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Market Research Report Estimates E-Liquid Market Will Be Worth $3.4 Billion Globally by 2028

Research keeps indicating that vapers, including adults using e-cigarettes to quit smoking, prefer flavoured products. The report, “E-Liquid Market” highlighted that in 2020 the flavours market was valued at USD1.3 Billion and is projected to reach USD3.4 Billion by 2028.
The report highlights that market players are investing in research so as to manufacture appealing, yet safe, e-liquids. Furthermore, availing from the popularity of social media they are successfully marketing the latest trends and flavours, implementing alteration promotional plans & strategies, and increase their consumer base.
The report lists the following key developments and players, in the time period assessed.
“Key Developments • 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. • In August 2016, Flavors & More introduced new premium e-liquid products – Cypher, Hawkeye, and iGen, in the premium category.
Key Players The major players in the market are Black Note, Inc., Breazy, BSMW Ltd., Crystal Canyon Vapes LLC., eLiquid Factory, Mig Vapor LLC., Molecule Labs, Inc., Nicopure Labs LLC., Philip Morris International Inc., Turning Point Brands Inc., and VMR Products LLC.”
What do adult vapers prefer?
Meanwhile, a study aimed at understanding the impact of factors such as device type, flavours, nicotine levels and prices, on adult vapers’ choices among closed-system and open-system e-cigarettes, cigarettes and heated tobacco products (HTPs) indicated a preference for flavoured e-liquids.
The study titled, “Impact of flavours, device, nicotine levels and price on adult e-cigarette users’ tobacco and nicotine product choices,” consisted of choice experiments to assess the relative impact of several product characteristics to examine differences by smoking status and primarily used e-cigarette device and flavour.
The research team found that on average, participants preferred non-tobacco and non-menthol flavours, the majority preferred open-system over closed-system devices, and a regular nicotine level, over a lower nicotine level.

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