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Analysis of the e-liquid market in India

Analysis of the e-liquid market in India Analysis of the e-liquid market in India
Release date 21.09.2021
Number of pages 35
Formats DOCX, PDF
Cost 45000 ₹

The relevance of research

E-cigarette smoking is spreading at a very fast pace not only in India but also abroad. The rapid spread of electronic cigarette smoking (vaping) is facilitated by manufacturing companies that have turned vaping into a whole subculture


Purpose of the study

Analyzing the state of the e-liquid market in India, assessing the market size, analyzing competitors, and identifying factors influencing the e-liquid market


Content 

Part 1. Overview of the Indian e-liquid market

1.1. Main characteristics of the market
1.2. Dynamics of the market volume of liquids for electronic cigarettes 2016-2020 Potential market capacity
1.3. Assessment of factors affecting the market
1.4. E-Liquid Market Life Cycle Stage
1.5. Competition from substitute products

Part 2. Competitive analysis in the e-liquid market

2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players

Part 3. Analysis of the production of liquids for electronic cigarettes

3.1. Volume and dynamics of domestic production of e-liquids
3.2. Share of exports in the production of e-liquids
3.3. Segmentation of the production of liquids for electronic cigarettes by region
3.3.1. Production by Union Territories
3.3.2. Production by states of India

Part 4. Analysis of foreign trade supplies of liquids for electronic cigarettes

4.1. The volume and dynamics of imports of liquids for electronic cigarettes
4.2. Import structure
4.3. The volume and dynamics of exports of liquids for electronic cigarettes
4.4. Export structure

Part 5. E-Liquid Consumption Analysis

5.1. Dynamics of the volume of consumption of liquids for electronic cigarettes
5.2. Analysis of the results of tenders for the purchase

Part 6. Price Analysis

6.1. Average producer prices by union territories
6.2. Average consumer prices by states in India

Part 7. Assessment of factors of investment attractiveness of the market

Part 8. E-Liquid Market Forecast to 2025

Part 9. Recommendations and conclusions


Research excerpt 

Part 1. Overview of the Indian e-liquid market

1.1. Main characteristics of the market

E-liquid is a ""liquid"" of chemical components used in the process of inhaling/exhaling vapor from the device. … Today the market offers … Another feature of cigarette liquids is not …

Until 2017, the market of liquids for electronic cigarettes was dominated by ... Since 2018, a sharp increase in ... has reduced the share of ... liquids to ...% in 2020. 
E-cigarette smoking is on the rise...
The rapid spread of electronic cigarette smoking (vaping) is facilitated by …

1.2. Dynamics of the market volume of liquids for electronic cigarettes 2016-2020 Potential market capacity

Since 2018, the volume of the market for e-liquids has begun ... due to the entry of strong ... One of the main reasons ... e-liquids for electronic cigarettes has become full ... At the end of 2020, the market for e-liquids for electronic cigarettes amounted to about ... thousand liters, which in ...

In the next decades, electronic smoking devices will be … in general consumption for a number of reasons: reduced …, greater social … However, government regulation is significantly …
The shares of revenue from the sale of liquids for electronic cigarettes were estimated by GidMarket analysts based on ... The leader in terms of revenue in the entire study period is the … federal district with a share of …%. In second place is … the federal district with a share in 2020 of …%. Followed by…

Diagram 3. Revenue (net) from the sale of liquids for electronic cigarettes by union territories for 2016-2020, %

1.3. Assessment of factors affecting the market

Let's consider the main factors influencing the market and, accordingly, demand. 

Economic 

GDP dynamics

GDP is a macroeconomic indicator that reflects the market value of all final goods and services produced in a year in all sectors of the economy on the territory of the state for consumption, export and accumulation. 

The dynamics of India's GDP is decisive in the vector of development of the entire economy of the country and determines the key trends in consumer effective demand and economic activity.
In 2012-2014 GDP growth rate was …, and in 2015 it was …. In 2015, which was the peak of the crisis in the state, the decline in GDP amounted to …% compared to the previous year of 2014, and since …
In 2016, GDP …, at the end of 2017, this indicator shows …
...

In 2020, the decline in India's GDP, according to …, amounted to …%. This is the biggest drop...
In general, economists are building ... but ... forecasts for 2021 ...
...

Социальные
...
technological 
...
Political
...

