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The global E-liquid market exhibited strong growth during 2015-2020. 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.
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. Looking forward, IMARC Group expects the global E-liquid market to grow at a CAGR of around 15% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global E-liquid market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, flavor, base type, type and distribution channel.
Breakup by Flavor:
Breakup by Base Type:
Breakup by Type:
Breakup by Distribution Channel:
Breakup by Region:
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.
According to the estimates by IMARC Group, the global e-liquid market is expected to witness a CAGR of 15% during 2021-2026.
The increasing utilization of e-liquids in electronic nicotine delivery systems (ENDS)that are considered as a safer alternative of tobacco-based cigarettes represents one of the key drivers for the global e-liquid market.
Several leading players are utilizing social media platforms to offer customization in flavors, introduce innovative promotional strategies, andoffer e-cigarette kits and accessories via online distribution channels. These represent some of the key trends in the global e-liquid market.
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 manufacturing units and supply chain disruptions of electronic nicotine delivery systems (ENDS), thereby limiting the demand for e-liquid.
On the basis of the flavor, the market has been segregated into menthol and mint, tobacco, dessert, fruits and nuts, chocolate, and others. Among these, tobacco dominates the global market.
On the basis of the type, the market has been bifurcated into pre-filled and bottled. Currently, bottled holds the majority of the total market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global e-liquid market are 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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