Popularity of Temperature-controlled Cannabis Vaporizers to Surge Over Coming Years, Opines Fact.MR
Published : 26 Apr 2021 Industry: Consumer Goods
Temperature-controlled cannabis vaporizers are set to enable higher growth of the market over the long run. These new temperature-controlled cannabis vaporizers allow consumers to set the preferred temperature, which is a much sought-after feature. Temperature-controlled vaporizers also solve the problem of burning in dry herbs. Since cannabis extracts and oils are relatively expensive, people are opting for temperature-controlled cannabis vaporizers to minimize wastage and increase efficiency. Moreover, the market share for dry herbs was around 64% in 2020, which is only going to increase, as it’s the cheapest mode of vaping.
As per Fact.MR’s latest industry analysis, the global cannabis vaporizer market is anticipated to expand 3.5X its value over the next ten years.
Key Takeaways from Market Study
- Portable cannabis vaporizers hold major share of the global market, and are set to touch US$ 14 Bn valuation by 2031-end.
- Conduction vaporizers is the fastest-growing segment, owing to the relatively inexpensive nature of their design.
- Temperature-controlled cannabis vaporizers to remain highly sought-after across regions, especially North America.
- North America is set to dominate market revenue in 2021, and hold the highest market share by 2031.
- Canada and the United States of America are key countries governing the demand for cannabis vaporizers.
“Market growth is set to surge in accordance with regional policies and growth of the recreational industry,”says a Fact.MR analyst.
Fragmented High Potential Market: Competition Tuning Factor
Key manufacturers of cannabis vaporizers across the world that have been detailed in the report are PAX Labs, Inc., STORZ & BICKEL GmbH & Co. KG, Arizer, Apollo Vaporizers Inc., KandyPens, Inc., SLANG Worldwide Inc., DaVinci, Ghost Herbal Concepts Ltd., Grenco Science, and Boundless Technology LLC. The global market is fragmented in nature, with thousands of players positioned across the regions of North America and Europe.
Growing demand for cannabis vaporizers has made the market valuation grow considerably over the past half-decade of 2016 to 2020. Despite market fragmentation, high potential of the product has attracted new players across regions into the market.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cannabis vaporizer market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product type (portable/handheld and table top), heating method (convection, conduction, and induction), ingredient (dry herbs, cannabis, and wax), usage (medical purposes and recreational purposes), and distribution channel (offline and online), across four major regions of the world (North America, Europe, Asia Pacific, and the Rest of the World).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Consumer Goods team at Fact.MR help clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Consumer Goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Consumer Products