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市场调查报告书
商品编码
1943307

电子烟油市场－全球产业规模、份额、趋势、机会及预测（按类型、口味、通路、地区及竞争格局划分，2021-2031年）

E-Liquid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Flavor, By Distribution Channel, By Region & Competition, 2021-2031F
出版日期: | 出版商: TechSci Research | 英文 185 Pages | 商品交期: 2-3个工作天内

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简介目录

全球电子烟烟液市场预计将从 2025 年的 28.2 亿美元成长到 2031 年的 60.4 亿美元，复合年增长率为 13.54%。

电子烟液是一种特殊配方的液体，含有丙二醇、植物甘油、香料和尼古丁，经电子设备加热后可产生可吸入的气溶胶。该市场成长的主要驱动力是消费者越来越倾向于选择危害较小的产品来取代可燃香烟。丰富多样的口味选择进一步强化了这一转变，促进了使用者的接受度和留存率。为了凸显这项需求的经济重要性，电子烟技术协会报告称，到2024年，电子烟产业将为美国经济贡献约220.9亿美元。

市场概览
预测期 2027-2031
市场规模：2025年 28.2亿美元
市场规模：2031年 60.4亿美元
复合年增长率：2026-2031年 13.54%
成长最快的细分市场 预填充
最大的市场 北美洲

儘管该行业呈现成长态势，但由于监管环境日益严格，仍面临许多挑战。世界各国政府正在实施更严格的合规措施，包括可能禁止调味产品和提高消费税，这给企业营运带来了巨大的不确定性。这种严格的立法构成了严重的障碍，有可能阻碍维持市场扩张所需的生产和分销能力。

市场驱动因素

一次性预注油烟弹系统的兴起正在改变电子烟油产业，其主要驱动力是消费者对便利性和简易性的偏好。与需要手动注油和维护雾化芯的开放式设备相比，这些封闭式系统提供了轻鬆便捷的使用体验，深受新手和老手用户的青睐。这一趋势也改变了製造商的重心，越来越多的生产商开始优先考虑预注油的专用硬件，而非单独销售瓶装烟油。美国疾病管制与预防中心基金会2024年6月发布的电子烟销售趋势报告的数据也印证了这项转变。报告指出，抛弃式电子烟正从传统的开放式烟油系统转向更高效的模式。

同时，电子烟作为一种比传统香烟更安全的替代品，日益被人们接受，成为推动市场成长的关键因素。各地公共卫生部门的讨论也越来越认可电子烟液作为重要的减害工具，鼓励吸烟者改用电子烟以降低健康风险。这种成长势头得益于戒烟者中电子烟产品的高留存率，他们利用这些产品来维持戒烟状态。根据英国吸烟与健康行动组织（Action on Smoking and Health）2024年8月发布的关于英国电子烟市场的情况说明书，目前53%的电子烟用户是戒烟者，这表明该产品作为烟草替代品的有效性。这种需求推动了强劲的财务业绩，奥驰亚集团（Altria Group）2024年10月的报告显示，NJOY耗材的出货量年增15.6%。

市场挑战

法律规范对全球电子烟油市场的成长构成重大障碍。各国政府正逐步实施严格的合规要求，包括高额消费税和对热门口味的禁令。这些法律负担为企业营运带来巨大的不确定性，迫使製造商将大量资源投入合规而非产品和市场开发。监管政策的波动扰乱了供应链，抑制了投资，有效地阻碍了生产技术的进步以满足消费者需求。

此外，严格的监管无意中助长了不受监管的黑市扩张，损害了合规企业的财务生存能力。当复杂的授权要求限制了合法的通路时，相当一部分消费者需求会转向灰色市场。根据美国便利商店协会的数据，由于严格的许可壁垒，到2025年，美国销售的电子烟产品中约有54%将被归类为非法产品。这种收入向非监管市场转移的趋势，极大地限制了合法电子烟油行业的估值，并阻碍了其更广泛的经济发展。

