E-Liquids can be categorized into eJuice, eCigarettes, eFluids, vaporizer cigarettes, electronic nicotine delivery systems (ENDS), electronic non-nicotine delivery systems (ENNDS), and eCigs. The eCigarettes are considered as an alternative to real cigarettes with no tobacco and is powered by a battery device that emits a flavored fog (nicotine is required if the user prefers it) when inhaled. In India, eCigarette business is in initial stage as consumers are starting to switch from traditional cigarette to eCigarette, which are considered healthier – hence eCigarette is becoming popular among the end-users. Additionally, eLiquids are 95% less harmful than a normal cigarette.
Market Analysis: According to Infoholic Research, the “Indian eLiquid and eJuice Market” is estimated to witness a CAGR of 54.1% during the forecast period 2016-2022. The increasing young population, changing consumer lifestyle, changing demands, and spending activities have led the demand for eLiquid and eJuice in India. In addition, the development of innovative products with extra features helps to improve the customer satisfaction and increase the customer base as customers are demanding for various flavour products and they are ready to spend money. The Indian eLiquid and eJuice market is analyzed by types – pre-filled eLiquid and bottled eLiquid; distribution channels – online, offline (retail), and others; demography – age group and sex; and location – tier 1 cities, and tier 2 cities.
Product Analysis: Pre-filled eLiquid is expected to reach $1,095.3 million by 2022 due to the growing demand for pre-filled eLiquid products in the market. In addition, the users often prefer refillable or replaceable eLiquid. The tier 1 cities segment is expected to play a major role in the market growth. The smokers in the age group of 24-45 years are primarily targeted by the eCigarette players.
Key Players: The eLiquid and eJuice market in India is expected to grow and value chain players are continuing to expand, bringing new innovative products, and rising M&A activities to gain the revenue in this market. Some of the players included in the report are ITC Limited, Japan Tobacco Inc., Altria Group Inc., Godfrey Philips India Ltd., Reynolds American Inc., and Foschia (R.R. Chemicals).
Benefits: The report provides complete details of industry trends about the eLiquid and eJuice market. The report provides business opportunities for various key stakeholders by providing an in-depth analysis of adoption and demand for eLiquid and eJuice. Some of the key points featured in the report aiming to help the industry participants are described below.
The report provides complete details about major trends, drivers, restraints, and opportunities in each industry vertical. This business information helps the key stakeholders to understand the current and future market outlook to focus/expand/invest in various types and distribution channels and can target specific demography to offer the eLiquid and eJuice market. Further, this report provides the complete details about the tier 1 cities and tier 2 cities.
Furthermore, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
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