The market for eLiquids encompasses various categories, including eJuice, eCigarettes, eFluids, vaporizer cigarettes, electronic nicotine delivery systems (ENDS), electronic non-nicotine delivery systems (ENNDS), and eCigs. eCigarettes, powered by battery devices that emit flavored vapor (nicotine optional) when inhaled, are gaining popularity in India as consumers transition from traditional cigarettes to the perceived healthier alternative of eCigarettes. Notably, eLiquids are considered 95% less harmful than conventional cigarettes.
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Market Analysis
Report Ocean Research projects a remarkable CAGR of 54.1% for the “Indian eLiquid and eJuice Market” during the forecast period from 2016 to 2022. This impressive growth can be attributed to several factors, including a burgeoning young population, evolving consumer lifestyles, changing preferences, and increased spending. Furthermore, innovation in product development, offering a variety of flavors, and meeting customer demands contribute to enhanced customer satisfaction and an expanding customer base. The market is analyzed based on types, including pre-filled eLiquid and bottled eLiquid; distribution channels, comprising online, offline (retail), and others; demography, including age group and gender; and location, encompassing tier 1 and tier 2 cities.
Product Analysis
Pre-filled eLiquid products are expected to reach $1,095.3 million by 2022, driven by growing demand. Users often prefer refillable or replaceable eLiquids. Tier 1 cities are anticipated to be key drivers of market growth. eCigarette players primarily target smokers aged 24-45 years.
Key Players
The eLiquid and eJuice market in India is poised for growth, with value chain players expanding and introducing innovative products. Increased M&A activities are also expected to bolster market revenues. Key players in the market include ITC Limited, Japan Tobacco Inc., Altria Group Inc., Godfrey Philips India Ltd., Reynolds American Inc., and Foschia (R.R. Chemicals).
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Benefits
This report offers comprehensive insights into industry trends related to the eLiquid and eJuice market, providing business opportunities for various stakeholders. Key points covered in the report include:
- Major trends, drivers, restraints, and opportunities within the industry.
- Detailed information about tier 1 and tier 2 cities.
- Strategic intelligence on competition.
- Competitive landscape analysis of leading players specific to the eLiquid and eJuice market.
The report can also be customized to meet specific information requirements, focusing on distribution channels, vendor profiles, and tier cities.
Region/Country Coverage in the Report
- India
Key Players Covered in the Report
- ITC Limited
- Japan Tobacco Inc.
- Altria Group Inc.
- Godfrey Philips India Ltd.
- Philip Morris International Management SA (PMI)
- Reynolds American Inc.
- Green Vapo
- Litejoy International Pvt. Ltd
- Pure Vapors
- SPK Consumer Solutions Pvt. Ltd
- Shenzhen Joyetech Co., Ltd
- Foschia (R.R. Chemicals)
- Foschia (R.R. Chemicals)
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