E-Liquid Market

E-Liquid Market (Base: PG & VG, Vegetable Glycerin, Propylene Glycol; Sales Channel: Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Independent Small Groceries, Online Retail; Flavor: Original Tobacco, Mint & Menthol, Fruits & Candy, Chocolate, Dessert, Other Flavors) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027

E-Liquid Market Players Collaborate with Research Scientists to Meet Safety Standards

Stakeholders in the e-liquid market are experiencing a shift in consumer preferences, from conventional smoking to vaping and e-cigarettes. However, a lot of consumers are also concerned about the toxicity of the e-liquids that are infused with flavors in vaporizers and e-cigarettes.

To make sure e-liquids are safe for consumption in e-cigarettes, manufacturers are collaborating with research scientists to improve on the safety standards. In 2018, original tobacco flavor was the preferred choice amongst consumers, with a revenue of ~US$ 567 million in the market. However, analysts at Transparency Market Research (TMR) anticipate a shift in consumer preferences, as fruit and candy flavor is projected to account for the highest revenue amongst all the flavors in the e-liquid market, with a revenue of ~US$ 1.6 billion in the year 2027.

Thus, stakeholders in the e-liquid market are increasing research on Genomic Allergen Rapid Detection (GARD) assays to meet the required standards in e-liquid flavorings and their ingredients. This first-of-its-kind research is helping manufacturers in the e-liquid market to assess the sensitization of potential compounds in vaping-related applications.

e liquid market infographic

Consumers Catch Up on the Trend of Eco-friendly Vaping

The growing trend of vaping and e-cigarettes has contributed to reducing the environmental footprint. Since e-liquids are increasingly used in vaporizers and e-cigarettes, manufacturers in the e-liquid market are capitalizing on the trend of eco-friendly vaping, which is grabbing consumer attention.

Eco-friendly vaping is an evident trend, as it eliminates the environmental load of disposing enormous volumes of discarded cigarette butts. Also, eco-friendly vaping reduces the issue of deforestation, and reduces the degradation caused to the environment due to the cultivation of tobacco. Vaping has provided smokers with a considerable amount of advantages as compared to traditional smoking. It has also helped smokers reduce the intake of tar and nicotine, which has led many smokers partially or completely quitting smoking. These health benefits are triggering the demand for liquid nicotine in the e-liquid market.

In case the e-liquid needs to be disposed off, consumers can indulge in the sustainable disposal of these e-liquids by re-gifting them to friends or family members. Other ways of disposal include the use of absorbent materials such as sawdust, coconut pith, or wood chippings to soak up the e-liquid, before putting it in a biodegradable bag and throwing it in a secure bin. 

Premarket Authorization Helps Comply with Stringent Regulations

Vaping and e-cigarettes have provided health advantages to smokers. However, it is still debatable if e-liquids are absolutely safe for consumption. In many cases, the chemicals in e-liquids are unknown to consumers, as these e-liquid bottle come in contact with other ingredients that result in the development of toxic chemicals. Manufacturers in the e-liquid market are often questioned by customers about the adverse effects of flavors mixed with propylene glycol (PG) found in vape juices.

To overcome these hurdles, manufacturers in the e-liquid market are selling vape juices after seeking FDA (Food and Drug Administration) premarket authorization. Manufacturers are creating increased awareness amongst youth about the regulatory norms by mentioning them on vaping products. Since the FDA has issued a list of safe flavors, manufacturers in the e-liquid landscape can capitalize on this opportunity to incorporate these flavors in the production of improved e-liquids.

e liquid market segmentation

Analysts’ Viewpoint on E-Liquid Market

The e-liquid market is projected for a striking CAGR of ~16% during the forecast period. Likewise, online retail is estimated for the highest revenue amongst all sales channels in 2027, with a value of ~US$ 657 million. This correlation between the market and online sales channel has triggered the revenue growth of e-liquids. Market players are planning and executing eye-grabbing online advertising campaigns that catch the attention of youth, as vaping is growing as a trend in the widespread social media influencer community. However, key e-liquid market players are suffering due to unscrupulous suppliers who unethically package e-liquids in boxes that resemble juice, candy, and cookie products. As such, premarket authorization has emerged as a solution to the unethical selling of e-liquids. Thus, manufacturers should not just focus on North America, but also expand their business in fast-growth regions such as Europe and Asia Pacific. 

E-liquid Market: Overview

  • According to Transparency Market Research’s latest market report on the e-Liquid market for the historical period of 2013-2018 and forecast period of 2019-2027, the global e-liquid market is projected to be valued at ~US$ 2.1 Bn in 2019, and is forecasted to reach ~US$ 7 Bn by 2027, growing at a CAGR of ~16%.
  • E-liquid, also called e-juice or vape-juice, is the liquid blend of nicotine, flavoring agent, and base liquid, which is used in e-cigarettes and heated to vapor. Using e-liquid does not produce smoke, and hence, also prevents secondhand smoking. The nicotine is extracted from tobacco leaves, and is superior as compared to traditional tobacco.
  • Various flavors used in e-liquid impart an enhanced mouthfeel and refreshment feeling. Due to the absence of the burning process of tobacco as in traditional tobacco smoking, e-liquid smoking enables inhaling lower levels of toxic substances, as such, reducing the risk of lung disorders.
  • Most e-liquid products consist of water, propylene glycol, flavoring, and nicotine. However, some manufacturers are also introducing e-liquids without nicotine, targeting the non-smoking group of consumers.
  • All these factors are anticipated to fuel the growth of the global e-liquid market over the forecast period. 

