The global E-Liquids market size is predicted to grow from US$ 2566 million in 2025 to US$ 4853 million in 2031; it is expected to grow at a CAGR of 11.2% from 2025 to 2031.
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.
The 鈥淓-Liquids Industry Forecast鈥� looks at past sales and reviews total world E-Liquids sales in 2024, providing a comprehensive analysis by region and market sector of projected E-Liquids sales for 2025 through 2031. With E-Liquids sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world E-Liquids industry.
This Insight Report provides a comprehensive analysis of the global E-Liquids landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on E-Liquids portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global E-Liquids market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for E-Liquids and breaks down the forecast by Type, by Sales Channel, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global E-Liquids.
This report presents a comprehensive overview, market shares, and growth opportunities of E-Liquids market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
PG Base E-Liquids
VG Base E-Liquids
Blend PG & VG
Segmentation by Sales Channel:
Offline
Online
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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
Key Questions Addressed in this Report
What is the 10-year outlook for the global E-Liquids market?
What factors are driving E-Liquids market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do E-Liquids market opportunities vary by end market size?
How does E-Liquids break out by Type, by Sales Channel?
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global E-Liquids Annual Sales 2020-2031
2.1.2 World Current & Future Analysis for E-Liquids by Geographic Region, 2020, 2024 & 2031
2.1.3 World Current & Future Analysis for E-Liquids by Country/Region, 2020, 2024 & 2031
2.2 E-Liquids Segment by Type
2.2.1 PG Base E-Liquids
2.2.2 VG Base E-Liquids
2.2.3 Blend PG & VG
2.3 E-Liquids Sales by Type
2.3.1 Global E-Liquids Sales Market Share by Type (2020-2025)
2.3.2 Global E-Liquids Revenue and Market Share by Type (2020-2025)
2.3.3 Global E-Liquids Sale Price by Type (2020-2025)
2.4 E-Liquids Segment by Sales Channel
2.4.1 Offline
2.4.2 Online
2.5 E-Liquids Sales by Sales Channel
2.5.1 Global E-Liquids Sale Market Share by Sales Channel (2020-2025)
2.5.2 Global E-Liquids Revenue and Market Share by Sales Channel (2020-2025)
2.5.3 Global E-Liquids Sale Price by Sales Channel (2020-2025)
3 Global by Company
3.1 Global E-Liquids Breakdown Data by Company
3.1.1 Global E-Liquids Annual Sales by Company (2020-2025)
3.1.2 Global E-Liquids Sales Market Share by Company (2020-2025)
3.2 Global E-Liquids Annual Revenue by Company (2020-2025)
3.2.1 Global E-Liquids Revenue by Company (2020-2025)
3.2.2 Global E-Liquids Revenue Market Share by Company (2020-2025)
3.3 Global E-Liquids Sale Price by Company
3.4 Key Manufacturers E-Liquids Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers E-Liquids Product Location Distribution
3.4.2 Players E-Liquids Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy
4 World Historic Review for E-Liquids by Geographic Region
4.1 World Historic E-Liquids Market Size by Geographic Region (2020-2025)
4.1.1 Global E-Liquids Annual Sales by Geographic Region (2020-2025)
4.1.2 Global E-Liquids Annual Revenue by Geographic Region (2020-2025)
4.2 World Historic E-Liquids Market Size by Country/Region (2020-2025)
4.2.1 Global E-Liquids Annual Sales by Country/Region (2020-2025)
4.2.2 Global E-Liquids Annual Revenue by Country/Region (2020-2025)
4.3 Americas E-Liquids Sales Growth
4.4 APAC E-Liquids Sales Growth
4.5 Europe E-Liquids Sales Growth
4.6 Middle East & Africa E-Liquids Sales Growth
5 Americas
5.1 Americas E-Liquids Sales by Country
5.1.1 Americas E-Liquids Sales by Country (2020-2025)
5.1.2 Americas E-Liquids Revenue by Country (2020-2025)
5.2 Americas E-Liquids Sales by Type (2020-2025)
5.3 Americas E-Liquids Sales by Sales Channel (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC E-Liquids Sales by Region
6.1.1 APAC E-Liquids Sales by Region (2020-2025)
6.1.2 APAC E-Liquids Revenue by Region (2020-2025)
6.2 APAC E-Liquids Sales by Type (2020-2025)
6.3 APAC E-Liquids Sales by Sales Channel (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe E-Liquids by Country
7.1.1 Europe E-Liquids Sales by Country (2020-2025)
7.1.2 Europe E-Liquids Revenue by Country (2020-2025)
7.2 Europe E-Liquids Sales by Type (2020-2025)
7.3 Europe E-Liquids Sales by Sales Channel (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa E-Liquids by Country
8.1.1 Middle East & Africa E-Liquids Sales by Country (2020-2025)
8.1.2 Middle East & Africa E-Liquids Revenue by Country (2020-2025)
8.2 Middle East & Africa E-Liquids Sales by Type (2020-2025)
