Cigarettes Market is expected to register a CAGR of 12.90% during the forecast period.
The E-cigarette Market in Europe is experiencing robust growth due to increasing consumer interest. In an e-cigarette, a heating element (atomizer) is used for the combustion of the liquid mixture, a mouthpiece that assists with inhalation, and a reservoir that holds the liquid solution. This means that E-cigarettes are a relatively safer alternative to conventional cigarettes since it does not burn tobacco, which produces tar and carbon monoxide, which is the reason why the demand for e-cigarettes in Europe is increasing. The aggressive marketing of e-cigarettes in the European region has also led to a substantial increase in consumers opting for these devices, especially young adults and adolescents.
European countries like the United Kingdom and France are not supporting the WHO studies and still consider e-cigarettes as having a less harmful impact on health than traditional tobacco. Thus, the E-cigarette Market in Europe is on the rise due 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 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 compared to conventional/combustible cigarettes is driving the market's growth in the region.
Specialist retail stores such as tobacconists and vape shops have been observed to be the most popular channel. The introduction of the Tobacco Products Directive 2014/14/EU (TPD) in the European Union has impacted the online retail channel, owing to which a few countries in the region have banned cross-border distance sales of e-cigarettes.
The Europe e-cigarette market is consolidated and comprises a few prominent players who hold most of the share in the market. Key strategies adopted by the major players are product innovation and mergers and acquisitions.
Key players are investing in R&D to develop and launch new and innovative products to cater to the ever-increasing demand for new products from consumers across the world. With the increasing number of health-conscious consumers worldwide, major players are adopting several strategies to draw consumers' attention by introducing products with new technological advancements.
Increasing firm concentration ratio and advertising expenses by companies are also strengthening the competition. Also, the players continuously launch new products to retain and strengthen their market positions. Some of the major players in the market are British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Imperial Brands PLC, and Japan Tobacco Inc.
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