A fast growth rate of the e-liquid market in the UK and other regions of Europe is mainly due to the consolidated nature of the market. Due to certain regulatory policies in Europe considered to be under revision, new players have a comparatively easier entry and exit in the industry; and hence, are acting as driving forces for the European e-liquid market.
The supply chain of this market is a concentrated hub of both the online sellers, and brick and mortar stores. The Brick and mortar stores consist of the convenience stores, pharmacies, gas stations, and vape shops. Online stores are gradually gaining popularity, but the major portion of revenue in this industry is generated from the retail brick and mortar stores. Due to threat of security breach and increasing number of fraud cases, people now prefer to buy from retail stores over online stores. Market players such as Hangsen, Njoy, and JacVapour are providing online e-liquid products, while Vype, S& Heaven, Nicocig and Nicolites are taking advantage of the retail convenience store preferences of the consumers.
E-cigarettes and e-liquids are classified as medicines in 14 of the EU member states, including Belgium, and are actively sold in pharmacies. Whereas in regions like France, these are considered consumer products, and enables manufacturers to design, package, and promote, and finally sell in vape stores.
Even in the presence of stringent regulations and governmental interventions, the convenience stores alone are contributing US $540 million in the e-cigarette sales. In the U.K., there are over 600 vape shops, which effectively demonstrate the dominance of convenience stores over the online stores in the Europe e-liquid market.
This market is on the path of spectacular development, giving rise to a form of renewed energy in the recreational drug industry in the region. However, it is imperative for the regulatory bodies and institutions to formulate effective laws and policies around the products, in order to contribute to better standards of public awareness and utility.