This report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Marijuana Vaporizers have lately found precedence due to increasing legalization of marijuana in major countries and research have concluded that marijuana vaporizers are a healthier alternative to smoking. CBD (Cannabidiol) oil is also seen as a major deterrent to smoking tobacco. The handheld marijuana vaporizers market is projected to grow at a CAGR 23% on a 2017 -2023 forecast period and estimated to reach a market valuation of $25.7 Billion.
With the medical as well recreational advantages of using handheld marijuana vaporizer, the market is sure to see a growth in demand and consumption.
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The following manufacturers are covered:
FGB Natural Products
Marijuana Vaporizers market is segmented into product, temperature control, charger, distribution channel and region.
Based upon product, marijuana vaporizer market is categorized as
- Convection Vaporizer
- Conduction Vaporizer
Based upon temperature control, marijuana vaporizer is categorized as
Based upon Charger, marijuana vaporizer is categorized as
- Micro USB’s
Based upon distribution channel, they are categorized as
The global marijuana vaporizer market can be segmented regionally into five major regions which are
- North America
- South America
- Asia Pacific
- Middle East and Africa
Apart from few states in United States of America, Canada in 2018 legalized Marijuana and is the second country after Uruguay to do so. The rate of consumption in the country has seen an exponential rise with more than 330,000 Canadian’s registering to receive marijuana from producers with government approval and license. Jamaica is another north American country to legalize medical marijuana which provides for major growing market for marijuana vaporizers.
In Europe, countries like Germany, Italy, Israel, Croatia, Macedonia have legalized medical use of marijuana. This approves of a psychological shift in the acceptance of medical and recreational benefits of marijuana in a global stage, thereby establishing a high rate of consumption for marijuana vaporizers in the years ahead for the European market.
Australia is another major economy to legalize medical marijuana.
In South America countries like Colombia, Mexico have also accepted the medical properties of marijuana as useful and have legalized the medical use. There is a huge demand for marijuana vaporizers in these countries as marijuana had already been an accepted form of recreation among the population.
The tremendous medical benefits of marijuana is another driving factor worldwide as more and more countries are researching the health benefits and its role in nullifying smoking habits.
The manufacturers of marijuana vaporizers are experimenting and innovating to expand the supply of cannabis for medical purposes. The onset of Vape pens have driven innovation in the handheld marijuana vaporizer category as CBD vape pens have been known to help cure cold.
The use of vaporizers to ingest marijuana also helps cut down the negative effects of smoking by reducing the amount of carcinogens, toxins and reduce respiratory illness.
Conduction vaporizer’s have a major market share of 85% at the moment because of its cheaper cost and faster burn time. Convection vaporizers on the other hand provide better features such as temperature control, better flavor and even heating.
Production is expected to grow at a rapid pace and portable marijuana vaporizers are one of the most sought after products of the coming decade.
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