Cannabis Vaporizer Market Share 2023 | Industry Size, Growth, Trends and Forecast 2030
Market Synopsis: Global Cannabis Vaporizer Market
A cannabis vaporizer as a device designed to heat cannabis. The vaporizers use different types of heating mechanisms to extract the cannabinoids from the plant and convert them into vapour. The cannabis vaporizer market witnessing significant growth due to increasing the legalization of cannabis in several regions. Rising awareness among the consumers regarding health benefits of the cannabis and its growing medical applications. The cannabis vaporizer are used as medical purpose as well as recreational purpose. The advanced technology used in portable vaporizer so that a consumer can control the temperature and use according to his taste. These are the some major factors which propel the growth of the global cannabis vaporizer market during the forecast period, 2022 -2030.
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Impact of Covid-19 pandemic on market
COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation’s population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.
Market Dynamics: Global Cannabis Vaporizer Market
The major factor which drive the growth of the global cannabis vaporizer market is legalization of cannabis which allowed people to practice safe substance usage along with its medical benefits. As a result, many nations are gradually legalizing the usage of cannabis worldwide.
However, the complex regulatory structure for the usage of cannabis and strict regulatory norms related to production and sales of cannabis across various countries could be tedious for manufacturers. These are some major factors which might hinder the growth of the global cannabis vaporizer market during the forecast period.
As most countries in Europe, North America and South America are legalizing cannabis, also there is a huge opportunity for the initialization and legalization of cannabis in Asia Pacific. As various countries in the Asia Pacific region could be potential low-cost producers of cannabis with high capacity of production.
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Market Segmentation: Global Cannabis Vaporizer Market
The global cannabis vaporizer market is segmented on the basis of ingredient, type, distribution channel, usage, and regions.
The global cannabis vaporizer market is segmented based on usage as medical and recreational. The recreational segment dominated the global cannabis vaporizer market during the forecast period owing to high demand and consumption of cannabis for recreational purpose.
Based on type, the target market is segmented into Portable and desktop. The segment is expected to grow with higher CAGR during the forecast period as it is easy to carry and allow personalized use for vaporizing substances and herbs. Moreover, adoption of advanced technology in portable cannabis vaporizers such as temperature control vaporizers, by which users can control the temperature for optimum taste, help portable vaporizers dominant the cannabis vaporizer market.
Regional Overview: Global Cannabis Vaporizer Market
In the region, the global Cannabis Vaporizer market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the major portion of the market share approx. 49% of the global market. Increasing the usage of portable vaporizers is one of the major reason for the growth of the cannabis vaporizers market and it is projected to continue to drive the market over the forecast period. The usage of cannabis is legal in the Canada for both recreational and medical purposes, projected to expand at a significant growth during the estimated period.
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Competitive Landscape: Global Cannabis Vaporizer Market
The key players operating in the global Cannabis Vaporizer market include PAX Labs, Inc, STORZ & BICKEL GmbH & Co. KG, Boundless Technology LLC., Hexo Corp., Arizer, Apollo Vaporizers Inc., DaVinci, KandyPens, Inc., SLANG Worldwide Inc., Grenco Science, Green Thump Industries, Ghost Herbal Concepts Ltd and other players. The market players are investing in product innovation to expand their product portfolio and to increase their customer base. Moreover, a large number of manufacturers are involved with local distributors to increase their presence in the market. The significant efforts of major players are anticipated to accelerate the global cannabis vaporizer market growth in the forecast period, 2021-2028.
Detailed Segmentation: Global Cannabis Vaporizer Market
|
Attribute |
Details |
|
The base year for estimation |
2021 |
|
Forecast period |
2022 – 2030 |
|
Market representation |
Revenue in USD Million & CAGR from 2022 – 2030 |
|
Market Segmentation |
By Ingredient – Wax, Dry herbs, Cannabis oil. By Type – Portable, Desktop. By Distribution channel – Online and Offline. By Usage – Medical purpose, Recreational purpose |
|
Regional Scope |
North America – U.S., Canada Europe – Germany, UK, Spain, France, Italy, Russia, Rest of Europe Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America – Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028. For the purpose of this study, analyst has segmented the global cannabis vaporizer market report based on the ingredient, type, distribution channel, usage, and region.
Global Cannabis Vaporizer Market, By Ingredient:
- Wax
- Dry herbs
- Cannabis oil
Global Cannabis Vaporizer Market, By Type:
- Portable
- Desktop
Global Cannabis Vaporizer Market, By Distribution channel:
- Online
- Offline
Global Cannabis Vaporizer Market, By Usage:
- Medical purpose
- Recreational purpose
Global Cannabis Vaporizer Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Company Profile:
- Abbott Laboratories*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- PAX Labs, Inc
- STORZ & BICKEL GmbH & Co. KG,
- Boundless Technology LLC.
- Hexo Corp.
- Arizer
- Apollo Vaporizers Inc.
- DaVinci
- KandyPens, Inc.
- SLANG Worldwide Inc.
- Grenco Science
- Green Thump Industries
- Ghost Herbal Concepts Ltd
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