E-Liquid Market by Base Type (Propylene glycol and Vegetable glycerine), By Product (Pre-filled, E-liquid and Bottled E-liquid), By Flavour (Mint & Menthol, Tobacco, Dessert, Fruits & Nuts, Chocolate, and Others), By Distribution Channel (Online, Online Resellers, Online Websites, and Retail), and By Region - Industry Analysis & Forecast to 2033
The global e-liquid market was valued at USD 8 billion in 2023 and is anticipated to reach USD 29.2 billion by 2033 at a CAGR of 13.82%.
E-Liquid Market CAGR
2023-2033
CAGR OF
13.82%
E-Liquid Market
E-liquid is known as e-juice or vape juice is the liquid that is converted into vapor by an e-cigarette device. E-liquids are composed of propylene glycol, vegetable glycerine, nicotine, and flavoring agents. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the overall market. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and the forecast period is 2023-2033.
E-liquid Market: Market Dynamics
The market is expected to witness an impressive growth for the next coming years, with the increasing trend of e-cigarettes coupled with vaping which has contributed to less environmental footprint compared to cigarette buds, across the globe. Vaping has delivered more advantages as it helps smokers for the lesser intake of tar and nicotine. Furthermore, in the era of digitalization, social media influencers about vaping also further fuel the growth of the market. However, the chemical in the e-cigarette is still unknown to many consumers, which can act as a hindrance to the market growth. Although, to overcome these hurdles, manufacturers in the e-liquid market are selling vape juice after seeking premarket authorization from the Food and Drug Administration (FDA).
E-liquid Market: Segmental Analysis
E-Liquid Market
By Base Type
Propylene glycol
Vegetable glycerine
The Market will Grow
At the CAGR of:
13.82%
The Forecast Market
Size for 2033 in USD:
$29.2B
The global E-liquid market can be segmented into base type, product, flavor, distribution channel, and region. Based on base type, the market is segmented into Propylene glycol and Vegetable Glycerine. Based on the flavor, the market is further classified into mint & menthol, tobacco, desserts, chocolate, and fruits & nuts. Among them, the fruits & nuts segment is expected to witness the maximum growth rate during the forecast period.
E-Liquid Market
By Product
XX%
Pre-filled
E-liquid and Bottled E-liquid
8
Total Market Size
USD (Billion), 2023
13.82%
CAGR
2023 - 2033
Based on the distribution channel, the market is segmented into online distributors, online resellers, and retailers. The online distributors segment accounted for the largest market share in 2020, which is also anticipated to drive the growth of the market during the forecast period. This is attributed to growing e-commerce industry across the globe.
E-liquid Market: Regional Analysis
E-Liquid Market
By Region
The Market will Grow
At the CAGR of:
13.82%
The Forecast Market
Size for 2033 in USD:
$29.2B
Geographically, the healthcare fraud analytics market is classified into Europe, North America, Asia-Pacific, South America, and the Middle East & Africa. North America region accounted for the largest market share in 2022, which is expected to show significant growth during the forecast period. This is attributed to the growing popularity of the e-liquid and vape devices and also the presence of leading manufacturers in the region.
E-liquid Market: Competition Scenario
The key market players are Dynamic Creations, Mig Vapor LLC, VaporFi, Inc., VMR Products LLC, Black Note, VistaVapors, Inc., and ZampleBox LLC. Nicopure Labs LLC., Silver Laboratories (Basix eLiqiuids), Humble Juice Co., Fuggin Vapor Co., Savage Enterprises, LLC., USA Vape Labe, Molecule Labs, Inc., Mt baker Vapor, VapeWild, Vapor Labs, Mr. Macaron Vapes Corporation, Smax Holdings LLC (Smax E-Liquids), and BSMW Ltd.
Critical Questions Answered in the report
• What are the key trends in the market? • How the market (and its various sub segments) has grown in the last four years and what would be the growth rate in the next five years? • What are the key strategies adopted by the major vendors to lead the market? • What is the market share of the top players?
Research Methodology
The study extensively uses both secondary and primary research methodologies. More than 100 to 200 industry experts from different phases of the value chain (supply side, demand side, resellers/distributors, and independent consultants) were interviewed to gain key insights about the market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, white papers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes algorithms to make projections for the forecast period.
E-Liquid Market Scope:
Report Data
E-Liquid Market
E-Liquid Market Forecast Value 2033
29.2Billion
E-Liquid Market CAGR 2023 - 2033
13.82%
E-Liquid Market Forecast Period
2023 - 2033
E-Liquid Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
Dynamic Creations, Mig Vapor LLC, VaporFi, Inc., VMR Products LLC, Black Note, VistaVapors, Inc., and ZampleBox LLC. Nicopure Labs LLC., Silver Laboratories (Basix eLiqiuids), Humble Juice Co., Fuggin Vapor Co., Savage Enterprises, LLC., USA Vape Labe, Molecule Labs, Inc., Mt baker Vapor, VapeWild, Vapor Labs, Mr. Macaron Vapes Corporation, Smax Holdings LLC (Smax E-Liquids), and BSMW Ltd..
