The current electronic cigarette market is so hot. Based on the current market share, scale, and prospects of electronic cigarettes, the editor will analyze it here
According to the 2020 China Report on the Hazards of Smoking to Health, there are over 300 million smokers in China, and approximately 740 million non-smokers are affected by secondhand smoke; Every year, the number of deaths caused by smoking related diseases exceeds 1 million. If the prevalence of smoking is not controlled, the annual death toll will exceed 3 million by 2050, becoming an unbearable burden on people's health and socio-economic development.
The large number of smokers in our country and the deep harm that people suffer from smoking have brought huge potential markets to the electronic cigarette industry. Because e-cigarettes are substitutes for cigarettes, the users of e-cigarettes are this group of tobacco users, and the market for e-cigarettes is large enough.
Secondly, due to the fact that most e-cigarettes advertise under the banner of "helping quit smoking" and "easily relieving addiction", many people who want to quit smoking but cannot tolerate quitting directly will choose e-cigarettes.
Finally, "fashionable and cool" e-cigarettes always attract many young people with various "titles". For elementary school students, the novel experience of electronic cigarettes undoubtedly gives them the capital to "show off" and gradually makes themselves "different".
From 2013 to 2018, the size of China's electronic cigarette market continued to grow, and the growth rate remained above 20%. With the continuous progress of product technology and the expansion of the audience for electronic cigarettes, electronic cigarette products are also emerging one after another, which has maintained a high-speed growth in the market size of China's electronic cigarette industry.
In 2018, the size of China's electronic cigarette market was approximately 4.981 billion yuan, an increase of 24.12% year-on-year. The market size of closed steam electronic cigarettes is about 1.943 billion yuan, accounting for 39.02% of the total market size; The open steam electronic cigarette market size is about 3.038 billion yuan, accounting for 60.98% of the total market size. Forward looking estimates show that the size of China's e-cigarette market was approximately 9 billion yuan in 2019, and approximately 13 billion yuan in 2020,
From the distribution of the global e-cigarette market, China's e-cigarette development lags behind, with the United States accounting for 43%, the United Kingdom accounting for 13%, Malaysia accounting for 21%, and China only accounting for 5%. A small proportion represents a large growth space, which is an important reason for capital to enter this market.