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Cannabis Vaporizer Market

Cannabis Vaporizer Market

Cannabis Vaporizer Market By Product Type (Portable, Table Top), By Ingredients (Dry Herbs, Cannabis Oil, Wax), By Usage (Medical Purposes, Recreational Purposes), By Heating Type (Convection Vaporizers, Conduction Vaporizers), By Distribution Channel (Online, Offline)- Global Market Insights 2021 to 2031

Cannabis Vaporizer Market
FACT5785MR
  • Mar-2022
  • List of Tables : 82
  • List of Figures : 123
  • 170 Pages
  • Consumer Goods

About the Report

The global cannabis vaporizer market is projected to expand 3.5X its value from 2021 to 2031, with demand for temperature-controlled cannabis vaporizers rising as the years go by.

Cannabis vaporizers are devices used to heat concentrates or cannabis flowers at temperatures that can turn them into vapour. Cannabis vaporizers are mainly used for medical and recreational purposes. Legalization of vaping for medical and recreational uses in many countries will foster market growth over the coming years.

The recreational industry, which includes pubs and bars, following regional policies, will drive demand for cannabis vaporizers. With recreational avenues fairly popular among young people, cannabis vaporizers are the preferred choice and resonate with the growth of the recreational industry.

Legalization of cannabis in many countries and changes in regional policies are key to the growth of the market. Additionally, consumerism, supply chain, and other factors regarding cannabis vaporizers have been discussed in the recently published report by Fact.MR. Insights have been streamlined in the report in the form of a timeline, where the report is drafted in historical (2016-2020) and forecast terms (2021-2031).

Interested to Procure The Data

Historical Trends Vs. Future Market Projections

Emerging penetration of easy to use portable cannabis vaporizers with growing recreational industries has increased the demand for cannabis vaporizers over the last half-decade. Moreover, the legalization of cannabis recently in many countries such as Canada, Georgia, South Africa, and Uruguay has pushed the growth of the cannabis vaporizer market.

In FY 2020, COVID-19 hit the recreation industry very badly with bans on pubs and bars impacting the demand and supply of cannabis vaporizers as well. The decline in demand for cannabis vaporizers can be aligned with reduced spending on recreational activities.

Since many countries are still struggling with the rise in COVID cases, pubs and bars remain shut in many regions. However, rapid increase in the usage of portable cannabis vaporizers and changes in regional policies is set to foster growth in the coming years.

Forecast period assessment could be done by breaking down the period into three assessable periods i.e., Short-run, medium-run and long-run

Short-Run: COVID-19 has affected the overall recreational industry, and the demand for cannabis vaporizers is set to recover by Q4 of FY2021.

Medium-Run: Increase in usage of portable vaporizers and normalized spending in recreational activities will have a positive effect on the cannabis vaporizers demand.

Long-Run: Economic cycles, inflation rate, technological changes and regional policies for cannabis vaporizers are set to impact the overall market, which has been discussed in detail in the recently published report by Fact.MR.

cannabis vaporizer market region

Country-wise Analysis

Why is the United States an Attractive Market for Cannabis Vaporizer?

The United States is an emerging market for cannabis vaporizers due to the strong positive network externalities of the regional consumers. Apart from consumerism, regional policies have a strong effect on this market.

As of 2022, 12 states in the U.S. have legalized the use of cannabis for recreational purposes, and the demand to legalize the use of cannabis in other states is also rising. Growth of the market in the U.S. is set to mirror the growth of the market in North America.

What Makes Canada a Lucrative Market for Cannabis Vaporizer?

Canada also has a significant role in driving demand for cannabis vaporizers. Since the legalization of cannabis usage in Canada for both recreational and medicinal purposes, the market has seen a boom in the country. The USA and Canada combined now hold a major share in the global market in terms of revenue, making the North America region hold 49.2% of the market as of 2020.

With new technological advancements in cannabis vaporizers, Canada is only going to see a surge in the demand for cannabis vaporizers for both recreational and medicinal purposes.

Why are Sales of Cannabis Vaporizers Increasing across the U.K.?

The United Kingdom will play a major role in the growth of the market in Europe. The United Kingdom has legalized the medicinal use of cannabis vaporizers, which is set to drive the market for the same. Other European countries are also likely to follow suit, as Georgia has already legalized cannabis use and is set to witness high demand for cannabis vaporizers.

An Adaptive Approach to Modern-day Research Needs

Category-Wise Insights

Why are Portable Cannabis Vaporizers Preferred Over Table Top Versions?

