Add 2 More Reports For 20% off

Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global E-Liquid Market Outlook

The global e-liquid market size reached approximately USD 2.01 billion in 2023. The market is assessed to grow at a CAGR of 12.2% between 2024 and 2032 to attain a value of around USD 5.68 billion by 2032.

Key Trends in the Market

E-liquid, variously known as vape juice or e-juice, refers to a substance that is heated to produce vapour in e-cigarettes. It is typically made from nicotine, water, vegetable glycerin or propylene glycol base, and different flavourings. Lately, various flavours of e-liquids are also available in nicotine-free options to appeal to non-smokers.

  • One of the key e-liquid market trends is the rising popularity of vaping, especially among teenagers. Vaping products are easily available, cheap, compact, and flavoured, marketed as appealing to the youth, and are considered to be less harmful than other tobacco forms.
  • Moreover, the introduction of stringent regulations by governments aimed at eradicating the consumption of traditional tobacco products is driving the popularity of vaping as a measure to reduce cigarette use.
  • With increasing flavour bans to reduce the appeal of vaping among adolescents, the development of vape juices that are made from naturally extracted tobacco and do not contain sweeteners, artificial flavours, additives, or colours is favouring the e-liquid market demand. Such products are also packaged responsibly, targeting adult vapers, to provide an alternative to combustible tobacco and reduce their appeal among the young population.
  • Increasing innovations aimed at lowering the harmful impacts of vape juices while enhancing their safety are significantly driving the e-liquid market growth. This is driving the development of water-based vaping that can enhance the smoking experience of users, provide cleaner flavours and improved chemical stability during the vaping process, and reduce dehydration.

Market Analysis

Based on flavour, the market is segmented into methanol and mint, tobacco, desserts, fruits and nuts, and chocolate, among others. On the basis of base type, the e-liquid market segmentation includes PG (propylene glycol), VG (vegetable glycerin), and PG and VG.

By type, the market is bifurcated into pre-filled and bottled. On the basis of distribution channel, the market categorisation includes online and offline. The major regional markets for e-liquid include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global e-liquid market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

  • 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

Market Share by Flavour

Tobacco accounts for a substantial portion of the e-liquid market share. Tobacco-flavoured e-liquid is popular among individuals seeking to quit smoking as it offers the experience of smoking combustible tobacco products. Meanwhile, fruit-flavoured e-liquids are increasingly gaining popularity among beginners as they are perceived as being less harmful than tobacco-flavoured e-liquids and are available in diverse flavours.

In the forecast period, desserts and chocolate-flavoured e-liquids, such as ice cream, fruit tarts, vanilla, and cinnamon, among others, are expected to enjoy significant popularity due to the rising demand for bold, innovative, and delectable flavours, especially among the young population.

Market Share by Region

As per the e-liquid market analysis, the demand for e-liquid in North America is significantly rising. E-cigarettes and vaping products are less harmful and contain fewer toxic chemicals than conventional tobacco, driving its popularity in the region. The presence of key players in countries like the United States, coupled with the development of innovative flavours, is anticipated to further propel the market growth in the coming years.

Meanwhile, the usage of e-cigarettes among smokers to quit combustible cigarettes is expected to aid the market growth in Europe. Besides, the increasing launch of safe and innovative flavoured e-cigarettes in the region is likely to favour the overall e-liquid market expansion in the forecast period.

Competitive Landscape

Philip Morris International Inc., headquartered in Connecticut, the United States, is one of the leading tobacco manufacturers. With its history dating back to the 19th century, the company sells its products in over 180 markets. The company aims to develop smoke-free alternatives to cigarette smoking.

Savage Enterprises Inc. is a provider of cannabinoid and e-liquid solutions and products that can serve as an alternative to illegal and unsafe products. The company offers a wide range of e-liquids under its brand, Ripe collection. The company was founded in 2014 and is headquartered in California, the United States.

USA Vape Lab is a company that is engaged in manufacturing high-quality vape products. The company is recognised for its excellent customer service, brand development, and manufacturing. It is headquartered in California, the United States, and owns some of the most popular vaping brands like Naked 100 E-Liquids.

Other e-liquid market players include Nicopure Labs, Black Note Corporation, Crystal Canyon Vapes LLC, e-Liquid Factory, Mt Baker Vapor Ltd, Solace Vapor, and Air Factory, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Flavour
  • Base Type
  • Type
  • Distribution Channel
  • Region
Breakup by Flavour
  • Menthol and Mint
  • Tobacco
  • Dessert
  • Fruits and Nuts
  • Chocolate
  • Others
Breakup by Base Type
  • PG (Propylene Glycol)
  • VG (Vegetable Glycerin)
  • PG and VG
Breakup by Type
  • Pre-Filled
  • Bottled
Breakup by Distribution Channel
  • Online
  • Offline
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 2.01 billion.

The market is assessed to grow at a CAGR of 12.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 5.68 billion by 2032.

The major drivers of the market are the increasing popularity of vaping, declining combustible cigarette smoking, and the surging popularity of fruit-flavoured e-liquids.

The increasing uses of e-cigarettes as a measure to quit smoking, the development of water-based e-liquids, and flavour innovations by market players are the key trends aiding the market demand.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant distribution channels in the market are online and offline.

The major players in the market are 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, and Air Factory, among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124