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Vapour products have been registering rapid growth in the country, but between 2015 and 2017 growth accelerated. Growth was underpinned by the development of a vaping culture in Colombia, mainly in large urban areas where specialised bricks-and-mortar stores expanded, as well as by the entrance of the two important brands of Vype and Iqos.
Vapour products have been recording rapid growth alongside strong innovation, with companies importing more-sophisticated devices with different levels of power and types of vapour production, particularly through open vaping systems that are mainly imported from China. The variety in terms of devices and e-liquids is almost endless, and in particular, besides the traditional tobacco flavours, e-liquids offer an array of exotic flavours such as ice cream, baked products and fruity flavours combined with mint.
In Colombia, as in many other countries, the use of vapour devices is controversial and there continues to be a void in terms of the regulation of vapour devices. Their efficiency as a therapeutic aid for quitting smoking has been questioned by health authorities, as well as concerns that the potential harm from vapour and e-liquids over the long term is unknown.
The category of vapour devices, prior to the entrance of Vype and Iqos, was highly fragmented, with a plethora of imported brands and Eleaf and Joyetech being the most visible of these. In e-liquids, fragmentation is stronger with more than 100 brands present.
Vype is distributed through specialised vapour stores and through retailers such as convenience stores and hypermarkets. In 2017, its NBO Vype Colombia made an alliance with Via Baloto, which was in order to improve national coverage though the 10,000 sales points offered by Via Baloto.
Iqos uses an interesting distribution strategy through stalls at shopping centres, but its most important channel is a network of authorised sellers who can directly distribute the product. Although the initial cost is high, with kits around COP310,000, a box of 20 HEETS is priced similar to conventional cigarettes.
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Discover the latest market trends and uncover sources of future market growth for the Smokeless Tobacco and Vapour Products industry in Colombia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Smokeless Tobacco and Vapour Products industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Smokeless Tobacco and Vapour Products in Colombia market research report includes:
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.