E Cigarette Sales Exceed the $6 Billion Mark
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The popularity of vaping is soaring to new heights as sales of e cigarettes have hit the six-billion-dollar mark and continue to rise. In the UK, sales of gum, patches and other nicotine replacement therapies have plummeted for the first time in many years, and tobacco cigarettes are also experiencing a very noticeable dip.
According to data from Euromonitor International, on global scale sales of e cigarettes, e cig refills, e liquids and other associated products have grown by 59pc to £3.9 billion, pushing over the $6 billion ceiling for the first time yet. Euromonitor is not able to say whether this increase in sales was due to tobacco smokers switching to vaping or because this trend is simply growing bigger all the time, but the evidence is clear that vaping is only getting more and more popular.
Increase in E Cigarette Sales
The UK is now the world’s second largest vaping market, with consumers snapping up electronic devices, e cig refills, cartridges and liquids online and in stores. In 2012, vaping sales in the UK exceeded nicotine replacement products, and just three short years later they are three times higher than the initial research showed.
E cigarettes have long been considered a potential threat to the tobacco industry, and by pushing past the $6 billion barrier it’s clear that they are making a huge impact. Until now, there has been no real competition for tobacco smokers, but with vaping taking centre stage and providing the same level of satisfaction, e cigarettes are providing some impressive rivalry.
At present, the tobacco cigarette industry in the UK is 30 times larger than the e cigarette alternative, although these electronic devices and their cost-effective, environmentally friendly e cig refills and non-pungent vapour are making a big dent in tobacco retail sales. New laws that dictate tobacco cigarettes must have plain wrappers are also causing a drop in sales, and increased taxes are making smoking more expensive.
These factors, coupled with smokers' awareness as to what they are putting in their bodies, are pushing the sales of e cigarettes ever higher. With the exception of China, all other countries seem to be embracing the vaping trend, and it is growing in popularity all the time.