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E-cigarette industry has broad prospects

TIME: 2019/1/23 21:57:59

Electronic cigarette is an electronic product that imitates traditional cigarettes. It is mainly composed of components such as batteries, atomizers and plastic parts. E-cigarettes are mainly divided into smoking cessation categories and cigarette substitutes. Among them, cigarette substitute products mainly use special means such as atomization to turn steam, smoked rods into steam for users to smoke. It has smoke, taste and feeling similar to traditional cigarettes, but it does not burn, tar, Toxic substances such as carbon monoxide and nitrous acid are greatly reduced, and second-hand smoke pollution is not easily generated. Therefore, it can better meet consumers' needs for health and environmental protection, and has a novel and fashionable experience of electronic consumer goods, which makes it a better substitute for traditional cigarettes.


E-cigarette market size


With the people's concern for healthy living and the strengthening of smoking bans in various countries, the traditional cigarette market is weak. The e-cigarette market, which is dominated by young people, has shown a significant upward trend in the European and American markets. According to statistics, China is the largest producer of e-cigarettes. China's e-cigarette exports account for more than 90% of the world's total output. The production of cbd oil ceramic cartridge has formed a mature industrial chain system, and the industry has broad prospects. According to the "China E-cigarette Industry Market Prospects and Investment and Financing Strategy Research Report of 2018-2023" issued by the China Business Research Institute, China's e-cigarette production in 2016 was 1.205 billion pieces, and it is expected to reach 2.229 billion units in 2018.

Electronic cigarette, smok cartridge, e-cigarette, cbd vape cartridge


Due to the rapid development of the cbd vape cartridge industry, tobacco giants have successively intervened in the replacement of traditional tobacco, and the market capacity growth is amazing. As an emerging product, e-cigarette has achieved rapid development in the past decade. According to statistics, the global e-cigarette market in 2010 was approximately $416 million, and by 2016 the market capacity had expanded to $7.1 billion. In the past six years, the market capacity has expanded by 17 times, and the annual compound growth rate has reached 60.5%. It is expected that the electronic cigarette industry will continue to maintain a high growth momentum in the future. By 2024, the industry scale will reach 45 billion US dollars, with a compound annual growth rate of 26%. The rapid growth of e-cigarettes is bound to lead to the replacement of traditional tobacco.


E-cigarette development prospects


1) Industry technology innovation will make products closer to the needs of consumers.


2) The demand for health brought about by the improvement of people's living standards and the demand for smoking cessation and smoke reduction caused by the government's tobacco control policy are expected to accelerate the substitution of electronic cigarettes for traditional tobacco.


3) The trend of potential tax increase in the tobacco industry has made the use of cbd cartridge more economically advantageous, thus accelerating the replacement of traditional tobacco. Unfavorable factors for the development of the industry include: 1) Unclear policy: At present, countries around the world lack consensus on e-cigarette regulatory policies, and domestic regulation is in a blank state, which limits the development of the industry to a certain extent. 2) The traditional tobacco industry is the largest industry in terms of profit and tax, accounting for 6%-7% of the state's fiscal revenue, and the industry's gross profit is as high as 70%. Whether large-scale replacement of e-cigarettes can fill vacancies in profits and taxes and profits remains to be seen. On the whole, we believe that e-cigarettes have many natural advantages over traditional tobacco products. The development of the industry is the general trend driven by the general trend of quitting smoking and reducing tobacco and economic benefits. With the expansion of the e-cigarette market, upstream demand will also increase. ODM/OEM companies that have stable cooperation with industry giants and have accumulated advantages in technology will benefit from this. However, due to the above disadvantages, the e-cigarette market will What form of development remains to be seen.

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