Key Segments
By Base Type
Propylene glycol
Vegetable glycerine
By Product
Pre-filled
E-liquid and Bottled E-liquid
By Flavour
Mint & Menthol
Tobacco
Dessert
Fruits & Nuts
Chocolate
Others
By Distribution Channel
Online
Online Resellers
Online Websites
Retail
By Region
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
1 Executive Summary
2 Market Introduction 2.1 Definition 2.2 Architecture 2.3 Scope of the Study 2.4 Related Stakeholders
3 Research Methodology 3.1 Introduction 3.2 Primary Research 3.2.1 Key Insights 3.2.2 Breakdown of Primary Interviews 3.3 Secondary Research 3.3.1 Important Sources 3.4 Market Size Estimation Approaches 3.4.1 Top-Down Approach 3.4.2 Bottom-Up Approach 3.4.3 Data Triangulation 3.5 List of Assumptions
4 Market Dynamics 4.1 Introduction 4.2 Drivers 4.2.1 Growing Trend of E-Liquid amongst Youth Population 4.2.2 Availability of Various Flavour 4.2.3 Increasing Social Media Influence
4.3 Restraints 4.3.1 Stringent Regulations 4.3.2 Adverse effects and toxicity caused by e-liquid 4.4 Opportunities 4.4.1 Online retail industry 4.5 Porter's Five Forces Model Analysis 4.6 Value Chain Analysis 4.7 Regulatory Landscape
5 Global E-Liquid Market, By Base Type 5.1 Introduction 5.2 Propylene glycol(PG) 5.3 Vegetable Gycerin 5.4 PG &VG
6 Global E-Liquid Market, By Flavour 6.1 Introduction 6.2 Mint & Menthol 6.3 Tobacco 6.4 Desserts 6.5 Chocolate 6.6 Fruits & Nuts 6.7 Others
7 Global E-Liquid Market, By Product 7.1 Introduction 7.2 Pre-filled e-liquid 7.3 Bottled e-liquid
8 Global E-Liquid Market, By Distribution Channel 8.1 Introduction 8.2 Online Distributers 8.3 Online Resellers 8.4 Retailers
9 Global E-Liquid Market, By Region 9.1 Introduction 9.2 North America 9.2.1 US 9.2.2 Canada 9.2.3 Mexico 9.3 Europe 9.3.1 Germany 9.3.2 UK 9.3.3 Rest of Europe 9.4 Asia-Pacific 9.4.1 China 9.4.2 India 9.4.3 Japan 9.4.4 Rest of Asia-Pacific 9.5 Middle East and Africa 9.6 South America
10 Competitive Landscape 10.1 Introduction 10.2 Vendor Evaluation Criteria 10.3 Vendor Share Analysis, 2023 (%) 10.4 Recent Developments, 2019-2023 10.4.1 New Product Launches 10.4.2 Partnerships 10.4.3 Mergers or Acquisitions 10.4.4 Business Expansions 11 Company Profiles (This section covers the Business Overview, Financial Overview, Product Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.) 11.1 VMR Products LLC 11.2 Mig Vapor LLC 11.3 VaporFi, Inc. 11.4 Black Note 11.5 Nicopure Labs LLC 11.6 VistaVapors, Inc. 11.7 ZampleBox, LLC. 11.8 Fuggin Vapor Co. 11.9 Silver Laboratories (Basix eLiqiuids) 11.10 Humble Juice Co. 11.11 USA Vape Labe 11.12 Savage Enterprises, LLC. 11.13 Mr. Macaron Vapes Corporation 11.14 Mt baker Vapor 11.15 Smax Holdings LLC (Smax E-Liquids) 11.16 BSMW Ltd. 11.17 VapeWild 11.18 Molecule Labs, Inc. 11.19 Vapor Labs 11.20 Dynamic Creations.
