Due to the growing consumer demand for heated cigarettes in the Philippines and the increased export potential of heated cigarettes, the Philippine government is currently focusing on developing the heated cigarette manufacturing industry.
Ceferino Rudolph, deputy secretary of the Philippine Department of Trade and Industry, said that due to factors such as taxes and price increases, the demand for cigarettes in the Philippines is expected to decrease in the next few years, and the demand for heated cigarettes will increase significantly. Therefore, they welcome heated cigarette manufacturers to set up factories in the Philippines.
According to a report by Euromonitor, heated cigarette sales in the Philippines will be 660 million in 2022 and may increase to 4.06 billion by 2027.
Rudolph emphasized that under the free trade agreement, the production of heated cigarettes in the Philippines can enjoy tax incentives, which is very attractive to manufacturers. The Philippine tobacco industry has a good foundation. According to statistics, in 2022, tobacco products produced in the Philippines were mainly exported to South Korea (export value US$102.2 million), Thailand (export value US$98.29 million), Myanmar (export value US$49.4 million), and Singapore (export value US$43.02 million). and Malaysia (exports US$41.21 million).
According to Rudolph, multinational tobacco companies are actively looking for opportunities to produce heated cigarettes in the Philippines to better enter the Philippine market. Although the Philippines currently accounts for a relatively small share of the global tobacco industry, in emerging areas such as heated cigarettes, the Philippines has the opportunity to further enhance its competitiveness in the global market by increasing its level of specialization.
This development is of great significance to Guutuu vape, an vape company that focuses on market opportunities. As a company focusing on vape products, Guutuu vape has been paying attention to industry trends and actively looking for market opportunities.
Guutuu vapes also recognize the potential and development opportunities of the Philippine market and will continue to pay attention to developments in this field. As an enterprise that focuses on health and innovation, Guutuu vape will continue to strive to provide high-quality vape products and actively seek cooperation opportunities to promote the development of a smoke-free future in the Philippines.
To sum up, the Philippines is focusing on developing the heat-not-burn manufacturing industry, which has brought market opportunities to the vape company Guutuu vape. The policy support of the Philippine government and the growth of market demand provide development opportunities for heated cigarette manufacturers. Guutuu vapes will continue to pay attention to the development of the Philippine market, and based on this, continue to strive to provide high-quality vape products and contribute to a smoke-free future.
Tags: Philippine heat-not-burn industry，Industries that the Philippines focuses on developing，Guutuu vape