The entire market of non-alcoholic beverages has grown more effectively with the significant development in the technology of product making. Whereas, the category eliquids can be segmented into eJuice, eFluids, eCigarettes, electronic nicotine delivery systems, vaporizer cigarettes, electronic non-nicotine delivery systems (ENNDS) and eCigs. In addition, the eCigarettes are measured as an alternative to real cigarettes with no tobacco and is driven by a battery device that discharges a flavored fog when breathe in. Furthermore, eLiquids are 95% less harmful than a normal cigarette. Meanwhile, in India, the business of eCigarette is in initial stage as consumers are beginning to switch from traditional cigarette to eCigarette, which are comprised healthier-hence eCigarette is becoming popular among the end-users. The key players of this market are playing an important by dominating the handsome amount of share in this market by investing the effective amount of investment in the related research and developed programs which further proved to be beneficial for leading the fastest market growth during the forecasted period of 2016-2022.
According to the report analysis, ‘Indian Eliquids And Ejuice Market (2016-2022)’ it is states that there are several key players which are presently functioning in this market more significantly for accounting the handsome amount of share by adopting the profitable market strategies and policies after analyzing and investigating the other aspects of this market includes ITC Limited, Japan Tobacco Inc, Altria Group Inc, Godfrey Philips India Ltd, Philip Morris International Management SA (PMI), Reynolds American Inc, Green Vapo, Litejoy International Pvt. Ltd, Pure Vapors, SPK Consumer Solutions Pvt. Ltd, Shenzhen Joyetech Co., Ltd, Foschia (R.R. Chemicals), Foschia (R.R. Chemicals) and several others. In addition, the growing young populace, transforming the consumer lifestyle, growing demands and spending activities have led the demand for eLiquid and eJuice in India.
In addition, the effective developments of innovative products with extra advantages supports to develop the customer satisfaction and significant increase in the customer base as customers are demanding for numerous flavor products and they are ready to spend money. According to the research, the Indian eLiquid and eJuice Market is expected to observe a CAGR of 54.1% during the forecast period of 2016-2022.
Although, the market ofeLiquids and eJuiceis having some market restraints which hamper the growth such as battery explosions, government taxation, rules and regulations and significant rise in the poisoning incidents. For instance, for attaining the highest market share and leading the fastest market growth after utilizing the growth drivers such as Environment friendly, helps to quit smoking, low cost and affordable price, less harmful than traditional cigarettes and several others. Not only has this, the key players of this market are adopting the profitable opportunities such as Opportunities for tobacco players, Focus on developing states in India, Increasing demand for pre-filled eLiquid and several others. Therefore, in the near future, it is expected that the Indian market of eLiquids and eJuice will increase more significantly over the recent few years.
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Ankur Gupta, Head Marketing & Communications