An analysis of the category, carried out by the Centre for Economics and Business Research (CEBR) on behalf of the UK Vaping Industry Association (UKVIA), found that the vaping sector grew by 23.4% from 2017 to 2021, an increase of £251m, and stood at £1.325bn in 2021 alone.
The report also found that when indirect economic benefits such as supply chain support and the spending power of vape sector workers is factored in, the economic impact more than doubles to £2.8bn.
The number of people directly and indirectly employed in the vape sector – such as those employed elsewhere in the supply chain – was 17,700 in 2021 while the contribution vaping made to the Exchequer through taxation was £310m in 2021.