By Oliver Norman, Content Marketing Manager, EDGE Vaping
Vaping emerged as an innovative technology in 2010, catapulting into a worldwide phenomenon by 2017. Initially experiencing a lukewarm reception, it has since become a significant tool for adult smokers seeking nicotine substitutes.
The shift from smoking to vaping is a common one for people looking to cut down on their nicotine intake, and the pursuit of nicotine substitutes is a growing trend. Public Health England has affirmed that vaping poses 95% fewer health risks than traditional smoking, thus becoming a feasible choice for many.
Over time, vaping has garnered a considerable consumer base for differing reasons. Research reveals that about 8.3% of individuals within the UK population (equating to 4.3 million people) now vape.
While the growth of this sector has been swift and lucrative, it hasn’t been without hurdles. Like any new technology, vaping has raised health and safety concerns, and reservations regarding vaping as a cigarette substitute have surfaced. Nevertheless, these issues are being tackled, and an accumulating body of evidence supports the notion that vape devices can mitigate the harm inflicted by tobacco.
The Story So Far
In 2022, disposable vapes rapidly gained traction with consumers, seizing a whopping 90% market share in unit sales. This caused a drop in conventional vaping product sales during the year (although the trend saw a U-turn in December 2022). Disposable vapes found favour with the public due to their convenience and user-friendly nature, boasting eye-catching designs and a plethora of flavours. However, an influx of unregulated variants entering the market stirred safety concerns.
The 2022 cost of living crisis had a profound influence on the e-cigarette sector’s evolution. With only everyday essentials within their financial reach, many consumers had to give up on buying vaping products altogether. Discounters marketing budget-friendly disposable vapes fared the best during the latter half of 2022 as a result; but average consumer expenditure on these also dipped, which indicates the overall impact of the financial crisis on the vaping market.
Looking ahead, we anticipate growth in the vaping industry, with bottled e-liquids and conventional vaping devices and pods making a comeback. Brand loyalty is currently at its lowest, with price and product type playing a much bigger role in driving sales. E-liquid pods are the standout product so far this year, striking a balance between cost-effectiveness and convenience that resonates with most customers.
Retailers should take heed: disposable vapes are on the wane, while pods are gaining momentum. Stocking a diverse array of 10ml nic salt fruit flavours and pods seems to be the golden ticket to bolster profits in 2023.
The Downfall of Disposable Vapes
The disposable vaping controversies that started surfacing in 2021 are now taking hold and shaping consumer behaviour. A rising number of consumers are gravitating towards reusable pod systems, given their comparable convenience. Some brands have introduced non-disposable options from previously disposable-only lines, which have fuelled the growth of pod systems. By creating a sense of familiarity, they have made it simpler for consumers to forgo the ease of disposables in favour of something more long-lasting and ultimately cost-effective.
Trust in disposable vapes has waned due to their detrimental environmental impact, issues of accessibility to youths, and the sale of unregulated products. Research indicates that 7% of 11-17-year-olds currently use disposable vapes, sourced from an array of outlets, including major supermarkets and smaller businesses.
The e-cigarette terrain may shift in 2023/24 due to various factors, including legislative adjustments responding to the rampant use of disposable vapes amongst young people and changes in consumer behaviour amidst the cost-of-living crisis.
Predictions for the Future
Despite hurdles like regulatory shifts, public sentiment, and changing consumer spending habits, the future trajectory of the vaping industry appears encouraging. The surge in popularity of e-liquid pods and reusable devices illustrates that sustainability and convenience are gaining traction as crucial considerations for consumers when selecting vaping products.
Furthermore, the industry needs to address worries over underage accessibility and the environmental repercussions of disposable vapes. The increasing popularity of non-disposable brands might hint at a trend towards more conscientious and eco-friendly vaping habits.
As the sector continues its trajectory of growth and evolution, it’s vital to inform consumers about the advantages and risks associated with vaping, while endorsing responsible usage. Retailers can contribute significantly to this cause by supplying high-quality and regulated products, providing accurate information, and ensuring their sales practices adhere to ethical and legal standards.
In conclusion, the e-cigarette industry has experienced substantial growth and transformation in recent years, and it’s prepared to further evolve moving forward. As consumers become more discerning and particular in their choices, the industry must respond in kind and adapt to their fluctuating needs and preferences.