市场趋势

针对烟弹优化的、高浓度电子烟油的出现正在重塑产品模式。製造商正在研发配方，力求在符合规定的硬体内模拟一次性电子烟的性能。这一趋势透过在永续的烟弹系统中提供类似的口味强度和顺畅的吸入体验，有效应对了对一次性电子烟的监管限制，从而帮助留住那些可能因硬体禁令而放弃市场的用户。透过优化低功率设备的黏度和尼古丁输送，品牌正在帮助使用者更轻鬆地过渡到更持久的系统，同时又不影响使用者体验。正如Smoore International在2024年8月发布的中期报告指出，2024年第二季度欧洲封闭式烟弹产品的收入环比增长约93.2%，这表明这些专有电子烟油正迅速被市场接受。

合成尼古丁和无烟草尼古丁的兴起标誌着一种策略转变，即转向不依赖传统农业供应链的实验室合成成分。这项创新使製造商能够提供更高纯度的产品，同时有可能规避某些地区的特殊烟草消费税和复杂的监管规定。建立稳定、中性的风味基础，可以实现更复杂的风味组合，使产品与烟草替代品区分开来。根据美国国立卫生研究院 (NIH) 2024 年 8 月发布的电子烟市场份额报导，电子烟% 。

目录

第一章概述

第二章调查方法

第三章执行摘要

第四章：客户评价

第五章 全球电子烟油市场展望

  • 市场规模及预测
    • 按金额
  • 市占率及预测
    • 按类型（预先填充、瓶装）
    • 依口味（薄荷醇、烟草、甜点、水果坚果、巧克力、其他）
    • 依分销管道（超级市场/大卖场、专卖店、线上、其他）
    • 按地区
    • 按公司（2025 年）
  • 市场地图

第六章 北美电子烟油市场展望

  • 市场规模及预测
  • 市占率及预测
  • 北美洲：国家分析
    • 我们
    • 加拿大
    • 墨西哥

第七章 欧洲电子烟油市场展望

  • 市场规模及预测
  • 市占率及预测
  • 欧洲：国家分析
    • 德国
    • 法国
    • 英国
    • 义大利
    • 西班牙

8. 亚太地区电子烟油市场展望

  • 市场规模及预测
  • 市占率及预测
  • 亚太地区：国家分析
    • 中国
    • 印度
    • 日本
    • 韩国
    • 澳洲

9. 中东和非洲电子烟油市场展望

  • 市场规模及预测
  • 市占率及预测
  • 中东和非洲：国家分析
    • 沙乌地阿拉伯
    • 阿拉伯聯合大公国
    • 南非

第十章 南美洲电子烟油市场展望

  • 市场规模及预测
  • 市占率及预测
  • 南美洲：国家分析
    • 巴西
    • 哥伦比亚
    • 阿根廷

第十一章 市场动态

  • 司机
  • 任务

第十二章 市场趋势与发展

  • 併购
  • 产品发布
  • 最新进展

第十三章 全球电子烟油市场：SWOT分析

第十四章 波特五力分析

  • 产业竞争
  • 新进入者的可能性
  • 供应商电力
  • 顾客权力
  • 替代品的威胁

第十五章 竞争格局

  • Black Note, Inc.
  • Breazy;BSMW Ltd.
  • Crystal Canyon Vapes LLC
  • eLiquid Factory
  • Mig Vapor LLC
  • Molecule Labs, Inc.
  • Nicopure Labs LLC
  • Philip Morris International Inc.
  • Turning Point Brands Inc.
  • VMR Products LLC

第十六章 策略建议

第十七章：关于研究公司及免责声明

简介目录
Product Code: 18910

The Global E-Liquid Market is projected to expand from a valuation of USD 2.82 Billion in 2025 to USD 6.04 Billion by 2031, reflecting a compound annual growth rate of 13.54%. Defined as a specialized fluid mixture of propylene glycol, vegetable glycerin, flavorings, and nicotine, e-liquid creates an inhalable aerosol when heated by electronic devices. The market is primarily propelled by a broad consumer transition toward harm reduction options, as individuals actively look for substitutes for combustible tobacco. This shift is reinforced by a diverse array of flavor options that aid in user adoption and retention. Highlighting the economic significance of this demand, the Vapor Technology Association reported that the vapor industry contributed roughly $22.09 billion to the United States economy in 2024.

