LONDON, March 28, 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 E-liquid Market' is a meticulous compilation of the various facets of the e-liquid industry. After a thorough analysis of the current trends, the market dynamic chapter includes the key push and pull forces prevailing in the Europe e-liquid market. The chapter 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 across the continent have also been included in the report.
The report involves a mix of 50+ companies chosen on the basis of their market developments, revenue generation and market share in the industry. The companies profiled in the report include Altria, Imperial Tobacco, Japan Tobacco, Reynolds American Inc, British American Tobacco and ECIG International among others.
Key Questions answered in the report:
- How will the key market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
- How will the intensity of competitive rivalry evolve through the forecast period?
- Which factors will be driving the market through the forecast period?
- What factors are currently challenging the Europe e-cigarette and e-liquid market and how can they be addressed through the forecast period?
- Which consortiums are active in the Europe e-liquid 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-liquid types and what is the market size for each of them?
- Who are the key players in the E-liquid e-cigarette market?
With the implementation of smoking bans in public spaces and rise in cigarette taxes, e-cigarette sales have been surging in Europe. As smokers seek to kick the habit, they have been increasingly turn to vaporizers and mods. Thereby, creating a large demand for e-liquids used in these refillable devices. Although, the implementation of EU-TPD has forced a number of smaller players to quit the e-liquid market, the market as a whole will continue to flourish.
While North America previously dominated the e-liquid market in terms of revenue generation, Europe now holds the largest market share of the global market with a value of $XX billion. UK is the largest market in Europe, with a revenue generation of $xx million, and will continue to be so throughout the forecast period. It is followed by Germany, which with its over 2 million vapers, contributes $XX million to the e-liquid market. While Russia, despite having a high prevalence of smokers, has not caught the e-cigarette hype. Less than 1% of Russian currently use e-cigarettes, the country thus presents a large potential e-liquid market for companies to tap into.
The market is expected to be driven by their lack of restriction in public use in contrast to cigarettes, their easy availability, and their cheap cost among others, while it is impeded by increasing regulation and taxation policies. The e-liquid market in Europe is being driven by an increasing number of vape shops that are opening up in different countries. However, owing to the anticipated taxes that might be imposed on the sales of e-cigarettes and e-liquids, many of these shops might actually exit from the market.
Moreover, newer players are resorting to online distribution channels since brick-and-mortar shops require capital investments such as rent and other infrastructure set-up. Several concerns have been raised and statements released regarding the sale of flavors of e-liquids that bear close resemblance to products from the food and beverage industry. As these e-liquids are usually marketed with captivating names resembling eatables, they appeal to youngsters and may lead to the development of a long term habit of e-cigarette use among adolescents. Moreover, they are often mistaken to be edible products by children, among whom several adverse incidents of intake of fatal amount of e-liquids have been reported in the past years. The increasing prevalence of e-cigarette use among youngsters has instigated to ban the sale and use of e-cigarettes and related products to minors.
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