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E-Liquids Market Is Projected To Expand at a Noteworthy CAGR Of 4.51% between 2018 and 2023

Radiant Insights,Inc
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According to the estimations of a research the worldwide E-liquids Market is likely to expand at a healthy CAGR of 4.51% over the forecast period (from 2018 to 2023). The global market was estimated at USD 27.76 million in 2017 and is predicted to reach at a valuation of USD 36.03 million by 2023. E-liquids or e-juice is a liquid content that fuels e-cigarettes. Unlike tobacco cigarettes, e-liquids release nicotine in the form of vapor, which makes them a safer substitute to tobacco products.

A rise in shift toward e-cigarettes or e-smoking over the traditional tobacco smoking, caused due to increased awareness about the advantages of e-liquid smoking, is the key factor driving the market growth. Increased health awareness levels among people have also affected the global market demand in a positive manner. On the other hand, fire and battery explosion threats from the electrical components of e-cigarettes may hinder the market development. However, relatively lower costs of e-liquid products as compared to the tobacco-based products have influenced smokers to shift toward e-smoking, which in turn has helped boost the e-liquids market.

Furthermore, factors such as a wide variety of cartridge flavors and easy availability of these liquids through retail and online channels are also said to fuel the market growth in near future. Constant proliferation of 3rd and 4th generation e-cigarettes is also projected to augment the global market expansion during the coming years. The global e-liquids market is categorized as per product type and region.

On the basis of product type, the market is categorized into Vegetable Glycerine (VG) base, Propylene Glycol (PG) base, and others. On the basis of region, the market is fragmented into North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific. The Europe region led the global market in the past. The region is estimated to reach USD 1.23 million by 2022 expanding at a 6.85% CAGR from 2018 to 2023.

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However, Asia Pacific region is expected to account for a major chunk of e-liquids market share over the next few years. India, China, and several Southeast Asian nations are predicted to drive the regional market during the forecast period on account of presence of large number of target population. The North America region is also expected to be the fastest-growing regional market as a result of high adoption levels of e-cigarettes. The MEA regional market is at a nascent stage and is predicted to grow at a steady growth rate.

The major companies operating in the global e-liquids market include VMR Products LLC; Halcyon Vapors; Motley Brews LLC; Ripe Vapes; and Dinner Lady FAM Ltd. New product development, partnerships, and mergers and acquisitions are the key market strategies undertaken by most of these companies to maintain competitive edge. For instance, Blu recently expanded its e-liquid product portfolio by adding eight new flavors to the existing range. The flavored e-liquids—Vanilla Crème, Peach Passion, Tropic Tonic, Mint Chocolate, Green Apple, and Berry Swirl—are available in 10ml bottles and with 0% and 0.8% nicotine strengths. Remaining two flavors—Polar Mint and Caramel Café—are available with nicotine strength of 1.6%.

Market Segment

The major players in global E-Liquids market include

  • VMR Products LLC
  • Halo
  • Black Note
  • Liquid State
  • Ripe Vapes
  • Kings Crest
  • Motley Brew
  • Halycon Vapors
  • Space Jam
  • Dinner Lady
  • Nasty Juice

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Geographically, this report is segmented into several key Regions, with Sales, Sales, revenue, Market Share (%) and Growth Rate (%) of E-Liquids in these regions, from 2012 to 2022 (forecast), covering

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

On the basis of product, the E-Liquids market is primarily split into

  • PG base
  • VG base
  • Others

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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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