8.3 Middle East & Africa E-Liquids Sales by Sales Channel (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of E-Liquids
10.3 Manufacturing Process Analysis of E-Liquids
10.4 Industry Chain Structure of E-Liquids
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 E-Liquids Distributors
11.3 E-Liquids Customer
12 World Forecast Review for E-Liquids by Geographic Region
12.1 Global E-Liquids Market Size Forecast by Region
12.1.1 Global E-Liquids Forecast by Region (2026-2031)
12.1.2 Global E-Liquids Annual Revenue Forecast by Region (2026-2031)
12.2 Americas Forecast by Country (2026-2031)
12.3 APAC Forecast by Region (2026-2031)
12.4 Europe Forecast by Country (2026-2031)
12.5 Middle East & Africa Forecast by Country (2026-2031)
12.6 Global E-Liquids Forecast by Type (2026-2031)
12.7 Global E-Liquids Forecast by Sales Channel (2026-2031)
13 Key Players Analysis
13.1 Halo
13.1.1 Halo Company Information
13.1.2 Halo E-Liquids Product Portfolios and Specifications
13.1.3 Halo E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.1.4 Halo Main Business Overview
13.1.5 Halo Latest Developments
13.2 VMR Product
13.2.1 VMR Product Company Information
13.2.2 VMR Product E-Liquids Product Portfolios and Specifications
13.2.3 VMR Product E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.2.4 VMR Product Main Business Overview
13.2.5 VMR Product Latest Developments
13.3 Turning Points Brands
13.3.1 Turning Points Brands Company Information
13.3.2 Turning Points Brands E-Liquids Product Portfolios and Specifications
13.3.3 Turning Points Brands E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.3.4 Turning Points Brands Main Business Overview
13.3.5 Turning Points Brands Latest Developments
13.4 Nasty Juice
13.4.1 Nasty Juice Company Information
13.4.2 Nasty Juice E-Liquids Product Portfolios and Specifications
13.4.3 Nasty Juice E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.4.4 Nasty Juice Main Business Overview
13.4.5 Nasty Juice Latest Developments
13.5 NicVape
13.5.1 NicVape Company Information
13.5.2 NicVape E-Liquids Product Portfolios and Specifications
13.5.3 NicVape E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.5.4 NicVape Main Business Overview
13.5.5 NicVape Latest Developments
13.6 Truvape
13.6.1 Truvape Company Information
13.6.2 Truvape E-Liquids Product Portfolios and Specifications
13.6.3 Truvape E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.6.4 Truvape Main Business Overview
13.6.5 Truvape Latest Developments
13.7 VaporCast
13.7.1 VaporCast Company Information
13.7.2 VaporCast E-Liquids Product Portfolios and Specifications
13.7.3 VaporCast E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.7.4 VaporCast Main Business Overview
13.7.5 VaporCast Latest Developments
13.8 Space Jam
13.8.1 Space Jam Company Information
13.8.2 Space Jam E-Liquids Product Portfolios and Specifications
13.8.3 Space Jam E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.8.4 Space Jam Main Business Overview
13.8.5 Space Jam Latest Developments
13.9 Kings Crest
13.9.1 Kings Crest Company Information
13.9.2 Kings Crest E-Liquids Product Portfolios and Specifications
13.9.3 Kings Crest E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.9.4 Kings Crest Main Business Overview
13.9.5 Kings Crest Latest Developments
13.10 Ripe Vapes
13.10.1 Ripe Vapes Company Information
13.10.2 Ripe Vapes E-Liquids Product Portfolios and Specifications
13.10.3 Ripe Vapes E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.10.4 Ripe Vapes Main Business Overview
13.10.5 Ripe Vapes Latest Developments
13.11 Nicquid
13.11.1 Nicquid Company Information
13.11.2 Nicquid E-Liquids Product Portfolios and Specifications
13.11.3 Nicquid E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.11.4 Nicquid Main Business Overview
13.11.5 Nicquid Latest Developments
13.12 Vape Wild
13.12.1 Vape Wild Company Information
13.12.2 Vape Wild E-Liquids Product Portfolios and Specifications
13.12.3 Vape Wild E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.12.4 Vape Wild Main Business Overview
13.12.5 Vape Wild Latest Developments
13.13 Black Note
13.13.1 Black Note Company Information
13.13.2 Black Note E-Liquids Product Portfolios and Specifications
13.13.3 Black Note E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.13.4 Black Note Main Business Overview
13.13.5 Black Note Latest Developments
13.14 Halcyon Vapors
13.14.1 Halcyon Vapors Company Information
13.14.2 Halcyon Vapors E-Liquids Product Portfolios and Specifications
13.14.3 Halcyon Vapors E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.14.4 Halcyon Vapors Main Business Overview
13.14.5 Halcyon Vapors Latest Developments
13.15 Fontem Ventures
13.15.1 Fontem Ventures Company Information
13.15.2 Fontem Ventures E-Liquids Product Portfolios and Specifications
