There is a great deal of uncertainty in the UK right now due to Brexit as it is impossible to say what the near future holds. Many different industries will be heavily impacted by Brexit and one which will certainly change is the vaping industry.
So, how can we expect things to change in this enormous industry? It is impossible to say right now with no deal currently struck, but these are the main areas that could be affected.
Rules & Regulations
First, it is likely that there will be a revision in the rules and regulations regarding vaping. Currently, the industry is regulated by the Tobacco & Related Products Regulations (TRPR) which is the implementation in the UK of the Tobacco Products Directive (TPD) which was published by the EU.
This much-criticised legislation regulates aspects like tank size, nicotine strength and advertising laws and it has been agreed that this legislation will be reviewed after leaving the EU.
Impact on Vapers
For vapers, Brexit could bring an improvement to the products on the market. The UK is the second biggest market for vape products behind the US so it has embraced vaping more than other EU countries.
This means that there is likely to be a big change to legislation regarding tank size, nicotine content and bottle size all of which could benefit those that vape as there will be a greater variety available from places like VIP.
Impact on Vape Businesses
The vaping industry is one which has piqued the interest of entrepreneurs due to the fact that it is so fast growing particularly in the UK. It attracts smokers who are looking to quit but it has also developed into a unique subculture which makes it an enticing prospect for those looking to start a new business.
Despite this, the controversial TPD directive has had a negative impact on the industry when it was introduced because it made it more expensive to bring products to the market so they had to raise their prices and limit consumer choice.
If this legislation is reviewed and changed following Brexit, it could take away these limitations and help SMEs to easily setup vape stores and sell a wide range of products at a reasonable price.
Therefore, it is important for entrepreneurs to keep their eyes peeled for developments related to vaping and regulations following the UK’s withdrawal from the EU (although it could take a long time for any changes to happen).
Overall, Brexit could have an enormous impact on the vape industry and change the landscape for both consumers and businesses.
Within the industry, Brexit can be recognised as a benefit because it is in the public’s best interest to switch to vaping products as it is a healthier alternative yet the current limitations do not encourage people to take up vaping and quit smoking.