ALBANY, New York, March 11, 2020 /PRNewswire/ -- Increasing shift in consumer preference, from original tobacco to fruit and candy flavors, has compelled stakeholders in the e-liquid market to increase focus on Genomic Allergen Rapid Detection (GARD) assays. Such first-of-its-kind initiatives are helping manufacturers assess the sensitization of potential compounds for vaping-related applications. This, along with consistent efforts to improve safety aspect of e-liquid for smokers, the e-liquid market is estimated to display a stellar CAGR of ~16% from 2019 to 2027.
"Concerns of toxicity of e-liquids to be inhaled via e-cigarettes is leading to collaborations between manufacturers and research scientists to improve safety standards," say analyst at TMR. Such concerns have led to shift in focus.
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Key Takeaways in E-liquid Market Study
- Online retails sales is estimated to garner leading revenue among all sales channels.
- E-liquid, at present, are mostly sold in developed countries such as the U.S., the U.K., and Canada.
- Pod vape devices are available as kits- comprise replacement parts and pods, which is catalyzing consumption of e-liquid.
Explore detailed research, incisive insights, and in-depth country level estimations of E-liquid Market (Base: PG &VG, Vegetable Glycerin, Propylene Glycol; Sales Channel: Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Independent Small Groceries, Online Retail; Flavor: Original Tobacco, Mint & Menthol, Fruits & Candy, Chocolate, Dessert, Other Flavors) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019- 2027 at https://www.transparencymarketresearch.com/e-liquid-market.html
E-liquid Market: Key Driving Factors and Growth Avenues
Several factors supporting the demand for e-liquids as deduced from the report are enumerated below:
- Rising practice of eco-friendly vaping benefits the environment in more than one ways. Firstly, it reduces repercussions of deforestation to the environment due to cultivation of tobacco.
- Growing trend of e-cigarettes and vaping is serving to reduce environmental footprint. This is because it eliminates the load of disposing vast volumes of burnt cigarette butts from the environment.
- Rising trend of eco-friendly vaping is translating into demand for e-liquids, thereby providing host of opportunities for manufacturers in the e-liquid market.
- Sustainable disposal of e-liquid, in the form of re-gifting to friends or family calls is a plus for demand for e-liquid.
- Lastly, vaping and e-cigarettes have inadvertently led to partial or complete quitting of smoking. Also, it benefits smokers with considerably reduced amount of intake of tar and nicotine.
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E-liquid Market: Regional Overview and Future Growth Outlook
At present, the demand for e-liquid mostly remains concentrated in developed countries such as the U.K., the U.S., and Canada. Meanwhile, sales of e-liquid and market penetration of manufacturers of e-liquid remains limited and restricted in other countries. Nonetheless, manufacturers of e-cigarettes and e-liquid are adopting attractive marketing strategies to foray into other countries and establish a consumer base.
E-liquid Market: Key Challenges
- Debates of 100% safety of e-liquid for smokers limits their use. Contact of e-liquid bottle with other ingredients makes for unknown constituents of e-liquid for consumers.
- Harmful effects of artificial flavors blended with propylene glycol found in vape juices are questions from consumers that manufacturers of e-liquid are subject to.
Analyze E-Liquid Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
E-liquid Market Competition Landscape
The presence of a considerable number of participants renders a fragmented and competitive vendor landscape to the e-liquid market. In this scenario, savvy players, mostly online traders, are offering discount options and marketing their products as premium products to create brand name in consumers' minds.
Some of the prominent players in the e-liquid market are VMR Products LLC, Inc., Nicopure Labs LLC, ZampleBox, LLC, Silver Laboratories, USA Vape Labe, Smax Holdings LLC, and Dynamic Creations among others.
The E-liquid market is segmented as follows;
E-Liquid Market by Base Type
- PG & VG
- Propylene Glycol
- Vegetable Glycerin
E-Liquid Market by Flavor
- Mint & Menthol
- Original Tobacco
- Fruits & Candy
- Other Flavors
E-Liquid Market by Sales Channel
- Convenience Stores
- Independent Small Groceries
- Online Retail
- Specialty Stores
E-Liquid Market by Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Eastern Europe
- Rest of Europe
- Asia Pacific Excluding Japan
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific Excluding Japan
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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