E-liquid Market: Global Industry Analysis and Forecast (2023-2029) By Type, Flavor, Distribution Channel, and Region

E-liquid Market size was valued at US$ 1.80 Billion in 2022 and the total E-liquid revenue is expected to grow at 13.4% through 2023 to 2029, reaching nearly US$ 4.34 Billion.
Global E-liquid Market Overview:
E-liquid, commonly known as e-juice or vape juice is a liquid mixture of nicotine base liquid and flavoring agent that is heated to smoke and used in e-cigarettes. E-liquid is made by using a natural extraction process, which is increasing its market popularity because natural and plant-derived goods are in high demand these days. Furthermore, e-liquids are created from vegetable glycerin and are free of compounds found in traditional cigarettes, such as diacetyl, acetyl propionyl, ethylene glycol, diethylene glycol, and acrolein or acetoin, which can cause a variety of health problems.

The increased popularity of e-liquids among millennials and smoking popularity, especially among young adults and adolescents are the driving factors for the growth of the E-liquid market. In the market, e-cigarettes come in a variety of shapes and sizes, as well as customized options. People prefer innovative designs and kits over conventional e-cigarettes in the form of pens. Concerns among smokers about the presence of toxicants in e-liquids, on the other hand, are expected to limit market expansion in the coming years.To know about the Research Methodology :- Request Free Sample Report

In this report, the E-liquid market's growth reasons and the market's many segments (Type, Flavor, Distribution Channel, and Region.) are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the wiring duct market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global E-liquid market situation.
E-liquid Market Dynamics:
Rising global adoption of safer alternatives for smoking, people's growing health awareness, along with the availability of e-liquids with low levels of toxicants, and the availability of e-liquids in a variety of tastes, including tobacco, menthol, chocolate, and fruit and nuts is expected to increase e-liquid consumption over the forecast period.

E-cigarettes don't burn tobacco or produce tar or carbon monoxide, therefore e-cigarettes are considered to be safer for smoking. Furthermore, as people become more aware of the harmful effects of smoking on their health, they are more inclined to quit, which is influencing total e-cigarette sales throughout the globe. This is one of the most important reasons driving the e-liquid sector forward.

The marketing of e-cigarettes is subject to a number of regulatory limitations. For example, unless the US Food and Drug Administration grants an order permitting such statements, marketing materials for e-cigarettes cannot include claims that the product exposes consumers to less pollutants. As a result, the e-cigarette restrictions discussed above are expected to harm the e-liquid market growth throughout the forecast period.

Concerns among smokers about the presence of toxicants in e-liquids, on the other hand, are expected to restrict E-liquid market growth throughout the projected timeframe. As a result, market participants are substantially investing in the research and development of better and safer e-liquids.

Market players are launching different types of e-liquid flavors in the market to fulfill the evolving preferences of people. Tobacco-free formulation and availability of several flavors and growing the non-group smokers fundamentally drives the E-liquid market during the forecast period.

This statistic displays the worldwide percentage of smokers that knew that smoking is harmful to their health as of 2022, by country. According to the data, at that time just 57% of consumers in India knew that smoking is harmful to their health.


E-liquid Market Segment Analysis:
By Type, the bottled segment dominated the market, accounting for almost 50.0 percent of total revenue in 2020. Users can quickly and simply refill their vape tanks with bottled e-liquids. Bottled e-liquid may also be used to make DIY e-juices and can be stored securely and safely for a longer period. These factors are projected to boost the segment throughout the forecast period.

By Flavour, the tobacco segment dominated the market, accounting for nearly 30 % of total revenue in 2022. This is due to the growing popularity of tobacco-flavored e-liquid among smokers since it produces the sensation of smoking real tobacco. Furthermore, rising tobacco consumption among students and females is expected to drive the tobacco segment's growth over the forecast period.



By End-use, the offline distribution segment had the highest revenue share in the global market in 2022. Hypermarkets, supermarkets, specialty stores, and convenience stores are all part of the offline channels sector. Hypermarkets and departmental stores sell bulk availability of different products under one roof. As a result, customers prefer hypermarkets for bulk purchases of everyday necessities. This is likely to fuel the rise of the offline channel segment in the worldwide e-liquid market over the forecast period.
Market Regional Insights:
North America dominated the global e-liquid market accounting for almost 40% of total revenue in 2022. This is due to the presence of important vendors in the region, such as JUUL Labs, Inc., Philip Morris International Inc., Turning Point Brands, Inc., and Nicquid. Furthermore, these suppliers are concentrating on increasing their revenue footprint in the area through mergers and acquisitions. This tendency is projected to continue to fuel market growth in North America.

The Asia Pacific regional market is expected to grow significantly over the forecast period. This is due to an increase in lung cancer cases as a result of rising tobacco cigarette consumption, as well as the widespread belief that e-cigarettes and e-liquids are safer than regular cigarettes. According to an article published by Oxford University Press, China recorded approximately 690,000 lung cancer deaths in 2018. Furthermore, high costs of traditional cigarettes in Japan are likely to encourage smokers to use e-cigarettes more frequently, boosting the market's growth.

The objective of the report is to present a comprehensive analysis of the E-liquid market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps understand the E-liquid market dynamics and structure by analyzing the market segments and projecting the E-liquid market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the E-liquid market make the report investor’s guide.
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Global E-liquid Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.80 Bn.


Forecast Period 2023 to 2029 CAGR:
13.4%
Market Size in 2029:
US $ 4.34 Bn.


 Segments Covered:
by Type
Bottled
Pre-Filled


by Flavour
Fruit and Nuts
Tobacco
Deserts
Chocolate
Menthol
Others


by Distribution Channel
Offline
Online



E-liquid Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
E-liquid Market Key Players
1.VMR Products LLC
2.Mig Vapor LLC
3.VaporFi, Inc.
4.Black Note
5.Nicopure Labs LLC
6.VistaVapors, Inc.
7.ZampleBox, LLC.
8.Fuggin Vapor Co.
9.Silver Laboratories (Basix eLiqiuids)
10.Humble Juice Co.
11.USA Vape Labe
12.Savage Enterprises, LLC.
13.Mr. Macaron Vapes Corporation
14.Mt baker Vapor
15.Smax Holdings LLC (Smax E-Liquids)
16.BSMW Ltd.
17.VapeWild
18.Molecule Labs, Inc.
19.Vapor Labs
20.Dynamic Creations.

FAQs:

1. What is the key driver of the E-liquid Market?
Ans. Rising global adoption of safer alternatives for smoking, people's growing health awareness, along with the availability of e-liquids with low levels of toxicants, and the availability of e-liquids in a variety of tastes, including tobacco, menthol, chocolate, and fruit and nuts is expected to increase e-liquid consumption over the forecast period.

2. What is the restraint in E-liquid Market during the forecast period?
Ans. Concerns among smokers about the presence of toxicants in e-liquids, on the other hand, are expected to restrict E-liquid market growth throughout the projected timeframe.

3. What is the projected market size & growth rate of the E-liquid Market?
Ans. E-liquid's Market size was valued at US$ 1.80 Billion in 2022 and the total E-liquid revenue is expected to grow at 13.4% through 2023 to 2029, reaching nearly US$ 4.34 Billion.

4. What segments are covered in the E-liquid Market report?
Ans. The segments covered are By Type, Flavor, Distribution Channel, and Region.