Top Emerging Trends Of E-liquid Market Progress Forecast 2027
Posted by Mrudula Anil Karmarkar on March 3rd, 2022
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 Vap?r Ltd., a distributor of e-cigarette and e-liquid in Bulgaria. Nicopure appointed Vap?r 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 2021, 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.
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E-liquid Market Report Highlights
E-liquids also offer a price advantage over tobacco products and are available in various price ranges, improving the affordability of these e-liquids. Moreover, vaping has the potential of helping smokers quit smoking, thus making e-liquid an effective alternative to smoking. The rising prices of traditional cigarettes have further encouraged the demand for e-liquids and e-cigarettes globally, thereby driving the market. Technologically advanced e-cigarettes are gaining popularity in the market, thus increasing the demand for various e-liquids to enhance the vaping experience
List of Key Players of the E-liquid Market
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 877
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