According to our (Global Info Research) latest study, the global E-Liquids market size was valued at US$ 2460 million in 2024 and is forecast to a readjusted size of USD 4926 million by 2031 with a CAGR of 10.5% during review period.
E-liquid is the mixture used in vapor products such as e-cigarettes and generally consists of propylene glycol, glycerin, water, nicotine, and flavorings. While the ingredients vary the liquid typically contains 95% propylene glycol and glycerin.
The e-liquid market is primarily driven by the growing popularity of e-cigarettes and vaping devices as alternatives to traditional tobacco products. Consumers, particularly younger demographics, are increasingly turning to e-cigarettes due to the perception that they are a less harmful option compared to smoking. E-liquids, which come in a wide variety of flavors and nicotine strengths, offer customizable experiences, further attracting users. Additionally, the rise of online retail and increasing acceptance of vaping in social settings contribute to market growth, as e-liquids become more accessible and visible in mainstream culture.
One of the significant challenges facing the e-liquid market is the tightening regulatory environment, particularly concerning the health risks associated with vaping. Governments in many countries are imposing stricter regulations on e-cigarettes and e-liquids, including flavor bans, advertising restrictions, and increased taxation, which may limit market expansion. Furthermore, growing concerns about the long-term health effects of vaping, particularly among young people, have led to increased public scrutiny and negative media attention. This, combined with the potential for product safety issues (such as contamination or improper nicotine labeling), poses a threat to consumer confidence and market stability.
North America is the largest market with about 44% market share. Europe is follower, accounting for about 27% market share. The key players are Halo, VMR Product, Turning Points Brands, Nasty Juice, NicVape, Truvape, VaporCast, Space Jam, Kings Crest, Ripe Vapes, Nicquid, Dinner Lady, Vape Wild, Black Note, Halcyon Vapors etc. Top 3 companies occupied about 11% market share.
This report is a detailed and comprehensive analysis for global E-Liquids market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Sales Channel. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global E-Liquids market size and forecasts, in consumption value ($ Million), sales quantity (MT), and average selling prices (USD/Kg), 2020-2031
Global E-Liquids market size and forecasts by region and country, in consumption value ($ Million), sales quantity (MT), and average selling prices (USD/Kg), 2020-2031
Global E-Liquids market size and forecasts, by Type and by Sales Channel, in consumption value ($ Million), sales quantity (MT), and average selling prices (USD/Kg), 2020-2031
Global E-Liquids market shares of main players, shipments in revenue ($ Million), sales quantity (MT), and ASP (USD/Kg), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for E-Liquids
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global E-Liquids market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Halo, VMR Product, Turning Points Brands, Nasty Juice, NicVape, Truvape, VaporCast, Space Jam, Kings Crest, Ripe Vapes, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
E-Liquids market is split by Type and by Sales Channel. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Sales Channel in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
PG Base E-Liquids
VG Base E-Liquids
Blend PG & VG
Market segment by Sales Channel
Offline
Online
Major players covered
Halo
VMR Product
Turning Points Brands
Nasty Juice
NicVape
Truvape
VaporCast
Space Jam
Kings Crest
Ripe Vapes
Nicquid
Vape Wild
Black Note
Halcyon Vapors
Fontem Ventures
Crystal Canyon Vapes
Mig Vapor
Vape Dudes
KAIs Virgin Vapor
ZampleBox
VaporFi
Nicopure Labs
VistaVapors
Fuggin Vapor
Silver Laboratories (Basix eLiqiuids)
Humble Juice Co
USA Vape Labe
Savage Enterprises
Mr. Macaron Vapes Corporation
Mt baker Vapor
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe E-Liquids product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of E-Liquids, with price, sales quantity, revenue, and global market share of E-Liquids from 2020 to 2025.
Chapter 3, the E-Liquids competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the E-Liquids breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Sales Channel, with sales market share and growth rate by Type, by Sales Channel, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and E-Liquids market forecast, by regions, by Type, and by Sales Channel, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of E-Liquids.
Chapter 14 and 15, to describe E-Liquids sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on E-Liquids. Industry analysis & Market Report on E-Liquids is a syndicated market report, published as Global E-Liquids Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031. It is complete Research Study and Industry Analysis of E-Liquids market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.