Market Overview
Forecast Period2027-2031
Market Size 2025USD 2.82 Billion
Market Size 2031USD 6.04 Billion
CAGR 2026-203113.54%
Fastest Growing SegmentPre-filled
Largest MarketNorth America

Despite this growth trajectory, the industry confronts substantial hurdles due to an increasingly stringent regulatory landscape. Governments across the globe are enforcing tougher compliance measures, such as potential bans on flavored products and increased excise taxes, which generate significant operational instability. This legislative intensity poses a serious barrier that threatens to hinder the manufacturing and distribution capacities essential for maintaining market expansion.

Market Driver

The rising dominance of disposable and pre-filled pod systems is transforming the e-liquid industry, fueled by a consumer preference for convenience and simplicity. In contrast to open-system devices that demand manual filling and coil care, these closed systems provide an accessible experience that attracts both novices and seasoned users. This trend has shifted manufacturing focus, with production increasingly prioritizing the pre-filling of proprietary hardware over independent bottle sales. Data from the CDC Foundation's June 2024 brief on e-cigarette sales trends confirms this shift, noting that disposable e-cigarettes comprised 58.1% of standardized unit sales in the United States, illustrating a major move away from traditional open-tank configurations.

Simultaneously, the growing acceptance of vaping as a safer substitute for combustible tobacco serves as a major growth engine. Public health discourse in various regions increasingly identifies e-liquids as vital tools for harm reduction, urging smokers to switch to vaping to lower health risks. This momentum is evidenced by high conversion rates among former smokers who utilize these products to remain smoke-free. According to an August 2024 fact sheet by Action on Smoking and Health regarding vape usage in Great Britain, 53% of current vapers are ex-smokers, proving the product's effectiveness in tobacco replacement. This demand drives strong financial results, as shown in Altria Group's October 2024 report, where NJOY consumable shipment volumes rose by 15.6% year-over-year.

Market Challenge

A restrictive regulatory framework acts as a significant obstacle to the growth of the Global E-Liquid Market. Governments are progressively applying strict compliance mandates, such as steep excise taxes and bans on sought-after flavor profiles. This legislative burden results in deep operational unpredictability, compelling manufacturers to direct considerable resources toward legal compliance instead of product development or market outreach. The volatility of these regulations interrupts supply chains and deters investment, effectively halting the production advancements needed to satisfy consumer needs.

Additionally, severe restrictions inadvertently stimulate the expansion of an unregulated shadow market, which compromises the financial health of compliant entities. When legal pathways are narrowed by intricate authorization requirements, a substantial share of consumer demand migrates to the gray market. Data from the National Association of Convenience Stores indicates that in 2025, roughly 54% of vaping products sold in the United States were classified as illicit due to rigorous authorization hurdles. This shift of revenue toward unregulated sources severely limits the valuation of the legitimate e-liquid industry and impedes its broader economic progress.

Market Trends

The creation of pod-optimized high-strength liquids is reshaping the product environment as manufacturers develop formulas that mimic the performance of disposable devices within compliant hardware. This movement counters regulatory restrictions on single-use vapes by providing comparable flavor intensity and smooth delivery in sustainable pod systems, helping to keep users who might otherwise leave the market due to hardware prohibitions. By refining viscosity and nicotine delivery for low-wattage devices, brands are easing the switch to more permanent setups without sacrificing user satisfaction. As noted in Smoore International's August 2024 interim report, revenue from closed-system pod products in Europe jumped by approximately 93.2% quarter-on-quarter in the second quarter of 2024, signaling rapid adoption of these specialized liquids.

