North America E-Liquid Market

North America E-Liquid Market Size Share Growth Analysis 2022 - 2027:

North America E-Liquid Market was worth USD XX million in 2020, so it is estimated to reach USD XX million by 2026, growing at a CAGR of XX%. The growing acceptance of alternative options to smoking is expected to fuel demand for e-cigarettes over the forecast timeframe. Additionally, the accessibility of e-liquids in a variety of flavours such as tobacco, menthol, chocolate, and fruit and nuts are expected to increase e-liquid consumption. Increasing public health concern, combined with the availability of low-toxicant e-liquids, is likely to propel the market in the future.

Recent Developments

1. Flavors & More introduced three new premium e-liquids to their premium category in August 2016, namely Cypher, Hawkeye, and iGen.
2. The British American Tobacco Company introduced new vaping goods in December 2018, including the new Puretech paddle technology. Vype iSwitch and Vype iSwicth Maxx were the featured goods. The technique is improved by using ultra-thin stainless-steel sheets to heat the e-liquid instead of a coil and wick, which enhances overall functionality.
3. Gilla Inc., a developer, supplier, and producer of e-liquids for vaporizers and related components announced that it has finalized the acquisition of the properties of 901 Vaping Company LLC, which incorporates Craft Vapes, a premium brand of e-liquid.
4. Flavour Warehouse Ltd announced the acquisition of Premier Retail Limited, which will allow the company to grow its footprint in the United Kingdom and strengthen its status as a leading player in the vaping hardware market.
5. The Lucky Strike brand's owner announced the recent purchase of an e-cigarette startup in the Northwest. British American Tobacco stated in a section of its interim results under "Other Group Changes" that it had purchased some assets of Must-Have Ltd (MHL) in the UK, including the e-cigarette brand ViP.

Market Growth

Drivers

E-liquids also have a lower price point than tobacco products and are accessible in a multitude of price ranges, making these e-liquids more affordable. Furthermore, vaping has the potential to assist smokers in quitting smoking, making e-liquid a beneficial alternative to smoking. The rising prices of traditional cigarettes have increased the demand for e-liquids and e-cigarettes, propelling the market. Technologically sophisticated e-cigarettes are gaining market popularity, raising the demand for varied e-liquids to enhance the vaping experience. To broaden their client base, e-cigarette producers are releasing new device configurations and items at low rates. Modular e-cigarettes are becoming more popular due to the customization possibilities offered, which allow users to interchange elements such as coils, atomizers, and battery modifications to achieve the desired flavour and improve the vaping experience. The expanding Do-it-Yourself (DIY) trend in the industry, in which users may create their own e-liquid by blending various tastes, is driving market expansion over the forecast period. The availability of e-liquids with various nicotine strengths, such as 3 mg, 6 mg, 12 mg, and 24 mg, allowing users to choose their e-liquids according to their needs, is also garnering a huge consumer base in the industry.

Restraints

Local officials' stringent restrictions on the use of e-liquids are assumed to stymie market growth.

Market Segmentation

The North America E-Liquid Market is segmented by Base, Flavour, Product and Sales Channels.

By Base

• Propylene Glycol
• Vegetable Glycerin
• PG & VG

The market is categorized into Propylene Glycol, Vegetable Glycerin, and PG & VG. For smokers, vaping and e-cigarettes have offered health benefits. Nevertheless, it is still unclear if e-liquids are completely safe to consume. In many situations, users are unaware of the contents of e-liquids since these e-liquid bottles come into touch with other substances, resulting in the formation of harmful toxins. Consumers normally concern e-liquid producers about the negative consequences of flavors blended with propylene glycol (PG) present in vape juices.

By Flavor

• Dessert, chocolate
• Fruits & candy
• Mint & menthol
• Original tobacco
• Others.

The market is divided into dessert, chocolate, fruits & candy, mint & menthol, original tobacco, and others. In 2020, the tobacco category led the market and accounted for the greatest revenue share. This can be related to smokers' increasing demand for tobacco-flavored e-liquid, which simulates the feeling of smoking real tobacco. Furthermore, rising tobacco product usage among students and females is expected to support tobacco segment growth over the projection period. Because of the increased demand, vendors are increasingly focusing on developing and introducing new flavors of e-liquids to the market.

By Product

• Bottled
• Pre-filled

The market is segmented into bottled and pre-filled. In 2020, the bottled category held the largest market share. Bottled e-liquids enable the customers to rapidly and effortlessly refill their vape tanks. Also, bottled e-liquid may be kept securely and safely for a prolonged period of time and could be used to make DIY e-juices. These variables are likely to assist the category in achieving remarkable market growth during the forecast period. The pre-filled segment is expected to develop significantly during the projected period. This is due to the ease with which cartridges prefilled with e-liquid can be disposed of. Furthermore, the cost-effectiveness of pre-filled e-liquids, as well as the increased demand for new tastes among young people, are expected to boost the segment's expansion over the projection period.

By Sales Channel

• Hypermarkets/supermarkets
• Convenience stores
• Specialty stores
• Small independent grocery stores
• Online retail

The market can be categorized into hypermarkets/supermarkets, convenience stores, specialty stores, small independent grocery stores, and online retail. In 2020, the retail store segment held the largest market share. This is due to the fact that certain retail establishments enable clients to try several e-liquid flavors and e-cigarette items before purchasing. Grocery stores, specialty stores, pharmacies, and tobacconists are all sub-segments of the retail store segment. Over the projected period, the online category is expected to increase substantially. Rising advancements in digital distribution networks to limit the sale of nicotine products by minor consumers are predicted to fuel the online segment's growth throughout the forecast period.

Regional Analysis

Geographically the North America E-Liquid Market is segmented into US, Canada, Mexico and Rest of North America.

• U.S
• Canada
• Rest of North America

The number of vape shops in North America has increased, allowing customers to personally test e-liquid varieties before purchasing. In terms of revenue generation, the area will reclaim the lead. The presence of major players in the region. Furthermore, the region embraced e-liquid technology at a higher rate than the rest of the world. Furthermore, the customer base's vested interest compels the region's manufacturers to reward their products with further benefits.

Impact of COVID-19 on North America E-Liquid Market

The COVID-19 epidemic has had a detrimental effect on the market, as shutdowns have forced the closure of non-essential manufacturing plants, hampering the manufacture of both pre-filled and bottled e-liquid goods. The epidemic has spurred countries to impose lockdowns in order to contain the disease's development. Market players are temporarily suspending production in response to the shutdowns, and logistics companies are no longer transferring items within and across borders. In addition, due to varying amounts of lockdowns during the epidemic, numerous online shops have temporarily halted taking orders online.

Key Players

Major Players in the North America E-Liquid Market are

• Vape Dudes
• VMR Flavors LLC
• Virgin Vapor
• Black Note
• eLiquid Factory
• VaporFi, Inc.
• Mt Baker Vapor
• VistaVapors, Inc.
• Halo
• ZampleBox
• Henley