COVID-19 restricted the import of e-vapour products and heated tobacco and consequently increased the overall unit price in the category, causing consumers to look for cheaper options in 2020. Thanks to COVID-19, the movement of goods including e-vapour and heated tobacco was negatively impacted, resulting in a supply shortage and, consequently, price rises.
The e-vapour market has seen fierce competition so that small brands can gain market share if a product is appealing and relevant. The market took off with brands of “big e-vapour” in open vaping systems which can replace atomisers.
The legislative status of e-vapour products and heated tobacco is still not fully conclusive. The draft amendment of the Tobacco Hazards Prevention Act is still waiting for its second reading and is under discussion for potential modification in the central government.
Heated tobacco products is expected to continue seeing strong growth over the forecast period to 2025 in both volume and value terms, while e-vapour products will record slower, but still positive, growth going forward. The stronger performance of heated tobacco products is attributable to the fact that these products have not been in the marketplace as long as e-vapour products.
Since the draft amendment of Tobacco Hazards Prevention Act is not yet passed, Taiwan’s e-vapour market is currently full of privately imported brands. According to industry sources, if a regulation is passed, it is most likely to attract technology and home appliances companies such as Xiaomi to enter and invest in the market.
Female smokers will continue to attract attention from tobacco companies over the forecast period. Female smokers’ image has become far less controversial and companies have launched feminine products to appeal to the new consumers.
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