The Brazil market dominated the LAMEA E-liquid Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $101.7 million by 2031. The Argentina market is showcasing a CAGR of 17.9% during 2024-2031. Additionally, the UAE market would register a CAGR of 15% during 2024-2031.
As vaping has become more socially accepted, particularly among younger generations, the adoption of this has expanded. The vaping culture, fueled by social media influencers, vaping communities, and marketing campaigns, has contributed to a surge in demand. Additionally, the rise of vaping lounges and events, along with the availability of stylish and customizable devices, has made vaping an appealing lifestyle choice for many consumers.
The uses of these liquids extend beyond simple nicotine consumption and include a variety of experiences and functional benefits that enhance the vaping journey. Vaping has become a social activity in many communities, with users sharing their favorite flavors, tricks, and experiences. These liquids play a significant role in this social aspect of vaping, as different users gravitate toward different flavors and brands.
The growth in disposable income in Nigeria and the rising retail sector in Brazil contribute to the global expansion of this market, albeit through different drivers. The positive growth in National Disposable Income in Nigeria, especially in Q3 and Q4 of 2022, suggests that Nigerian consumers are experiencing a rise in income levels, which can lead to higher discretionary spending. With the growth in retail sales, there is likely to be a rising trend in the demand for non-traditional smoking alternatives, such as vaping products. This economic stability allows consumers to explore and invest in lifestyle products, including e-liquids, thereby supporting the market's growth. Therefore, the rising disposable income in Nigeria and the expanding retail sector in Brazil are both key drivers fueling the growth of this market in their respective regions.
List of Key Companies Profiled
- Black Note, Inc.
- Breazy, Inc.
- Vaporesso
- Air Factory E-liquids LLC
- Nicopure Labs LLC
- Juul Labs, Inc.
- FlavourArt S.r.l.
- KangerTech-Shenzhen Kanger Technology Co., Ltd
Market Report Segmentation
By Type
- Bottled
- Pre-Filled
By Distribution Channel
- Online
- Retail Store
- Convenience Stores
- Specialty Stores
- Tobacconist
- Drug Stores
- News Stands
By Flavor Type
- Tobacco
- Fruits & Nuts
- Menthol
- Dessert
- Chocolate
- Other Flavor Type
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Companies Mentioned
- Black Note, Inc.
- Breazy, Inc.
- Vaporesso
- Air Factory E-liquids LLC
- Nicopure Labs LLC
- Juul Labs, Inc.
- FlavourArt S.r.l.
- KangerTech-Shenzhen Kanger Technology Co., Ltd
Methodology
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