Consumer Goods & Retail

Global E-liquid Market

March 16, 2022
ID: SR/CG-102
Format:Pdf
Pages:220

Global E-liquid Market By Flavor (Tobacco, Menthol, Fruit & Candy, Chocolate and others), By Product Type (Pre-Filled and Bottled), By Distribution Channel (Online and Retail Store), By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2028.

Description

E-Liquid Market Overview

The global E-Liquid Market size was calculated at USD 1.9 Billion in 2021 and is estimated to reach USD 3.4 Billion by 2028, growing at a CAGR of 12.6% from 2022 to 2028. The rising adoption of safer options to smoking across the globe is expected to drive the demand for e-liquid/e-cigarettes over the forecast period. Furthermore, the availability of e-liquids in different flavors such as tobacco, menthol, chocolate, and fruit & nuts is further expected to boost the use of e-liquids. Growing health attention among people, associated with the availability of e-liquids with a low level of toxicants, is further anticipated to propel the market over the forecast period.

What is E-liquid?

Liquid for usage inside an e-cigarette is known as e-liquid but is also called e-juice or vape juice. E-liquids may contain nicotine, propylene glycol, vegetable glycerin or glycerol, other chemicals (including those used to create flavors) and, in some cases, water. Electronic cigarettes – or e-cigarettes – imitate the act of smoking, but they don’t burn tobacco. Rather, the e-cigarette is a battery-powered machine that works by heating liquid into an aerosol then inhaled into the lungs. Utilizing an e-cigarette is sometimes called ‘vaping.’

Growth Drivers

Increasing the Trend of Eco-friendly Vaping

E-cigarettes are securer as they do not burn tobacco and cause tar and carbon monoxide. Moreover, the rising attention about the negative effects of smoking on health is improving the willingness among people to stop smoking, which is affecting the overall sales of e-cigarettes across the world. It signifies one of the key elements supporting the growth of the e-liquid market. Additionally, several health organizations and governing authorities worldwide are undertaking actions, such as introducing prohibitive taxation, indoor smoking bans, and awareness campaigns to curb tobacco use. It encourages the utilization of ENDS as an alternate smoking termination method, which, in turn, donates to market growth.

Opportunities

Nicotine Salts Emerging as Biggest Vaping Trend

Nicotine salts are attaining traction in vaping products over conventional nicotine. Nicotine salts, unlike conventional nicotine, do not use additives or chemicals to remove nicotine. Instead, juice manufacturers take the natural salt from tobacco leaves for their e-juices. Vaping product factories also make multiple interpretations of close and easy-to-use salt nicotine devices. Vape juice businesses establish nicotine salt e-liquid, offering various advantages such as producing more nicotine in a single puff, allowing a person to vape at higher concentration without feeling a burning sensation in the throat and delivering a sensation comparable to smoking. As such, the need for nicotine salt is continually growing. Moreover, with the increasing number of vape machines, including pod vapes and vape pens, the need for nicotine salts, and in turn, e-liquid, is growing.

Restraints

Premarket Authorization and Strict Regulations

Vaping and e-cigarettes have delivered health advantages to smokers. However, it is still uncertain if e-liquids are secure for consumption. In many chances, the chemicals in e-liquids are unfamiliar to consumers, as these e-liquid bottles come in contact with other components that result in the evolution of toxic chemicals. Customers often question manufacturers in the e-liquid market about the negative results of flavors mixed with propylene glycol (PG) discovered in vape juices, which hinders the e-liquid market growth. To crush these limitations, manufacturers in the e-liquid market are selling vape juices after seeking FDA (Food and Drug Administration) premarket authorization; Manufacturers are creating increased awareness amongst youth about the regulatory norms by mentioning them vaping products.

Pre Covid-19 Impact on Global E-liquid Market

Before the covid-19 outbreak, the E-Liquid market was growing. This E-Liquid in vape mods, pod vapes, and vape pens are becoming a safe choice for conventional cigarettes. Similarly, the demand for vape pods has grown among young adults, considered technically safe compared to cigarettes. Pod e-cigarette has pop-up as the latest and largest trend, with new pod vape machines being made by producers, carrying out the usage of e-liquid. With new and modern expertise, organizations desire to grow new-smaller pod vape machines that are flattened and smart, created to be more beneficial and easy to use.

Covid-19 Impact on Global E-liquid Market

During the covid-19 outbreak, the Sudden outbreak of the covid-19 pandemic had shown to execute strict lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units and supply chain disruptions of electronic nicotine delivery systems (ENDS), thereby restricting the demand for e-liquid. Tobacco is also a major risk factor for non-communicable diseases, like cardiovascular disease, cancer, respiratory disease, and diabetes, putting people in critical conditions with higher risks for developing severe illness when affected by covid-19, which shows the decrease in the E-liquid market.

Post Covid-19 Impact on Global E-liquid Market

After the covid-19 outbreak, the growth prospect for the sales of e-cigarettes through online channels pushed online vendors to enhance purchase procedures in terms of security and dependability, which, in turn, pushed the demand for these products. Moreover, key players adopt online retail strategies to decrease costs and increase their margins. As a part of the strategic development, prominent players, such as Philip Morris Products SA, British American Tobacco PLC, and Japan Tobacco Inc., are establishing new products in the e-liquid market to gain dominance.

