Indian eLiquid and eJuice Market to grow at a CAGR of 54.1% during the forecast period 2016–2022 to aggregate $1,319.6 million by 2022
Increasing demand for pre-filled eLiquid is expected to drive the Indian eLiquid and eJuice market. The offline distribution channel is expected to grow at a CAGR of 54.4% and reach $1,042.5 million by 2022.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Indian eLiquid and eJuice Market – Drivers, Opportunities, Trends, and Forecasts: 2016–2022” (December 2016).
According to Infoholic Research, in India, eCigarette business is at a nascent stage and it has been proved that eCigarette is 95% less harmful than a normal cigarette. The increasing young population, changing consumer’s lifestyle, changing demands, and spending activities have led the demand for eLiquids and eJuice in India. The convenience stores prove to be a more reliable profit generator and one of the key elements for eLiquid and eJuice market growth. There are a lot of government rules and regulations related to cigarettes. The government has banned cigarette sales in most of the cities and has made it mandatory to mention 85% warning on cigarette packs, which may impact the market growth. In the current market scenario, less than 1% of the traditional smokers are moving towards the e-cigarettes and the e-cigarettes smoker’s percentage is expected to increase in the upcoming years. The market is expected to grow at a CAGR of 54.1% during the forecast period 2016–2022 to touch an aggregate of $1,319.6 million by 2022.
The Indian eLiquid and eJuice market is analyzed based on product type, distribution channels, location, and demography. The major share of the revenue comes from pre-filled eLiquid as the users often prefer refillable or replaceable eLiquid.
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The growth in the product types segment has led to the overall growth of market with the bottled eLiquid market predicted to reach $224.3 million by 2022 from $19.5 million in 2016, growing at a CAGR of 50.2%.
The distributed channel segment includes online, offline and others. The offline distribution channel market is expected to touch $1,042.5 million by 2022. Most of the smokers are likely to purchase the products in the offline mode – retail outlets, vape shops, convenience stores due to the easy availability of the products. But, smokers need to take care of the quality of the products before purchasing.
At present, Tier 1 cities hold the majority of the eLiquid and eJuice market share. In demography segment, 24–35 years’ age group and 36–45 years’ age group hold the majority of the share and male smokers segment are expected to reach $771.2 million by 2022. The smokers in the age group of 24–45 years can smoke any kind of tobacco products as they are likely to spend money and adopt to the changing lifestyle and rising stress level, especially the working population. The above-mentioned age group is the primary focus for eLiquid and eJuice products because of product awareness and availability of higher disposable income, among others.
“The eLiquid and eJuice are less harmful when compared to traditional cigarettes. The state governments’ rules & regulations and huge tax are considered the key challenges for the market growth. Further, awareness programs about the eCigarette are expected to lead the market in the near future.” – Tariq Ahmed. Shaik, Research Manager at Infoholic Research
“Currently, Indian eLiquid and eJuice market is at a nascent stage and is expected to grow in the upcoming years. The tobacco providers can consider this market as new revenue streams in order to increase their product categories.” – Bhavya H, Senior Research Analyst at Infoholic Research
The report aims to highlight the eLiquid and eJuice market overview and key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum (challenges and barriers to adopting eLiquid and eJuice) but also brings in their perspective on the Indian eLiquid and eJuice market
- The market has been analyzed by taking into account the tier 1 cities and tier 2 cities
- The eLiquid and eJuice market report analyzes the market according to types, distribution channels, demography, and location
- The report analyzes the top 12 players in terms of market reach, business strategy, and business focus
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations are covered in eLiquid and eJuice market report
- Stakeholders’ insights and key trends (current and future) of the market
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