What are the development trends of the emerging tobacco industry in the third quarter? On October 8, Zhang Yanghuan, an analyst at Guojin Securities, analyzed this and predicted that the domestic emerging tobacco industry's Q3 sales growth trend is expected to continue, and the market share of international exchangeable products is expected to rebound. However, it is still necessary to pay attention to the risks of related policies in the future.
According to Zhang Yanghuan, in terms of overseas markets, the US FDA has recently fined 22 retailers for illegally selling unauthorized e-cigarette products and issued warnings to 168 physical stores, indicating a stricter overall enforcement. The sales of non-compliant disposable e-cigarette products may be significantly restricted, while the market share of refillable products is expected to rebound. Furthermore, the market share of legal brands in this category is also expected to increase. In addition, although the growth of disposable e-cigarettes in Europe remains strong at present, there have been ongoing policy proposals and reviews regarding restrictions on disposable e-cigarettes. Therefore, it is important to continue monitoring the associated policy risks in the future.
In terms of the domestic market, as vape products adhere to the new national standards and undergo continuous iterations and optimizations, coupled with the increased efforts by regulatory agencies to crack down on illegal products, Q3 sales have shown a continued upward trend, according to feedback from distribution channels. The business conditions across various sectors of the domestic industry chain are gradually improving, with the prospect of a sustained acceleration in growth from quarter to quarter.
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