Advancements in Pod Vaping Technology Positively Impacting E-liquid Market  

  • Pod vaping has emerged as the biggest trend, with new pod vape devices being produced by manufacturers, catalyzing the consumption of e-liquid. With new expertise, companies are aiming to develop new smaller pod vape devices that are compressed and sleek, designed to be healthier and easy to use. High stability, extended battery life, convenient to carry anywhere, and lightweight are the key emphasis areas of pod vape manufacturers. 

E-Liquid Emerging as Solution to Reduce Smoking

  • E-Liquid in the form of pod vapes, vape mods, and vape pens is gaining popularity as a safe alternative to conventional cigarettes. In recent years, the demand for vape pods has increased among young adults, being regarded as technically safe as compared to cigarettes. Additionally, they don’t produce smoke, thereby cutting down on secondhand smoking effects. E-Liquid manufacturers are focusing on new product launches with low nicotine quantity, across regions, to comply with new regulations and increase their sales. As nicotine is one of the most addictive substances, e-liquid is emerging as a useful tool for smokers. 

E-Liquid Market: Nicotine Salts Emerging as Biggest Vaping Trend

  • Nicotine salts are gaining traction in vaping products over conventional nicotine. Nicotine salts, unlike conventional nicotine, do not use additives or chemicals to extract nicotine. Instead, juice manufacturers take the natural salt from tobacco leaves for their e-juices.
  • Vaping product manufacturers are also creating many variations of compact and easy-to-use salt nicotine devices. Vape juice companies are launching nicotine salt e-liquid, offering various advantages such as delivering more nicotine in a single puff, allowing a person to vape on higher concentration without feeling a burning sensation in the throat, and providing a sensation similar to smoking. As such, the demand for nicotine salt is growing constantly.
  • Moreover, with the increasing number of vape devices, including pod vapes and vape pens, the demand for nicotine salts, and in turn, e-liquid, is increasing. 

Usage of Naturally-derived Products a Big Asset to E-Liquid Market

  • E-liquid is made by the natural extraction method, which is boosting its popularity in the market, as natural and plant-derived products are sought-after by many consumers these days. Moreover, e-liquids are made from vegetable glycerin, and are free from chemicals such as diacetyl, acetyl propionyl, ethylene glycol, diethylene glycol, and acrolein or acetoin, which are present in traditional cigarettes and cause various health issues.
  • E-liquids are free from any chemical additives or sweeteners, and provide consumers the pure taste of nicotine made from natural nicotine leaves. 

E-Liquid Market: Key Players

  • Key players in the global e-liquid market are
    • VMR Products LLC
    • Mig Vapor LLC
    • VaporFi, Inc.
    • Black Note
    • Nicopure Labs LLC
    • VistaVapors, Inc.
    • ZampleBox, LLC.
    • Fuggin Vapor Co.
    • Silver Laboratories (Basix eLiqiuids)
    • Humble Juice Co.
    • USA Vape Labe
    • Savage Enterprises, LLC.
    • Mr. Macaron Vapes Corporation
    • Mt baker Vapor
    • Smax Holdings LLC (Smax E-Liquids)
    • BSMW Ltd.
    • VapeWild
    • Molecule Labs, Inc.
    • Vapor Labs
    • Dynamic Creations. 

E-Liquid Market: Key Developments

  • Some of the key developments seen in the e-liquid market in the past few years are as follows:
    • In August 2016, Flavors & More introduced new premium e-liquid products - Cypher, Hawkeye, and iGen, in the premium category.
    • In December 2018, British American Tobacco Company launched new products for vaping, with the incorporation of the new Puretech blade technology. The products unveiled were Vype iSwitch and Vype iSwicth Maxx. The technology is upgraded with the use of ulta-slim stainless-steel blades for the heating of e-liquid, instead of a coil and wick, enhancing overall functionality.