The rise of synthetic and tobacco-free nicotine marks a strategic shift toward laboratory-synthesized ingredients that function independently of conventional agricultural supply chains. This innovation permits manufacturers to offer products with higher purity while potentially bypassing tobacco-specific excise taxes and complicated regulations in certain areas. The capacity to establish a consistent, neutral flavor base allows for more intricate flavor profiling, distinguishing these offerings from tobacco-derived alternatives. According to an August 2024 article by the National Institutes of Health on e-cigarette market shares, products explicitly claiming synthetic or tobacco-free nicotine comprised 2% of total unit sales in U.S. brick-and-mortar retailers as of January 2024.

Key Market Players

  • Black Note, Inc.
  • Breazy; BSMW Ltd.
  • Crystal Canyon Vapes LLC
  • eLiquid Factory
  • Mig Vapor LLC
  • Molecule Labs, Inc.
  • Nicopure Labs LLC
  • Philip Morris International Inc.
  • Turning Point Brands Inc.
  • VMR Products LLC

Report Scope

In this report, the Global E-Liquid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

E-Liquid Market, By Type

  • Pre-filled
  • Bottled

E-Liquid Market, By Flavor

  • Menthol
  • Tobacco
  • Dessert
  • Fruits & Nuts
  • Chocolate
  • Others

E-Liquid Market, By Distribution Channel

  • Supermarkets /Hypermarkets
  • Specialty Stores
  • Online
  • Others

E-Liquid Market, By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • United Kingdom
    • Italy
    • Germany
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global E-Liquid Market.

Available Customizations:

Global E-Liquid Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

  • 1.1. Market Definition
  • 1.2. Scope of the Market
    • 1.2.1. Markets Covered
    • 1.2.2. Years Considered for Study
    • 1.2.3. Key Market Segmentations

2. Research Methodology

  • 2.1. Objective of the Study
  • 2.2. Baseline Methodology
  • 2.3. Key Industry Partners
  • 2.4. Major Association and Secondary Sources
  • 2.5. Forecasting Methodology
  • 2.6. Data Triangulation & Validation
  • 2.7. Assumptions and Limitations

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Market Players
  • 3.4. Overview of Key Regions/Countries
  • 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global E-Liquid Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Type (Pre-filled, Bottled)
    • 5.2.2. By Flavor (Menthol, Tobacco, Dessert, Fruits & Nuts, Chocolate, Others)
    • 5.2.3. By Distribution Channel (Supermarkets /Hypermarkets, Specialty Stores, Online, Others)
    • 5.2.4. By Region
    • 5.2.5. By Company (2025)
  • 5.3. Market Map

6. North America E-Liquid Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Type
    • 6.2.2. By Flavor
    • 6.2.3. By Distribution Channel
    • 6.2.4. By Country
  • 6.3. North America: Country Analysis
    • 6.3.1. United States E-Liquid Market Outlook
      • 6.3.1.1. Market Size & Forecast
        • 6.3.1.1.1. By Value
      • 6.3.1.2. Market Share & Forecast
        • 6.3.1.2.1. By Type
        • 6.3.1.2.2. By Flavor
        • 6.3.1.2.3. By Distribution Channel
    • 6.3.2. Canada E-Liquid Market Outlook
      • 6.3.2.1. Market Size & Forecast
        • 6.3.2.1.1. By Value
      • 6.3.2.2. Market Share & Forecast
        • 6.3.2.2.1. By Type
        • 6.3.2.2.2. By Flavor
        • 6.3.2.2.3. By Distribution Channel
    • 6.3.3. Mexico E-Liquid Market Outlook
      • 6.3.3.1. Market Size & Forecast
        • 6.3.3.1.1. By Value
      • 6.3.3.2. Market Share & Forecast
        • 6.3.3.2.1. By Type
        • 6.3.3.2.2. By Flavor
        • 6.3.3.2.3. By Distribution Channel

