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Analysis of new tobacco market in Japan and South Korea(1)

Release time: 2020-10-10 14:41:11    Hits: 65

Analysis of new tobacco market in Japan and South Korea 1

Recently, Huachuang Securities conducted in-depth analysis on the new tobacco market and tobacco system in Japan and South Korea, believing that the rising of the emerging e-cigarette market with constantly improved regulation will inject new vitality into the rapid development of the world e-cigarette industry. 

The independent research and development of enterprises to achieve product innovation will also promote the market bloom, product maturity and richness continue to improve, and further improve the acceptance of consumers to new tobacco products. The scale of the global new tobacco market is expected to continue to expand, and industrial chain related companies are also expected to usher in development opportunities.

The scale of new tobacco is beginning to take shape, and the market in Japan and South Korea is maturing

From 2004 to now, the development of new tobacco has gone through a development process from scratch, from single to diverse.Later, with the development of the new tobacco market, HNB and other new tobacco products came out and were soon favored by consumers.After a period of development, the Japanese and Korean markets have become increasingly mature, and the two new tobacco markets have their own characteristics.

Japan's HNB market is highly accepted, and Japan Tobacco performs well. Although under the background of tobacco control, the scale of Japan's tobacco market has been significantly affected, HNB has emerged as a new force, and the scale of the market has been rising year after year. 

Although the size of the Tobacco market in Korea has declined, e-cigarettes are rapidly popularized and their market share has been increasing year by year.In 2019, Japan accounted for 24.08% of the e-cigarette market, and South Korea for 11.65% (with some reservations). 

Japan: the government attaches equal importance to tobacco control and taxation, and Japanese tobacco relies on its local advantages to develop HNB

From the perspective of regulation, the Japanese government has been committed to domestic tobacco control. As early as 2003, it passed laws such as advertising law to regulate the promotion and packaging of tobacco products, and updated the Health promotion Law in 2018 to further strengthen tobacco control in public places. 

In terms of tax, the Japanese government has been constantly increasing the tax rate of traditional cigarettes from volume tax, and has gradually transferred to the tax method of mixed volume and price for new tobacco.

From the perspective of enterprises, As one of the four giants in the new tobacco industry, Japan Tobacco focuses on the local market, grasps the demand of local consumers, launches two products of low temperature and high temperature, and continuously consolidates its position in the local market. 

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