In the past year Italy has witnessed a resurgence in the number of its citizens that have taken up vaping, following a sharp decline in the number of those that vaped during the country’s financial crisis, which worsened in 2014.
The Italian vapor product market’s estimated worth in 2016 is €295 million, indicating a growth of 300% over the previous year, according to a market report released by ECigIntelligence, an independently operated organization tracking regulatory change and market intelligence for the e-cigarette and tobacco alternatives sector.
With a decrease in the cost of vaping products sold within the country this year by as much as 44%, and the rising cost of traditional tobacco cigarettes, it seems that more Italians are seeking smoking alternatives and are coming out in force to support Italy’s 1,107 vape shops.
The EU Tobacco Products Directive (TPD) came into play in May with Rome imposing minimum restrictions on the country’s residents. Apart from manufacturers needing to adhere to certain packaging requirements and there being restrictions on purchasing vapor products outside of the country, Italy ’s policy towards vaping remains quite lax compared to countries in and outside of Europe, ECigIntelligence reports.
Despite there being an incentive for smokers to transition to vaping in order to avoid paying the higher tax on cigarettes, taxation has and always will be a critical concern for the growing vapor product industry.