7. Europe E-Liquid Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Type
    • 7.2.2. By Flavor
    • 7.2.3. By Distribution Channel
    • 7.2.4. By Country
  • 7.3. Europe: Country Analysis
    • 7.3.1. Germany E-Liquid Market Outlook
      • 7.3.1.1. Market Size & Forecast
        • 7.3.1.1.1. By Value
      • 7.3.1.2. Market Share & Forecast
        • 7.3.1.2.1. By Type
        • 7.3.1.2.2. By Flavor
        • 7.3.1.2.3. By Distribution Channel
    • 7.3.2. France E-Liquid Market Outlook
      • 7.3.2.1. Market Size & Forecast
        • 7.3.2.1.1. By Value
      • 7.3.2.2. Market Share & Forecast
        • 7.3.2.2.1. By Type
        • 7.3.2.2.2. By Flavor
        • 7.3.2.2.3. By Distribution Channel
    • 7.3.3. United Kingdom E-Liquid Market Outlook
      • 7.3.3.1. Market Size & Forecast
        • 7.3.3.1.1. By Value
      • 7.3.3.2. Market Share & Forecast
        • 7.3.3.2.1. By Type
        • 7.3.3.2.2. By Flavor
        • 7.3.3.2.3. By Distribution Channel
    • 7.3.4. Italy E-Liquid Market Outlook
      • 7.3.4.1. Market Size & Forecast
        • 7.3.4.1.1. By Value
      • 7.3.4.2. Market Share & Forecast
        • 7.3.4.2.1. By Type
        • 7.3.4.2.2. By Flavor
        • 7.3.4.2.3. By Distribution Channel
    • 7.3.5. Spain E-Liquid Market Outlook
      • 7.3.5.1. Market Size & Forecast
        • 7.3.5.1.1. By Value
      • 7.3.5.2. Market Share & Forecast
        • 7.3.5.2.1. By Type
        • 7.3.5.2.2. By Flavor
        • 7.3.5.2.3. By Distribution Channel

8. Asia Pacific E-Liquid Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Type
    • 8.2.2. By Flavor
    • 8.2.3. By Distribution Channel
    • 8.2.4. By Country
  • 8.3. Asia Pacific: Country Analysis
    • 8.3.1. China E-Liquid Market Outlook
      • 8.3.1.1. Market Size & Forecast
        • 8.3.1.1.1. By Value
      • 8.3.1.2. Market Share & Forecast
        • 8.3.1.2.1. By Type
        • 8.3.1.2.2. By Flavor
        • 8.3.1.2.3. By Distribution Channel
    • 8.3.2. India E-Liquid Market Outlook
      • 8.3.2.1. Market Size & Forecast
        • 8.3.2.1.1. By Value
      • 8.3.2.2. Market Share & Forecast
        • 8.3.2.2.1. By Type
        • 8.3.2.2.2. By Flavor
        • 8.3.2.2.3. By Distribution Channel
    • 8.3.3. Japan E-Liquid Market Outlook
      • 8.3.3.1. Market Size & Forecast
        • 8.3.3.1.1. By Value
      • 8.3.3.2. Market Share & Forecast
        • 8.3.3.2.1. By Type
        • 8.3.3.2.2. By Flavor
        • 8.3.3.2.3. By Distribution Channel
    • 8.3.4. South Korea E-Liquid Market Outlook
      • 8.3.4.1. Market Size & Forecast
        • 8.3.4.1.1. By Value
      • 8.3.4.2. Market Share & Forecast
        • 8.3.4.2.1. By Type
        • 8.3.4.2.2. By Flavor
        • 8.3.4.2.3. By Distribution Channel
    • 8.3.5. Australia E-Liquid Market Outlook
      • 8.3.5.1. Market Size & Forecast
        • 8.3.5.1.1. By Value
      • 8.3.5.2. Market Share & Forecast
        • 8.3.5.2.1. By Type
        • 8.3.5.2.2. By Flavor
        • 8.3.5.2.3. By Distribution Channel

