Russia's E-cigarette Market Sees Surge in Imports in 2024, E-liquid Taking 40% Market Share

Industry Insight by 2FIRSTS.ai

Aug.06.2024

Russia's E-cigarette Market Sees Surge in Imports in 2024, E-liquid Taking 40% Market Share

Russian e-cigarette liquid imports nearly double in the first half of 2024, hitting 3.2 million equivalent packages, reports "Businessman.

Recently, according to the Businessman's Journal, the import volume of e-cigarette liquid in Russia in the first half of 2024 nearly doubled, reaching 3.2 million equivalent packages. This data was provided by the Advanced Technology Center responsible for the "Honest Label" project.

According to data, in the first half of 2024, the import volume of e-cigarette liquid in Russia nearly doubled, reaching 3.2 million equivalent packages. 60% of this market is made up of disposable devices, mainly from China. This growth is related to the legalization of the product and expansion of market demand. Bottled e-liquid holds about 40% of the market share, mainly produced in Russia. According to Sergei Grigoryev, Chairman of the Russian e-cigarette market professional alliance, the average retail price of bottled e-liquid has dropped to 1000 rubles (about 84.12 yuan), a decrease of 51.6% compared to the previous year.

According to the Federal Customs Service of Russia, the import volume of tobacco products in the first half of 2024 increased by 35.1% to a total of 2.155 billion packs. The main category supplied to the market is cigarettes, with cigarette imports in the second quarter reaching 93.3 million packs, a 27.3% year-on-year increase. At the same time, the import volume of small cigars has significantly increased to 12.4 million packs, which is 6.6 times higher than last year. Cigarette sales revenue increased by 8.3% year-on-year, while small cigars increased by 15.8%.

According to Maxim Korolev, the general manager of the Russian tobacco company, quarterly fluctuations in imported tobacco do not always reflect market trends, primarily due to the long and uneven import cycles of tobacco.

References:

[1] Импорт табачной продукции в Россию вырос на 43,3% во втором квартале

Also Read:

[1] Analysis of China's E-Cigarette Export to Russia in April 2024

[2] The Rise of Disposable E-Cigarette Prices in Russia

#Europe #E-liquids #Market #Russia

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