E-Liquid Market Size Worth $3+ Billion, Globally, by 2028 at 11+% CAGR | The Insight Partners

NEW YORK, Oct. 21, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "E-Liquid Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Flavor, Base Type, Distribution Channel, and Geography", the global e-liquid market size is expected to grow from USD 1.4 billion in 2021 to USD 3.1 billion by 2028 at a CAGR of 11.25% between 2022 and 2028.

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Global E-Liquid Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 150 pages with list of tables & list of figures from the report, "E-Liquid Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Flavor [Tobacco, Fruits, Mint and Others], Base Type [Propylene Glycol, Vegetable Glycerin, and Blended], Distribution Channel [Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others], and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/e-liquid-market

Black Note, Inc.; eLiquitech, a Tobacco Technology, Inc.; Pure Labs; ZampleBox LLC.; and USA Vape Lab are among the key global e-liquid market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the global e-liquid market and its ecosystem.

Vaping devices containing e-liquids enhance an individual's tobacco consumption experience. E-liquid products are available in various flavors such as mint, fruits, and chocolates. Water, nicotine, flavoring agent, and propylene glycol or vegetable glycerin are a few major ingredients used in the formulations of e-liquid products. Growing awareness regarding the availability of a variety of alternative products to cigarette smoking and increasing consumers preference for e-liquids with a low level of toxicants drive the global e-liquid market growth. In addition, rising consumer demand for technologically advanced e-cigarette products with innovative formulation-based e-liquids is likely to accelerate the product demand during the forecast period.

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E-liquid bases are composed of propylene glycol, vegetable glycerin, or a blended version of propylene glycol and vegetable glycerin ingredients. Users can instantly inhale fumes by using e-cigarette containing propylene glycol-based e-liquids. In addition, propylene glycol-based e-liquids help users in gaining a deep smoking sensation. These aspects are primarily responsible for the significant consumer demand for the e-cigarettes containing propylene glycol globally. However, incidence of allergic reactions to the users' skin due to propylene glycol-based e-cigarettes limits the product demand worldwide. Vegetable glycerin or blended version-based e-liquids are gaining popularity as consumers are increasingly switching their vaping preferences toward vegetable glycerin-based e-liquids. In addition, rising focus of manufacturers on developing innovative formulation-based blended e-liquids is expected to accelerate the global e-liquid market growth in the coming years.  

E-liquids are available in different product types such as bottled, prefilled, and disposable. Key companies involved in the global e-liquid market, such as eLiquitech and Pure Labs, witnessed significant consumer demand for the bottled e-liquids over the recent years, as users can quickly and instantly refill their vape tanks by such products. In addition, increasing trend of using do-it-yourself (DIY) bottled vape juices is expected to accelerate the global e-liquid market growth during 2022–2028. Consumer demand for disposable and prefilled e-liquids is mainly driven by the cost-effectiveness of such products over other product types.

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Rising adoption of the vegetable glycerin-based e-liquid and e-cigarette products to quit tobacco consumption habit is likely to favor the global e-liquid market growth over the forthcoming years. However, closure of tobacco shops and supermarkets due to the COVID-19 outbreak-related lockdown posed challenges to the key players operating in the global e-liquid market. After the ease of lockdown restrictions, the market has witnessed accelerated growth due to the reopening of the convenience stores and supermarkets globally.

From the regional perspective, North America dominated the e-liquid market with ~41% market share in 2021. The global market growth in the region is majorly attributed to the significant demand for e-cigarettes and e-liquid products across the US and Canada. In addition, presence of key players, such as USA Vape Labs and ZampleBox LLC., in the US and Canada results in significant revenue generation from such products in North America.

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