Will Russia be another growth point for Chinese vape manufacturers?

In the Q1 of 2023, China’s export data decreased. However, the export data of vapes has seen growth, with significant growth in vapes exported to the Russian market.

 

The Russian vape market is one of the fastest-growing in the world. Despite being somewhat slow to warm up to vaping, Russia has quickly become a key market for vape manufacturers, with annual sales growth consistently reaching double digits.

 

In recent years, vapes have become increasingly popular in Russia due to the country’s strict smoking ban. Vapes were legalized in Russia in 2013, and since then, their popularity has skyrocketed. According to a report by Euromonitor, the Russian vape market is expected to be worth more than $2 billion by 2023.

 

One of the driving factors behind the rapid growth of the vape market in Russia is the country’s large smoking population. More than one-third of the Russian population smokes, making it one of the largest smoking populations in the world. Vapes are a popular alternative for smokers who are looking to quit smoking or reduce their nicotine intake.

 

Another factor driving the growth of the vape market in Russia is the popularity of open tank systems, which allow users to refill their own e-liquids. This has resulted in a demand for a wide variety of e-liquid flavors and a thriving local e-liquid industry.

 

The top vape brands in Russia are largely international brands, with Chinese brand Joyetech and American brand Juul leading the market. Local companies such as FAS Corporation, MDC, and MyVape are also gaining traction.

 

However, vapes in Russia face some regulatory challenges. In 2017, the Russian government banned the sale of vapes and e-liquids online, and in 2020, they introduced new regulations that require vapes to be sold in specialized stores only. The regulations also prohibit advertising and promotion of vapes and e-liquids, and restrict the use of vapes in public places.

 

Despite these challenges, the vape market is still growing rapidly in Russia, with many Russian consumers turning to vapes as a healthier alternative to smoking. As the market continues to grow, it is likely that we will see more local vape brands emerge, and more international brands enter the market.

 

Overall, the Russian vape market is one to watch, with its large smoking population and growing demand for vapes and e-liquids. As the market continues to evolve and adapt to regulatory changes, there will undoubtedly be a wealth of opportunities for vape manufacturers and retailers operating in Russia.

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