Malaysia's government is set to levy more than $1.5 billion on the fast-growing e-cigarette market

According to recent survey data by the MVCC (Malaysian Vaping Chamber of Commerce), the domestic vaping industry in Malaysia is growing rapidly and becoming a valuable contributor to the country's economy.

Data for 2022 shows that e-cigarettes were worth RM2.27bil in Malaysia in 2019, and currently, the retail value of the industry has grown 9.6% to RM2.49bil.

Due to the COVID-19 pandemic, the number of e-cigarette specialty stores has dropped from 3,000 to 2,250 compared to 2019.

According to MVCC's latest estimate, the number of domestic manufacturers in Malaysia is 200, while the number of importers has increased to 100. Separately, MVCC estimates that the e-cigarette industry now provides direct and indirect employment to 31,500 workers.

The e-cigarette industry is also poised to contribute a significant amount of revenue to the country, with economists saying that once the regulations take effect, the government could collect up to RM1 billion in excise tax revenue from the industry and send a message of confidence to investors to pour more domestic and foreign investment into the e-cigarette industry.

Based on MVCC survey data, it is estimated that the number of vape consumers in Malaysia has increased to 1.4 million to 1.5 million users, as available data shows that the sales volume of vape products in the market has increased." This further demonstrates the urgency of regulation to ensure that e-cigarette consumers in Malaysia have access to products that meet quality and safety standards, "MVCC Secretary-General Ridhwan Rosli said in a statement today.

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