Russia's e-cigarette oil imports surged in the first half of the year, with bottled oil accounting for 40% of the market share

Russia's e-cigarette oil imports surged in the first half of the year, with bottled oil accounting for 40% of the market share

In the first half of 2024, Russia's e-cigarette oil imports nearly doubled, and about 40% of the e-cigarette oil market was occupied by bottled oil.

According to Kommersant, Russia's e-cigarette oil imports nearly doubled in the first half of 2024, reaching 3.2 million equivalent packages (Editor's note: Equivalent packaging is usually used to measure the uniform standard of volume or quantity). This data was provided by the Frontier Technology Center (ЦРПТ), which is responsible for the "Honest Label" project.

According to the data, Russia's e-cigarette oil imports nearly doubled in the first half of 2024, reaching 3.2 million equivalent packages. 60% of the market is disposable equipment, mainly from China. This growth is related to product legalization and market demand expansion. About 40% of the e-cigarette oil market is occupied by bottled oil, which is mainly produced in Russia. According to Sergey Grigoriev, chairman of the Russian Electronic Cigarette Market Professional Union (Лев Григорьев), the average retail price of bottled e-liquid has dropped to 1,000 rubles (about 84.12 yuan), a year-on-year decrease of 51.6%.

According to ЦРПТ, Russia's tobacco product imports in the first half of 2024 increased by 35.1%, with a total of 215.5 million packs. The main supply category in the market is cigarettes, and the import volume of cigarettes in the second quarter reached 93.3 million packs, an increase of 27.3% year-on-year. At the same time, the import volume of cigarillos increased significantly to 12.4 million packs, 6.6 times that of last year. The total sales of cigarettes increased by 8.3% year-on-year, while that of cigarillos increased by 15.8%.

According to Maxim Korolev, General Manager of Russian Tobacco, quarterly fluctuations in imported tobacco do not always reflect market trends, mainly due to the long and uneven tobacco import cycle.