9. Middle East & Africa E-Liquid Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Type
    • 9.2.2. By Flavor
    • 9.2.3. By Distribution Channel
    • 9.2.4. By Country
  • 9.3. Middle East & Africa: Country Analysis
    • 9.3.1. Saudi Arabia E-Liquid Market Outlook
      • 9.3.1.1. Market Size & Forecast
        • 9.3.1.1.1. By Value
      • 9.3.1.2. Market Share & Forecast
        • 9.3.1.2.1. By Type
        • 9.3.1.2.2. By Flavor
        • 9.3.1.2.3. By Distribution Channel
    • 9.3.2. UAE E-Liquid Market Outlook
      • 9.3.2.1. Market Size & Forecast
        • 9.3.2.1.1. By Value
      • 9.3.2.2. Market Share & Forecast
        • 9.3.2.2.1. By Type
        • 9.3.2.2.2. By Flavor
        • 9.3.2.2.3. By Distribution Channel
    • 9.3.3. South Africa E-Liquid Market Outlook
      • 9.3.3.1. Market Size & Forecast
        • 9.3.3.1.1. By Value
      • 9.3.3.2. Market Share & Forecast
        • 9.3.3.2.1. By Type
        • 9.3.3.2.2. By Flavor
        • 9.3.3.2.3. By Distribution Channel

10. South America E-Liquid Market Outlook

  • 10.1. Market Size & Forecast
    • 10.1.1. By Value
  • 10.2. Market Share & Forecast
    • 10.2.1. By Type
    • 10.2.2. By Flavor
    • 10.2.3. By Distribution Channel
    • 10.2.4. By Country
  • 10.3. South America: Country Analysis
    • 10.3.1. Brazil E-Liquid Market Outlook
      • 10.3.1.1. Market Size & Forecast
        • 10.3.1.1.1. By Value
      • 10.3.1.2. Market Share & Forecast
        • 10.3.1.2.1. By Type
        • 10.3.1.2.2. By Flavor
        • 10.3.1.2.3. By Distribution Channel
    • 10.3.2. Colombia E-Liquid Market Outlook
      • 10.3.2.1. Market Size & Forecast
        • 10.3.2.1.1. By Value
      • 10.3.2.2. Market Share & Forecast
        • 10.3.2.2.1. By Type
        • 10.3.2.2.2. By Flavor
        • 10.3.2.2.3. By Distribution Channel
    • 10.3.3. Argentina E-Liquid Market Outlook
      • 10.3.3.1. Market Size & Forecast
        • 10.3.3.1.1. By Value
      • 10.3.3.2. Market Share & Forecast
        • 10.3.3.2.1. By Type
        • 10.3.3.2.2. By Flavor
        • 10.3.3.2.3. By Distribution Channel

11. Market Dynamics

  • 11.1. Drivers
  • 11.2. Challenges

12. Market Trends & Developments

  • 12.1. Merger & Acquisition (If Any)
  • 12.2. Product Launches (If Any)
  • 12.3. Recent Developments

13. Global E-Liquid Market: SWOT Analysis

14. Porter's Five Forces Analysis

  • 14.1. Competition in the Industry
  • 14.2. Potential of New Entrants
  • 14.3. Power of Suppliers
  • 14.4. Power of Customers
  • 14.5. Threat of Substitute Products

15. Competitive Landscape

  • 15.1. Black Note, Inc.
    • 15.1.1. Business Overview
    • 15.1.2. Products & Services
    • 15.1.3. Recent Developments
    • 15.1.4. Key Personnel
    • 15.1.5. SWOT Analysis
  • 15.2. Breazy; BSMW Ltd.
  • 15.3. Crystal Canyon Vapes LLC
  • 15.4. eLiquid Factory
  • 15.5. Mig Vapor LLC
  • 15.6. Molecule Labs, Inc.
  • 15.7. Nicopure Labs LLC
  • 15.8. Philip Morris International Inc.
  • 15.9. Turning Point Brands Inc.
  • 15.10. VMR Products LLC

16. Strategic Recommendations

17. About Us & Disclaimer