Key Segments of the E-Liquid Market 

TMR’s study on the e-liquid market offers information divided into important segments-by base, by sales channel, by flavor, and by region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Base

  • PG & VG
  • Vegetable Glycerin
  • Propylene Glycol

Sales Channel

  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Independent Small Groceries
  • Online Retail

Flavor

  • Original Tobacco
  • Mint & Menthol
  • Fruits & Candy
  • Chocolate
  • Dessert
  • Other Flavors

Region

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan

    1. Global E-Liquid Market - Executive Summary

    2. Global E-Liquid Market Overview

        2.1. Introduction

            2.1.1. Global E-Liquid Market Taxonomy

            2.1.2. Global E-Liquid Market Definition

        2.2. Global E-Liquid Market Size (US$ Mn & Volume) and Forecast, 2013-2027

            2.2.1. Global E-Liquid Market Y-o-Y Growth

        2.3. Global E-Liquid Market Dynamics

        2.4. Supply Chain

        2.5. Pricing Analysis 

        2.6. Raw Material Sourcing Strategy and Analysis

        2.7. Service Provider List

        2.8. Key Participants Market Presence (Intensity Map) By Region

    3. Global E-Liquid Market Analysis and Forecast 2013-2027 

        3.1. Global E-Liquid Market Size and Forecast By Base Type  , 2013-2027

            3.1.1. PG and VG Market Size and Forecast, 2013-2027

                3.1.1.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.1.1.2. Market Share Comparison, By Region

                3.1.1.3. Y-o-Y growth Comparison, By Region

            3.1.2. Vegetable Glycerine (VG) Market Size and Forecast, 2013-2027

                3.1.2.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.1.2.2. Market Share Comparison, By Region

                3.1.2.3. Y-o-Y growth Comparison, By Region

            3.1.3. Propylene Glycol (PG) Market Size and Forecast, 2013-2027

                3.1.3.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.1.3.2. Market Share Comparison, By Region

                3.1.3.3. Y-o-Y growth Comparison, By Region

        3.2. Global E-Liquid Market Size and Forecast By Flavor, 2013-2027

            3.2.1. Original Tobacco Market Size and Forecast, 2013-2027

                3.2.1.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.1.2. Market Share Comparison, By Region

                3.2.1.3. Y-o-Y growth Comparison, By Region

            3.2.2. Mint & Menthol Market Size and Forecast, 2013-2027

                3.2.2.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.2.2. Market Share Comparison, By Region

                3.2.2.3. Y-o-Y growth Comparison, By Region

            3.2.3. Fruits & Candy Market Size and Forecast, 2013-2027

                3.2.3.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.3.2. Market Share Comparison, By Region

                3.2.3.3. Y-o-Y growth Comparison, By Region

            3.2.4. Chocolate Market Size and Forecast, 2013-2027

                3.2.4.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.4.2. Market Share Comparison, By Region

                3.2.4.3. Y-o-Y growth Comparison, By Region

            3.2.5. Dessert Market Size and Forecast, 2013-2027

                3.2.5.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.5.2. Market Share Comparison, By Region

                3.2.5.3. Y-o-Y growth Comparison, By Region

            3.2.6. Other Flavors  Market Size and Forecast, 2013-2027

                3.2.6.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.2.6.2. Market Share Comparison, By Region

                3.2.6.3. Y-o-Y growth Comparison, By Region

        3.3. Global E-Liquid Market Size and Forecast By Sales Channel , 2013-2027

            3.3.1. Hypermarkets/Supermarkets Market Size and Forecast, 2013-2027

                3.3.1.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.3.1.2. Market Share Comparison, By Region

                3.3.1.3. Y-o-Y growth Comparison, By Region

            3.3.2. Convenience Stores Market Size and Forecast, 2013-2027

                3.3.2.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.3.2.2. Market Share Comparison, By Region

                3.3.2.3. Y-o-Y growth Comparison, By Region

            3.3.3. Specialty Stores Market Size and Forecast, 2013-2027

                3.3.3.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.3.3.2. Market Share Comparison, By Region

                3.3.3.3. Y-o-Y growth Comparison, By Region

            3.3.4. Independent Small Groceries Market Size and Forecast, 2013-2027

                3.3.4.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.3.4.2. Market Share Comparison, By Region

                3.3.4.3. Y-o-Y growth Comparison, By Region

            3.3.5. Online Retail Market Size and Forecast, 2013-2027

                3.3.5.1. Revenue (US$ Mn) & Volume Comparison, By Region

                3.3.5.2. Market Share Comparison, By Region

                3.3.5.3. Y-o-Y growth Comparison, By Region

    4. North America E-Liquid Market Size and Forecast, 2013-2027

        4.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        4.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        4.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        4.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    5. Latin America E-Liquid Market Size and Forecast, 2013-2027

        5.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        5.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        5.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        5.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    6. Europe E-Liquid Market Size and Forecast, 2013-2027

        6.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        6.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        6.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        6.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    7. Japan E-Liquid Market Size and Forecast, 2013-2027

        7.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        7.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        7.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        7.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    8. APEJ E-Liquid Market Size and Forecast, 2013-2027

        8.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        8.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        8.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        8.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    9. MEA E-Liquid Market Size and Forecast, 2013-2027

