China's e-cigarette exports are estimated at 49.4 billion yuan in 2020, and are expected to more than triple in 2025
China's e-cigarette exports are estimated at 49.4 billion yuan in 2020, and are expected to more than triple in 2025
On December 20, the 2020 4th International Electronic Cigarette Industry Summit Forum, guided by the China Electronics Chamber of Commerce and hosted by the Electronic Cigarette Industry Committee, was grandly held in Shenzhen.
At the forum, Ao Weinuo, secretary-general of the Electronic Cigarette Industry Committee, released the "2020 World Electronic Cigarette Industry Report", focusing on the market size in 2020, export data analysis, and market size forecasts for the next five years.
The report shows that the estimated global retail sales of e-cigarettes in 2020 is 36.3 billion U.S. dollars, which is a 10% increase from the previous year's global retail sales of 33 billion U.S. dollars. In 2020, China's e-cigarette exports are estimated at 49.4 billion yuan (7.559 billion US dollars), compared with 43.8 billion yuan in 2019, China's exports increased by 12.8%. China’s domestic retail sales are estimated at RMB 14.5 billion, a year-on-year increase of RMB 11.2 billion in 2019, an increase of 30%. (Note: The above data does not include heat not burn HNB)
The electronic cigarette market ranks among the top six countries, followed by the United States, the United Kingdom, Russia, China, France, and Russia. New growth areas for e-cigarettes include Eastern Europe, Central Asia, the Middle East, and South America.
Despite the global outbreak of the epidemic in 2020, the demand for e-cigarette products is still strong. The report mentioned that thanks to China's successful epidemic prevention and control, China's e-cigarette industry has resumed work and production, and continues to play a leading role in global manufacturing and exports. China's atomized e-cigarettes and e-cigarettes have become new growth points.
In terms of the export proportion of atomized e-cigarettes, disposable atomized e-cigarettes accounted for 50%, closed atomized e-cigarettes accounted for 24%, and open atomized e-cigarettes accounted for 26%.
In terms of e-liquid, China E-liquid Company has achieved all-round improvements in terms of technology, equipment, production standards, raw materials, quality and taste, and has been recognized by global users and has established a good reputation for manufacturing in China. China's e-liquid exports achieved substantial growth year-on-year.
The report also predicts the market size for the next five years, including global retail sales, exports and domestic sales.
The forecasts of global e-cigarette retail sales in the next five years are
2021: 46.5 billion USD,
2022: $59.5 billion,
2023: US$76.2 billion,
2024: $97.5 billion,
In 2025: $124.8 billion.
In the next five years, exports and domestic sales are forecasted to be 63.2 billion yuan in exports and 18.5 billion yuan in domestic sales in 2021. Export and domestic sales are expected to grow at a compound annual rate of 28%. In 2025, exports are expected to reach 169.7 billion yuan, and domestic sales will reach 49.8 billion yuan.
In addition, the 2020 e-cigarette industry memorabilia was also announced at the forum.
1. The new crown epidemic has broken out globally, the e-cigarette causing lung injury deaths in the United States has come to an end, and the United States CDC has removed the event topic.
2. In the early stage of the outbreak, Chinese e-cigarette industry companies actively took the lead in donating money and materials to fight the epidemic.
3. Malaysia levies taxes on e-cigarettes: smoking sets are levied at a tax rate of 10%, and e-liquid is levied at 40 cents/ml, starting from January 1, 2021.
4. Electronic cigarettes are written into China's new "Minors Protection Law": selling electronic cigarettes to minors is illegal.
5. As a harm reduction product, Philip Morris International IQOS passed the MRTP audit of the US FDA. This is a milestone in the global new tobacco industry.
6. Smol International, the parent company of Mcwell, was successfully listed on the Hong Kong Stock Exchange, with a market value of over HK$300 billion.
7. The State Tobacco Monopoly Administration and the National Market Supervision Administration carried out a two-month special inspection of electronic cigarettes.
8. The US JUUL initiated a 337 investigation and prosecuted seven Chinese e-cigarette companies.
9. The US FDA has extended the PMTA deadline of May 12, 2020 to September 9, 2020. Many e-cigarette companies have applied for and passed the first round of PMTA review.
10. The Electronic Cigarette Industry Committee organized a standardized development promotion meeting and the 4th Electronic Cigarette International Forum to be held in Shenzhen, leading the industry's standardized and prosperous development.
