At the summit, ECCC and Juanjuan Think Tank jointly released the “2021 E-cigarette Industry Blue Book”. The report shows that the estimated retail sales of e-cigarettes globally in 2021 will reach US$80 billion, a 120% growth versus previous year. China’s e-cigarette industry exports are about RMB138.3 billion, a 180% growth versus previous year. Disposable products, open, closed systems and other categories accounted for 65%, 17%, 8% and 10% respectively.
Qu Weizhi, former vice minister of the Ministry of Information Industry of China and director of the Expert Advisory Committee of the China Electronics Chamber of Commerce, said that after the implementation of the new regulations, the e-cigarette industry in the next coming 2 years will face large impacts, however for the long term, this will guarantee significant sustainable development of NGP’s such as e-cigarettes.
Wang Ning, president of the China Electronic Chamber of Commerce, said that the introduction of the national standard for e-cigarettes legalizes e-cigarettes. There may be future challenges, the e-cigarette companies should continue to jointly work hard to promote a more healthy and sustainable development of the e-cigarette industry.
Yao Jide, chairman of ECCC and chairman of Hangsen Technology (Shenzhen) Co., Ltd., said that this year marks the 20th anniversary of the birth of e-cigarettes. With the implementation of the national legalized supervision of e-cigarette policies, all practitioners should be confident, actively respond, and be compliant.
Han Jiyun, president of the FEELM business group of Smoore, said that Smoore has already invested more than RMB 2 billion in R&D. There are currently more than 1,500 R&D personnel.
Du Bing, co-founder and CEO of RELX International, said that the global awareness of Chinese brands is increasing, and Chinese companies are moving from global product suppliers to Chinese brand creators.
ECCC Secretary-General Ao Weinuo stated that China’s e-cigarette industry exports will increase by 180% in 2021. The main driving factors are the stable production brought by China’s effective prevention and control of Covid-19, the increase in global raw material prices, and the use of e-cigarettes in more markets globally.
Two forums were arranged for this summit. In the morning forum 3 topics were discussed: The pros and cons of e-cigarette development in the international market, how will Chinese domestic brands develop under the new policies, and how the capital market views the development of e-cigarettes.
In the afternoon forum, e-cigarette industry innovation, e-cigarette compliance, and the sharing of international experiences were shared. The founders of Aspire, Joyetech, Smok, BBtank and other e-cigarette companies participated in the discussion.
Director of VTA Tony Abbound Executive, CEO of JUUL Labs K.C.Crosthwaite , Chairman of the Board of UKVIA John Dunne , Chairman of IEVA Dustin Dahlmann , Executive Vice President of BIO of Korea Zhang Xiaozhen, Secretary-General of IMPRESI Indonesia Edy Suprijadi , German Electronic Cigarette Exhibition, British e-cigarette Exhibition and other overseas representatives shared the development of e-cigarettes in their respective countries in the form of videos.
The summit also premiered the “20 Years of Vaping” documentary series. The film includes interview footage from nearly 30 key personal from China and International e-cigarette companies and leaders from the ECCC, showing the evolution of the e-cigarette industry from China to the world.
With the development of product technology and consumption, regulatory measures are invetibale. The recent release of e-cigarette regulatory policies in China marks the recognition of e-cigarette products in the world’s largest tobacco consumer market. This in itself is a milestone event in the development of the global e-cigarette industry, and it will surely provide a reference for e-cigarette supervision in other countries and regions, and promote the deepening of the awareness of e-cigarette products and the maturity of supervision on a global scale.