E-Liquid Market Size to Surge at 13.4% CAGR Is Expected to Reach $3.3 Billion in 2027 | Grand View Research, Inc

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According to a new report published by Grand View Research, The rising adoption of safer alternatives to smoking across the globe is anticipated to drive the demand for e-cigarettes over the forecast period. Furthermore, the availability of e-liquids in various flavors such as tobacco, menthol, chocolate, and fruit & nuts is further anticipated to encourage the usage of e-liquids.

The global e-liquid market size is expected to reach USD 3.3 billion by 2027, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.4% from 2021 to 2027. The advent of e-cigarette products such as squonk mods and pod systems has increased its popularity and adoption in recent years. The rising demand for these products globally is expected to drive the market over the forecast period. In addition, the general presumption that these products can reduce the risk of lung disorders is fueling the market. Moreover, the absence of the tobacco burning process that is often found in conventional smoking products is expected to drive the market in the near future.

The growing adoption of e-cigarettes among youngsters is escalating the market value of e-liquid. Owing 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 expected to increase among non-smokers as well. The growing demand for e-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, the producers are capitalizing on the trend of eco-friendly vaping, which is capturing consumer attention.

Market players are focusing on mergers and acquisitions, collaborations, and partnerships in order to expand their distribution networks and build an international presence for their brands. For instance, in January 2018, Nicopure, a manufacturer of e-cigarette and e-liquid, announced a partnership with Vapоr Ltd., a distributor of e-cigarette and e-liquid in Bulgaria. Nicopure appointed Vapоr Ltd. as one of its distributors in Bulgaria. The partnership allowed the former to expand its brand presence in Bulgaria.

Key players are increasingly investing in the marketing and distribution of their products owing to rising competition in the market. For instance, in July 2019, Turning Point Brands, Inc., a manufacturer, and distributor of consumer products, invested USD 3.0 million in the Canadian distribution firm 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.

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E-liquid Market Report Highlights

In terms of flavor, the menthol segment is anticipated to register the highest growth rate over the forecast period owing to increasing adoption among young people, especially in students, coupled with its availability at affordable prices
In terms of type, the bottled segment is expected to register growth at a significant pace from 2021 to 2027. This can be attributed to the fact that bottles allow users to make their own e-juice by adding two or more e-liquids
In terms of distribution channel, the online segment is anticipated to register a significant growth rate over 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 anticipated to register notable market growth from 2021 to 2027. This can be attributed to rising awareness among individuals about the tobacco-free formulation of e-liquids

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E-liquid Market Segmentation

Grand View Research has segmented the global e-liquid market based on flavor, type, distribution channel, and region:

E-liquid Flavor Outlook (Revenue, USD Million, 2016 – 2027)

Menthol
Tobacco
Dessert
Fruits & Nuts 
Chocolate
Others

E-liquid Type Outlook (Revenue, USD Million, 2016 – 2027)

Pre-Filled
Bottled

E-liquid Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

Online
Retail Store
Convenience Store
Drug Stores
Newsstands
Tobacconist
Specialty Stores

E-liquid Regional Outlook (Revenue, USD Million, 2016 – 2027)

North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
Japan
Australia
Latin America
Brazil
Middle East & Africa

List of Key Players of the E-liquid Market

Black Note, Inc.
Breazy
BSMW Ltd.
Crystal Canyon Vapes LLC
eLiquid Factory
Mig Vapor LLC
Molecule Labs, Inc.
Nicopure Labs LLC
Philip Morris International Inc.
Turning Point Brands, Inc.
VMR Products LLC

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