Concluding the assessment of the impact factors on the Indian e-liquid market, we will summarize the key ones in the framework of the STEP analysis.

Table 1. STEP Analysis of Factors Affecting the E-Liquid Market

According to the results of the performed STEP-analysis, macro-environment factors have a greater influence on the development of the e-liquid market.
Among the significant negative factors…

1.4. E-Liquid Market Life Cycle Stage

The market for liquids for electronic cigarettes is in the stage ... Stage ... is very important for companies, as it creates the most favorable conditions ...
Competition in the e-liquid market…
The promotion strategy should form a high…

1.5. Competition from substitute products

The only way to replace store-bought liquid for an electronic cigarette is ...
...

Part 2. Competitive analysis in the e-liquid market 

2.1. Major players in the market 

Conducting a competitive analysis in the e-liquid market is complicated by the fact that even the largest Indian manufacturers are represented ...
Nevertheless, the main companies participating in the e-liquid market in 2020 were ... players - ...

2.2. Market shares of the largest competitors 

In 2020, the market for e-liquids was dominated by …brand … with a share of …%. In second place …%. On the third - ... Other companies occupy ...% of the Indian market.

Diagram 9. Shares of the largest competitors in the e-liquid market in 2020, %

2.3. Profiles of major players

...

Part 3. Analysis of the production of liquids for electronic cigarettes

3.1. Volume and dynamics of domestic production of e-liquids

The start of the development of the e-liquid market in India falls on … d. Private entrepreneurship began to gradually crowd out …, replacing it with … Since 2018, despite the growth of …, … goods began to dominate the Indian market. At the end of 2020, the volume of Indian production amounted to about … thousand liters.

Among the largest Indian manufacturers, the TOP-5 includes companies …
For 2016-2020, the total revenue of these enterprises in 2020 amounted to … million Rs., … compared to 2016 by …%.

3.2. Share of exports in the production of e-liquids

The share of exports in the production of liquids for electronic cigarettes is gradually ... According to the results 
In 2020, the share of exports in production amounted to …%, … relative to 2016 by … p.p.

3.3. Segmentation of the production of liquids for electronic cigarettes by region
3.3.1. Production by Union Territories

Most Indian manufacturers of e-liquids are concentrated in the … federal district – … thousand liters by the end of 2020, or …% of production in general.

Table 4. Dynamics of production of liquids for electronic cigarettes in India by union territories, 2016-2020, l

3.3.2. Production by states of India

The distribution of shares between regions is determined by the location in them ...
The top regions for the production of e-liquids in 2020 were: 
–– …;
–– …;
–– ….

Part 4. Analysis of foreign trade supplies of liquids for electronic cigarettes

4.1. The volume and dynamics of imports of liquids for electronic cigarettes

Since 2018, electronic cigarettes began to be supplied to the Indian market ..., which gained great popularity, in connection with this, liquid began to be actively supplied to the Indian market ... Also, since 2018, the Indian market began to be actively promoted ... These two brands have significantly increased their volumes imports of liquids for electronic cigarettes in 2019-2020 At the end of 2020, … thousand liters of liquids for electronic cigarettes were imported to India.

Diagram 13. Volume and dynamics of imports of liquids for electronic cigarettes in physical terms, 2016-2020, thousand liters

At the end of 2020, imports of liquids for electronic cigarettes amounted to … mln USD, which is …% higher than the level of 2019. In ruble terms, in 2020, imports amounted to … bln Rs.

4.2. Import structure

In the structure of imports of liquids for electronic cigarettes by importing countries in 2020, the key supplier is …, which accounts for …%. The second line is occupied by … with a share of …%. On the third place …%. Also liquid for electronic cigarettes is supplied to India ...
Note that…

4.3. The volume and dynamics of exports of liquids for electronic cigarettes

India mainly exports liquids for electronic cigarettes ... In 2020, ... thousand liters were sent abroad, which ... exceeded the level of 2019.
The dynamics of the value of exports in dollar terms has a similar dynamics. In 2020, the volume of exports of liquids for electronic cigarettes amounted to … USD.

Foreign trade balance in the electronic cigarette market in 2016-2020 is in the zone of … values: import supplies ... In 2020, the balance amounted to … billion Rs., which for 2016-2020. became ...

Diagram 17. Balance of exports and imports, 2016-2020, million Rs.

