E-Liquids Market Report – Research, Industry Analysis Reports and Market Demands

Global E-Liquids Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

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Table of Content

1 Market Overview

1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
- 1.3.1 Overview: Global E-Liquids Consumption Value by Type: 2020 Versus 2024 Versus 2031
- 1.3.2 PG Base E-Liquids
- 1.3.3 VG Base E-Liquids
- 1.3.4 Blend PG & VG
1.4 Market Analysis by Sales Channel
- 1.4.1 Overview: Global E-Liquids Consumption Value by Sales Channel: 2020 Versus 2024 Versus 2031
- 1.4.2 Offline
- 1.4.3 Online
1.5 Global E-Liquids Market Size & Forecast
- 1.5.1 Global E-Liquids Consumption Value (2020 & 2024 & 2031)
- 1.5.2 Global E-Liquids Sales Quantity (2020-2031)
- 1.5.3 Global E-Liquids Average Price (2020-2031)

2 Manufacturers Profiles

3 Competitive Environment: E-Liquids by Manufacturer

3.1 Global E-Liquids Sales Quantity by Manufacturer (2020-2025)
3.2 Global E-Liquids Revenue by Manufacturer (2020-2025)
3.3 Global E-Liquids Average Price by Manufacturer (2020-2025)
3.4 Market Share Analysis (2024)
- 3.4.1 Producer Shipments of E-Liquids by Manufacturer Revenue ($MM) and Market Share (%): 2024
- 3.4.2 Top 3 E-Liquids Manufacturer Market Share in 2024
- 3.4.3 Top 6 E-Liquids Manufacturer Market Share in 2024
3.5 E-Liquids Market: Overall Company Footprint Analysis
- 3.5.1 E-Liquids Market: Region Footprint
- 3.5.2 E-Liquids Market: Company Product Type Footprint
- 3.5.3 E-Liquids Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations

4 Consumption Analysis by Region

4.1 Global E-Liquids Market Size by Region
- 4.1.1 Global E-Liquids Sales Quantity by Region (2020-2031)
- 4.1.2 Global E-Liquids Consumption Value by Region (2020-2031)
- 4.1.3 Global E-Liquids Average Price by Region (2020-2031)
4.2 North America E-Liquids Consumption Value (2020-2031)
4.3 Europe E-Liquids Consumption Value (2020-2031)
4.4 Asia-Pacific E-Liquids Consumption Value (2020-2031)
4.5 South America E-Liquids Consumption Value (2020-2031)
4.6 Middle East & Africa E-Liquids Consumption Value (2020-2031)

5 Market Segment by Type

5.1 Global E-Liquids Sales Quantity by Type (2020-2031)
5.2 Global E-Liquids Consumption Value by Type (2020-2031)
5.3 Global E-Liquids Average Price by Type (2020-2031)

6 Market Segment by Sales Channel

6.1 Global E-Liquids Sales Quantity by Sales Channel (2020-2031)
6.2 Global E-Liquids Consumption Value by Sales Channel (2020-2031)
6.3 Global E-Liquids Average Price by Sales Channel (2020-2031)

7 North America

7.1 North America E-Liquids Sales Quantity by Type (2020-2031)
7.2 North America E-Liquids Sales Quantity by Sales Channel (2020-2031)
7.3 North America E-Liquids Market Size by Country
- 7.3.1 North America E-Liquids Sales Quantity by Country (2020-2031)
- 7.3.2 North America E-Liquids Consumption Value by Country (2020-2031)
- 7.3.3 United States Market Size and Forecast (2020-2031)
- 7.3.4 Canada Market Size and Forecast (2020-2031)
- 7.3.5 Mexico Market Size and Forecast (2020-2031)

8 Europe

8.1 Europe E-Liquids Sales Quantity by Type (2020-2031)
8.2 Europe E-Liquids Sales Quantity by Sales Channel (2020-2031)
8.3 Europe E-Liquids Market Size by Country
- 8.3.1 Europe E-Liquids Sales Quantity by Country (2020-2031)
- 8.3.2 Europe E-Liquids Consumption Value by Country (2020-2031)
- 8.3.3 Germany Market Size and Forecast (2020-2031)
- 8.3.4 France Market Size and Forecast (2020-2031)
- 8.3.5 United Kingdom Market Size and Forecast (2020-2031)
- 8.3.6 Russia Market Size and Forecast (2020-2031)
- 8.3.7 Italy Market Size and Forecast (2020-2031)

9 Asia-Pacific

9.1 Asia-Pacific E-Liquids Sales Quantity by Type (2020-2031)
9.2 Asia-Pacific E-Liquids Sales Quantity by Sales Channel (2020-2031)
9.3 Asia-Pacific E-Liquids Market Size by Region
- 9.3.1 Asia-Pacific E-Liquids Sales Quantity by Region (2020-2031)
- 9.3.2 Asia-Pacific E-Liquids Consumption Value by Region (2020-2031)
- 9.3.3 China Market Size and Forecast (2020-2031)
- 9.3.4 Japan Market Size and Forecast (2020-2031)
- 9.3.5 South Korea Market Size and Forecast (2020-2031)
- 9.3.6 India Market Size and Forecast (2020-2031)
- 9.3.7 Southeast Asia Market Size and Forecast (2020-2031)
- 9.3.8 Australia Market Size and Forecast (2020-2031)

10 South America

10.1 South America E-Liquids Sales Quantity by Type (2020-2031)
10.2 South America E-Liquids Sales Quantity by Sales Channel (2020-2031)
10.3 South America E-Liquids Market Size by Country
- 10.3.1 South America E-Liquids Sales Quantity by Country (2020-2031)
- 10.3.2 South America E-Liquids Consumption Value by Country (2020-2031)
- 10.3.3 Brazil Market Size and Forecast (2020-2031)
- 10.3.4 Argentina Market Size and Forecast (2020-2031)

11 Middle East & Africa

11.1 Middle East & Africa E-Liquids Sales Quantity by Type (2020-2031)
11.2 Middle East & Africa E-Liquids Sales Quantity by Sales Channel (2020-2031)
11.3 Middle East & Africa E-Liquids Market Size by Country
- 11.3.1 Middle East & Africa E-Liquids Sales Quantity by Country (2020-2031)
- 11.3.2 Middle East & Africa E-Liquids Consumption Value by Country (2020-2031)
- 11.3.3 Turkey Market Size and Forecast (2020-2031)
- 11.3.4 Egypt Market Size and Forecast (2020-2031)
- 11.3.5 Saudi Arabia Market Size and Forecast (2020-2031)
- 11.3.6 South Africa Market Size and Forecast (2020-2031)

12 Market Dynamics

12.1 E-Liquids Market Drivers
12.2 E-Liquids Market Restraints
12.3 E-Liquids Trends Analysis
12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry

13 Raw Material and Industry Chain

13.1 Raw Material of E-Liquids and Key Manufacturers
13.2 Manufacturing Costs Percentage of E-Liquids
13.3 E-Liquids Production Process
13.4 Industry Value Chain Analysis

14 Shipments by Distribution Channel

14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
14.2 E-Liquids Typical Distributors
14.3 E-Liquids Typical Customers

15 Research Findings and Conclusion

16 Appendix

16.1 Methodology
16.2 Research Process and Data Source

Description

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.

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