        9.1. Revenue (US$ Mn) & Volume Comparison, By Country 

        9.2. Revenue (US$ Mn) & Volume Comparison, By Base Type   

        9.3. Revenue (US$ Mn) & Volume Comparison, By Flavor 

        9.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel  

    10. Global E-Liquid Market Company Share, Competition Landscape and Company Profiles

        10.1. Company Share Analysis

        10.2. Competition Landscape

        10.3. Company Profiles

            10.3.1. VMR Products LLC

                10.3.1.1. Overview

                10.3.1.2. Product Portfolio

                10.3.1.3. Sales Footprint

                10.3.1.4. Channel Footprint

                    10.3.1.4.1. Distributors List

                    10.3.1.4.2. Sales Channel (Clients)

                10.3.1.5. Strategy Overview

                    10.3.1.5.1. Marketing Strategy

                    10.3.1.5.2. Culture Strategy

                    10.3.1.5.3. Channel Strategy

                10.3.1.6. SWOT Analysis

                10.3.1.7. Financial Analysis

                10.3.1.8. Revenue Share

                10.3.1.9. Key Clients

                10.3.1.10. Analyst Comment

            10.3.2. Mig Vapor LLC

                10.3.2.1. Overview

                10.3.2.2. Product Portfolio

                10.3.2.3. Sales Footprint

                10.3.2.4. Channel Footprint

                    10.3.2.4.1. Distributors List

                    10.3.2.4.2. Sales Channel (Clients)

                10.3.2.5. Strategy Overview

                    10.3.2.5.1. Marketing Strategy

                    10.3.2.5.2. Culture Strategy

                    10.3.2.5.3. Channel Strategy

                10.3.2.6. SWOT Analysis

                10.3.2.7. Financial Analysis

                10.3.2.8. Revenue Share

                10.3.2.9. Key Clients

                10.3.2.10. Analyst Comment

            10.3.3. VaporFi, Inc.

                10.3.3.1. Overview

                10.3.3.2. Product Portfolio

                10.3.3.3. Sales Footprint

                10.3.3.4. Channel Footprint

                    10.3.3.4.1. Distributors List

                    10.3.3.4.2. Sales Channel (Clients)

                10.3.3.5. Strategy Overview

                    10.3.3.5.1. Marketing Strategy

                    10.3.3.5.2. Culture Strategy

                    10.3.3.5.3. Channel Strategy

                10.3.3.6. SWOT Analysis

                10.3.3.7. Financial Analysis

                10.3.3.8. Revenue Share

                10.3.3.9. Key Clients

                10.3.3.10. Analyst Comment

            10.3.4. Black Note

                10.3.4.1. Overview

                10.3.4.2. Product Portfolio

                10.3.4.3. Sales Footprint

                10.3.4.4. Channel Footprint

                    10.3.4.4.1. Distributors List

                    10.3.4.4.2. Sales Channel (Clients)

                10.3.4.5. Strategy Overview

                    10.3.4.5.1. Marketing Strategy

                    10.3.4.5.2. Culture Strategy

                    10.3.4.5.3. Channel Strategy

                10.3.4.6. SWOT Analysis

                10.3.4.7. Financial Analysis

                10.3.4.8. Revenue Share

                10.3.4.9. Key Clients

                10.3.4.10. Analyst Comment

            10.3.5. Nicopure Labs LLC

                10.3.5.1. Overview

                10.3.5.2. Product Portfolio

                10.3.5.3. Sales Footprint

                10.3.5.4. Channel Footprint

                    10.3.5.4.1. Distributors List

                    10.3.5.4.2. Sales Channel (Clients)

                10.3.5.5. Strategy Overview

                    10.3.5.5.1. Marketing Strategy

                    10.3.5.5.2. Culture Strategy

                    10.3.5.5.3. Channel Strategy

                10.3.5.6. SWOT Analysis

                10.3.5.7. Financial Analysis

                10.3.5.8. Revenue Share

                10.3.5.9. Key Clients

                10.3.5.10. Analyst Comment

            10.3.6. VistaVapors, Inc.

                10.3.6.1. Overview

                10.3.6.2. Product Portfolio

                10.3.6.3. Sales Footprint

                10.3.6.4. Channel Footprint

                    10.3.6.4.1. Distributors List

                    10.3.6.4.2. Sales Channel (Clients)

                10.3.6.5. Strategy Overview

                    10.3.6.5.1. Marketing Strategy

                    10.3.6.5.2. Culture Strategy

                    10.3.6.5.3. Channel Strategy

                10.3.6.6. SWOT Analysis

                10.3.6.7. Financial Analysis

                10.3.6.8. Revenue Share

                10.3.6.9. Key Clients

                10.3.6.10. Analyst Comment

            10.3.7. ZampleBox, LLC.

                10.3.7.1. Overview

                10.3.7.2. Product Portfolio

                10.3.7.3. Sales Footprint

                10.3.7.4. Channel Footprint

                    10.3.7.4.1. Distributors List

                    10.3.7.4.2. Sales Channel (Clients)

                10.3.7.5. Strategy Overview

                    10.3.7.5.1. Marketing Strategy

                    10.3.7.5.2. Culture Strategy

                    10.3.7.5.3. Channel Strategy

                10.3.7.6. SWOT Analysis

                10.3.7.7. Financial Analysis

