The market share of open pod systems on the Korean market is much higher than in other regions.
By VV staff report
Korea Vape Show 2023 (KOVAS) is the best launching point for entering the Korean market, according to a Wingle Group report of the show. Wingle is a Hong Kong-based business platform company founded in 2010 that facilitates mutually beneficial cooperation between consumer electronics, healthcare and e-consumer companies.
KOVAS is a vaping business exhibition that connects domestic and overseas distribution buyers and companies from more than 20 countries. The dynamic event exhibits the latest technologies from the vape industry, and more than 50 companies were given the opportunity to promote their products to more than 15,000 visitors. KOVAS was held in late July at the Korea International Exhibition Center, commonly known as KINTEX, located in Ilsanseo-gu, Goyang, Gyeonggi Province, South Korea.
Listed below are 10 takeaways from the Wingle report:
- The Haka brand showcased its Haka Q (Metex Melux) heated-tobacco system with Bluetooth connectivity for consumption tracking. Haka also promoted its new disposable e-cigarette Haka S, Haka Glow with the FEELM Max ceramic heater. Haka is completely powered by Shenzhen Smoore Technology.
- Aspire launched its prefilled pod system Gotek S. The next planned market is the U.K. The company also showcased its new Peboo pod mod.
- Geekvape presented the Geekvape & PAX Vape pod mod with VPU technology for an improved vapor performance.
- Daddy’s Vapor promoted the Pyro 6000 disposable powered by Smoore’s Topower battery solution, which claims to have 30 percent more capacity compared to mainstream batteries with the battery size remaining unchanged.
- Korean wholesaler Dragon Vapes promoted Uwell’s upcoming releases: Valyrian Air, Valyrian Pro and Valyrian Max pod systems.
- Pura presented two new products: Pura Legend pod system and the Pura MyBox 5000 disposable.
- Smok showcased its new Spaceman SP7000 disposable with battery and e-liquid indicators.
- Innokin launched Klypse Mecha and Innobar R2 open pod systems.
- Several new high-capacity disposables with a display were highlighted: Vapengin Nimmbox 8500, Orca Air 7500, Yooz BC8000, Mosmo VD8500, Mosmo SO7500, Mosmo Jucy Punk II 7000, Oukitel Aqua 12000, Oukitel 9000, Sanyeah C290 5000, Firerose IN7500 and Nasty DX 8.5i.
- There were also several new compact-size pod systems: Aspire GoTEK Pro, Smoant Levin, Pura Legend, Viento Magnum, Innokin Klypse Mecha, Innokin Klypse Zip, Innokin Innobar R2, Rincoe Jellybox V1, Rincoe Jellybox V2 and Rincoe Jellybox V3.
Most of the presented and marketed devices at KOVAS have futuristic electromechanical designs with transparent bodies, according to the Wingle report, which also detected a trend toward making pod systems less expensive. Additionally, the market share of open pod systems on the Korean market is much higher than in other regions.
Heat-not-burn players on the Korean market include Smoore (Haka Korea), Shenzhen SMY (Pluscig, Morex) and Shenzhen Yunxi Smart (UWOO), according to Wingle. Smoore, the world’s largest atomization company, seemed to also attempt to generate new leads and establish new relationships for the expansion of its FEELM-powered devices. Disposable vaping products had a strong presence, and the segment continues to grow globally.
KOVAS 2023 was a success, according to Wingle. That may be due to South Korea’s next-generation tobacco market showing a booming trend in recent years, according to data from Euromonitor. The country’s heated-tobacco market was valued at KRW2 trillion in 2021 and is expected to reach nearly 2.5 trillion won by 2025. And according to a survey by the South Korean Ministry of Strategy and Finance, the share of the entire tobacco market held by the e-cigarette segment in Korea rose from 2.2 percent in 2017 to 14.8 percent in the first half of 2022.