Global E-Liquid Market to Grow at 11.61% During 2024-2032, Propelled by Shifting Consumer Inclination Toward E-Cigarettes

July 25, 2022 | Food & Beverages

According to the latest report by IMARC Group, titled "E-Liquid Market Report by Flavor (Menthol and Mint, Tobacco, Dessert, Fruits and Nuts, Chocolate, and Others), Base Type (PG (Propylene Glycol), VG (Vegetable Glycerin), PG and VG), Type (Pre-Filled, Bottled), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others), and Region 2024-2032," the global E-liquid market is expected to grow at a CAGR of 11.61% during 2024-2032. E-liquid refers to a fluid mixture composed of various base ingredients, including vegetable glycerin, propylene glycol (PG), and water. It is warmed up to create an aerosol, which is inhaled by consumers to mimic the sensation of smoking tobacco. Unlike traditional tobacco-based products, e-liquid does not comprise toxic substances, such as diacetyl, acetyl, diethylene glycol, acetone, propionyl, and diacetyl. Apart from this, e-liquid involves flavorings and other additives that can be natural, artificial, or organic. Consequently, it is extensively used in electronic nicotine delivery systems (ENDS) and non-combustible tobacco products for creating vapor, controlling nicotine dosage, and offering effective smoking cessation and instant satisfaction.

Global E-liquid Market Trends:

The shifting consumer inclination towards e-liquid and e-cigarettes as an alternative due to the growing consumer awareness regarding the several detrimental effects of consuming various tobacco-based products is primarily driving the market growth. In line with this, the increasing willingness amongst individuals to quit smoking and the escalating overall sales of e-cigarettes are augmenting product demand across the market. Additionally, the rising environmental concerns have resulted in the emerging trend of eco-friendly vaping, which helps eliminate the ecological load of disposing of huge volumes of discarded cigarette butts and reduce degradation caused by the cultivation of tobacco. Moreover, the widespread adoption of vaping devices, especially amongst the young population, owing to their multiple beneficial properties, including cost-effectiveness, easy availability, and customizability, are propelling the market growth. Apart from this, the introduction of technologically advanced e-cigarettes to provide an enhanced vaping experience, and strategic collaborations amongst key players to introduce e-liquid in varying flavors and innovative design kits, along with their easy availability across several distribution channels, are positively stimulating the market growth.

Market Summary

  • On the basis of the flavor, the market has been divided into menthol and mint, tobacco, dessert, fruit and nuts, chocolate, and others.
  • Based on the base type, the market has been segregated into PG (propylene glycol), VG (vegetable glycerin), and PG and VG. 
  • On the basis of the type, the market has been bifurcated into pre-filled and bottled.
  • Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, specialty stores, online stores, and others.
  • On regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some 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 Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
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Global E-Liquid Market to Grow at 11.61% During 2024-2032, Propelled by Shifting Consumer Inclination Toward E-Cigarettes
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