4.4. Export structure

The main volume of liquids for electronic cigarettes, in value terms, exported from India in 2020 was supplied to … (…%), … (…%), …

Part 5. E-Liquid Consumption Analysis

5.1. Dynamics of the volume of consumption of liquids for electronic cigarettes

Due to the ever-increasing number of offers, Indians have become more …

E-liquid consumption per smoking population in 2020 amounted to … ml/person, which is …% higher than in 2019.

5.2. Analysis of the results of tenders for the purchase
...

Part 6. Price Analysis

6.1. Average producer prices by union territories

Pricing dictates … Practically …% of all production costs – …
The cost of copyright liquids is determined on the basis of ... That is, depending on the established cost of the author, including the cost of production, as well as ...

The most expensive average producer prices on the e-liquid market in … and … federal districts are …/100 ml, respectively. The cheapest in … – … and ..

6.2. Average consumer prices by states in India

All liquids in terms of quality and cost can be divided into two categories: ...
The average cost of finished e-liquid in the Indian market is about 
… Rs./30 ml. GidMarket analysts assume that the price difference in the regions for liquids for electronic cigarettes is similar ... Thus, the most expensive prices in ... - ... Rs./30 ml, Republic of ... - ... Rs./30 ml and ...

Part 7. Assessment of factors of investment attractiveness of the market

… factors of the investment climate of the market of e-liquids dominate over ... A comprehensive assessment of investment attractiveness factors is … points – … investment climate. The assessment of investment attractiveness was made for companies considering the possibility of entering the market.

The most significant positive factors: ...
The most significant negative factors: ...

Part 8. E-Liquid Market Forecast to 2025 
...

Part 9. Recommendations and conclusions 
...


Diagrams

Diagram 1. The ratio of imported and domestic products in the market of liquids for electronic cigarettes,%
Diagram 2. Dynamics of the volume of the market of liquids for electronic cigarettes, 2016-2020, million Rs.
Diagram 3. Revenue (net) from the sale of liquids for electronic cigarettes by union territories for 2016-2020, %
Diagram 4. Dynamics of India's GDP, 2012-2020, % to the previous year
Diagram 5. Monthly dynamics of the US dollar against the rupee, Rs. for 1 US dollar, 2016-May. 2021
Diagram 6. Dynamics of real incomes of the population of India, % to the previous year, 2012-2020
Diagram 7. Dynamics of the population of India, million people, as of 01 Jan. 2012-2021
Diagram 8. Industry life cycle stage
Diagram 9. Shares of the largest competitors in the e-liquid market in 2020, %
Diagram 10. Dynamics of production volumes of liquids for electronic cigarettes in India for 2016-2020, thousand liters
Diagram 11. Dynamics of the total revenue of the largest manufacturers (TOP-5) of liquids for electronic cigarettes in India, 2016-2020, million Rs.
Diagram 12. The share of exports in production for 2016-2020, %
Diagram 13. Volume and dynamics of imports of liquids for electronic cigarettes in physical terms, 2016-2020, thousand liters
Diagram 14. Volume and dynamics of imports of liquids for electronic cigarettes in monetary terms, 2016-2020, thousand US dollars
Diagram 15. Dynamics of export of liquids for electronic cigarettes in kind, 2016-2020, thousand liters
Diagram 16. Dynamics of export of liquids for electronic cigarettes in monetary terms, 2016-2020, thousand US dollars
Diagram 17. Balance of exports and imports, 2016-2020, million Rs.
Chart 18. Structure of exports by countries in 2020, %
Diagram 19. Dynamics of consumption of liquids for electronic cigarettes in natural terms, 2016-2020, ml/person
Diagram 20. Forecast of market volume in 2021-2025, thousand liters


Tables

Table 1. STEP Analysis of Factors Affecting the E-Liquid Market
Table 2. The main companies participating in the e-liquid market in 2020
Table 3. Profiles of companies participating in the e-liquid market in 2020
Table 4. Dynamics of production of liquids for electronic cigarettes in India by union territories, 2016-2020, l
Table 5. Structure of imports of liquids for electronic cigarettes by importing countries in 2020
Table 6. Average producer prices in the e-liquid market by Union Territories, 2020, Rs./100 ml
Table 7. Average consumer prices in the e-liquid market by Indian states, 2020, Rs./30 ml
Table 8. Evaluation of factors of investment attractiveness of the liquids market for electronic cigarettes


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