13.15.3 Fontem Ventures E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.15.4 Fontem Ventures Main Business Overview
13.15.5 Fontem Ventures Latest Developments
13.16 Crystal Canyon Vapes
13.16.1 Crystal Canyon Vapes Company Information
13.16.2 Crystal Canyon Vapes E-Liquids Product Portfolios and Specifications
13.16.3 Crystal Canyon Vapes E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.16.4 Crystal Canyon Vapes Main Business Overview
13.16.5 Crystal Canyon Vapes Latest Developments
13.17 Mig Vapor
13.17.1 Mig Vapor Company Information
13.17.2 Mig Vapor E-Liquids Product Portfolios and Specifications
13.17.3 Mig Vapor E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.17.4 Mig Vapor Main Business Overview
13.17.5 Mig Vapor Latest Developments
13.18 Vape Dudes
13.18.1 Vape Dudes Company Information
13.18.2 Vape Dudes E-Liquids Product Portfolios and Specifications
13.18.3 Vape Dudes E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.18.4 Vape Dudes Main Business Overview
13.18.5 Vape Dudes Latest Developments
13.19 KAIs Virgin Vapor
13.19.1 KAIs Virgin Vapor Company Information
13.19.2 KAIs Virgin Vapor E-Liquids Product Portfolios and Specifications
13.19.3 KAIs Virgin Vapor E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.19.4 KAIs Virgin Vapor Main Business Overview
13.19.5 KAIs Virgin Vapor Latest Developments
13.20 ZampleBox
13.20.1 ZampleBox Company Information
13.20.2 ZampleBox E-Liquids Product Portfolios and Specifications
13.20.3 ZampleBox E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.20.4 ZampleBox Main Business Overview
13.20.5 ZampleBox Latest Developments
13.21 VaporFi
13.21.1 VaporFi Company Information
13.21.2 VaporFi E-Liquids Product Portfolios and Specifications
13.21.3 VaporFi E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.21.4 VaporFi Main Business Overview
13.21.5 VaporFi Latest Developments
13.22 Nicopure Labs
13.22.1 Nicopure Labs Company Information
13.22.2 Nicopure Labs E-Liquids Product Portfolios and Specifications
13.22.3 Nicopure Labs E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.22.4 Nicopure Labs Main Business Overview
13.22.5 Nicopure Labs Latest Developments
13.23 VistaVapors
13.23.1 VistaVapors Company Information
13.23.2 VistaVapors E-Liquids Product Portfolios and Specifications
13.23.3 VistaVapors E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.23.4 VistaVapors Main Business Overview
13.23.5 VistaVapors Latest Developments
13.24 Fuggin Vapor
13.24.1 Fuggin Vapor Company Information
13.24.2 Fuggin Vapor E-Liquids Product Portfolios and Specifications
13.24.3 Fuggin Vapor E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.24.4 Fuggin Vapor Main Business Overview
13.24.5 Fuggin Vapor Latest Developments
13.25 Silver Laboratories (Basix eLiqiuids)
13.25.1 Silver Laboratories (Basix eLiqiuids) Company Information
13.25.2 Silver Laboratories (Basix eLiqiuids) E-Liquids Product Portfolios and Specifications
13.25.3 Silver Laboratories (Basix eLiqiuids) E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.25.4 Silver Laboratories (Basix eLiqiuids) Main Business Overview
13.25.5 Silver Laboratories (Basix eLiqiuids) Latest Developments
13.26 Humble Juice Co
13.26.1 Humble Juice Co Company Information
13.26.2 Humble Juice Co E-Liquids Product Portfolios and Specifications
13.26.3 Humble Juice Co E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.26.4 Humble Juice Co Main Business Overview
13.26.5 Humble Juice Co Latest Developments
13.27 USA Vape Labe
13.27.1 USA Vape Labe Company Information
13.27.2 USA Vape Labe E-Liquids Product Portfolios and Specifications
13.27.3 USA Vape Labe E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.27.4 USA Vape Labe Main Business Overview
13.27.5 USA Vape Labe Latest Developments
13.28 Savage Enterprises
13.28.1 Savage Enterprises Company Information
13.28.2 Savage Enterprises E-Liquids Product Portfolios and Specifications
13.28.3 Savage Enterprises E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.28.4 Savage Enterprises Main Business Overview
13.28.5 Savage Enterprises Latest Developments
13.29 Mr. Macaron Vapes Corporation
13.29.1 Mr. Macaron Vapes Corporation Company Information
13.29.2 Mr. Macaron Vapes Corporation E-Liquids Product Portfolios and Specifications
13.29.3 Mr. Macaron Vapes Corporation E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.29.4 Mr. Macaron Vapes Corporation Main Business Overview
13.29.5 Mr. Macaron Vapes Corporation Latest Developments
13.30 Mt baker Vapor
13.30.1 Mt baker Vapor Company Information
13.30.2 Mt baker Vapor E-Liquids Product Portfolios and Specifications
13.30.3 Mt baker Vapor E-Liquids Sales, Revenue, Price and Gross Margin (2020-2025)
13.30.4 Mt baker Vapor Main Business Overview
13.30.5 Mt baker Vapor Latest Developments
14 Research Findings and Conclusion
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*If Applicable.