China's E-cigarette Export Market Analysis in First Half of 2024

On July 24th, after the General Administration of Customs of China released the import and export data for June, the export data for e-cigarettes for the first half of 2024 (January to June) has been completed. 2FIRSTS compiled the data for January to June 2024, showing that the total export value of e-cigarettes in the first half of the year reached $5.381 billion, a 1.82% decrease compared to the same period last year, which was $5.481 billion.

Export volume is increasing, but unit prices are decreasing.

In the first half of 2024, despite showing a growth trend in export volume, the total export value decreased.

In the first half of 2024, China's e-cigarette exports reached 121,000 tons, compared to 104,200 tons in the same period last year, representing a year-on-year increase of approximately 16.12%.

The average export unit price is $44.54, a year-on-year decrease of approximately 16.23% compared to the same period last year, when it was $53.17.

The United States emerges as a major growth engine, with the Middle East showing a significant increase in growth rates.

According to customs data, the top ten countries and regions for e-cigarette exports in the first half of the year are the United States, United Kingdom, South Korea, Germany, Russia, the Netherlands, Malaysia, Canada, Japan, and the United Arab Emirates. The top 8 rankings remain unchanged, with the Philippines and Australia dropping out of the top 10 (Australia declined by 90.12%, the Philippines by 25.69%), and the United Arab Emirates and Japan entering the top 10.

Furthermore, half of the countries experienced a year-on-year decline in growth rates, including the United Kingdom, South Korea, Germany, Malaysia, and Canada. Only the United States maintained a growth rate of over 10%, while the United Arab Emirates in the Middle East also saw close to a 10% growth rate.

It is worth noting that Australia and the Philippines, both countries which fell out of the top 10, have experienced increased enforcement actions by regulatory authorities against the e-cigarette industry in the first half of this year.

Countries such as New Zealand and South Africa have experienced growth rates exceeding 50%.

According to customs data, the top ten countries and regions with the highest export growth of e-cigarettes are Azerbaijan, Mexico, Israel, Greece, Mongolia, New Zealand, South Africa, Egypt, Ukraine, and Austria. Azerbaijan, Mexico, and Israel all saw growth rates exceeding 100%.

These countries are not long-term hot markets for e-cigarettes, but New Zealand and South Africa have reached sizes of 61.55 million US dollars and 50.89 million US dollars respectively, with year-on-year growth exceeding 50%.

In general, the first half of 2024 saw a trend in the Chinese e-cigarette export market of "increased quantity and decreased price", with total export value and unit price both decreasing, while export volume is on the rise. The main growth points continue to be the US and Middle East markets, while traditional markets such as the UK and Australia are experiencing slower growth or decline due to regulatory influences. At the same time, emerging markets like New Zealand and South Africa are showing strong performance, potentially indicating significant growth potential.