Portable cannabis vaporizers hold a larger share of the demand pie as they are easy to carry and allow personalized use for vaporizing herbs and substances. Additionally, technological advancements in portable cannabis vaporizers such as temperature control vaporizers, through which users can control the temperature for optimum taste, will help portable vaporizers dominate the market.

The dominance of portable cannabis vaporizers due to the above-stated reasons and changing regional policies will ensure higher significance of portable cannabis vaporizers over the long-term forecast.

cannabis vaporizer market heating method

Why Will Convection Vaporizers Experience Higher CAGR Even Though Conduction Holds Higher Market Share?

Conduction vaporizers have a higher market share due to being less expensive than convection vaporizers. However, with new technological advancements and the introduction of new convection cannabis vaporizers, which not only stop the substance from burning but also help in temperature control, the demand for convection cannabis vaporizers is increasing.

On the other hand, induction vaporizers are seeing modest growth even though the segment has the least market share in terms of revenue.

What are the Key Barriers for Cannabis Vaporizer Manufacturers?

Cannabis and cannabis extract consumption is still illegal in most countries. Moreover, several countries only legalize the use of cannabis vaporizers for medicinal purposes, which is impacting overall demand.

In addition to the above factors, strict lockdown rules in several countries have limited recreational activities, impacting the demand for cannabis vaporizers.

Cannabis vaporizers, being expensive, and traditional smoking methods still being prevalent in the market, will also act as a barriers to market expansion.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & (000’) Units for Volume

Key Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • and the Rest of the World

Key Countries Covered

  • U.S.
  • Canada
  • U.K.

Key Segments Covered

  • By Product Type
  • By Ingredient
  • By Heating Method
  • By Usage
  • and By Region

Key Companies Profiled

  • PAX Labs Inc.
  • STORZ & BICKEL
  • GmbH & Co. KG
  • Arizer
  • Apollo Vaporizers Inc.
  • KandyPens, Inc.
  • SLANG Worldwide Inc.
  • DaVinci,
  • Ghost Herbal Concepts Ltd.
  • Grenco Science
  • Boundless Technology LLC

Customization & Pricing

Available upon Request

Key Segments Covered

  • By Product Type

    • Portable/Handheld Cannabis Vaporizers
    • Table Top Cannabis Vaporizers
  • By Ingredient

    • Cannabis Dry Herb Vaporizers
    • Cannabis Oil Vaporizers
      • Butane Hash Oil (BHO)
      • CO2 Oil
      • Rick Simpson Oil (RSO)
      • Others
      • Cannabis Wax Vaporizers
      • Shatter Wax
      • Honeycomb Wax
      • Others
  • By Heating Method

    • Convection Cannabis Vaporizers
    • Conduction Cannabis Vaporizers
    • Induction Cannabis Vaporizers
  • By Usage

    • Cannabis Vaporizers for Medical Purposes
    • Cannabis Vaporizers for Recreational Purposes
  • By Distribution Channel

    • Cannabis Vaporizers Sold through Online Channels
    • Cannabis Vaporizers Sold through Offline Channels
  • By Region

    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa (MEA)
    • South America

- FAQs -

The global market is projected to generate US$ 21 Bn, expanding at a CAGR of close to 17% by 2031. However, market growth will strictly depend on regional policies across regions.

Portable cannabis vaporizers are set to hold a major part of the market share, growing at a CAGR of over 17%, while based on heating method, conduction vaporizers are projected to be at the top at a CAGR of 16.5%.

North America currently contributes the maximum share to the overall market. The market share of the North American region in 2020 was 49.2%, owing to new advancements in technologies and legalizing of cannabis in several U.S. states.

De-criminalization of cannabis consumption by many countries for recreational purposes is a major factor that will drive demand for cannabis vaporizers. Moreover, new advancements in portable cannabis vaporizers such as temperature control and battery<

Europe is projected as an emerging and lucrative market for the forecast period of 2021-2031. In most European countries, consumption of cannabis for medicinal purposes is considered legal, which is projected to drive market growth across Europe.

Key stakeholders are opting for organic growth strategies such as innovation, product launches, and product upgradation. Since online mode of distribution accounts for 55% of the total distribution in the cannabis vaporizer market, stakeholders are inc

Manufacturers are investing in innovations such as temperature control, battery levels check using an application, consumption check, etc. Additionally, online mode has become a prominent channel for distribution and accounts for 55% of the total marke

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