CIGARETTE sales volumes have continued to decline in most top global markets, while e-cigarettes sales have potential for high growth according to new data from the global market research company Euromonitor International.
Seven of the top 10 global markets showed declines in volumes in 2013, leading to an overall four per cent decline in world cigarette volumes excluding China. Only Vietnam and Indonesia, along with China, showed volume growth among the top 10 markets in 2013.
Euromonitor further estimates that Chinese consumers will account for half of all cigarettes smoked globally by 2018. Meanwhile increased growth in illicit trade has resulted in it providing one in 10 cigarettes consumed globally.
Although e-cigarettes are projected to account for only $7bn globally by the end of 2014, compared to the $800bn global total for the entire tobacco industry currently, e-cigarettes are seen as a potential growth area, with estimates for the e-cigarette global market value forecast to be $51bn by 2030.