E-Liquids Market, By Base Type (PG & VG, Vegetable Glycerin, and Propylene Glycol), By Sales Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Independent Small Groceries, and Online Retail), By Flavor (Original Tobacco, Mint & Menthol, Fruits & Candy, Chocolate, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Trends, Analysis, and Forecast to 2034

E-liquids Market was valued at US$ 2.3 billion in 2024 and is projected to grow at a CAGR of 14.4% to reach US$ 8.2 billion by 2034.

E-liquid is also known as e-juice which is a mixture used in the various vapor products. This liquid is usually containing propylene glycol, glycerin, nicotine, flavorings, additives, and differing amounts of contaminants. Such liquids are heat up to the point still it becomes a vapor. These products are used to inhaled, in the e-cigarettes or vape devices. E-liquids are available in various types such as regular cigarettes, like cigars, pipes, pens and USB flash drives, and with number of flavors such as menthol, mint, chocolate, cola and different fruits in the market in the market.

E-Liquids Market Dynamics

E-liquid vaping provide considerable amount of advantages as compared to traditional smoking to the smokers. It is used to help smokers in order to reduce the consumption of tar and nicotine, which has led various smokers partially or completely quitting smoking. These health benefits are propelling the demand for E-Liquid market. For instance, Public Health England has claimed that e-cigarettes are 95% harmless than smoked tobacco. Additionally, e-cigarettes are cost effective also feasible to use with various flavor and availability of number of different models, such factor attract more smoker and boost the target market growth. Availability traditional substitute such as tobacco cigarettes, and cigar are major factor hampering the target market growth. Research and development to reduce the nicotine intake and the harmful effect of e-citrate with introducing new flavor product will provide an opportunity to the market.

The key players operating in the E-liquids Market includes VMR Products LLC, Mig Vapor LLC, VaporFi, Inc., Black Note, Nicopure Labs LLC, VistaVapors, Inc., ZampleBox, LLC., Fuggin Vapor Co., Silver Laboratories (Basix eLiqiuids), and Humble Juice Co.

Recent Development:

• In March 2023, Altria announced a formal deal to buy NJOY Holdings, Inc., consolidating its position as the only global owner of NJOY's e-vapor product portfolio. Taking into account NJOY's e-vapor intellectual property, Altria placed itself to create a new platform for future innovation. Altria's takeover of NJOY was a turning point in the e-vapor sector, demonstrating the company's dedication to staying ahead of emerging technology and market trends.
• In May 2022, Innokin Technology introduced Lota, a brand-new sub-brand. Aquios Labs released AQ30, a water-based vape juice with an impressive 30% water concentration. Innokin's entry into the water-based vape juice market with AQ30 underscores the company's commitment to improving technology and fulfilling changing customer expectations in the vaping arena.

• VMR Products LLC
• Mig Vapor LLC
• VaporFi, Inc.
• Black Note
• Nicopure Labs LLC
• VistaVapors, Inc.
• ZampleBox, LLC.
• Fuggin Vapor Co.
• Silver Laboratories (Basix eLiqiuids)
• Humble Juice Co.