                10.3.7.8. Revenue Share

                10.3.7.9. Key Clients

                10.3.7.10. Analyst Comment

            10.3.8. Fuggin Vapor Co.

                10.3.8.1. Overview

                10.3.8.2. Product Portfolio

                10.3.8.3. Sales Footprint

                10.3.8.4. Channel Footprint

                    10.3.8.4.1. Distributors List

                    10.3.8.4.2. Sales Channel (Clients)

                10.3.8.5. Strategy Overview

                    10.3.8.5.1. Marketing Strategy

                    10.3.8.5.2. Culture Strategy

                    10.3.8.5.3. Channel Strategy

                10.3.8.6. SWOT Analysis

                10.3.8.7. Financial Analysis

                10.3.8.8. Revenue Share

                10.3.8.9. Key Clients

                10.3.8.10. Analyst Comment

            10.3.9. Silver Laboratories (Basix eLiqiuids)

                10.3.9.1. Overview

                10.3.9.2. Product Portfolio

                10.3.9.3. Sales Footprint

                10.3.9.4. Channel Footprint

                    10.3.9.4.1. Distributors List

                    10.3.9.4.2. Sales Channel (Clients)

                10.3.9.5. Strategy Overview

                    10.3.9.5.1. Marketing Strategy

                    10.3.9.5.2. Culture Strategy

                    10.3.9.5.3. Channel Strategy

                10.3.9.6. SWOT Analysis

                10.3.9.7. Financial Analysis

                10.3.9.8. Revenue Share

                10.3.9.9. Key Clients

                10.3.9.10. Analyst Comment

            10.3.10. Humble Juice Co.

                10.3.10.1. Overview

                10.3.10.2. Product Portfolio

                10.3.10.3. Sales Footprint

                10.3.10.4. Channel Footprint

                    10.3.10.4.1. Distributors List

                    10.3.10.4.2. Sales Channel (Clients)

                10.3.10.5. Strategy Overview

                    10.3.10.5.1. Marketing Strategy

                    10.3.10.5.2. Culture Strategy

                    10.3.10.5.3. Channel Strategy

                10.3.10.6. SWOT Analysis

                10.3.10.7. Financial Analysis

                10.3.10.8. Revenue Share

                10.3.10.9. Key Clients

                10.3.10.10. Analyst Comment

            10.3.11. USA Vape Labe

                10.3.11.1. Overview

                10.3.11.2. Product Portfolio

                10.3.11.3. Sales Footprint

                10.3.11.4. Channel Footprint

                    10.3.11.4.1. Distributors List

                    10.3.11.4.2. Sales Channel (Clients)

                10.3.11.5. Strategy Overview

                    10.3.11.5.1. Marketing Strategy

                    10.3.11.5.2. Culture Strategy

                    10.3.11.5.3. Channel Strategy

                10.3.11.6. SWOT Analysis

                10.3.11.7. Financial Analysis

                10.3.11.8. Revenue Share

                10.3.11.9. Key Clients

                10.3.11.10. Analyst Comment

            10.3.12. Savage Enterprises, LLC.

                10.3.12.1. Overview

                10.3.12.2. Product Portfolio

                10.3.12.3. Sales Footprint

                10.3.12.4. Channel Footprint

                    10.3.12.4.1. Distributors List

                    10.3.12.4.2. Sales Channel (Clients)

                10.3.12.5. Strategy Overview

                    10.3.12.5.1. Marketing Strategy

                    10.3.12.5.2. Culture Strategy

                    10.3.12.5.3. Channel Strategy

                10.3.12.6. SWOT Analysis

                10.3.12.7. Financial Analysis

                10.3.12.8. Revenue Share

                10.3.12.9. Key Clients

                10.3.12.10. Analyst Comment

            10.3.13. Mr. Macaron Vapes Corporation

                10.3.13.1. Overview

                10.3.13.2. Product Portfolio

                10.3.13.3. Sales Footprint

                10.3.13.4. Channel Footprint

                    10.3.13.4.1. Distributors List

                    10.3.13.4.2. Sales Channel (Clients)

                10.3.13.5. Strategy Overview

                    10.3.13.5.1. Marketing Strategy

                    10.3.13.5.2. Culture Strategy

                    10.3.13.5.3. Channel Strategy

                10.3.13.6. SWOT Analysis

                10.3.13.7. Financial Analysis

                10.3.13.8. Revenue Share

                10.3.13.9. Key Clients

                10.3.13.10. Analyst Comment

            10.3.14. Mt baker Vapor

                10.3.14.1. Overview

                10.3.14.2. Product Portfolio

                10.3.14.3. Sales Footprint

                10.3.14.4. Channel Footprint

                    10.3.14.4.1. Distributors List

                    10.3.14.4.2. Sales Channel (Clients)

                10.3.14.5. Strategy Overview

                    10.3.14.5.1. Marketing Strategy

                    10.3.14.5.2. Culture Strategy

                    10.3.14.5.3. Channel Strategy

                10.3.14.6. SWOT Analysis

                10.3.14.7. Financial Analysis

                10.3.14.8. Revenue Share

                10.3.14.9. Key Clients

                10.3.14.10. Analyst Comment

            10.3.15. Smax Holdings LLC (Smax E-Liquids)

