Will the Overseas Refillable Pod Market Share Grow?

October 15 news: Recently, Guojin Securities analyst Zhang Yanghuan analyzed the situation and predicted that the domestic new tobacco industry will continue its quarter-over-quarter sales growth in Q3. In overseas markets, the market share of refillable products is expected to rebound, but policy risks still need to be monitored going forward.

Zhang Yanghuan said that in overseas markets, the U.S. FDA recently fined 22 retailers for illegally selling unauthorized e-cigarette products and issued warnings to 168 brick-and-mortar stores, indicating a stricter overall enforcement stance. Sales of non-compliant disposable e-cigarette products may be significantly restricted, while the market share of pod-based products is expected to recover, and the market share of compliant brands in this category is also expected to rise further. In addition, although disposable e-cigarette growth in Europe remains strong for now, legislative proposals to restrict disposable e-cigarettes have recently been submitted for review, so related policy risks still need to be watched closely. In the domestic market, as atomized e-cigarette products under the new national standard continue to iterate and improve, combined with regulators' intensified crackdown on illegal products, terminal channel feedback shows that the Q3 quarter-over-quarter sales growth trend is continuing. Operating conditions across the domestic supply chain are gradually improving, and the quarter-by-quarter acceleration trend is expected to continue.