- On July 3, the FDA reissued two application documents related to the renewal of the existing Modified Risk Tobacco Product (MRTP) order for Swedish Match USA, Inc.’s General Snus product and extended the public comment period to allow the public time to review these application materials.
- Roy Cooper, the governor of North Carolina, signed four new bills, including a vape registry bill, which manufacturers must obtain certification when selling these products in North Carolina.
- Market analysis company Valuate also estimates that the global hookah tobacco product market is still concentrated in the Middle East and Africa. They said the second largest market share is occupied by Europe. Valuate estimates that the global hookah tobacco product market was worth more than $800 million in 2022 and predicts that the market size will nearly double by 2029.
- CITIC Securities judged that the global economy faces uncertainty in 2024, and the tobacco industry reflects rigid demand characteristics. Given that the US vape regulatory policy has frequently released positive signals, Philip Morris International and British American Tobacco have also reached a patent settlement on HNB products, and the growth expectations of the new tobacco industry in the second half of the year are expected to improve.
- In May 2024, China’s vape exports to Canada were approximately US$23.13 million, a month-on-month increase of 39.5% and a year-on-year increase of 12%; the export volume was approximately 521 tons, a month-on-month increase of 40.29% and a year-on-year increase of 33.38%.
- Russia plans to increase the tax rate on vape oil to 44 rubles (US$0.5) per milliliter in 2025, 46 rubles (US$0.52) in 2026, and 48 rubles (US$0.54) in 2027.