                10.3.15.1. Overview

                10.3.15.2. Product Portfolio

                10.3.15.3. Sales Footprint

                10.3.15.4. Channel Footprint

                    10.3.15.4.1. Distributors List

                    10.3.15.4.2. Sales Channel (Clients)

                10.3.15.5. Strategy Overview

                    10.3.15.5.1. Marketing Strategy

                    10.3.15.5.2. Culture Strategy

                    10.3.15.5.3. Channel Strategy

                10.3.15.6. SWOT Analysis

                10.3.15.7. Financial Analysis

                10.3.15.8. Revenue Share

                10.3.15.9. Key Clients

                10.3.15.10. Analyst Comment

            10.3.16. BSMW Ltd.

                10.3.16.1. Overview

                10.3.16.2. Product Portfolio

                10.3.16.3. Sales Footprint

                10.3.16.4. Channel Footprint

                    10.3.16.4.1. Distributors List

                    10.3.16.4.2. Sales Channel (Clients)

                10.3.16.5. Strategy Overview

                    10.3.16.5.1. Marketing Strategy

                    10.3.16.5.2. Culture Strategy

                    10.3.16.5.3. Channel Strategy

                10.3.16.6. SWOT Analysis

                10.3.16.7. Financial Analysis

                10.3.16.8. Revenue Share

                10.3.16.9. Key Clients

                10.3.16.10. Analyst Comment

            10.3.17. VapeWild

                10.3.17.1. Overview

                10.3.17.2. Product Portfolio

                10.3.17.3. Sales Footprint

                10.3.17.4. Channel Footprint

                    10.3.17.4.1. Distributors List

                    10.3.17.4.2. Sales Channel (Clients)

                10.3.17.5. Strategy Overview

                    10.3.17.5.1. Marketing Strategy

                    10.3.17.5.2. Culture Strategy

                    10.3.17.5.3. Channel Strategy

                10.3.17.6. SWOT Analysis

                10.3.17.7. Financial Analysis

                10.3.17.8. Revenue Share

                10.3.17.9. Key Clients

                10.3.17.10. Analyst Comment

            10.3.18. Molecule Labs, Inc.

                10.3.18.1. Overview

                10.3.18.2. Product Portfolio

                10.3.18.3. Sales Footprint

                10.3.18.4. Channel Footprint

                    10.3.18.4.1. Distributors List

                    10.3.18.4.2. Sales Channel (Clients)

                10.3.18.5. Strategy Overview

                    10.3.18.5.1. Marketing Strategy

                    10.3.18.5.2. Culture Strategy

                    10.3.18.5.3. Channel Strategy

                10.3.18.6. SWOT Analysis

                10.3.18.7. Financial Analysis

                10.3.18.8. Revenue Share

                10.3.18.9. Key Clients

                10.3.18.10. Analyst Comment

            10.3.19. Vapour Labs

                10.3.19.1. Overview

                10.3.19.2. Product Portfolio

                10.3.19.3. Sales Footprint

                10.3.19.4. Channel Footprint

                    10.3.19.4.1. Distributors List

                    10.3.19.4.2. Sales Channel (Clients)

                10.3.19.5. Strategy Overview

                    10.3.19.5.1. Marketing Strategy

                    10.3.19.5.2. Culture Strategy

                    10.3.19.5.3. Channel Strategy

                10.3.19.6. SWOT Analysis

                10.3.19.7. Financial Analysis

                10.3.19.8. Revenue Share

                10.3.19.9. Key Clients

                10.3.19.10. Analyst Comment

            10.3.20. Dynamic Creations

                10.3.20.1. Overview

                10.3.20.2. Product Portfolio

                10.3.20.3. Sales Footprint

                10.3.20.4. Channel Footprint

                    10.3.20.4.1. Distributors List

                    10.3.20.4.2. Sales Channel (Clients)

                10.3.20.5. Strategy Overview

                    10.3.20.5.1. Marketing Strategy

                    10.3.20.5.2. Culture Strategy

                    10.3.20.5.3. Channel Strategy

                10.3.20.6. SWOT Analysis

                10.3.20.7. Financial Analysis

                10.3.20.8. Revenue Share

                10.3.20.9. Key Clients

                10.3.20.10. Analyst Comment

    11. Research Methodology

    12. Secondary and Primary Sources

    13. Assumptions and Acronyms

    14. Disclaimer

    TABLE 1: Global E-Liquid Market Value (US$ Mn) & Volume, 2013-2018

    TABLE 2: Global E-Liquid Market Value (US$ Mn) & Volume, 2019-2027

    TABLE 3: Global E-Liquid Market Value (US$ Mn) & Volume and Y-o-Y, 2018-2027

    TABLE 4: Global PG and VG Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 5: Global PG and VG Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 6: Global PG and VG Segment Market Share, By Region 2013-2018

    TABLE 7: Global PG and VG Segment Market Share, By Region 2019-2027

    TABLE 8: Global PG and VG Segment Y-o-Y, By Region 2018-2027

    TABLE 9: Global Vegetable Glycerine (VG) Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 10: Global Vegetable Glycerine (VG) Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 11: Global Vegetable Glycerine (VG) Segment Market Share, By Region 2013-2018

