Industry Statistics and Trends
Market size and recent performance (2016-2031)
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated £238.3m in 2026.
Trends and Insights
The abundance of cheap Chinese imports constrains revenue for UK manufacturers
- The UK's e-cigarette market is heavily influenced by imports, with China accounting for 86.4% of all e-cigarette imports in 2024, according to HMRC. This significant market share highlights China's dominance in the production and export of e-cigarettes, accounting for over 90% of global production in 2023, according to Tobacco Insider.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2026-2031)
Market size is projected to grow over the next five years.
Trends and Insights
Nicotine pouches pose a substitution threat to e-cigarette manufacturers
- The rapid growth of nicotine pouches presents a formidable challenge to the UK's e-cigarette industry, as these products emerge as a strong alternative for consumers seeking nicotine without the use of vapour devices. In January 2025, a survey by Action on Smoking and Health reported that adults regularly using nicotine pouches rose to 1.1%, with those having ever used them reaching 6%, both more than doubling since 2020. This rapid adoption signifies the increasing preference for discreet, smokeless nicotine consumption.
Biggest companies in the E-cigarette Manufacturing in the UK
| Company | Market Share (%)
2026 | Revenue (£m)
2026 |
|---|---|---|
GHC Global Ltd | 2.7 | |
Magflo Ltd | 1.8 | |
Go For It Trading Limited | 0.5 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Closed-system vaping devices, Disposable vaping devices and Open-system vaping devices. Closed-system vaping devices is the largest segment of the E-cigarette Manufacturing in the UK.
Trends and Insights
Closed-system vaping devices benefit from disposables ban
- Closed-system vaping devices are used with pre-filled or disposable pods or cartridges. They typically consist of a small battery that powers a coil that heats the liquid. Because cartridges must be replaced with compatible units, closed-system devices represent a recurring revenue stream for manufacturers beyond the initial device sale.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
The E-cigarette Manufacturing industry includes companies whose primary activity involves the manufacture of open-and closed-system alternative nicotine delivery devices.
What's included in this industry?
Products and services covered in the E-cigarette Manufacturing industry in the United Kingdom include Closed-system vaping devices, Electronic cigarettes and Open-system vaping devices.Companies
Companies covered in the E-cigarette Manufacturing industry in the United Kingdom include GHC Global Ltd, Magflo Ltd and Go For It Trading Limited.Purchase this report to view all 3 major companies in this industry.
Related Terms
Related terms covered in the E-cigarette Manufacturing industry in the United Kingdom include vape, vaping and heated tobacco product.Industry Code
SIC 27.9 - E-cigarette Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The disposable vape ban in June 2025 reshapes the UK e-cigarette market. With imports of disposable vapes declining, British manufacturers can focus on reusable devices, emph...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2016-2025) and forecast (2026-2031)
- Employees, including historical (2016-2025) and forecast (2026-2031)
- Businesses, including historical (2016-2025) and forecast (2026-2031)
- Profit, including historical (2016-2026)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Closed-system vaping devices flourish post-disposable ban. These compliant devices use pre-filled cartridges that require regular replacement, providing manufacturers with a ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2026
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2026
- Major market segmentation in 2026
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
London boasts a highly skilled workforce. Several e-cigarette manufacturers are headquartered in the capital, benefitting from its skilled and deep labour pool.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2026
Tables
- Number and share of establishments in each region in 2026
- Number and share of revenue each region accounts for in 2026
- Number and share of wages each region accounts for in 2026
- Number and share of employees in each region in 2026
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Branding is important for e-cigarette manufacturers. To make their product stand out, manufacturers invest in attractive product designs, often making their vapes brightly co...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2021-2026
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Strategic product timing maximises market demand amid regulatory changes. Jac launched pre-filled pods 9 months before the ban, during peak smoking-cessation periods, showcas...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2022 through 2026
- Major companies in the industry, including market share, revenue, profit and profit margin in 2026
- Overview of GHC Global Ltd's performance by revenue, market share and profit margin from 2020 through 2026
- Overview of Magflo Ltd's performance by revenue, market share and profit margin from 2020 through 2026
- Overview of Go For It Trading Limited's performance by revenue, market share and profit margin from 2020 through 2026
Detailed analysis
- Description and key data for GHC Global Ltd, and factors influencing its performance in the industry
- Description and key data for Magflo Ltd, and factors influencing its performance in the industry
- Description and key data for Go For It Trading Limited, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The 2025 disposables ban was a key regulatory shift in the UK e-cigarette industry. By prohibiting single-use vapes, it addressed concerns about youth use and environmental i...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2016-2031)
- Assistance historical data and forecast (2016-2031)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The ban on disposable e-cigarettes has improved profits by reducing competition from cheap imports. With the removal of low-cost Chinese disposables, UK manufacturers benefit...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2020-2024)
- Coverage Ratios (2020-2024)
- Leverage Ratios (2020-2024)
- Operating Ratios (2020-2024)
- Assets (2020-2024)
- Liabilities (2020-2024)
- Cash Flow & Debt Service Ratios (2016-2031)
- Revenue per Employee (2016-2031)
- Revenue per Enterprise (2016-2031)
- Employees per Establishment (2016-2031)
- Employees per Enterprise (2016-2031)
- Average Wage (2016-2031)
- Wages/Revenue (2016-2031)
- Establishments per Enterprise (2016-2031)
- IVA/Revenue (2016-2031)
- Imports/Demand (2016-2031)
- Exports/Revenue (2016-2031)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2016-2031)
- IVA (2016-2031)
- Establishments (2016-2031)
- Enterprises (2016-2031)
- Employment (2016-2031)
- Exports (2016-2031)
- Imports (2016-2031)
- Wages (2016-2031)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the E-cigarette Manufacturing industry in the United Kingdom in 2026?
The market size of the E-cigarette Manufacturing industry in the United Kingdom is £238.3m in 2026.
How many businesses are there in the E-cigarette Manufacturing industry in the United Kingdom in 2026?
There are 64 businesses in the E-cigarette Manufacturing industry in the United Kingdom, which has grown at a CAGR of 5.9 % between 2021 and 2026.
How may import tariffs affect the E-cigarette Manufacturing industry in the United Kingdom?
The E-cigarette Manufacturing industry in the United Kingdom is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the E-cigarette Manufacturing industry in the United Kingdom?
The E-cigarette Manufacturing industry in the United Kingdom is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the E-cigarette Manufacturing industry in the United Kingdom grown or declined over the past 5 years?
The market size of the E-cigarette Manufacturing industry in the United Kingdom has been growing at a CAGR of 3.5 % between 2021 and 2026.
What is the forecast growth of the E-cigarette Manufacturing industry in the United Kingdom over the next 5 years?
Over the next five years, the E-cigarette Manufacturing industry in the United Kingdom is expected to grow.
What are the biggest companies in the E-cigarette Manufacturing industry in the United Kingdom?
The biggest companies operating in the E-cigarette Manufacturing industry in the United Kingdom are GHC Global Ltd, Magflo Ltd and Go For It Trading Limited
What does the E-cigarette Manufacturing industry in the United Kingdom include?
Closed-system vaping devices and Electronic cigarettes are part of the E-cigarette Manufacturing industry in the United Kingdom.
Which companies have the highest market share in the E-cigarette Manufacturing industry in the United Kingdom?
The company holding the most market share in the E-cigarette Manufacturing industry in the United Kingdom is GHC Global Ltd.
How competitive is the E-cigarette Manufacturing industry in the United Kingdom?
The level of competition is high and increasing in the E-cigarette Manufacturing industry in the United Kingdom.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
