The European region is home to countries with some of the highest smoking populations globally; however, the number of conventional cigarette users has been declining since 2010. The issues related to the tobacco consumption in the European market have become less critical, because of the determinable health effects caused due to tobacco consumption and the taxes being levied on tobacco related products. In response to such cause, several health organizations and pharmaceutical companies are working on efficient and scientifically proven smoking cessation products such as nicotine gums and patches. The following figure represents the declining smoking population against the increasing European population:

European Smoking Population Trend
 

 BIS Research Analysis

Europe being one of the largest markets in the e-cigarette industry is home to contradictory regulatory regimes. In most of the member countries, there are strict rules towards the consumption and sale of e-cigarettes and in some countries, such as Greece and Bulgaria among others, e-cigarettes are prohibited. The number of e-cigarette users in UK is increasing, however, the Department of Health states that e-cigarettes are not risk free and new measures are to be introduced by the Medicines and Healthcare Products Regulatory Agency in 2016. Moreover, the e-cigarette and vaporizer industry are subject to different regulatory frameworks across different European countries. Some of the European regions are banning sale and consumption of e-cigarettes, one of the reasons being the lack of regulations on the nicotine content present in e-cigarette and e-liquids being unintentionally filled at a higher dose, leading to certain diseases or nicotine poising. 

Rechargeable e-cigarette kits are one of the prevalent e-cigarette types in the European e-cigarette market and are expected to grow over $1.98 billion by 2025 at a doubled digit CAGR from 2015-2025. The market will observe a reduction of growth in the next few years, as most of the regulatory and policy framework will fall into place. The following figure represents the change in the markets share of the prevalent e-cigarette types for 2015 and 2025:

The European E-Cigarette Market Share (%) by Device Type, 2015 and 2025  

BIS Research Analysis

There are series of laws and regulations being imposed for manufacturing, sale, usage, distribution, advertising, and marketing of e-cigarette and e-liquid in the European regions. The market share of disposable e-cigarettes will continue to decline in the next ten years, whereas, the share of VTMs will increase up to 65% by the end of forecast year.

The e-cigarette market became further fragmented since early 2015 with the aftermarket entering into the industry. The aftermarket primarily constitutes of the e-liquid, atomizers, and batteries. With the increase in the sale of e-liquid (both bottled and pre-filled), there has been a rise in the number of e-liquid players as well. The bottled e-liquid is expected to grow over $XX billion by 2025 with a CAGR of XX%, whereas the pre-filled e-liquid is expected to grow over $XX billion b 2025 with a CAGR of XX% through the forecast period.

The number of distribution channels present in the European e-cigarette industry gives market players the scope to expand both locally and globally through retail and online channels. Several developments are taking place in the market wherein the companies aim at either supplying their products through different retail channels or by opening new stores in Europe and outside. One of the key drivers for the e-cigarette market is the ease of access to the distribution channels. Particularly in the online distribution channel, most of the key players operate via online supermarkets and e-commerce website.

At a global scale, the European e-cigarette market has an upper hand within the industry because of the series of mergers and acquisitions taking place with the big tobacco giants and others.  With the participation of the big tobacco companies and through different modes of distribution channels, the e-cigarette industry is expanding since the year 2012 at a global level.

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