E-vapour products registered a further fall in value sales in 2021, though not as significant as in 2020. There were several factors that led to the decline.
Philip Morris recently launched its Iqos heated tobacco product in Costa Rica and the launch was supported by a strong marketing campaign. Philip Morris International has committed to building a “smoke-free future” and earning about 40% of its total revenue from its new products.
Brand loyalty within e-vaping product is limited, with consumers driven by value for money. It has been difficult for premium brands such as StattQualm and SvoeMesto to gain traction, while brands such as Geekvape, which offer lower prices and a decent price/quality ratio have been performing strongly.
Tobacco control laws are strict in Costa Rica and while up to now, there was no controls over e-vaping and heated tobacco, there are concerns that the long-term health effects of such products remain unknown, and that vaping in particular could serve as a gateway to traditional smoking. In light of these concerns, e-vaping and consuming heated tobacco will be banned in public places from January 2022 and a 20% tax will also be imposed on such products.
Vaping is perceived as expansive and also less convenient in comparison with smoking cigarettes, as there is much more limited availability. With the economic outlook uncertain over the forecast period, and inflation expected to rise, due to global factors such as rising energy prices and continuing global supply shortages, consumer purchasing power is expected to fall.
In terms of e-commerce, quite a significant portion of e-vaping products in particular are sold online, compared to other tobacco products. The main consumer base for e-vaping is a younger generation and they are much more digitally adept.
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Smokeless Tobacco, E-Vapour Products and Heated Tobacco
Combined total of the four categories: Smokeless (including moist snuff and chewing tobacco), e-vapour products, heated tobacco and tobacco free oral nicotine.See All of Our Definitions
This report originates from Passport, our Smokeless Tobacco, E-Vapour Products and Heated Tobacco research and analysis database.
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