The global e-liquid market size is expected to reach USD 3.3 billion by 2027, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.4% from 2021 to 2027. The advent of e-cigarette products such as squonk mods and pod systems has increased its popularity and adoption in recent years. The rising demand for these products globally is expected to drive the market over the forecast period. In addition, the general presumption that these products can reduce the risk of lung disorders is fueling the market. Moreover, the absence of the tobacco burning process that is often found in conventional smoking products is expected to drive the market in the near future.
The
growing adoption of e-cigarettes among youngsters is escalating the market
value of e-liquid. Owing to the absence of tobacco and the
availability of various flavors, such as chocolate, menthol, blueberry,
and a range of fruit flavors, the appeal, and acceptability of these products
is expected to increase among non-smokers as well. The growing demand for e-cigarettes
and vapes in the market can also be attributed to their minimal
environmental footprint compared to traditional cigarette buds. As e-liquids
are used in e-cigarettes and vaporizers, the producers are capitalizing on the
trend of eco-friendly vaping, which is capturing consumer attention.
Market
players are focusing on mergers and acquisitions, collaborations, and
partnerships in order to expand their distribution networks and build an
international presence for their brands. For instance, in January 2018,
Nicopure, a manufacturer of e-cigarette and e-liquid, announced a partnership
with Vapоr Ltd., a distributor of e-cigarette and e-liquid in Bulgaria.
Nicopure appointed Vapоr Ltd. as one of its distributors in Bulgaria. The
partnership allowed the former to expand its brand presence in Bulgaria.
Key
players are increasingly investing in the marketing and distribution of their
products owing to rising competition in the market. For instance, in July 2019,
Turning Point Brands, Inc., a manufacturer, and distributor of consumer
products, invested USD 3.0 million in the Canadian distribution firm ReCreation
Marketing. Through the ReCreation Marketing platform, the company launched
RipTide, an e-liquid vape technology, and a variety of Nu-X products in Canada.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/e-liquid-market
E-liquid Market
Report Highlights
- In terms of
flavor, the menthol segment is anticipated to register the highest growth
rate over the forecast period owing to increasing adoption among young
people, especially in students, coupled with its availability at
affordable prices
- In terms of
type, the bottled segment is expected to register growth at a significant
pace from 2021 to 2027. This can be attributed to the fact that bottles
allow users to make their own e-juice by adding two or more e-liquids
- In terms of
distribution channel, the online segment is anticipated to register a
significant growth rate over the forecast period as it provides customers
with a wide variety of e-liquids that customers can choose from
- In terms of
region, Europe is anticipated to register notable market growth from 2021
to 2027. This can be attributed to rising awareness among individuals
about the tobacco-free formulation of e-liquids
Request a Sample Copy @ https://www.grandviewresearch.com/industry-analysis/e-liquid-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment