China E-liquid Market Size & Outlook, 2021-2027

The e-liquid market in China is expected to reach a projected revenue of US$ 231.5 million by 2027. A compound annual growth rate of 14.4% is expected of China e-liquid market from 2022 to 2027.
Revenue, 2021 (US$M)
$103.2
Forecast, 2027 (US$M)
$231.5
CAGR, 2022 - 2027
14.4%
Report Coverage
China

China e-liquid market highlights

  • The China e-liquid market generated a revenue of USD 103.2 million in 2021 and is expected to reach USD 231.5 million by 2027.
  • The China market is expected to grow at a CAGR of 14.4% from 2022 to 2027.
  • In terms of segment, tobacco was the largest revenue generating flavor in 2021.
  • Menthol is the most lucrative flavor segment registering the fastest growth during the forecast period.


E-liquid market data book summary

Market revenue in 2021USD 103.2 million
Market revenue in 2027USD 231.5 million
Growth rate14.4% (CAGR from 2021 to 2027)
Largest segmentTobacco
Fastest growing segmentMenthol
Historical data2016 - 2020
Base year2021
Forecast period2022 - 2027
Quantitative unitsRevenue in USD million
Market segmentationMenthol, Tobacco, Dessert, Fruits & Nuts, Chocolate
Key market players worldwideInvesco BulletShares 2032 Muncpl Bd ETF, Vapor Group Inc, Molecule Holdings Inc Ordinary Shares, Philip Morris International Inc, Black Note, Breazy, Crystal Canyon Vapes, Nicopure Labs, VMR Products


Other key industry trends

  • In terms of revenue, China accounted for 6.6% of the global e-liquid market in 2021.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
  • In Asia Pacific, China e-liquid market is projected to lead the regional market in terms of revenue in 2027.
  • Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 103.8 million by 2027.

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E-liquid Market Companies

Name Profile # Employees HQ Website

China e-liquid market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to e-liquid market will help companies and investors design strategic landscapes.


Tobacco was the largest segment with a revenue share of 31.59% in 2021. Horizon Databook has segmented the China e-liquid market based on menthol, tobacco, dessert, fruits & nuts, chocolate covering the revenue growth of each sub-segment from 2016 to 2027.


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Target buyers of China e-liquid market databook

  • Our clientele includes a mix of e-liquid market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China e-liquid market, including forecasts for subscribers. This country databook contains high-level insights into China e-liquid market from 2016 to 2027, including revenue numbers, major trends, and company profiles.

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China e liquid market size, by flavor, 2016-2027 (US$M)

China E-liquid Market Share, 2021 & 2027 (US$M)

China e liquid market size, by flavor, 2016-2027 (US$M)

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