E-liquids market size worth $ 3.3 billion by 2027
SAN FRANCISCO, January 25, 2021 / PRNewswire / – The World e-liquids market the size should reach $ 3.3 billion by 2027, according to a new study from Grand View Research, Inc. The market is expected to grow at a CAGR of 13.4% from 2021 to 2027. The advent of electronic cigarette products such as squonk mods and systems of pods has increased its popularity. and adoption in recent years. The increasing demand for these products globally is expected to drive the market during the forecast period. In addition, the general presumption that these products can reduce the risk of lung disorders is fueling the market. In addition, the absence of the tobacco combustion process that is often found in conventional smoking products is expected to drive the market in the near future.
Main suggestions from the report:
- In terms of flavor, the menthol segment is expected to register the highest growth rate during the forecast period due to the increasing adoption by young people, especially among college students, coupled with its availability at affordable prices. .
- In terms of type, the bottles segment is expected to grow at a significant rate from 2021 to 2027. This can be attributed to the fact that the bottles allow users to make their own e-liquid by adding two or more e-liquids.
- In terms of distribution channel, the online segment is expected to register a significant growth rate during the forecast period, as it provides customers with a wide variety of e-liquids that customers can choose from.
- In terms of region, Europe is expected to register notable market growth from 2021 to 2027. This can be attributed to the growing awareness of individuals for the tobacco-free formulation of e-liquids.
Read the 120-page research report with table of contents on ‘E-Liquids Market Size, Share & Trend Analysis Report By Flavor (Menthol, Tobacco, Chocolate), By Type (Pre- Filled, Bottled), By Distribution Channel (Online, Retail Store), By Region and Segment Forecast, 2021 – 2027 “to: https://www.grandviewresearch.com/industry-analysis/e-liquid-market
The growing adoption of e-cigarettes among young people is increasing the market value of e-liquids. Due to the absence of tobacco and the availability of various flavors, such as chocolate, menthol, blueberry, and a range of fruit flavors, the appeal and acceptability of these products is also expected to increase among non-consumers. -smokers. The increasing demand for electronic cigarettes and vapes in the market can also be attributed to their minimal environmental footprint compared to traditional cigarette buds. As e-liquids are used in e-cigarettes and vaporizers, producers are capitalizing on the green vaping trend, which is catching the attention of consumers.
Market players focus on mergers and acquisitions, collaborations and partnerships in order to expand their distribution networks and build an international presence for their brands. For example, in January 2018, Nicopure, an e-cigarette and e-liquid manufacturer, announced a partnership with VapÂ®r Ltd., an e-cigarette and e-liquid distributor in Bulgaria. Nicopure appointed VapÂ®r Ltd. as one of its distributors in Bulgaria. The partnership allowed the premiere to expand its brand’s presence in Bulgaria.
Key players are investing more and more in the marketing and distribution of their products due to increasing competition in the market. For example, in July 2019, Turning Point Brands, Inc., a manufacturer and distributor of consumer products, has invested $ 3.0 million in the Canadian distribution company ReCreation Marketing. Through the ReCreation Marketing platform, the company launched RipTide, an e-liquid vape technology, and a variety of Nu-X products in Canada.
Grand View Research has segmented the global e-liquids market on the basis of flavor, type, distribution channel and region:
- E-Liquids Flavor Outlook (Revenue, USD Million, 2016 – 2027)
- the tobacco
- Fruits & Nuts
- E-Liquid Outlook (Revenue, USD Million, 2016 – 2027)
- E-Liquids Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
- In line
- Retail store
- Grocery store
- Newspaper kiosks
- Specialty stores
- Regional E-Liquids Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of key players in the E-liquid market
- Black Note, Inc.
- BSMW Ltd.
- Crystal Canyon Vapes LLC
- ELiquid Factory
- Mig Steam LLC
- Molecule Labs, Inc.
- Nicopure Labs LLC
- Philip Morris International Inc.
- Turning Point Brands, Inc.
- VMR LLC Products
Find more research reports on Next Generation Technology Industry, by Grand View Research:
- Electronic cigarette and vape market – The size of the global electronic cigarette and vape market has been estimated to be $ 12.41 billion in 2019 and is expected to grow at a revenue-based CAGR of 23.8% from 2020 to 2027.
- American electronic cigarette and vape market – The size of the US electronic cigarette and vape market has been estimated to be $ 6.09 billion in 2020. It is expected to grow at a compound annual growth rate (CAGR) of 27.3% from 2021 to 2028.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess opportunities as they arise.
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