    TABLE 12: Global Vegetable Glycerine (VG) Segment Market Share, By Region 2019-2027

    TABLE 13: Global Vegetable Glycerine (VG) Segment Y-o-Y, By Region 2018-2027

    TABLE 14: Global Propylene Glycol (PG) Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 15: Global Propylene Glycol (PG) Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 16: Global Propylene Glycol (PG) Segment Market Share, By Region 2013-2018

    TABLE 17: Global Propylene Glycol (PG) Segment Market Share, By Region 2019-2027

    TABLE 18: Global Propylene Glycol (PG) Segment Y-o-Y, By Region 2018-2027

    TABLE 19: Global Original Tobacco Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 20: Global Original Tobacco Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 21: Global Original Tobacco Segment Market Share, By Region 2013-2018

    TABLE 22: Global Original Tobacco Segment Market Share, By Region 2019-2027

    TABLE 23: Global Original Tobacco Segment Y-o-Y, By Region 2018-2027

    TABLE 24: Global Mint & Menthol Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 25: Global Mint & Menthol Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 26: Global Mint & Menthol Segment Market Share, By Region 2013-2018

    TABLE 27: Global Mint & Menthol Segment Market Share, By Region 2019-2027

    TABLE 28: Global Mint & Menthol Segment Y-o-Y, By Region 2018-2027

    TABLE 29: Global Fruits & Candy Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 30: Global Fruits & Candy Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 31: Global Fruits & Candy Segment Market Share, By Region 2013-2018

    TABLE 32: Global Fruits & Candy Segment Market Share, By Region 2019-2027

    TABLE 33: Global Fruits & Candy Segment Y-o-Y, By Region 2018-2027

    TABLE 34: Global Chocolate Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 35: Global Chocolate Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 36: Global Chocolate Segment Market Share, By Region 2013-2018

    TABLE 37: Global Chocolate Segment Market Share, By Region 2019-2027

    TABLE 38: Global Chocolate Segment Y-o-Y, By Region 2018-2027

    TABLE 39: Global Dessert Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 40: Global Dessert Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 41: Global Dessert Segment Market Share, By Region 2013-2018

    TABLE 42: Global Dessert Segment Market Share, By Region 2019-2027

    TABLE 43: Global Dessert Segment Y-o-Y, By Region 2018-2027

    TABLE 44: Global Other Flavors  Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 45: Global Other Flavors  Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 46: Global Other Flavors  Segment Market Share, By Region 2013-2018

    TABLE 47: Global Other Flavors  Segment Market Share, By Region 2019-2027

    TABLE 48: Global Other Flavors  Segment Y-o-Y, By Region 2018-2027

    TABLE 49: Global Hypermarkets/Supermarkets Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 50: Global Hypermarkets/Supermarkets Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 51: Global Hypermarkets/Supermarkets Segment Market Share, By Region 2013-2018

    TABLE 52: Global Hypermarkets/Supermarkets Segment Market Share, By Region 2019-2027

    TABLE 53: Global Hypermarkets/Supermarkets Segment Y-o-Y, By Region 2018-2027

    TABLE 54: Global Convenience Stores Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 55: Global Convenience Stores Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 56: Global Convenience Stores Segment Market Share, By Region 2013-2018

    TABLE 57: Global Convenience Stores Segment Market Share, By Region 2019-2027

    TABLE 58: Global Convenience Stores Segment Y-o-Y, By Region 2018-2027

    TABLE 59: Global Specialty Stores Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 60: Global Specialty Stores Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 61: Global Specialty Stores Segment Market Share, By Region 2013-2018

    TABLE 62: Global Specialty Stores Segment Market Share, By Region 2019-2027

    TABLE 63: Global Specialty Stores Segment Y-o-Y, By Region 2018-2027

    TABLE 64: Global Independent Small Groceries Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 65: Global Independent Small Groceries Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 66: Global Independent Small Groceries Segment Market Share, By Region 2013-2018

    TABLE 67: Global Independent Small Groceries Segment Market Share, By Region 2019-2027

    TABLE 68: Global Independent Small Groceries Segment Y-o-Y, By Region 2018-2027

    TABLE 69: Global Online Retail Segment Value (US$ Mn) & Volume, By Region 2013-2018

    TABLE 70: Global Online Retail Segment Value (US$ Mn) & Volume, By Region 2019-2027

    TABLE 71: Global Online Retail Segment Market Share, By Region 2013-2018

    TABLE 72: Global Online Retail Segment Market Share, By Region 2019-2027

    TABLE 73: Global Online Retail Segment Y-o-Y, By Region 2018-2027

    TABLE 74: North America E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 75: North America E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 76: North America E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 77: North America E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 78: North America E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 79: North America E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 80: North America E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 81: North America E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    TABLE 82: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 83: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 84: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 85: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 86: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 87: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 88: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 89: Latin America E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    TABLE 90: Europe E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 91: Europe E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 92: Europe E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 93: Europe E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 94: Europe E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 95: Europe E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 96: Europe E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 97: Europe E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    TABLE 98: Japan E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 99: Japan E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 100: Japan E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 101: Japan E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 102: Japan E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 103: Japan E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 104: Japan E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 105: Japan E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    TABLE 106: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 107: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 108: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 109: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 110: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 111: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 112: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 113: APEJ E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    TABLE 114: MEA E-Liquid Market Value (US$ Mn) & Volume, By Country 2013-2018