Table 1 Global E-Liquid Market, By Base Type, 2023-2033 (USD Million) Table 2 Global E-Liquid Market, By Flavour, 2023-2033 (USD Million) Table 3 Global E-Liquid Market, By Product, 2023-2033 (USD Million) Table 4 Global E-Liquid Market, By Distribution channel, 2023-2033 (USD Million) Table 5 Global E-Liquid Market, By Region, 2023-2033 (USD Million) Table 6 North America E-Liquid Market, By Country, 2023-2033 (USD Million) Table 7 North America E-Liquid, By Base Type, 2023-2033 (USD Million) Table 8 North America E-Liquid, By Flavour, 2023-2033 (USD Million) Table 9 North America E-Liquid, By Product, 2023-2033 (USD Million) Table 10 North America E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 11 US E-Liquid, By Base Type, 2023-2033 (USD Million) Table 12 US E-Liquid, By Flavour, 2023-2033 (USD Million) Table 13 US E-Liquid, By Product, 2023-2033 (USD Million) Table 14 US E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 15 Canada E-Liquid, By Base Type, 2023-2033 (USD Million) Table 16 Canada E-Liquid, By Flavour, 2023-2033 (USD Million) Table 17 Canada E-Liquid, By Product, 2023-2033 (USD Million) Table 18 Canada E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 19 Europe E-Liquid, By Country, 2023-2033 (USD Million) Table 20 Europe E-Liquid, By Base Type, 2023-2033 (USD Million) Table 21 Europe E-Liquid, By Flavour, 2023-2033 (USD Million) Table 22 Europe E-Liquid, By Product, 2023-2033 (USD Million) Table 23 Europe E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 24 Germany E-Liquid, By Base Type, 2023-2033 (USD Million) Table 25 Germany E-Liquid, By Flavour, 2023-2033 (USD Million) Table 26 Germany E-Liquid, By Product, 2023-2033 (USD Million) Table 27 Germany E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 28 UK E-Liquid, By Base Type, 2023-2033 (USD Million) Table 29 UK E-Liquid, By Flavour, 2023-2033 (USD Million) Table 30 UK E-Liquid, By Product, 2023-2033 (USD Million) Table 31 UK E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 32 France E-Liquid, By Base Type, 2023-2033 (USD Million) Table 33 France E-Liquid, By Flavour, 2023-2033 (USD Million) Table 34 France E-Liquid, By Product, 2023-2033 (USD Million) Table 35 France E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 36 Rest of Europe E-Liquid, By Base Type, 2023-2033 (USD Million) Table 37 Rest of Europe E-Liquid, By Flavour, 2023-2033 (USD Million) Table 38 Rest of Europe E-Liquid, By Product, 2023-2033 (USD Million) Table 39 Rest of Europe E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 40 Asia-Pacific E-Liquid, By Country, 2023-2033 (USD Million) Table 41 Asia-Pacific E-Liquid, By Base Type, 2023-2033 (USD Million) Table 42 Asia-Pacific E-Liquid, By Flavour, 2023-2033 (USD Million) Table 43 Asia-Pacific E-Liquid, By Product, 2023-2033 (USD Million) Table 44 Asia-Pacific E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 45 China E-Liquid, By Base Type, 2023-2033 (USD Million) Table 46 China E-Liquid, By Flavour, 2023-2033 (USD Million) Table 47 China E-Liquid, By Product, 2023-2033 (USD Million) Table 48 China E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 49 India E-Liquid, By Base Type, 2023-2033 (USD Million) Table 50 India E-Liquid, By Flavour, 2023-2033 (USD Million) Table 51 India E-Liquid, By Product, 2023-2033 (USD Million) Table 52 India E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 53 Japan E-Liquid, By Base Type, 2023-2033 (USD Million) Table 54 Japan E-Liquid, By Flavour, 2023-2033 (USD Million) Table 55 Japan E-Liquid, By Product, 2023-2033 (USD Million) Table 56 Japan E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 57 Rest of Asia-Pacific E-Liquid, By Base Type, 2023-2033 (USD Million) Table 58 Rest of Asia-Pacific E-Liquid, By Flavour, 2023-2033 (USD Million) Table 59 Rest of Asia-Pacific E-Liquid, By Product, 2023-2033 (USD Million) Table 60 Middle East and Africa E-Liquid, By Country, 2023-2033 (USD Million) Table 61 Middle East and Africa E-Liquid, By Base Type, 2023-2033 (USD Million) Table 62 Middle East and Africa E-Liquid, By Flavour, 2023-2033 (USD Million) Table 63 Middle East and Africa E-Liquid, By Product, 2023-2033 (USD Million) Table 64 Middle East and Africa E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 65 South America E-Liquid, By Country, 2023-2033 (USD Million) Table 66 South America E-Liquid, By Base Type, 2023-2033 (USD Million) Table 67 South America E-Liquid, By Flavour, 2023-2033 (USD Million) Table 68 South America E-Liquid, By Product, 2023-2033 (USD Million) Table 69 South America E-Liquid, By Distribution channel, 2023-2033 (USD Million) Table 70 Brazil E-Liquid, By Base Type, 2023-2033 (USD Million) Table 71 Brazil E-Liquid, By Flavour, 2023-2033 (USD Million) Table 72 Brazil E-Liquid, By Product, 2023-2033 (USD Million) Table 73 Brazil E-Liquid, By Distribution channel, 2023-2033 (USD Million)
List of Figures
