The e-liquids market will experience exceptional growth by 2019-2027
According to a new study on the e-liquids market by TMR, e-liquid sales should reach ~ 5 million liters in 2019, and records annual growth of ~16% in 2019. The growth of the e-liquids market remains driven by many aspects, which range from increasing consumer awareness of electronic cigarettes and greater convenience compared to conventional cigarettes. The different flavors available in e-liquids are also stimulating the demand of the younger generation.
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E-liquid products are available in the market in different flavors and basic types. Flavors such as mint and menthol, fruit and candy, chocolate, original tobacco, etc., are mainly consumed. E-liquid products are sold in the form of vape capsules, vape pens, and vape mods. The increasing practice of smoking e-cigarettes or vaping is driving the growth of the e-liquids market, which is expected to grow at a CAGR of ~16% during the period of 2019-2027.
E-liquid, also known as e-juice or vape-juice, is basically liquid nicotine that is added inside e-cigarettes and smoke called the vaping action. The use of electronic cigarettes is relatively environmentally friendly, as they are smoke-free. Plus, they help relieve smokers from the damaging effects of tar. Smoking an e-liquid helps to avoid bad odors and protects the teeth, unlike traditional cigarettes which cause various health problems. The liquid which contains nicotine is also mixed with various flavors to improve the mouth feel and the refreshing appearance of smokers. E-liquids are made by extracting nicotine from nicotine plant leaves and mixing them with a base substance, usually propylene glycol, and the desired flavors if needed.
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E-liquids market: ease of management and simplicity of vaping devices
Electronic cigarette consumers are increasingly turning to vaping pods and e-liquids rather than conventional atomizers or tank systems, due to the rechargeable, portable and easy-to-use nature of vaping devices. The vaping devices are available as kits, with spare parts and pods that can be refilled in e-liquid. These aspects of vape pods increase the consumption of vaping or e-cigarettes, requiring more e-liquid supply. Based on current consumer perception and demand, convenience is likely to have a significant impact on consumers’ purchasing habits. The positive outlook in the electronic cigarette market is creating a catalytic effect on the growth of the e-liquids market, as a whole.
E-liquids market: premiumization and attractive brand marketing accelerating product awareness
E-liquid pods are designed as simple and compact vapes with intuitive designs to provide a more natural vaping experience. The e-liquids market, at present, is strong in developed countries such as the United States, Canada, United Kingdom and Germany, with limited market penetration and restrained in others. country. Manufacturers of e-liquids and e-cigarettes follow interesting and compelling marketing strategies to increase their consumer base and the sales of their products. Online e-liquid merchants provide discount options to consumers to increase sales of their products and build brand awareness. These e-liquids are marketed as high-end products, and given the growing consumer inclination for high-end products, the market for e-liquids is expected to grow in the years to come.
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Global e-liquids market: competitive landscape
Some of the major players in the world The e-liquids market is 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., United States Vape Labe, Savage Enterprises, LLC., M. Macaron Vapes Corporation, Smax Holdings LLC (Smax E-Liquides), BSMW Ltd., Black Note, VapeWild, VaporFi, Molecule Labs, Inc., Vapor Labs , Dynamic Creations, and others.
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