PUBLISHER: Acute Market Reports | PRODUCT CODE: 1388493
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1388493
The cannabis vaporizers market is expected to grow at a CAGR of 17% during the forecast period of 2023 to 2031, driven by changing regulations, technological innovations, and increasing health consciousness among consumers. However, it faces challenges related to standardization. The cannabis vaporizers market is poised for robust growth as it rides the waves of changing regulations, technological innovations, and shifting consumer preferences. The evolving regulatory landscape, with more countries and states embracing cannabis legalization, offers a promising horizon for vaporizer manufacturers. As the forecast period from 2023 to 2031 unfolds, the portable segment is expected to surge, catering to the rising demand for convenience and on-the-go cannabis consumption. Technological advancements have propelled vaporizers into the mainstream, with features like precision temperature control and sleek design enhancing user experiences. Convection heating, offering efficient and consistent vaporization, is set to dominate the market, providing consumers with a superior vaping experience. However, the industry must address the lack of standardization to ensure consumer trust and sustained growth. Geographically, North America continues to be a dominant force, while Europe, Asia-Pacific, and Latin America show promising potential for expansion. Competition among market leaders and new entrants promises innovation and diversity in product offerings, benefiting consumers. In conclusion, the cannabis vaporizers market is poised for dynamic growth in the coming years, driven by regulatory changes, technological advancements, and health-conscious consumers. While challenges persist, the industry's adaptability and commitment to quality are expected to propel it forward.
The evolving regulatory landscape surrounding cannabis is a significant driver of the vaporizer market. As more countries and states legalize recreational and medicinal cannabis, consumers seek safer and more discreet consumption methods. Vaporizers offer a smoke-free alternative, aligning with the increasing health consciousness among consumers. For example, Canada expanded its legal cannabis market in 2022, and this trend is expected to continue in the forecast period from 2023 to 2031.
Continuous technological innovations are driving the vaporizer market. Manufacturers are introducing advanced features such as precision temperature control, smartphone connectivity, and sleek design, making vaporizers more user-friendly and appealing to a broader audience. In 2022, companies like Pax Labs and Storz & Bickel launched state-of-the-art vaporizers, contributing to their high revenues. Convection heating, providing efficient and even vaporization, is expected to have the highest CAGR during the forecast period of 2023 to 2031. These advancements enhance user experience and attract tech-savvy consumers.
Growing health awareness and concerns about the adverse effects of smoking have encouraged consumers to switch to vaping as a healthier alternative. Vaporizers heat cannabis at lower temperatures, reducing harmful toxins and carcinogens associated with combustion. This health-conscious trend is expected to drive the tabletop segment, which had the highest revenue in 2022, into the forecast period. Consumers are willing to invest in premium tabletop vaporizers like the Volcano Hybrid, which offers precise temperature control for a customizable vaping experience.
A notable restraint in the cannabis vaporizers market is the lack of standardization and quality control. The industry is still relatively young, leading to variations in product quality and safety standards. Consumers often face challenges in discerning between high-quality and subpar vaporizers. This inconsistency can hinder market growth, as it erodes consumer trust and may lead to health concerns. Addressing this restraint is crucial to maintaining the market's credibility and ensuring sustained growth.
In 2022, the cannabis vaporizers market exhibited a clear divide in consumer preferences between portable and tabletop vaporizers. The tabletop segment, characterized by premium pricing and advanced features, commanded the highest revenue percentage in 2022. Vaporizers like the Volcano Hybrid, known for their customizable temperature control and consistent vapor quality, appealed to consumers seeking an immersive vaping experience. However, the portable segment is poised for dynamic growth, driven by convenience and the increasing acceptance of on-the-go cannabis consumption during the forecast period from 2023 to 2031.
In 2022, consumer preference for heating methods was evident in the cannabis vaporizers market. Convection heating, known for its efficiency and even vaporization, garnered significant attention and contributed to the highest revenue in 2022. As we look ahead to the forecast period from 2023 to 2031, convection heating is expected to maintain its position with the highest CAGR of 12%. The efficiency and consistent vapor quality it offers continue to attract discerning consumers seeking an elevated vaping experience. Conduction and induction methods, though still relevant and widely used, are projected to experience more moderate growth during the forecast period.
