Korea leaps to be the world’s second largest heat not burn market

After several years of development, Korea has become the world’s second largest market for heat not burn products, after Japan.

According to Euromonitor International’s latest data, the market value of heating not burning products in Korea reached US$1.67 billion in 2018, far exceeding US$453 million in 2017.

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In 2018, the total size of the Korean tobacco market is 15.6 billion US dollars, and the growth is expected to be limited by 2023, but Euromonitor International said that the country’s heating not burning market is expected to grow by 21% annually and to reach 4.4 billion US dollars by 2023.

“In less than two years since Korea first introduced its heat not burn products, it has

become the second largest market in the world after Japan.”

vape export shuffle

Euromonitor International said in its report, adding that South Koreans are familiar with the use of new device and enthusiastic about high-end technology, so the country can achieve better-than-expected growth.

In response, Lee Oryoon, an analyst at Euromonitor International, a well-known international consultancy, said in an interview with reporters that in addition to the rapid growth of the market for heat not burn products, Korea’s electronic cigarette market has also witnessed substantial growth.south korea

South Korea’s closed pod system market is expected to reach $228 million in 2023, a significant increase over this year’s projected $40 million.

Lee Oryoon, Euromonitor International analyst, said: “Korea is an emerging market for pod system electronic cigarettes. After convenience stores begin selling e-cigarettes, the market is expected to grow at an amazing rate. These products attract young consumers in particular.

Footoon, a well-known vape brand in Korea, closes A round financing of US$3 million

Footoon, a well-known electronic tobacco brand in Korea, raised US$3 million in A Round financing recently, which was jointly invested by private equity funds and investors.

Footoon, as the first electronic cigarette factory in the industry to launch double DIY atomizer, is deeply loved by consumers with innovative spirit in its business. As one of the high-end atomizer brands, Footoon has launched Aqua, Aqua V2, Aqua SE, Aqua SE, Aqua UX and other products, which are well-known in the electronic cigarette industry, enjoying equal popularity with the leading brand KAYFUN.

Footoon atomizer

According to Footoon, the investment will be used to boost product development and team building. The company will launch subversive pod systems in the second half of the year. It will be delicate in flavor and vape juice leakage prevention design, which is very worthy of consumers’expectations.

Footoon atomizer Footoon atomizer Footoon atomizer

Korea’s HNB market share has grown rapidly, providing total tax revenue exceeding 10.7 trillion won

HnB devices, including PMI’s iQOS and KT&G’s lil, have soared to 11.8% of the total e-cig market in South Korean in the past two years.

HnB device is a battery-driven alternative to flammable cigarettes. Its working principle is to heat cigarette sticks containing tobacco leaves. These cigarette cartridges look like short cigarettes, which need to be inserted into the heater with the device on to heat the tobacco.

This product was launched in Korea only two years ago, but according to data released by the Ministry of Economy and Finance in December last year, cigarettes sold 288 million packs in November, of which 35 million packs were substituting products of HnB. This is equivalent to 11.3%, higher than 7.3% of the previous year.

HnB’s total tax revenue has reached 10.7 trillion won

Last December’s report added that Haiti’s National Health and Budget Bureau had accumulated sales of 295.5 million packs of substituting HNB cartridges, accounting for 9.3% of the tobacco market. Meanwhile, the total production and sales tax of all tobacco products in Korea is 10.7 trillion won ($9.5 billion), an increase of 2.6% over the same period in last year. Compared with the same period in 2014, the sales tax increase 63.9% sharply.

Further data released by the government show that HNB sales reached 92 million packs in the first quarter of this year in Korea, an increase of 34% over the same period last year. This is equivalent to an increase of 11.8% at the end of March, 2.2% higher than two years ago.

Jouz officially entered the first duty-free shop LOTTE in South Korea

Following April 8, Jouz held a global new product launch in Tokyo in 2009, released the world’s first flip-flop electronic cigarette Jouz S, and a brand-new upgraded Jouz 20 Pro HNB product, here comes a new big move from Jouz.

Jouz S debuts in Tokyo, Japan

On April 20, jouz officially entered the No. 1 duty-free store in Korea, including its products like jouz 12, jouz 20 and the newly released jouz 20 Pro.

jouz south korea

On the day of the news, the jouz counter of LOTTE DUTY FREE duty-free shop in Korea has been crowded by many Korean consumers and the world Korean agent buyers.

jouz south korea

Many people may wonder why the first duty-free shop in Korea chose jouz to stay in the context of the fierce competition in the global electronic cigarette market. Through analysis, it is believed that this is related to the market performance of jouz before .

In 2018, as soon as the jouz product was launched, it won the first place in Amazon’s best-selling list in Japan in 2018 and became one of the most popular e-cigarette brands among consumers. After entering South Korea for only half a year, jouz ranked the top three in the natural search index, and the sales market was often short of stock. In addition to the rising market in Japan and Korea, jouz is also popular in Russia, exported to more than 100 countries and regions such as Europe and the United States.

jouz south korea

This time, jouz enters Korea’s No. 1 duty-free shop, providing a new sales channel for global users, which will surely set off a worldwide reselling boom. While providing more choices for domestic consumers in Korea, it will also lead to new business opportunities in the global electronic cigarette market.

Related: Jouz more information and its official site

South Korea’s Vape Exhibition in September 2018 is a Huge Success

South Korea’s e-cigarette exhibition in September, a successful ending – the topic of heating and non-burning

The Korea E-cigarette Exhibition was held in Hall 3 (KINTEX) from September 7th to 9th, and was jointly organized by Korea International Convention and Exhibition Center (KINTEX), The Fairs and Korea E-Cig Industry Association. Vape Korea Expo 2018 (2018 Korea E-cigarette Show) was successfully concluded in Korea on the 9th.

This e-cigarette exhibition is the first e-cigarette exhibition held in South Korea, attracting exhibitors from all over the world and today, we will introduce you to exhibitors who are heating and non-burning products.

These are two companies from South Korea’s low temperature non-combustible products, they are the first to appear in the Korean market.

Let’s take a look at the wonderful debut of China’s low temperature products.

Low-temperature products in the Korean market are very popular. Low-temperature cigarettes and products are available in supermarkets in South Korea and are available in convenience stores.

Vape Korea Expo2018 not only shows the amazing research and development results of e-cigarette brands from all over the world, but also shows the concept of people’s increasingly fashionable and healthy lifestyle. The event also promoted mutual learning and exchange between heat not burn products and other international e-cigarette brands. It is helpful to discuss the future development of e-cigarette industry together. I believe that in the era of looking forward to a healthy new environment, a healthy way of replacing cigarettes will surely usher in a booming development.