E-Liquid Market to Grow with a CAGR of 13.5% Globally through to 2028
Rising adoption of safer alternatives to smoking
across the globe and the availability of e-liquids in various flavors are
factors driving the global e-liquid market in the forecast period 2024-2028.
According to TechSci Research report, “Global E-Liquid
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global E-Liquid Market stood at USD 1.9 billion
in 2022 and is anticipated to grow with a CAGR of 13.5% in the forecast period,
2024-2028. This growth can be attributed to shifting consumer preferences,
increasing awareness of the harmful effects of traditional smoking, and
technological advancements in vaping devices.
Disposable vapes are pre-filled e-cigarettes that do
not require any refilling or maintenance. This makes them convenient and easy
to use, which is driving their popularity among vapers. Nicotine-free e-liquids are becoming increasingly
popular among vapers who want to enjoy the flavor and experience of vaping
without the nicotine. CBD e-liquids contain cannabidiol (CBD), a compound
derived from the cannabis plant that has been shown to have a number of health
benefits. CBD e-liquids are becoming increasingly popular among vapers who are
looking for a healthier alternative to traditional e-liquids.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global E-Liquid
Market”
The global e-liquid market is expected to witness
significant growth in the coming years, driven by the rising adoption of safer
alternatives to smoking and the availability of e-liquids in various flavors.
The key players in the market are focusing on developing innovative products
and expanding their distribution channels to meet the growing demand. The
e-liquid market, also known as vape juice or vape liquid, has experienced
significant growth and transformation over the past decade. As e-cigarettes and
vaping devices have gained popularity as alternatives to traditional tobacco
smoking, the demand for e-liquids has surged.
E-liquids are available in an
astonishing variety of flavors, ranging from traditional tobacco and menthol to
exotic fruits, desserts, beverages, and even savoury options. The focus on
flavor innovation has been a driving force in attracting consumers and
retaining their interest. Nicotine salt-based e-liquids have gained popularity
for their smoother throat hit and higher nicotine content, making them an
attractive option for smokers transitioning to vaping. Disposables vape
devices, which come pre-filled with e-liquid and are discarded after use, have
become incredibly popular due to their simplicity and convenience. Pod systems
offer a more user-friendly and portable vaping experience. They typically use
pre-filled or refillable cartridges and have gained traction among both new and
experienced vapers. Some manufacturers are prioritizing cleaner ingredient
profiles, avoiding potentially harmful additives, and providing more
transparent labelling to cater to health-conscious consumers. Sustainability
and eco-friendliness are increasingly important in the e-liquid market, with
some companies adopting recyclable packaging materials and responsible
ingredient sourcing to minimize environmental impact.
In the United States, for example, the
regulatory environment has evolved, with the U.S. Food and Drug Administration
(FDA) implementing rules to restrict the sale of flavored e-liquids in an
effort to reduce youth vaping. These regulations have had a notable impact on
the market, with some manufacturers discontinuing certain flavors to comply
with the rules.
In Europe, the Tobacco Products
Directive (TPD) sets regulations for e-liquids, including limits on nicotine
strength and restrictions on advertising and labelling. The TPD has led to
standardization in product quality and safety across the European Union.
The consumer base for e-liquids is
diverse and includes various demographic groups. Understanding consumer
preferences is vital for manufacturers and retailers to effectively target
their products and marketing efforts.
The Global E-Liquid Market is segmented into type, flavor,
distribution channel, regional distribution, and company.
Based on flavor, The tobacco flavor segment accounted for
the largest market share in 2021, owing to its popularity among traditional
smokers. However, the fruits flavor segment is expected to register the highest
CAGR during the forecast period, due to its increasing popularity among young
vapers.
Based on region, North America accounted for the
largest market share in the global e-liquid market in 2021, owing to the
presence of a large number of key market players in the region. The Asia
Pacific market is expected to register the highest CAGR during the forecast
period, due to the increasing disposable income of individuals in the region
and the growing awareness of e-cigarettes as a safer alternative to smoking.
Major companies operating in Global E-Liquid Market
are:
- Black Note, Inc.
- Breazy; BSMW Ltd.
- Crystal Canyon Vapes LLC
- eLiquid Factory
- Mig Vapor LLC
- Molecule Labs, Inc.
- Nicopure Labs LLC
- Philip Morris International Inc.
- Turning Point Brands Inc.
- VMR Products LLC
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The market for e-liquids has witnessed robust growth
in recent years, fueled by shifting consumer preferences away from traditional
smoking and the increasing adoption of vaping devices. This expansion is driven
by a diverse array of factors, including flavor innovation, the introduction of
nicotine salt-based products, the popularity of disposable and pod systems, and
a growing awareness of the potential harm reduction benefits of vaping. As the
market continues to evolve, it shows no signs of slowing down, with a promising
future ahead.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“E-Liquid
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Pre-filled, Bottled), By Flavor (Menthol, Tobacco, Dessert,
Fruits & Nuts, Chocolate, Others), By Distribution Channel (Supermarkets
/Hypermarkets, Specialty Stores, Online, Others), By Region, By Competition,
2018-2028”, has evaluated the future growth potential of Global E-Liquid
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global E-Liquid Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com