British American Tobacco surpassed JUUL to become the world's largest e-cigarette brand, with a global comprehensive market share of 17.4%, and Chinese brand RELX ranks third.
In 2021, the growth rate of the new tobacco market will return to the rising channel after the epidemic. According to the latest data from Euromonitor International, the global sales of new tobacco will reach US$54.57 billion in 2021. Under the background of the gradual control of the global epidemic, the year-on-year growth rate will reach 30.0%, returning to the high growth range before the epidemic. From 2015 to 2021, the new tobacco market continued to grow rapidly, with a CAGR of 36.4%. In 2022, the global scale of new tobacco is expected to reach nearly 65 billion US dollars, with a year-on-year growth rate of about 18%. In 2021, British American Tobacco will surpass JUUL to become the world's largest e-cigarette brand, with a global comprehensive market share of 17.4%, and Chinese brand RELX will rank third.
Overseas: Supervision in various countries continues to improve, and FDA approval speed is accelerated
On October 12, 2021, the US FDA released the first vaping electronic cigarette-Vuse Solo, a subsidiary of British American Tobacco, for sale; on March 25, 2022, the FDA approved the marketing application of Japan Tobacco's Logic brand electronic cigarette, which was approved on April 27. The NJOY brand listing application further recognizes the harm reduction effect of e-cigarettes; as of March 25, the FDA said that 1% of PMTA applications are still under review. In addition to the United States, other regions are also implementing regulatory measures for vaping products. We believe that with the gradual implementation of supervision, the industry access threshold and the operating costs caused by stricter supervision will further increase. In the future, the industry chain Concentration will accelerate.
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