According to the updated trade data from the General Administration of Customs of the People's Republic of China, 2FIRSTS has compiled the e-cigarette export data to South Korea in October 2023. Here are the details:
The export volume reached approximately $69.27 million, showing a 15.87% increase compared to the previous period and a 5.76% increase compared to the same period last year.
The export volume reached approximately 3,296 tons, showing a month-on-month growth of 27.41% and a year-on-year growth of 104.08%.
The export unit price dropped by 9.06% month-on-month and 48.18% year-on-year, amounting to 21.02 USD per kilogram. The average price for "e-cigarettes and similar personal electronic vapor devices" stands at 3 USD per unit.
Among them, "e-cigarettes and similar personal electronic vaporizers" accounted for 10.09% of the export product category, while "non-combustible products containing nicotine that do not include tobacco or reconstituted tobacco" accounted for 89.91%.
According to data from Statista, the predicted revenue for the e-cigarette market in South Korea will reach $60.5 million in 2023. It is estimated that the market will experience an annual growth rate of 2.43% from 2023 to 2028 (compound annual growth rate). In 2023, the per capita e-cigarette consumption in South Korea is expected to be $1.26. The e-cigarette market in South Korea is growing rapidly, catering to a tech-savvy population with its diverse flavors and fashionable designs.
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