Tobacco-Free Formulation of E-Liquid and E-Juice and High Prevalence of Lung Cancer to Augment Growth of E-Liquid and E-Juice Market

 

E-liquid and e-juice is a liquid consisting of propylene glycol mixed with other chemical substances and sometimes includes flavorings such as fruit juices. The composition and consistency of e-juice greatly affects how it smells and tastes when it is vaped. It differs slightly from bottled e-juices because it is more concentrated, and therefore, it has a stronger taste and aroma. The concentration is usually measured in percentage of volume by weight. More or less potent e-juices are available depending on its contents, which range from vegetable oils and glycerine to propylene glycol.

Market Dynamics

Tobacco-free formulation of e-liquid and e-juice and increasing substance abuse is expected to propel growth of the e-liquid and e-juice market. For instance, according to the 2018 National Survey on Drug Use and Health, in the U.S., around 164.8 million people aged 12 or older in the U.S. were past month substance users that included tobacco, alcohol, or illicit drugs.

High prevalence of lung cancer is expected to offer lucrative growth opportunities for players in the e-liquid and e-juice market. For instance, according to The American Cancer Society, in 2020, the U.S. is expected to witness around 228,820 new cases of lung cancer and around 135,720 deaths due to the disease. Moreover, vaping is considered less harmful than smoking, which is also expected to aid in growth of the market. For instance, in April 2020, the U.K released its 6th annual independent report, “A Tobacco Control Plan for England”, with a statement reassuring the public that vaping is still at least 95 percent less harmful than smoking.

However, use of e-cigarettes may lead to disruption in the gut barrier and trigger inflammation in the body, according to some studies. Such side effects are expected to hinder growth of the e-liquid and e-juice market. Sale of counterfeit and unauthorized e-cigarettes is also expected to limit the market growth.

Competitive Analysis 

Major players operating in the e-liquid and e-juice market include, Black Note Vape Inc., Fontem Ventures B.V, Crystal Canyon Vapes LLC, e-Liquid Factory, E-liquid Brands LLC, Mig Vapor LLC, Vape Dudes, KAIs Virgin Vapor, ZampleBox LLC, and VaporFi Inc.

November 2019: Fontem Ventures welcomed the U.S Centers for Disease Controls and Prevention update that vitamin E acetate has been identified as present in 100% of tested samples from victims of lung injuries in the US.