China’s E-Cigarette Exports Fall Slightly to USD 10.6 Billion in 2025, U.S. Market Further Consolidates Lead

Key points

• 2025 total: about $10.598 billion, down about 3.3% from $10.96 billion in 2024

• October 2025: $1.098 billion; November 2025: $1.096 billion

• Monthly pattern: February below $0.5 billion; March–September in the $0.8–$0.9 billion range

• Top three destinations: U.S. ($4.104B), U.K. ($1.178B), Germany ($0.704B)

• Other top-10 destinations: South Korea ($0.469B), UAE ($0.394B), Russia ($0.367B), Malaysia ($0.363B), Japan ($0.264B), Canada ($0.263B), Netherlands ($0.198B)

2Firsts, January 20, 2026

China’s e-cigarette exports totaled approximately USD 10.60 billion in 2025, down 3.3% year-on-year from USD 10.96 billion in 2024, according to annual trade data released by the General Administration of Customs of China. Despite the mild decline, exports remained firmly above the USD 10 billion mark, with a clear rebound in the fourth quarter.

Fourth Quarter Drives Annual Performance as Exports Rebound to Near-USD 11 Billion

On a monthly basis, China’s e-cigarette exports in 2025 showed pronounced seasonality. Exports fell to a yearly low in February, reflecting the impact of the Lunar New Year, before stabilizing in the USD 800–900 million range from March through September.

Momentum strengthened sharply in the final quarter. October and November exports reached USD 1.10 billion and USD 1.10 billion respectively, forming the strongest performance window of the year and partially offsetting earlier softness.

United States, United Kingdom and Germany Remain Top Three Export Destinations

From a market perspective, China’s e-cigarette exports in 2025 continued to be dominated by North America and Europe, with Asia and the Middle East providing structural support.

Top 10 Export Destinations in 2025

United States:

Exports reached USD 4.10 billion, accounting for nearly 40% of China’s total e-cigarette exports, further strengthening its position as the world’s largest single market.

United Kingdom:

Annual exports totaled USD 1.18 billion, ranking second and remaining Europe’s most important consumer market.

Germany:

Exports reached USD 704 million, consolidating its role as the leading e-cigarette import market within the European Union.

South Korea:

Exports amounted to USD 469 million, ranking fourth, reflecting its continued role as a regional distribution and logistics hub.

United Arab Emirates:

Shipments totaled USD 394 million, underscoring the Middle East’s growing importance in global trade flows.

Russia:

Annual exports reached USD 367 million, remaining resilient despite geopolitical and economic pressures.

Malaysia:

Exports totaled USD 363 million, maintaining its position as a key Southeast Asian destination amid regulatory adjustments.

Japan:

Shipments reached USD 264 million, continuing to emerge as a growth-oriented Asian market.

Canada:

Exports amounted to USD 263 million, showing relatively stable demand.

Netherlands:

With USD 198 million, the Netherlands remained an important European transit and redistribution hub.

Comparison with 2024: Slight Decline in Volume, Higher Market Concentration

Compared with 2024, when China’s e-cigarette exports reached USD 10.96 billion, overall export value in 2025 declined modestly. However, market structure largely remained consistent.

U.S. market concentration increased:

U.S. exports rose from USD 3.70 billion in 2024 to USD 4.10 billion in 2025, even as total exports edged lower, reinforcing the United States’ dominant position.

European markets remained differentiated:

The UK maintained stable volumes, while Germany continued to strengthen its role within the EU market.

Asia and the Middle East played a stabilizing role:

South Korea, Japan, Malaysia and the UAE continued to feature prominently among top destinations, supporting export resilience.

Emerging markets showed higher volatility:

Russia and parts of Southeast Asia maintained demand but experienced greater month-to-month fluctuations amid regulatory and macroeconomic uncertainty.

Outlook

Overall, China’s e-cigarette exports in 2025 remained structurally stable despite a modest year-on-year decline. Export volumes continued to be highly concentrated in a small number of core markets, with the fourth quarter serving as the most important growth driver. Going forward, China’s e-cigarette export sector is expected to face continued regulatory complexity overseas, with performance shaped by inventory cycles, policy shifts and demand concentration in major markets.