By Flavor Segmental Analysis

The market is segmented into Tobacco, Menthol, Fruit & Candy, Chocolate, and others based on flavor segmental analysis. Tobacco has dominated the market. It can be attributed to the rising demand for tobacco-flavored e-liquid among smokers as it delivers the feeling of smoking real tobacco. Furthermore, the increasing usage of tobacco products among students and females is expected to propel the development of the tobacco segment over the forecast period.

By Product Type segmental analysis

The market is segmented into Pre-Filled and Bottled based on product type segmental analysis. Bottled e-liquids let users supply their vape tanks fast and easily. Furthermore, bottled e-liquid can be held securely and safely for a longer time and create DIY e-juices. These elements are likely to support the segment achieving a favorable growth rate over the forecast period.

By Distribution channel Analysis

Based on distribution channel analysis, the market is segmented into Online and Retail stores. The retail store part monopolized the market. It can be attributed to some retail stores allowing customers to test various e-liquid flavors and e-cigarette products before purchasing.

By Regional Segmental Analysis

Based on the regional segmental analysis, the market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. North America monopolized the e-liquid market. Vendors are focusing on developing their existence in the region in terms of payment through mergers and investments. For example, in September 2018, Turning Points Brands, Inc. acquired International Vapor Group, LLC. This acquisition enabled Turning Point Brands Inc. to enforce vapor B2C media into its electronic vape and component distribution channel.

Competitors Analysis

The companies include Black note, Inc., Breazy, BSMW Ltd., Crystal Canyon Vapes LLC, eLiquid Factory, Mig Vapor LLC, Molecule Labs LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands, Inc., VMR Products and other prominent players in the global E-liquid market.

Key Stakeholders

Recent Developments

In August 2016, Flavors & More presented new premium e-liquid products – Cypher, Hawkeye, and iGen, in the premium class.
In December 2018, the British American Tobacco co. They established new developments for vaping incorporating the new Puretech blade technology. The developments revealed were Vype iSwitch and Vype with Maxx. The technology is boosted with ultra-slim stainless-steel blades to heat e-liquid rather than a coil and wick, improving overall functionality.

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 1.9 Billion
The revenue forecast in 2028	USD 3.4 Billion
Growth Rate	CAGR of 12.6 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The Companies include Black note, Inc., Breazy, BSMW Ltd., Crystal Canyon Vapes LLC, eLiquid Factory, Mig Vapor LLC, Molecule Labs LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands, Inc. and VMR Products are the key players.

Market Modelling

By Flavor

Tobacco
Menthol
Fruit & Candy
Chocolate
Others

By Product Type

Pre-Filled
Bottled

By Distribution Channel

Online
Retail Store

By Region

North America
Europe
Asia-Pacific
South America
The Middle East & Africa

Table Of Contents

Methodology

Request Sample

Frequently Asked Questions (FAQ):

What is E-liquid?

What is the market size of global e-liquid during the forecast period of 2022-2028?

The global E-Liquid Market size was calculated at USD 1.9 Billion in 2021 and is estimated to reach USD 3.4 Billion by 2028, growing at a CAGR of 12.6% from 2022 to 2028.

Who are the key players in the global e-liquid market during the forecast period of 2022-2028?

The Companies include Black note, Inc., Breazy, BSMW Ltd., Crystal Canyon Vapes LLC, eLiquid Factory, Mig Vapor LLC, Molecule Labs LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands, Inc. and VMR Products are the key players in the global e-liquid market.

Which segment has the highest revenue share in the global e-liquid market during the forecast period of 2022-2028?

Tobacco has dominated the market and accounted for the largest revenue share during the forecast period.

What are the latest opportunities are present in the global e-liquid market during the forecast period of 2022-2028?

Nicotine salts are attaining traction in vaping products over conventional nicotine opportunities to the global e-liquid market.

Select License

We Accept

Analyst support

After evaluating your requirements and addressing your technical problems, the expert analyst will resolve your query directly.

Customer satisfaction

According to your needs, our expert team will assist you with the capabilities, services, and proper research needs to be required and customize the report accordingly.

Inimitable expertise

Our expert team will create unrivaled reviews to provide you with a deep understanding of the reports.

Assured quality

We have created a systematic way to determine standards and satisfy your expectations.

Instant delivery

Unlike others, we provide you a great deal of instant delivery in the form of PDF/PPT/Word Doc directly to your email address within 24 hours after receiving full payment.

Privacy policy

We understand the inkling of your privacy, we will never misuse your email address.

Custom research service

We are giving you an opportunity through which you can directly ask our expert analyst to customize an exclusive study of the report to serve your research needs.

Quality & accuracy

We provide you with the accurate quality of the customized study of an exclusive report according to your research need.

Data visualization

As the business world’s growing faster every day, we understand the value of data management. We will create the reports by keeping all the visual data sets and metrics in the charts.

Information security

We truly respect your privacy and promise to keep your personal and confidential information safe and secure.

Global E-liquid Market