    TABLE 115: MEA E-Liquid Market Value (US$ Mn) & Volume, By Country 2019-2027

    TABLE 116: MEA E-Liquid Market Value (US$ Mn) & Volume, By Base 2013-2018

    TABLE 117: MEA E-Liquid Market Value (US$ Mn) & Volume, By Base 2019-2027

    TABLE 118: MEA E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2013-2018

    TABLE 119: MEA E-Liquid Market Value (US$ Mn) & Volume, By Flavor 2019-2027

    TABLE 120: MEA E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2013-2018

    TABLE 121: MEA E-Liquid Market Value (US$ Mn) & Volume, By Sales Channel 2019-2027

    FIG. 1: Global E-Liquid Market Value (US$ Mn), 2013-2018

    FIG. 2: Global E-Liquid Market Value (US$ Mn) Forecast, 2019-2027

    FIG. 3: Global E-Liquid Market Value (US$ Mn) and Y-o-Y, 2018-2027

    FIG. 4: Global PG and VG Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 5: Global PG and VG Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 6: Global PG and VG Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 7: Global Vegetable Glycerine (VG) Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 8: Global Vegetable Glycerine (VG) Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 9: Global Vegetable Glycerine (VG) Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 10: Global Propylene Glycol (PG) Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 11: Global Propylene Glycol (PG) Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 12: Global Propylene Glycol (PG) Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 13: Global Original Tobacco Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 14: Global Original Tobacco Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 15: Global Original Tobacco Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 16: Global Mint & Menthol Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 17: Global Mint & Menthol Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 18: Global Mint & Menthol Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 19: Global Fruits & Candy Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 20: Global Fruits & Candy Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 21: Global Fruits & Candy Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 22: Global Chocolate Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 23: Global Chocolate Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 24: Global Chocolate Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 25: Global Dessert Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 26: Global Dessert Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 27: Global Dessert Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 28: Global Other Flavors  Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 29: Global Other Flavors  Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 30: Global Other Flavors  Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 31: Global Hypermarkets/Supermarkets Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 32: Global Hypermarkets/Supermarkets Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 33: Global Hypermarkets/Supermarkets Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 34: Global Convenience Stores Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 35: Global Convenience Stores Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 36: Global Convenience Stores Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 37: Global Specialty Stores Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 38: Global Specialty Stores Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 39: Global Specialty Stores Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 40: Global Independent Small Groceries Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 41: Global Independent Small Groceries Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 42: Global Independent Small Groceries Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 43: Global Online Retail Segment Market Value (US$ Mn) By Region, 2013-2018

    FIG. 44: Global Online Retail Segment Market Value (US$ Mn) By Region, 2019-2027

    FIG. 45: Global Online Retail Segment Y-o-Y Growth Rate, By Region, 2018-2027

    FIG. 46: North America E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 47: North America E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 48: North America E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 49: North America E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 50: North America E-Liquid Market Value (US$ Mn), By Flavor 2013-2018

    FIG. 51: North America E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 52: North America E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 53: North America E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

    FIG. 54: Latin America E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 55: Latin America E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 56: Latin America E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 57: Latin America E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 58: Latin America E-Liquid Market Value (US$ Mn), By Flavor 2013-2018

    FIG. 59: Latin America E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 60: Latin America E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 61: Latin America E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

    FIG. 62: Europe E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 63: Europe E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 64: Europe E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 65: Europe E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 66: Europe E-Liquid Market Value (US$ Mn), By Flavor 2013-2018

    FIG. 67: Europe E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 68: Europe E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 69: Europe E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

    FIG. 70: Japan E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 71: Japan E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 72: Japan E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 73: Japan E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 74: Japan E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 75: Japan E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 76: Japan E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 77: Japan E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

    FIG. 78: APEJ E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 79: APEJ E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 80: APEJ E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 81: APEJ E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 82: APEJ E-Liquid Market Value (US$ Mn), By Flavor 2013-2018

    FIG. 83: APEJ E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 84: APEJ E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 85: APEJ E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

    FIG. 86: MEA E-Liquid Market Value (US$ Mn), By Country 2013-2018

    FIG. 87: MEA E-Liquid Market Value (US$ Mn), By Country 2019-2027

    FIG. 88: MEA E-Liquid Market Value (US$ Mn), By Base 2013-2018

    FIG. 89: MEA E-Liquid Market Value (US$ Mn), By Base 2019-2027

    FIG. 90: MEA E-Liquid Market Value (US$ Mn), By Flavor 2013-2018

    FIG. 91: MEA E-Liquid Market Value (US$ Mn), By Flavor 2019-2027

    FIG. 92: MEA E-Liquid Market Value (US$ Mn), By Sales Channel 2013-2018

    FIG. 93: MEA E-Liquid Market Value (US$ Mn), By Sales Channel 2019-2027

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