According to the latest report by IMARC Group, E-Liquid Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026. The global E-liquid market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during the next five years.
E-liquid is a fluid filled in electronic nicotine delivery systems (ENDS), such as vape pens and e-cigarettes, to generate vapor. The battery in these devices provides energy to heat the e-liquid, which turns it into a smooth vapor upon inhalation. E-liquids are available in both nicotine and non-nicotine variants with additional ingredients, such as propylene glycol (PG), water, vegetable glycerin (VG), and flavoring chemicals. These liquids can be formulated with different nicotine levels depending on consumer preferences.
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Market Trends
The rising adoption of e-cigarettes as a safer alternative to smoking is primarily driving the global e-liquid market as they generate less tar and carbon monoxide (CO). Moreover, increasing usage of e-cigarettes by the young demographic is propelling the market growth. Additionally, the availability of new flavors in e-liquids, such as blueberry and menthol, is expanding the acceptability of e-cigarettes amongst non-smokers, which is catalyzing the market growth further. Besides this, awareness campaigns by governments of several nations to curb the consumption of tobacco are creating a positive outlook for the market.
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 with Key Player:
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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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