E-Liquid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

E-Liquid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3663
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E-Liquid Market Overview 2023-2028:

The global E-liquid market is expected to exhibit a growth rate (CAGR) of 12.9% during 2023-2028.

E-liquid is a fluid used in electronic nicotine delivery systems (ENDS) or non-combustible tobacco products to generate vapor. It is heated to generate an aerosol that the user inhales to mimic the sensation of smoking tobacco. It is generally made using base ingredients, such as water, propylene glycol (PG), and vegetable glycerin (VG). At present, several manufacturers are offering e-liquid in a variety of natural flavors and nicotine strengths that vary depending on personal preferences.

Global E-Liquid Market

E-Liquid Market Trends:

E-cigarettes are considered safer as they do not burn tobacco and generate tar and carbon monoxide. Moreover, the rising awareness about the negative impacts of smoking on health is increasing the willingness among individuals to quit smoking, which is influencing the overall sales of e-cigarettes across the globe. This represents one of the key factors bolstering the growth of the e-liquid market. Additionally, several health organizations and governing authorities worldwide are undertaking measures, such as introducing prohibitive taxation, indoor smoking bans, and awareness campaigns to curb tobacco use. This is encouraging the utilization of ENDS as an alternate smoking cessation method, which, in turn, is contributing to the market growth. Moreover, leading players are utilizing social media platforms to offer customization in flavors, implement innovative promotional strategies, and expand their consumer base. They are also offering e-cigarette kits and accessories via online distribution channels. The growing popularity of personal vaporizers and box mods is anticipated to stimulate the demand for e-liquid across the global. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global E-liquid market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on flavor, base type, type and distribution channel.

Breakup by Flavor:

  • Menthol and Mint
  • Tobacco
  • Dessert
  • Fruits and Nuts
  • Chocolate
  • Others

Breakup by Base Type:

  • PG (Propylene Glycol)
  • VG (Vegetable Glycerin)
  • PG and VG

Breakup by Type:

  • Pre-Filled
  • Bottled

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Black Note Inc., Breazy Inc., Crystal Canyon Vapes LLC, e-Liquid Factory, Mig Vapor LLC, Molecule Labs Inc., Mt Baker Vapor LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands Inc. and ZampleBox LLC.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Flavor, Base Type, Type, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Black Note Inc., Breazy Inc., Crystal Canyon Vapes LLC, e-Liquid Factory, Mig Vapor LLC, Molecule Labs Inc., Mt Baker Vapor LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands Inc. and ZampleBox LLC
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the global e-liquid market to exhibit a CAGR of 12.9% during 2023-2028.

The increasing utilization of e-liquids in Electronic Nicotine Delivery Systems (ENDS), that are considered as a safer alternative of tobacco-based cigarettes, is primarily driving the global e-liquid market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for e-liquid.

Based on the flavor, the global e-liquid market has been segmented into menthol and mint, tobacco, dessert, fruits and nuts, chocolate, and others. Among these, tobacco currently holds the majority of the total market share.

Based on the base type, the global e-liquid market can be divided into PG (Propylene Glycol), VG (Vegetable Glycerin), and PG and VG. Currently, PG (Propylene Glycol) base exhibits a clear dominance in the market.

Based on the type, the global e-liquid market has been categorized into pre-filled and bottled, where bottled type currently accounts for the majority of the global market share.

Based on the distribution channel, the global e-liquid market can be segregated into supermarkets and hypermarkets, specialty stores, online stores, and others. Currently, supermarkets and hypermarkets hold the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global e-liquid market include Black Note Inc., Breazy Inc., Crystal Canyon Vapes LLC, e-Liquid Factory, Mig Vapor LLC, Molecule Labs Inc., Mt Baker Vapor LLC, Nicopure Labs LLC, Philip Morris International Inc., Turning Point Brands Inc., and ZampleBox LLC.

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E-Liquid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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