U.S. E-liquid Market Size & Outlook, 2021-2027
U.S. e-liquid market, 2016-2027 (US$M)
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U.S. e-liquid market highlights
- The U.S. e-liquid market generated a revenue of USD 554.6 million in 2021 and is expected to reach USD 1,109.7 million by 2027.
- The U.S. market is expected to grow at a CAGR of 12.3% 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 2021 | USD 554.6 million |
| Market revenue in 2027 | USD 1,109.7 million |
| Growth rate | 12.3% (CAGR from 2021 to 2027) |
| Largest segment | Tobacco |
| Fastest growing segment | Menthol |
| Historical data | 2016 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Menthol, Tobacco, Dessert, Fruits & Nuts, Chocolate |
| Key market players worldwide | Invesco 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, U.S. accounted for 35.6% 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 North America, U.S. e-liquid market is projected to lead the regional market in terms of revenue in 2027.
- Canada is the fastest growing regional market in North America and is projected to reach USD 168.5 million by 2027.
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E-liquid Market Scope
E-liquid Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 31.91% in 2021. Horizon Databook has segmented the U.S. 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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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of U.S. e-liquid market databook
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Our clientele includes a mix of e-liquid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. e-liquid market, including forecasts for subscribers. This country databook contains high-level insights into U.S. e-liquid market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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U.S. e liquid market size, by flavor, 2016-2027 (US$M)
U.S. E-liquid Market Share, 2021 & 2027 (US$M)
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