The Latin America, Middle East and Africa E-liquid Market would witness market growth of 16.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA E-liquid Market by Country in 2023, and would 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.
Free Valuable Insights: The Worldwide E-liquid Market is Projected to reach USD 5.3 Billion by 2031, at a CAGR of 13.7%
Based on Type, the market is segmented into Bottled and Pre-Filled. Based on Distribution Channel, the market is segmented into Online and Retail Store (Convenience Stores, Specialty Stores, Tobacconist, Drug Stores, and News Stands). Based on Flavor Type, the market is segmented into Tobacco, Fruits & Nuts, Menthol, Dessert, Chocolate, and Other Flavor Type. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type
By Distribution Channel
By Flavor Type
By Country
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