Figure 1 Global E-Liquid Market: Market Segmentation Figure 2 Global E-Liquid Market: Research Methodology Figure 3 Breakdown of Primary Interviews Figure 4 Top Down Approach Figure 5 Bottom Up Approach Figure 6 Data Triangulation Figure 7 Global E-Liquid Market: Drivers, Restraints, Opportunities, and Challenges Figure 8 Global E-Liquid Market: Porter's Five Forces Model Analysis Figure 9 Global E-Liquid Market: Value Chain Analysis Figure 10 Global E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 11 Global E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 12 Global E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 13 Global E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 14 North America E-Liquid Market Share Analysis, By Country, 2023 and 2033 Figure 15 North America E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 16 North America E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 17 North America E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 18 North America E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 19 Europe E-Liquid Market Share Analysis, By Country, 2023 and 2033 Figure 20 Europe E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 21 Europe E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 22 Europe E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 23 Europe E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 24 Asia-Pacific E-Liquid Market Share Analysis, By Country, 2023 and 2033 Figure 25 Asia-Pacific E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 26 Asia-Pacific E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 27 Asia-Pacific E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 28 Asia-Pacific E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 29 Middle East and Africa E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 30 Middle East and Africa E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 31 Middle East and Africa E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 32 Middle East and Africa E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 33 South America E-Liquid Market Share Analysis, By Base Type, 2023 and 2033 Figure 34 South America E-Liquid Market Share Analysis, By Flavour, 2023 and 2033 Figure 35 South America E-Liquid Market Share Analysis, By Product, 2023 and 2033 Figure 36 South America E-Liquid Market Share Analysis, By Distribution channel, 2023 and 2033 Figure 37 Global E-Liquid Market: Competitive Benchmarking Figure 38 Global E-Liquid Market: Vendor Share Analysis
E-Liquid Market Scope:
Report Data
E-Liquid Market
E-Liquid Market Forecast Value 2033
29.2Billion
E-Liquid Market CAGR 2023 - 2033
13.82%
E-Liquid Market Forecast Period
2023 - 2033
E-Liquid Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
Dynamic Creations, Mig Vapor LLC, VaporFi, Inc., VMR Products LLC, Black Note, VistaVapors, Inc., and ZampleBox LLC. Nicopure Labs LLC., Silver Laboratories (Basix eLiqiuids), Humble Juice Co., Fuggin Vapor Co., Savage Enterprises, LLC., USA Vape Labe, Molecule Labs, Inc., Mt baker Vapor, VapeWild, Vapor Labs, Mr. Macaron Vapes Corporation, Smax Holdings LLC (Smax E-Liquids), and BSMW Ltd..
Key Segments
By Base Type
Propylene glycol
Vegetable glycerine
By Product
Pre-filled
E-liquid and Bottled E-liquid
By Flavour
Mint & Menthol
Tobacco
Dessert
Fruits & Nuts
Chocolate
Others
By Distribution Channel
Online
Online Resellers
Online Websites
Retail
By Region
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
The Research Intellica follows an extensive research methodology that involves a blend of both primary and secondary research. Information assembly and understanding the definition of the market are one of the critical points in our research process.
Key steps required in our research process:
Information Assembling: Under this stage, market data or information is collected by going through all the various methodologies, such as paid databases, TRI’s internal databases, primary research, and secondary research.
Secondary Sources: Some of the prominent examples include annual reports, press releases & investor presentations of companies, white papers, government statistics companies such as WHO, NGOs, the World Bank, and many others, regulatory bodies, trade directories.
Primary Sources: The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies. The primary sources from the supply side include associations and institutions involved in the particular industry, key opinion leaders, and processing players.
Data Analysis: Our data is the Intellica of our research, and to stand out in the market, we analyse the data with statistical tools such as regression analysis and factor analysis. Our data analytics model aids in market forecasting. Common parameters are as follows:
Macro-economic factors
Demographics
Technology & innovation
Regional Patterns
Value Chain/ Supply Chain
Market dynamics
Industry Trends
Market Estimation: Both, bottom-up and top-down approaches were used to estimate and validate the size of the global market. The key players in the industry and markets were identified through extensive secondary research. The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as directors and marketing executives.
Bottom-Up Approach:
Top-down Approach:
Market Breakdown & Data Triangulation:
In order to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments, the data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides. Along with this, the market size was validated by using both, the top-down and bottom-up approaches.
Market Stakeholders:
Raw Material Suppliers
Manufacturers
System Integrators
Distributors
End-users
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