According to industry data, sales of cigarettes, cigars, and loose tobacco declined precipitously in 2023, while vaping goods grew at the quickest rate in UK grocery stores for the second year in a row.

In October, the British government suggested that younger people should never be allowed to purchase cigarettes, and Prime Minister Rishi Sunak stated that action against juvenile vaping was also necessary.

Additionally, the World Health Organisation (WHO) threatened the bets tobacco corporations have placed on smoking alternatives on Thursday by urging states to treat e-cigarettes similarly to tobacco and to outlaw all tastes.

The value sales of vaping products in Britain increased to 897.4 million pounds ($1.15 billion) in 2023, as per data released on Saturday by The Grocer and industry researcher NIQ.

According to research, the Lost Mary brand, which is owned by the Chinese vaping company Heaven Gifts, had the fastest growing sales in the UK last year, rising by 310.6 million pounds over the previous year.

According to NIQ, sales of vaping goods increased in terms of volume, or how much was purchased, while sales of loose tobacco, cigars, and cigarettes decreased in terms of sales value by 849.1 million pounds and 393.1 million pounds, respectively.

Sales of sport and energy drinks saw an additional growth of 390.1 million pounds, driven by the viral popularity of Prime Hydration, a brand endorsed by YouTubers Logan Paul and KSI and marketed by Congo Brands.

According to NIQ, inflation was the primary cause of several of the food categories that grew the fastest in 2023. Value sales of fresh meat, cheese, milk, and poultry increased dramatically while masking volume reductions.

Sales of chocolate, sweet biscuits, and packed snacks reportedly decreased on a volume basis as well.

Meatless items had a sharp decrease, falling 34.8 million pounds both in terms of volume and value.

Additionally, according to NIQ, own label sales rose by 12.8% as consumers looked for value by forgoing branded goods, which are typically more costly.

(Adapted from StraitsTimes.com)

Categories: Economy & Finance, Regulations & Legal, Strategy, Uncategorized