E-liquid is a major ingredient used in e-cigarettes. E-liquids are available in various flavors, including chocolate, mint, cookies, and confectioneries. Nowadays, manufacturers are increasingly conscious about the selection of raw materials during the production process to comply with standards specified by the food safety regulators. E-liquids contain limited amounts of toxicants over other tobacco products. Increasing youngsters’ demand for safer alternatives to cigarette smoking is a prominent factor driving the growth of the e-liquid market
From the regional perspective, North America dominated the e-liquid market with ~41% market share in 2021. The global market growth in the region is majorly attributed to the significant demand for e-cigarettes and e-liquid products across the US and Canada. In addition, presence of key players, such as USA Vape Labs and ZampleBox LLC., in the US and Canada results in significant revenue generation from such products in North America. The below figure shows the revenue growth trend in the North America e-liquid market:
Source: The Insight Partners Analysis
The report analyses factors, such as drivers, opportunities, restraints, and future trends, which impacts the e-liquid market. It also provides an exhaustive Porter's five forces analysis of the factors influencing the market.
The lockdown restrictions imposed due to COVID-19 outbreak have adversely affected the supply chain of the tobacco products and reduced the consumption of the e-liquid and e-cigarette products. In addition, adherence of social distancing norms and to avoid the spread of novel coronavirus infection lowered the consumers’ confidence toward visiting tobacco shops for buying e-liquid products, thereby hindered the growth of the global e-liquid market. However, the reopening of tobacco shops and supermarkets post COVID-19 related lockdown restrictions has uplifted the e-liquids demand in regions, such as Asia Pacific, Europe, and North America.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
Report ScopeThe regional trends and factors influencing the E-Liquid Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses E-Liquid Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Report Attribute | Details |
---|---|
Market size in 2024 | US$ 1.92 Billion |
Market Size by 2031 | US$ 4.07 Billion |
Global CAGR (2025 - 2031) | 11.25% |
Historical Data | 2021-2023 |
Forecast period | 2025-2031 |
Segments Covered |
By Flavor
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
The E-Liquid Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the E-Liquid Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies
1. Black Note, Inc
2. Fuggin Vapor Co.
3. Humble Juice Co.
4. Mig Vapor LLC
5. Molecule Labs, Inc.
6. Nicopure
7. Savage Enterprises
8. USA Vape Lab
9. Vape Craft Inc.
10. ZampleBox LLC