Latin America E-liquid Market Size & Outlook, 2021-2027

The e-liquid market in Latin America is expected to reach a projected revenue of US$ 162.4 million by 2027. A compound annual growth rate of 13.2% is expected of Latin America e-liquid market from 2022 to 2027.
Revenue, 2021 (US$M)
$77.3
Forecast, 2027 (US$M)
$162.4
CAGR, 2022 - 2027
13.2%
Report Coverage
Latin America

Latin America e-liquid market highlights

  • The Latin America e-liquid market generated a revenue of USD 77.3 million in 2021.
  • The market is expected to grow at a CAGR of 13.2% 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.
  • Country-wise, Brazil is expected to register the highest CAGR from 2022 to 2027.


Latin America data book summary

Market revenue in 2021USD 77.3 million
Market revenue in 2027USD 162.4 million
Growth rate13.2% (CAGR from 2021 to 2027)
Largest segmentTobacco
Fastest growing segmentMenthol
Historical data covered2016 - 2020
Base year for estimation2021
Forecast period covered2022 - 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, Latin America region accounted for 5.0% of the global e-liquid market in 2021.
  • Globally, North America is projected to lead the regional market in terms of revenue in 2027.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 639.4 million by 2027.

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E-liquid Market Companies

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Latin America 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 31.69% in 2021. Horizon Databook has segmented the Latin America 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America e-liquid market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America e-liquid market from 2016 to 2027, including revenue numbers, major trends, and company profiles.

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Latin America e liquid market size, by country, 2016-2027 (US$M)

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

Latin America e liquid market size, by country, 2016-2027 (US$M)

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