E-Liquids Market is estimated to be US$ 4.38 billion by 2030 with a CAGR of 13.5% during the forecast period
E-liquids are the fluids used as fuel in electronic cigarettes, which impart flavor to the electronic cigarettes and create vapors that mimic the traditional smoke from cigarettes. Further, E-liquids are available in a variety of flavors such as original tobacco, mint, fruit, menthol, dessert, chocolate and candy. The rising adoption of safer alternatives to smoke, is expected to foster the market of e-liquids globally. Further, growing awareness among people, coupled with availability of e-liquids with a low level of toxicants, is further expected to drive the market.
Moreover, e-liquids also offer a price advantage over tobacco products and are available in various price range, and improving the affordability of e-liquids.
Region Analysis:
North America dominated the global market with a proportion of 43.23% in 2021, which can be attributed due to presence of key players such as Philip Morris International Inc, JUUL Labs, Turning Point Brands, Inc. in the region. Further, the Asia Pacific is estimated to be the quickest-growing location because of the rising affected person populace, growing consumption of tobacco smoking.
Key Development:
· In December 2018, British American Tobacco Company launched new products for vaping, with the incorporation of the new Puretech blade technology. The products unveiled were Vype iSwitch and Vype iSwicth Maxx. The technology is upgraded with the use of ulta-slim stainless-steel blades for the heating of e-liquid, instead of a coil and wick, enhancing overall functionality.
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Segmentation:
The global E-liquids Market accounted for US$ 1.4 billion in 2020 and is estimated to be US$ 4.38 billion by 2030 and is anticipated to register a CAGR of 13.5%. The global E-liquids Market is segmented based on base type, sales channel, flavor, and region.
· On the basis of product type, the global E-liquids Market is segmented into PG & VG, Vegetable Glycerin, and Propylene Glycol.
· On the basis of sales channel, the global E-liquids Market is segmented into Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Independent Small Groceries, and Online Retail.
· On the basis of flavor, the global E-liquids Market is segmented into Original Tobacco, Mint & Menthol, Fruits & Candy, Chocolate, and Others.
· On the basis of region, the global E-liquids Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global E-liquids Market includes VMR Products LLC, Mig Vapor LLC, VaporFi, Inc., Black Note, Nicopure Labs LLC, VistaVapors, Inc., ZampleBox, LLC., Fuggin Vapor Co., Silver Laboratories (Basix eLiqiuids), and Humble Juice Co.
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