What are the 4 major trends in the development of the electronic cigarette industry in 2022?

iiMedia Research, a world-renowned third-party data mining and analysis organization for the new economy industry, released the “Special Research Report on the Development Trend of the Global Electronic Cigarette Industry in 2021-2022” (hereinafter referred to as the “Report”). The report shows that in the past three years, the global e-cigarette retail scale has maintained a rapid growth trend. Made in China leads the global technological innovation of electronic cigarettes and sells well in more than 200 countries and regions. 01 HNB has become the main development direction of developed countries in the United States and Japan According to the research of the report, according to the general standards of the international market, electronic cigarette products are generally divided into two main directions: atomized electronic cigarettes and HNB (heating not burning). However, China’s definition of electronic cigarettes mainly includes two categories: atomized electronic cigarettes and solid electronic cigarettes. Tobacco products such as heated cigarettes directly manufactured by tobacco processing are included in cigarette management and do not belong to electronic cigarettes. In terms of market size, the retail scale of the global vaping electronic cigarette industry will grow at a compound growth rate of 18.6% from 2018 to 2021, and the retail scale will reach US$42.44 billion in 2022. The retail scale of the global HNB industry has a compound growth rate of 58.4% from 2018 to 2021, and the retail scale is expected to reach US$31.37 billion in 2022. The level of support and development stage of HNB products varies from country to country. The most mature country is Japan, where 30% of smokers have completed the conversion to HNB products. Tobacco giant Philip Morris International officially announced that it will stop selling cigarettes in Japan within 10 years. As of the end of 2020, the total number of IQOS (Philip Morris International HNB brand) users worldwide was approximately 17.6 million, of which 12.7 million users had completely switched to IQOS and successfully quit smoking. 02 Harm reduction is the core demand of tobacco evolution According to the report’s survey on Chinese consumers, the smoking frequency of Chinese traditional tobacco consumers is one pack every two or three days (43.1%), and 49.7% of them have reduced their smoking frequency in the past year; more than 90% of Chinese traditional tobacco consumers Having thought about quitting smoking, 77.9% have tried it, and only 23.8% successfully quit smoking. The most important reason consumers want to quit smoking is to worry about harming the health of their family and friends (77.1%), followed by worrying about their own health (74.1%). Analysts believe that almost all Chinese traditional tobacco consumers have the idea or action to quit smoking. Unfortunately, only about 20% successfully quit smoking. Quitting cigarettes is an urgent need for domestic traditional tobacco consumers. Survey data shows that over 70% of Chinese cigarette consumers understand and are interested in e-cigarettes. Consumers are most interested in the auxiliary effect of e-cigarettes on smoking cessation (74.6%), followed by the idea that e-cigarettes are fashionable and interesting (67.2%). 83.0% of Chinese e-cigarette consumers believe that e-cigarettes are helpful in reducing dependence on cigarettes, and 37.8% of consumers of solid e-cigarettes believe that e-cigarettes are significantly helpful for smoking cessation. 52.0% of consumers believe that e-cigarettes are healthier than cigarettes. However, the research report also pointed out that consumers have a relatively uniform understanding of e-cigarettes in replacing cigarettes or reducing cigarette dependence. Nearly half of consumers believe that the harm of cigarettes may be the same or higher than that of cigarettes. This is related to the irregular development of the domestic e-cigarette industry. The qualifications of enterprises in all aspects of production and operation are uneven, which cannot guarantee the experience and health of smokers. With the release of national standards and the gradual strengthening of supervision, the standards and cognition of e-cigarette products will be unified. 03 Chinese manufacturing technology leads the world and dominates Data shows that the market size of China’s e-cigarette industry continues to grow. The domestic sales market size in 2021 is 14.50 billion yuan, and the growth rate is expected to be 76.0% in 2022, and the market size will reach 25.52 billion yuan. The export market of China’s electronic cigarette industry is huge, with exports reaching 101.50 billion yuan in 2021. It is expected that the growth rate will be 63.4% in 2022, and the market size will reach 165.88 billion yuan. In 2021, the direct employment population of China’s e-cigarette industry will be about 1.5 million, and the indirect employment will be about 4 million, for a total of about 5.5 million. Statistics show that as of 2021, Chinese enterprises will account for more than 95% of the global electronic atomization production capacity and sell to more than 200 countries and regions. According to the IMS model, the potential market size of China’s e-cigarette segments is estimated. Under the condition that the policy on the e-cigarette market is gradually improved, it is expected that the penetration rate of solid e-cigarettes in China will reach 3% to 5% in 2025 (the penetration rate of HNB will reach 15%). to 25%, of which solid electronic cigarettes account for about 20%), the potential market size is about 53.1 billion to 88.5 billion yuan, the penetration rate of atomized electronic cigarettes is 4% to 8%, and the potential market size is about 39.6 billion to 79.2 billion yuan Yuan. The research also shows that China has an advantage in the global e-cigarette industry, and Chinese manufacturing promotes the development of the industry through technological innovation. Domestic private electronic cigarette brands such as RELX have been deployed in the field of electronic cigarettes for many years, and have achieved innovative results in product and material research and development, production processes, etc., which have led to the employment of personnel in the entire industry chain from research and development to sales. According to the survey data, 60.0% and 48.2% of Chinese e-cigarette consumers prefer RELX and Magic Flute respectively. 04 The general trend of legalization and standardization of the e-cigarette industry iiMedia Research analysts believe that in order to ensure the long-term and sustainable development of the domestic e-cigarette industry, the release and implementation of national standards for e-cigarettes is the general trend. Europe, the United States, Japan and South Korea have issued clear policy guidelines and regulatory measures for e-cigarettes, and the steady development of China’s e-cigarette industry is accelerating into the track of legalization and standardization. Since 2021, my country has successively released and improved relevant national standards and management methods for e-cigarettes, making it clear that e-cigarettes are under the management of the Tobacco Monopoly Bureau, and characterizing e-cigarettes as a new type of tobacco product. Clarifying the classification of atomized electronic cigarettes and solid electronic cigarettes makes the production and operation of the electronic cigarette industry more standardized. iiMedia Research analysts believe that the new regulations mean that e-cigarettes, as a new type of tobacco product, have officially obtained legal status at the national legal level. The implementation of the license will strengthen the supervision of the qualifications of e-cigarette market players in the production, wholesale and retail links from the source, which will greatly improve the chaos and disorder of hundreds of brands in the domestic e-cigarette market, and promote leaders with R&D strength and technological innovation. Ministry of enterprises developed steadily and orderly. The report pointed out that the current supervision of my country’s electronic cigarette industry is developing towards a standardized market with laws and regulations to follow. How to learn from the successful management experience in the world, through standardized management, to play the important role of the new economy and new formats in the national economy and become the main body of the market

 

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