Geographically, North America dominated the cannabis vaporizers market in 2022, both in terms of the highest revenue percentage and CAGR. The region's mature cannabis market and ongoing legalization efforts continue to drive demand. As we move into the forecast period from 2023 to 2031, North America is expected to maintain its prominence, with a high CAGR. Additionally, Europe is experiencing significant growth, primarily due to expanding cannabis legalization in various countries, with a high expected CAGR during the forecast period. Asia-Pacific and Latin America are also emerging as potential growth markets, driven by evolving regulations and increasing consumer awareness.
In 2022, market leaders such as Pax Labs, Storz & Bickel, Apollo AirVape, Arizer, Grenco Science, Boundless Technology, KandyPens, Inc, O.pen-Slang Worldwide, and DynaVap dominated the market with substantial revenues. These companies are expected to maintain their market dominance from 2023 to 2031. Key strategies include product innovation, partnerships with cannabis producers, and expanding distribution networks to reach a wider consumer base, reflecting the competitive landscape's dynamism. Additionally, new entrants are expected to intensify competition in the market, focusing on innovative product offerings and competitive pricing. This increased competition is likely to foster further innovation and benefit consumers with a wider range of choices.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofCannabis Vaporizers market are as follows:
Micro and macro environment factors that are currently influencing the Cannabis Vaporizers market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
TABLE 6 Global Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 7 Global Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 10 Global Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 11 North America Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 16 North America Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 17 North America Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 20 North America Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 21 U.S. Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 26 U.S. Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 27 U.S. Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 30 U.S. Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 31 Canada Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 36 Canada Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 37 Canada Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 40 Canada Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 41 Rest of North America Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 46 Rest of North America Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 47 Rest of North America Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 50 Rest of North America Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 51 UK and European Union Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 56 UK and European Union Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 57 UK and European Union Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 60 UK and European Union Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 61 UK Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 66 UK Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 67 UK Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 70 UK Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 71 Germany Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 76 Germany Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 77 Germany Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 80 Germany Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 81 Spain Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 86 Spain Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 87 Spain Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 90 Spain Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 91 Italy Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 96 Italy Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 97 Italy Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 100 Italy Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 101 France Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 106 France Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 107 France Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 110 France Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 111 Rest of Europe Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 116 Rest of Europe Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 117 Rest of Europe Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 120 Rest of Europe Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 121 Asia Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 126 Asia Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 127 Asia Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 130 Asia Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 131 China Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 136 China Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 137 China Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 140 China Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 141 Japan Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 146 Japan Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 147 Japan Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 150 Japan Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 151 India Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 156 India Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 157 India Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 160 India Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 161 Australia Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 166 Australia Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 167 Australia Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 170 Australia Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 171 South Korea Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 176 South Korea Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 177 South Korea Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 180 South Korea Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 181 Latin America Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 186 Latin America Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 187 Latin America Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 190 Latin America Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 191 Brazil Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 196 Brazil Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 197 Brazil Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 200 Brazil Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 201 Mexico Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 206 Mexico Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 207 Mexico Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 210 Mexico Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 211 Rest of Latin America Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 216 Rest of Latin America Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 217 Rest of Latin America Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 220 Rest of Latin America Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 221 Middle East and Africa Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 226 Middle East and Africa Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 227 Middle East and Africa Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 230 Middle East and Africa Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 231 GCC Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 236 GCC Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 237 GCC Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 240 GCC Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 241 Africa Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 246 Africa Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 247 Africa Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 250 Africa Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
TABLE 251 Rest of Middle East and Africa Cannabis Vaporizers Market By Type, 2021-2031, USD (Million)
TABLE 256 Rest of Middle East and Africa Cannabis Vaporizers Market By Recreational Purpose, 2021-2031, USD (Million)
TABLE 257 Rest of Middle East and Africa Cannabis Vaporizers Market By Price, 2021-2031, USD (Million)
TABLE 260 Rest of Middle East and Africa Cannabis Vaporizers Market By Offline, 2021-2031, USD (Million)
FIG. 13Market Positioning of Key Cannabis Vaporizers Market Players, 2022
FIG. 14Global Cannabis Vaporizers Market - Tier Analysis - Percentage of Revenues by Tier Level, 2022 Versus 2031