Enforcement on Illegal Vapes Expected to Boost Compliant Vape Sales
On July 6th, according to a statement from investment Q&A platform, Jingjia Corporation expressed that "due to the National Tobacco Monopoly Bureau launching a special inspection to regulate the e-cigarette market and crack down on illegal sales of non-standard cigarettes, combined with inventory depletion in the previous period, sales of national-standard e-cigarettes are expected to rebound.
The following is the original transcript of the Q&A:
Question: Secretary Dong, what is the current demand for e-cigarettes in the domestic and international markets?
In response, the company stated, "Hello, thank you for your interest in our company! In 2022, the global e-cigarette market witnessed a surge in growth, reaching sales of $23.65 billion, with a year-on-year increase of 20.0%. According to Sullivan's expectations, global e-cigarette sales are projected to maintain a compound annual growth rate of 18.5% from 2022 to 2027. In the domestic market, the National Tobacco Monopoly Administration has carried out special inspections to regulate the e-cigarette market and address illegal sales of non-standard cigarettes, in addition to clearing previous inventory. As a result, the sales of national standard e-cigarettes are expected to recover.
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