How much does COVID-19 affect the vape industry?

According to data from the vape Industry Committee of the China Electronics Chamber of Commerce, as the epidemic has Vape industry at home and abroad confronted degree of opportunities and challenges of different:

China: China is the world’s vape production base and Accessories alone accounts for 95% of global proportion smoke IJOY Vape. The United States and the United Kingdom are the first and the second largest consumer in the world, and the main consumers of vape in China Asmodus vape mods. Domestic Vape companies have resumed at the end of February, the work, and basically working again at full capacity in March. achieved during the epidemic, the demand for overseas orders was strong, and the export value from January to April was estimated 10 billion yuan, the same as during the same period in 2019, and the rapid growth in April. At the same time, many domestic Vape companies will increase investment, including product research and development and equipment investment and strengthened to improve their own Captain IJOY strength in the “special period”. We believe that this means that practitioners are optimistic about the future development of the industry.

vape pen
USA: IJOY Neptune The United States is the largest consumer market in the world for vape for more than 50% accounts for the global share.IJOY Mercury Vape It is the wing of the global Vape industry and affected most market for the industry. According to data from the vape technology exchange Industry Association (VTA), the impact of the epidemic began in mid-March. The first is to prevent the slowdown in imports, the distributor of shipping products. Among the 43 states that “stay at home”, the restriction order have implemented, only 10 states have Vape retail stores still open, and 3 States only roadside delivery Eleaf Vape. But it is also difficult to provide their own products for these transactions. converted to support e-liquid manufacturer in the United States and their production lines hand sanitizers, the fight against the epidemic. In June, almost all states have resumed operations, and only some areas have not yet reopened. It is worth mentioning that at the request of the IJOY Captain 2 Mod, the PMTA time the FDA for Vape companies was extended from 12 May 2020 to 9 September 2020, want to open the US market world time for Vape companies to buy. Currently, China’s leading companies like Vape McWell (the parent company Smolar listed on the Hong Kong stock exchange) and relx prepared for PMTA.

United Kingdom: The United Kingdom is the vape-supported country in the world and the second largest country in China’s exports vape. According to the UK Vape  IJOY Mystique Tank Industry Association (UKVIA), there are currently more than 3,000 Vape stores in the UK, an increase of 10% over the previous year. The British Vape retail store has store services since mid-June 24 and reopened in March suspended. Overall, total sales decreased by 30% to 60%, of which open Vape product sales fell by 60%, but because many stores on online sales connected and provided distribution services IJOY Diamond, online sales by 1500% increase. because of the subsidies In addition, the government seen to rise despite the decline in sales this business their profits. UKVIA believes that the damage to the British supply chain during the epidemic mainly from China was due to insufficient supply what they need made aware of to ensure a stable and secure supply chain with China.

Europe: According to the European Vape Association (IEVA) due to the epidemic, vape branches in Germany and most European Union countries to close necessary since March, and they did not open until mid-May IJOY Mercury Vape Pod System . During the epidemic due to the effects of vape sales, wholesalers and factories pressure were faced with inventory backlog and cash flow; Vape the exhibition in the same period was also canceled. At the same time, due to the strict hygiene standards and rising freight cos Government YOOZ Vape

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