The electronic cigarette market - Spain

Electronic cigarettes are alternative smoking devices designed to offer an alternative to traditional cigarettes, with the vaporization of a flavored e-liquid that may potentially contain nicotine. E-cigarettes produce vapor without the more harmful effects of traditional cigarettes. Globally, the e-cigarette market experienced strong growth in the early 2010s, before slowing its rate of growth slightly since 2019. The world's five biggest markets are: the USA, the UK, Canada, Germany and Russia, while a number of countries still prohibit its use (Thailand, Taiwan, Singapore, etc.) or import (Argentina, Cambodia, etc.). The Juul company is the number 1 player in the sector, but a host of retailers and online companies are also doing well. In Spain, the e-cigarette market grew strongly until 2022, generating 185 million euros[Metropoli]. However, the increasingly restrictive regulations adopted by the authorities could be a powerful brake on its development. By 2022, the control regime for the manufacture, distribution and retailing of e-cigarettes and new tobacco devices - such as vapes - is set to be gradually aligned with that of traditional tobacco, within a five-year timeframe. However, the market benefits from solid fundamentals, with the presence of major companies such as Vype, Imperial Tobacco, BAT and Blue.