British e-cigarette output value of 2.8 billion pounds in 2021: driving 18,000 full-time jobs

The total turnover in the UK hit £2.8bn last year as a record number of smokers switched to vaping.

Blue hole new consumer report, news on December 1, according to foreign reports, the fast-growing e-cigarette industry in the UK has officially become a multi-billion pound industry, providing employment opportunities for nearly 18,000 full-time employees and earning money for the treasury. One hundred million U.S. dollars.

Meanwhile, switching adult smokers to vaping would save the NHS (National Health Service) around a third of a billion pounds - a figure estimated to be 50% higher if 50% of UK smokers switched to vaping. more than doubled.

These are just two of the main findings of the first-ever study to measure the impact of vaping on the UK economy.

While the high street has generally suffered in recent years, e-cigarette retail outlets have bucked the trend and become one of the fastest-growing industries since they first emerged in the 1920s.

Produced by the Center for Economics and Business Research (Cebr), the report examines the direct economic contribution of e-cigarettes and their wider footprint, taking into account factors such as supply chains and wider spending facilitated by the industry.

From 2017 to 2021, the overall turnover of the UK e-cigarette industry increased by 23.4%, an increase of 251 million pounds, reaching 1.325 billion pounds last year alone. When the economic impact is factored in indirect economic benefits such as supply chain support and the spending power of workers in the vaping sector, the economic impact more than doubles to £2.8bn.

In 2021, the number of people directly and indirectly employed in the vaping industry (e.g. employed elsewhere in the supply chain) is 17,700.

E-cigarettes will contribute £310m to UK finances through taxation by 2021.

The vaping industry also has wider socioeconomic benefits, most notably its positive impact on the health economy.

Cebr's report estimated the total savings in healthcare costs associated with smokers switching to vaping products in 2019 was £322m. The research body went on to say that "the potential healthcare cost savings if 50% of smokers switched to vaping" would be £698m in 2020.

The economic productivity gain associated with smokers switching to vaping products was estimated to be £1.3bn in 2019, a figure that would increase to £3.33bn if 50% of the remaining UK smokers switched to vaping, according to the study.

Owen Good, Director of Economic Consulting at Cebr, said: "The results of the first-ever Economic Impact Report on the vaping industry demonstrate its tremendous success as a rapidly growing and disruptive industry.