Asia Pacific region is a suitable option for manufacturers, both small and large. This region has a host of manufacturers from myriads of industries because of low manufacturing costs. One such industry is the e-liquid industry. E-liquid market in the Asia Pacific region is at its nascent stage as the populace is not well acquainted with e-cigarettes and vaporizers. Most of the e-liquid products are exported to western market of Europe and U.S Consortiums. Many associations are taking initiatives to educate the populace about the benefits of vapour products for adult smokers, as it will help penetrate the Asian e-liquid market.
Traditionally, 85% of the global e-liquid was manufactured in a single location in China, Shenzhen, hence, Asia Pacific region has become a renowned exporter of e-liquids across the world. A large number of smoking population and the recent popularity of e-cigarette in Asian nations have accelerated the growth of e-liquid market. Export of e-liquid drives the market in APAC region and a large number of e-liquid manufacturers have emerged in Malaysia, Philippines and Indonesia. Growing popularity of e-cigarette among Asian nations has pushed the manufacturers to cater to the local tastes and hence, flavours like tropical fruits, local sweets and local drinks are being offered to the consumers.
Neither there is a stringent regulatory framework in regards to e-liquid market in the Asia Pacific region, nor is the market uniform, due to which APAC e-liquid market currently makes up only a meagre share of the global market. Rechargeable cigarettes dominate the market and hence, the revenue from prefilled e-liquid in cartridges exceeds the revenue of bottled e-liquids. However, with the rise in the sale of personal vaporizers, which is expected to grow through 2016 to 2025, the sale of bottled e-liquids will increase by 2025.
E-liquid market has gained popularity in some of the Asian countries, namely Malaysia, Philippines and Indonesia, yet it is at a nascent stage. A large number of smoking population, demand for a less harmful alternative to cigarette, lack of stringent regulations on e-liquid and e-cigarette market, and emergence of vape shops are some of the reasons for the growth of the e-liquid market in the Asia Pacific region. However, the lack of a regulatory framework is impeding the growth of the market as counterfeit products in the market are on the rise. Some of the key players in the APAC e-liquid market are Asian Vape Association (AVA), Fact Asia, Malaysia E-Vaporizer and Tobacco Alternatives Association (MEVTA), and Philippine E-cigarette Industry Association (PECIA). BIS Research has done an extensive report on the future of ‘APAC E-liquid Market’. The report provides an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at [email protected] or call us at: +1 650 228 0182