LONDON, March 21, 2017 /PRNewswire/ -- Europe stands at the forefront of the legal scenario of the global e-cigarette market with a series of laws and regulations for e-cigarette and e-liquid manufacturing, sales, distribution, advertising, and marketing. The e-cigarette industry has been growing exponentially in Europe which is home to some of the largest markets in terms of revenue generation such as the U.K., Germany and France among others. However, a significant share of the European population is still unaware of the pros and cons of e-cigarettes and its components.
Consortiums and associations are present to provide awareness among the consumers and the suppliers in order to get familiar with the ongoing changes within the rapidly growing industry. The prominent consortiums discussed in this segment are The Medicines and Healthcare Products Regulatory Agency (MHRA), Tobacco Vapor E-cigarette Association (TVECA) and British Medical Association among others.
Since 2012, the market has undergone a transformation, due to a series of major acquisitions, product launches, and partnerships taking place among other market activities. European countries have established a reputation of following rigid policies and consequentially certain restrictions have already been implemented by the European Union- Tobacco Products Directive (EU-TPD), in regards to updating the laws, rules and regulations governing the e-cigarette industry.
The report on the 'Europe Vape Shops Market' is a meticulous compilation of the various facets of e-cigarette distribution through vape shops. After a thorough analysis of the current trends, the market dynamic chapter includes the key push and pull forces prevailing in the Europe Vape Shops Market. The report also includes the consumer's perspective and buying decision covering aspects that influence consumer behavior. Owing to the dependency of the market growth on the legal and regulatory framework, the report at each step has considered the effect of laws (both implemented and anticipated) in terms of regulations and taxation in estimation and forecast of the market size. Moreover, the key consortiums and compliance influencing the e-cigarette and e-liquid market for vape shops across the continent have also been included in the report.
The report encompasses a thorough analysis of the vape shops and the consequent revenue generation though the same for the coming decade. The key countries have been divided into clusters and the revenue estimation and forecast has been completed accordingly.
Key Questions answered in the report:
- What is the current scenario of Vape Shops in Europe?
- How will Brexit affect the revenue generation from Vape Shops in the U.K.?
- Which factors will be driving the market through the forecast period?
- What factors are currently challenging the Europe Vape Shops e-cigarette and e-liquid market and how can they be addressed through the forecast period?
- Which consortiums are active in the Europe e-cigarette market?
- How are the regulatory bodies such as the MHRA, EU-TPD and WHO among others participating in the industry?
- Which compliances and certifications are necessary to make a product acceptable among the users (especially the first time vapers)?
- What are the prevalent e-cigarette and e-liquid types sold through vape shops and what is the market size for each of them?
- Which are the key countries in terms of revenue generation through vape shops in Europe?
When the e-cigarette market gained momentum, Europe lagged behind the U.S. in terms of product adoption, however, the region has now emerged as the global leader in terms of revenue generation. E-cigarettes are increasingly being used as smoking cessation products, while the sale of nicotine replacement products has been falling in the region by over 6% year by 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 consequence, multiple business opportunities have surfaced with the vaping industry, vape shops being one of them.
Since the market is still in the initial stages of its growth, there is a significant share of population which is still unaware or skeptical about the pros and cons of using e-cigarettes and has never used them. Moreover, a large proportion of those who tried were not thorough with the different product types and their features and functioning. Vape shops play 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 usually 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 purposes. Thus, they help new users find e-cigarettes that suit their requirements and needs.
There has been a significant surge in the number of vape shops since 2014 in European countries. There are over 12,000 dedicated vape shops in Europe currently which does not include tobacco shops or other retail outlets (brick-and-mortar). Most of these are concentrated in the small number of 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 is anticipated to impact the vape shop business in the country as significantly as it was speculated at the time of EU TPD implementation. Currently, there are no significant changes, however the situation will be more critically analyzed in 2017.
The U.K., Germany, Poland and France generate the maximum revenue. Russia as a market, has been identified as an opportunity for vape shop owners, owing to the high smoking population and low vape shop count. 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.
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