According to a new report published by UnivDatos Markets Insights, the E-liquid Market was valued at USD 1.5 bn in 2022 and is expected to grow at a CAGR of around 15% from 2023-2030. The analysis has been segmented into Type (Bottled, Pre-Filled); Flavors (Menthol and Mint, Tobacco, Dessert, Fruits and Nuts, Chocolate, Others); Distribution Channel (Online, Retail Stores); Region/Country.
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The E-liquid market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the E-liquid market. The E-liquid market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the E-liquid market at the global and regional levels.
Market Overview
The global E-liquid can be attributed to the increased utilization of e-liquids in Electronic Nicotine Delivery Systems (ENDS), which are considered a safer alternative of tobacco-based cigarettes, which is primarily driving the global e-liquid market. E-liquid is displacing traditional methods of smoking by providing vaping and e-cigarettes. Growing health concerns among the geriatric population are other factors driving the market growth. E-liquids are the fluids mainly used as fuel in E-cigarettes The growing demand for E-liquids can be attributed to the rising demand for better alternatives to smoking. For instance, the British American Tobacco Company launched new products for vaping, with the incorporation of the new Puretech blade technology. The products unveiled were Vype iSwitch and Vype iSwicth Maxx. The technology is upgraded with the use of ulta-slim stainless-steel blades for the heating of e-liquid, instead of a coil and wick, enhancing overall functionality. Also, the shift towards a healthy lifestyle increases the demand for E-liquid and is anticipated to grow in the forthcoming years mainly. Furthermore, the e-liquids are made from vegetable glycerin and are chemicals free such as acetyl propionyl, ethylene glycol, diethylene glycol, diacetyl, and acrolein or acetoin, which are present in traditional cigarettes and cause several health-related issues However, some of the restraints in the market including the stringent regulations regarding usage of E-Liquids are impeding the growth of this market all over the world.
Some of the major players operating in the market Black Note Vape, Inc., Breazy, Mig Vapor LLC, Crystal Canyon Vapes LLC, Philip Morris International Inc., Turning Point Brands, Inc., Vape Dudes, VaporFi Inc., VMR Products LLC, Molecule Labs, Inc.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The pandemic had negatively impacted the global e-liquid market as the numerous assembly/manufacturing plants and end-use industries for e-liquid were temporarily closed due to emergency lockdown. Also, internal and cross border transporting services were hampered as logistics providers are no longer transporting goods. However, after the ease of lockdown restrictions, the market has witnessed accelerated growth due to the reopening of convenience stores and supermarkets globally.
The global E-liquid market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the type, the E-liquid market is segmented into bottled and pre-filled. The bottled segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Bottled e-liquids allow consumers to refill their vape tanks quickly and simply. Additionally, bottled e-liquid can be stored securely and safely for a longer time and be used for creating DIY e-juices. These factors are likely to help the segment achieve a promising growth rate over the forecast period.
· Based on the flavors, the market is fragmented into Menthol and Mint, Tobacco, Dessert, Fruits and Nuts, Chocolate, and Others. The tobacco segment grabbed a considerable market share during the forecast period. Tobacco-flavored e-liquid is highly demanded among smokers as it provides the experience of smoking real tobacco. It gives a cleaner smell Fruits with aroma have an extremely soft flavor and a fruity aroma.
· Based on the distribution channel, the E-liquid market is divided into a retail store and online. The retail store segment accounted for a significant market share during the projected timeframe. The retail store is further divided into newsstands, convenience stores, tobacconists, drug stores, and specialty. The retail sector allowed consumers to test e-cigarettes and e-liquids before purchasing the products. Also, the availability of different types of products under one roof. These factors are likely to help the segment achieve a promising growth rate over the forecast period.
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Explore the Comprehensive Research Overview - https://univdatos.com/report/e-liquid-market
E-liquid Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
North America held an extensive share of the E-liquid market owing to advancements in technology and their implementation in e-cigarettes. For instance, according to U.S Food and Drug Administration (FDA), more than 1 million young people in the United States used a vaping device on a daily basis, and more than 1.6 million citizens used it more than 20 times a month.
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