On August 6, Philip Morris launched the Veev One, a new closed-pod system e-cigarette, in the UK. This introduction comes amid significant growth in the refillable e-cigarette market, driven by evolving consumer preferences and impending regulatory changes. With its innovative features and strategic market placement, Veev One aims to capture a substantial share of the expanding market.
Growth of the Refillable E-Cigarette Market
Market Expansion
According to market research firm NielsenIQ, the e-cigarette subcategory involving pre-filled nicotine liquid pods inserted into rechargeable devices has grown by 35% since January. This growth reflects increasing consumer interest in sustainable and versatile vaping solutions.
Consumer Trends
Consumers are gravitating towards refillable systems for several reasons:
- Cost Efficiency: Refillable devices tend to be more economical over time compared to disposable options.
- Environmental Concerns: There is a growing awareness of the environmental impact of disposable e-cigarettes.
- Flavor Variety: Refillable systems often offer a wider range of flavors, catering to diverse preferences.
Introduction of Veev One by Philip Morris
Product Features
Philip Morris’s Veev One, launched in three major UK supermarket chains—Sainsbury’s, Morrisons, and Waitrose—as well as on quick-commerce platforms and the branded website IQOS.com, is poised to meet the market’s growing demand for refillable systems.
- Flavors: Veev One is available in 12 pod flavors, categorized into Aromatic, Cool & Crisp, and Warm. Popular flavors include watermelon, blueberry, blue menthol, blue raspberry, strawberry, mango, and tobacco.
- Technology: The device features internal ceramic heating technology for a consistent taste and a low-liquid detection system to prevent burnt tastes.
Recycling Program
In a bid to enhance sustainability, Philip Morris has introduced a recycling program that rewards customers with £5 for returning used pods and devices when making purchases on the IQOS online store.
Market Performance
John Rennie, Commercial Director for Philip Morris Limited in the UK and Ireland, emphasized the success of Veev One across Europe and expressed optimism about its performance in the UK market. The product’s innovative design and technology aim to set it apart as a premium, responsible e-cigarette option.
Competitive Landscape and Regulatory Changes
Response from Imperial Brands
Following the launch of Veev One, Imperial Brands introduced an improved Blu Bar closed-pod device, boasting up to 1,000 puffs per pod. This move highlights the competitive nature of the market as brands strive to offer superior products and capture consumer attention.
Regulatory Environment
The Conservative government announced plans to ban disposable e-cigarettes and restrict flavors that appeal to children, alongside requiring less eye-catching packaging. These changes are designed to reduce youth vaping and promote safer, more responsible consumption patterns.
Impact on Disposable E-Cigarette Market
Disposable e-cigarettes currently dominate the UK’s vaping sales, accounting for 88% according to Imperial Brands. However, the impending ban on disposable devices will likely shift consumer preferences towards refillable systems, presenting both challenges and opportunities for the industry.
Conclusion
Philip Morris’s launch of Veev One marks a significant development in the UK e-cigarette market. As consumer preferences shift towards refillable systems and regulatory changes reshape the industry, Veev One is well-positioned to capitalize on these trends.
FAQs
What is the Veev One e-cigarette?
Veev One is a closed-pod system e-cigarette launched by Philip Morris, featuring 12 flavors and innovative ceramic heating technology for a consistent taste.
How has the refillable e-cigarette market grown recently?
The refillable e-cigarette market has grown by 35% since January, driven by consumer preferences for cost-effective, environmentally friendly, and versatile vaping solutions.
What regulatory changes are affecting the UK e-cigarette market?
The UK government plans to ban disposable e-cigarettes and restrict flavors that appeal to children, alongside requiring less eye-catching packaging.
What is the recycling program introduced by Philip Morris?
Philip Morris’s recycling program rewards customers with £5 for returning used pods and devices when making purchases on the IQOS online store, promoting sustainability.
How does Veev One compare to other e-cigarette products?
Veev One distinguishes itself with its advanced ceramic heating technology, a wide range of flavors, and a commitment to environmental responsibility through its recycling program.
References:
- [NielsenIQ] – Market research and data on consumer trends.
- [IQOS UK] – Information on Veev One and other IQOS products.
- [UK Government] – Updates on regulatory changes affecting the e-cigarette market.
- [Philip Morris International] – Official site for updates and information on new product launches.
