Market Definition:
E liquid is a liquid content used for fueling an electronic cigarette or a personal vaporizer. E liquids are utilized as substitutes over the traditional tobacco smoke. Various names of E- liquids include vape juice and E-juice and it comprises nicotine solution that is far lesser than a traditional cigarette.
One of the essential drivers of this market is the health benefits provided by cigarettes E- liquids. An E-liquid is better than the traditional cigarettes because it delivers nicotine in a vapor instead of smoke and therefore it is considerably safer as compared to other tobacco products.
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Market Growth and Analysis:
The application of E-Cigarettes is essentially to aid a smoking addict in reducing or quitting smoking due to the minimal or no nicotine content in such cigarettes. The content of nicotine in E-liquid mostly ranges from 0 to 20 MG/ML. However, the market for E-liquid with higher nicotine content is vaster than the free E-liquid market. The highest numbers can be registered by the E-liquids containing 12 to 18 MG/ML of nicotine. Based on the immense population addicted to cigarettes and the rising awareness pertaining to the advantages of smoking an E-cigarette over the tobacco ones, it can be estimated that this market will grow significantly over the forecast period.
Another factor that is estimated to propel the E Liquid market is the considerably lower cost of E-cigarettes as compared to tobacco products. Affordable costs motivate smokers who wish to switch to these devices thereby escalating the market growth. Moreover, the ease of availability of E-liquid such as by online means as well as retail channels, also contributes in market growth. Furthermore, the availability of these devices in myriad of cartridge flavors is also estimated to register soaring sales of these devices. However, presence of toxicants similar to tobacco, even though it is at a much lower level, risk of poisoning from consumption of e-liquids, threats of fire from electrical elements of the E-cigarette or explosion of battery are a few factors that act as a constraint for this market. Moreover, E-liquid may also be the causative factor of various other ill health effects due to the presence of toxin, heavy metals and harmful chemicals in the vapors which are absent in tobacco smoke.
Market Segment:
Global E liquid market is segregated into base type, cartridge type, flavours and regions. On the basis of Base Type, the global E-liquid market is segmented into PG (Propylene Glycol), VG (Vegetable Glycerine), PG and VG. Based on Cartridges Type, the global E-liquid market is segmented into Prefilled and Refillable. On the basis of flavours, the global E-liquid market is segmented into tobacco, mint & menthol, fruits & nuts, chocolate, dessert and others. Geographically, the global E-liquid market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Key Players:
Key Players of the E Liquid Market are eLiquid Factory, VMR Products LLC, VaporFi, Inc, Mig Vapor LLC, Black Note, Halo, VistaVapors, Inc., Mt Baker Vapor, ZampleBox, LLC, Breazy, Henley, Virgin Vapor, Crystal Canyon Vapes LLC, Strix Elixirs, Vape Dudes and Highbrow Vapor.
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Regional Analysis:
The North American region generates the largest revenue for the E Liquid market owing to high demand by end users for e-cigarettes and vaporizers, enhanced e-liquid product offerings at various convenience stores and online retailers. The European region is estimated to have a fast growing E liquid market owing to the high adoption rate of E-cigarette. The Asia Pacific region is anticipated to register a moderate growth rate to the global E-liquid market since the E-liquid market is yet at a nascent stage in this region.
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