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Report
Global E-Liquid Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 203 Pages I EMR Inc.
Global E-Liquid Market Report and Forecast 2024-2032
Market outlook
According to the report by Expert Market Research (EMR), the e-liquid market size reached a value of USD 2.01 billion in 2023. Aided by the increasing demand for vaping products and the growing applications of e-liquids in various types of electronic nicotine delivery systems (ENDS), the market is projected to further grow at a CAGR of 12.2% between 2024 and 2032 to reach a value of USD 5.68 billion by 2032.
E-liquid, also known as vape juice, is a fluid used in electronic cigarettes and vaporisers that provides the flavour and nicotine solution. It is composed of a base (typically propylene glycol (PG) and vegetable glycerine (VG)), flavourings, and optional nicotine. E-liquids are available in various nicotine strengths and flavours, including tobacco, menthol, fruit, dessert, and candy, catering to diverse consumer preferences.
The increasing consumer preference for vaping products over traditional tobacco products is driving the e-liquid market growth. With growing awareness of the health risks associated with smoking, many consumers are shifting towards vaping as a perceived safer alternative. This trend is supported by the availability of a wide range of e-liquid flavours and nicotine strengths, providing a customisable experience for users.
Additionally, the rising trend of smoking cessation has further contributed to the increasing popularity of e-liquids. Many smokers are using e-cigarettes and vaping devices as a tool to quit smoking, gradually reducing their nicotine intake by selecting lower nicotine concentrations in their e-liquids. This has led to a surge in demand for e-liquids, especially those with lower nicotine levels or nicotine-free options.
The expanding applications of e-liquids in various types of ENDS also play a significant role in propelling the e-liquid market development. In addition to e-cigarettes, e-liquids are used in pod systems, vape pens, and box mods, each catering to different segments of the vaping market. This diversification of vaping devices has increased the accessibility and appeal of e-liquids to a broader consumer base.
Further, the growing acceptance and legalisation of cannabis for both medicinal and recreational use in various regions have led to an increased focus on cannabis-infused e-liquids. These products offer a convenient and discreet method of cannabis consumption, appealing to consumers who prefer vaping over other forms of cannabis intake. The rise of the cannabis market is expected to boost the demand for e-liquid significantly, consequently driving up the e-liquid market share.
The increasing adoption of advanced technologies in e-liquid production is also driving market growth. Manufacturers are investing in research and development to create innovative e-liquid formulations with enhanced flavour profiles and improved vapor production. This has led to the development of high-quality, premium e-liquids that offer a superior vaping experience, attracting more consumers to the market.
Pre-filled e-liquids come in cartridges or pods that are ready to use, offering convenience for users who prefer a hassle-free vaping experience. Bottled e-liquids are available in various sizes, allowing users to refill their devices and customize their vaping experience by mixing different flavours and nicotine strengths.
Online platforms offer a wide variety of e-liquids, often at competitive prices, with the convenience of home delivery. Physical stores, including vape shops, convenience stores, and specialty shops, provide consumers with the opportunity to sample e-liquids and receive personalised recommendations.
A per the e-liquid market analysis, Europe is a significant market for e-liquids, with countries such as the United Kingdom, France, and Germany leading the adoption of vaping products. The region's focus on harm reduction and smoking cessation has spurred the demand for e-liquids as a safer alternative to traditional tobacco products. Additionally, the stringent regulations on e-liquid ingredients and labelling in the European Union ensure high product quality and safety, enhancing consumer confidence in e-liquids.
Market Segmentation
The market can be divided based on flavour, base type, type, distribution channel, and region
Market Breakup by Flavour
- Menthol and Mint
- Tobacco
- Dessert
- Fruits and Nuts
- Chocolate
- Others
Market Breakup by Base Type
- PG (Propylene Glycol)
- VG (Vegetable Glycerin)
- PG and VG
Market Breakup by Type
- Pre-Filled
- Bottled
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Europe
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global e-liquid market. some of the major players explored in the report by expert market research are as follows:
- Nicopure Labs
- Black Note Corporation
- Crystal Canyon Vapes LLC
- Philip Morris International Inc.
- Savage Enterprises Inc.
- e-Liquid Factory
- USA Vape Lab
- Mt Baker Vapor Ltd
- Solace Vapor
- Air Factory
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global E-Liquid Market Analysis
8.1 Key Industry Highlights
8.2 Global E-Liquid Historical Market (2018-2023)
8.3 Global E-Liquid Market Forecast (2024-2032)
8.4 Global E-Liquid Market by Flavour
8.4.1 Menthol and Mint
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Tobacco
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Dessert
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Fruits and Nuts
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Chocolate
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global E-Liquid Market by Base Type
8.5.1 PG (Propylene Glycol)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 VG (Vegetable Glycerin)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 PG and VG
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global E-Liquid Market by Type
8.6.1 Pre-Filled
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Bottled
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global E-Liquid Market by Distribution Channel
8.7.1 Online
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Offline
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global E-Liquid Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America E-Liquid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe E-Liquid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific E-Liquid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 ASEAN
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 Latin America E-Liquid Market Analysis
12.1 Chile
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Peru
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Others
13 Middle East and Africa E-Liquid Market Analysis
13.1 United Arab Emirates
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Nigeria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 South Africa
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nicopure Labs
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Black Note Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Crystal Canyon Vapes LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Philip Morris International Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Savage Enterprises Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 e-Liquid Factory
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 USA Vape Lab
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mt Baker Vapor Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Solace Vapor
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Air Factory
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global E-Liquid Market: Key Industry Highlights, 2018 and 2032
2. Global E-Liquid Historical Market: Breakup by Flavour (USD Billion), 2018-2023
3. Global E-Liquid Market Forecast: Breakup by Flavour (USD Billion), 2024-2032
4. Global E-Liquid Historical Market: Breakup by Base Type (USD Billion), 2018-2023
5. Global E-Liquid Market Forecast: Breakup by Base Type (USD Billion), 2024-2032
6. Global E-Liquid Historical Market: Breakup by Type (USD Billion), 2018-2023
7. Global E-Liquid Market Forecast: Breakup by Type (USD Billion), 2024-2032
8. Global E-Liquid Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global E-Liquid Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global E-Liquid Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global E-Liquid Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America E-Liquid Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America E-Liquid Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe E-Liquid Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe E-Liquid Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific E-Liquid Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific E-Liquid Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America E-Liquid Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America E-Liquid Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa E-Liquid Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa E-Liquid Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global E-Liquid Market Structure
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