The Rise of E-Cigarettes: Disrupting the Tobacco Market
On February 2nd, Du Bing, CEO of Yooz International, stated in an interview with UAE media outlet Khaleej Times that countries such as the UK, New Zealand, Australia, Japan, and many others are experiencing an increased usage of electronic cigarettes, while traditional cigarette usage is on the decline. This correlation suggests that the decrease in smoking rates can be attributed to the widespread adoption of e-cigarettes.
It is understood that in September 2021, YUEKE launched in Saudi Arabia.
Fouad Barakat, local general manager of Yooz International, explained the reason behind launching in Saudi Arabia, stating that the Middle East and North Africa region is one of the fastest-growing markets for e-cigarettes, with a projected annual growth rate of around 10% until 2024. Saudi Arabia is one of the largest and most thriving markets in the region, therefore, any brand looking to grow needs to promote itself in Saudi Arabia.
Reference:
RELX predicts that e-cigarettes will disrupt the traditional nicotine product industry.
The CEO of RELX has emphasized that e-cigarettes are causing a disruption in the tobacco industry.
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