An extensive study offering forecast assessment on Indian eLiquid and eJuice Market has recently been released by Kenneth research, which is a platform containing market research reports on FMCG, food and beverages. Kenneth Research aims to provide quality reports to its customers and help company investors planning for expansion of their business to take key decisions and form strategies by providing insights with the latest market trends and scope that helps them gain an extra edge over competitiveness in the marketplace.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Indian eLiquid and eJuice Market products.
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Overview:
eLiquids 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).
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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.
The report gives an opportunity to the players to improve their current business approach by providing strategic intelligence about the competition.
The report also provides the competitive landscape of the leading players specific to eLiquid and eJuice market that helps them to understand about their competitor’s landscape.
The report can also be tailored as per the specific info required by the users. The customization of the report is available on the basis of distribution channels, vendor profiles, and tier cities.
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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