The biggest opportunity for the e-liquid market is expected to increase significantly by 2027
According to a new study on the e-liquid market by TMR, e-liquid sales are estimated at ~5 mins liters in 2019, and record an annual growth of ~16% in 2019. The growth of the e-liquid market continues to be driven by a multitude of aspects, which range from growing consumer awareness of e-cigarettes to greater convenience compared to conventional cigarettes. The different flavors available in e-liquids are also driving demand from the younger generation.
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E-liquid products are available in the market in different flavors and base types. Flavors such as mint and menthol, fruit and candy, chocolate, original tobacco, etc. are mainly consumed. E-liquid products are sold as vape pods, vape pens, and vape mods. The growing practice of smoking e-cigarettes or vaping is driving the growth of the e-liquid market, which is expected to grow at a CAGR of ~16% during the period of 2019-2027.
E-liquid, otherwise known as e-juice or vape-juice, is basically liquid nicotine that is added inside e-cigarettes and smoked, called vaping action.
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The use of e-cigarettes is relatively environmentally friendly, as they are smokeless. In addition, they help relieve smokers from the harmful effects of tar. Smoking e-liquid helps avoid bad odors and protects teeth, unlike traditional cigarettes which cause various health problems. The liquid that contains nicotine is also mixed with various flavors to enhance the mouthfeel and refreshing aspect of smokers. E-liquids are made by extracting nicotine from the leaves of nicotine plants and mixing them with a base substance, usually propylene glycol, and the desired flavors if necessary.
E-liquid market: ease and simplicity of handling vaping devices
E-cigarette consumers are increasingly turning to vaping pods and e-liquids over conventional atomizers or tank systems, due to the rechargeable, portable, and easy-to-use nature of vaping devices. Vaping devices are available as kits, with spare parts and refillable e-liquid pods. These aspects of vaping pods increase vaping or e-cigarette consumption, requiring more e-liquid supply. According to current consumer perception and demand, convenience is likely to have a significant impact on consumer shopping habits. The positive outlook for the e-cigarette market is creating a catalytic effect on the growth of the e-liquid market as a whole.
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E-liquid market: premiumization and attractive brand marketing accelerating product awareness
The e-liquid pods are designed as simple and compact vapes with intuitive designs to provide a more natural vaping experience. The e-liquid market, at present, is strong in developed countries such as the United States, Canada, United Kingdom and Germany, with limited and restricted market penetration in others. country. Manufacturers of e-liquids and e-cigarettes follow interesting and attractive marketing strategies to increase their customer base and the sales of their products. Online merchants of e-liquid products provide discount options to consumers to increase sales of their products and also build brand awareness. These e-liquid products are marketed as premium products, and given the increasing consumer inclination towards premium products, the e-liquid market is expected to grow in the coming years.
Global E-Liquid Market: Competitive Landscape
Some of the major players in the world The e-liquid market includes VMR Products LLC, Inc., Mig Vapor LLC, Nicopure Labs LLC, VistaVapors, Inc., Mt baker Vapor, ZampleBox, LLC., Fuggin Vapor Co., Silver Laboratories (Basix eLiqiuids), Humble Juice Co., USA Vape Labe, Savage Enterprises, LLC., M. Macaron Vapes Corporation, Smax Holdings LLC (Smax E-Liquids), BSMW Ltd., Black Note, VapeWild, VaporFi, Molecule Labs, Inc., Vapor Labs , Dynamic Creationsand others.
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