E Liquid Market - Positive Long-Term Growth Outlook 2024

E Liquid Market: Overview

E liquid is the liquid content that fuels the electronic cigarette or the personal vaporizer which substitute the traditional tobacco smoke. E-liquid, also known as E-juice, contains the nicotine solution in much lower quantity in comparison with a traditional smoke. An E-liquid also delivers nicotine in a vapor rather than in smoke form and thus it is significantly safer compared to other tobacco products. E-Cigarettes are the devices that are primarily used as an aid to reduce or quitting smoking. Overall, the increasing awareness the advantages of E-liquid smoking over the tobacco smoking leads to the significant growth of E-liquid market over the forecast period. The nicotine content in E-liquid generally ranges between 0 to 20 MG/ML. The market for E-liquid that contains nicotine is much higher than nicotine free E-liquid market. The biggest market is for the E-liquids that contains 12 to 18 MG/ML of nicotine.

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E Liquid Market: Drivers and Restraints

The global E-liquid market is projected to grow at a significant CAGR as the demand of ultimate end use market (E-Cigarette Market) is anticipated to grow over the forecast period. Increasing health awareness is driving the switch from traditional tobacco smoking to E-smoking, which directly will cause a surge in demand for E-liquid. Though E- liquid vapor contains some of the toxicants present in tobacco smoke, still they are at much lower levels. The considerable low cost of E-cigarettes as compared with tobacco products also motivate smokers to switch to these devices. Easy availability of E-liquid through online as well as retail channel, in addition to availability in a large array of cartridge flavors is also supporting the market in higher penetration.

However, the market is restrained from growth due to factors including risk of poisoning from ingestion of e-liquids, fire threats from electrical elements of the E-cigarette and battery explosion threats. E-liquid may also cause other health ill effects as the vapors may contain some toxins, heavy metals and harmful chemicals which are not found in tobacco smoke.

E-Liquid Market: Segmentation

On the basis of Base Type, the global E-liquid market is segmented as follows:

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

On the basis of Cartridges Type, the global E-liquid market is segmented as follows:

• Prefilled
• Refillable

On the basis of Flavours, the global E-liquid market is segmented as follows:

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

E-Liquid Market: Region Wise Outlook

The global E-liquid market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The Western Europe is dominating the global E-liquid market and contributing a major share in the global E-liquid market. North America and Eastern Europe regions are also the fastest growing E-liquid markets due to the high adoption rate of E-cigarette. APEJ and Japan are expected to register a moderate growth rate to the global E-liquid market. MEA is at a nascent stage in the global E-liquid market. Overall the global E-liquid market is expected to register a significant market growth over the forecast period 2016 to 2026.

E Liquid Market: Key Players

• eLiquid Factory
• VMR Products LLC
• VaporFi, Inc
• Mig Vapor LLC
• Black Note
• Halo
• VistaVapors, Inc.
• Mt Baker Vapor
• ZampleBox, LLC
• Breazy
• Henley
• Virgin Vapor
• Crystal Canyon Vapes LLC
• Strix Elixirs
• Vape Dudes
• Highbrow Vapor