Global e-liquid market valuation is expected to reach 6.7BN by 2027. The market is anticipated to register 15.6% CAGR over the forecast timeline
The global e-liquid market valuation is expected to reach 6.7BN by 2027. The market is anticipated to register 15.6% CAGR over the forecast timeline. The e-liquid market report covers forecast and analysis on a global and regional level. The research scope presents a widespread exhaustive valuation of the market, emerging trends, competition, opportunities, and industry-validated market facts. The research report provides significant data of 2016, 2017, & 2018 along with an assessment from 2019 to 2026 based on revenue (USD Million).
Emerging of e-liquid as a solution to reduce smoking is positively impacting the global e-liquid market growth. With the advent of pod vaping technology, the e-liquid market is anticipated to witness potential growth over the upcoming years.
E-liquid is also known as vape juice or e-juice, which is a blend of nicotine, base liquid, and a flavoring agent that is used in e-cigarettes. E-liquids do not produce smoke, hence prevents passive smoking. For refreshments, various flavors are used in e-liquid, including chocolate, mint & menthol, fruits & nuts, etc. E-liquids that are used in e-cigarettes reduce the risk of lung disorders as there is absence of a tobacco burning process which generally occurs in traditional cigarette smoking. The e-liquid Flavors mostly contain water, propylene glycol, flavoring agents, and nicotine. In addition to this, some manufacturers have also introduced e-liquids without using these harmful ingredients for non-smokers group.
E-cigarettes are gaining popularity, especially among millennial. The increasing usage of e-cigarettes among consumers coupled with rising disposable income is heavily escalating the market value of e-liquid. Increasing health concerns among geriatric population and increasing awareness among them regarding raw Base Types used e-liquids which are used in e-cigarettes are further boosting the market presence.
Owing to the tobacco-free formulation and availability of various flavors, including mint & menthol, chocolate, blueberry, and different fruit flavors, the market is gaining traction for non-smokers groups too.
On the contrary, strict rules and regulations on the manufacturing and distribution of e-liquid Base Types, which are implied by several governments such as US and Germany, hinder the market growth. Due to such circumstances, there is decline in the sales of e-cigarettes and vapor Flavors.
E-liquids were initially sold in retail outlets such as in vape shops and gas shops. Consumers found very genuine experience of using vape Flavors in retail outlets; in fact, there were too many options for consumers in the store to try vape Flavors. However, with the emergence of e-commerce and increasing internet penetration, consumers are shifting their purchasing preferences. Moreover, sellers with their own shop websites are placing their Flavors on the web to sell.
The presence of major industry player VMR Flavors LLC in the North America region is expected to accelerate the growth of the market over the horizon. The increasing popularity of vape devices in the region has propelled the market value over the years. However, stringent regulations by the government have hampered the sales of e-liquid market. Whereas, Asia-Pacific region has expected the fastest growing market over the forecast period owing to the increasing adoption of vape Flavors and e-cigarettes, with rising number of cases of lung cancers due to tobacco smoking.
Some of the major players in the global e-liquid market are VMR Flavors LLC, Mig Vapor LLC, ZampleBox, LLC, VistaVapors, Inc., Halo, Mt Baker Vapor, VaporFi, Inc., eLiquid Factory, Black Note, Virgin Vapor, Vape Dudes, Crystal Canyon Vapes LLC, Breazy, Strix Elixirs, Highbrow Vapor, Henley, and among others. The major approaches implemented by these leading companies in the market are new Flavor launches, collaborations, and mergers & acquisitions. These companies are focusing more on investment in innovations, partnerships, expansions, and innovations to increase their market share.
This report segments the global e-liquid market as follows:
Global E-Liquid Market: Flavors Segment Analysis
Global E-Liquid Market: Distribution Channel Segment Analysis
Global E-Liquid Market: Base Type Segment Analysis
Global E-Liquid Market: Product Segment Analysis
Global E-Liquid Market: Regional Segment Analysis