Vaporizers Market: Overview
Smoking tobacco has become one of the daily routines that a general person follows. Negative health effects of smoking tobacco has pushed the governments to put ban on smoking on public places which restricts the sales of tobacco products such as cigarettes. Growing health awareness has also act as one of the drivers to limiting the sale of tobacco. Regulating tobacco use definitely limits the sale of it but has come up with alternative opportunism to consumers such as e-cigarettes, vaporizers etc.
Vaporizers are the electronic devices generates the active compounds of plant material or extracts inserted into it. Vaporizers heat concentrates or dry herbs. Vaporizers are considered as safe as compared to smoking as it does not burn the raw materials. So no potential carcinogens are being consumed by the user. Moreover, vaporizers offer flavorful inhale that is smooth as compared to cigarettes. The growing demand for marijuana is also give a thrust to the sales of vaporizers as marijuana can be consumed in the form of dry herb, oil, concentrates etc. Retailers across U.S. have seen a latest trend of switching of marijuana consumers from pot based smoking method to pot infused foods known as edibles and vaporizer cartridges. Desire for stronger, and healthier marijuana pushed the consumers for new ways to consume marijuana. The change has been noted first in Colorado. Thereafter, the change has been recorded from Colorado to California to Oregon. The growing vaporizer adoption is trending in most of the developed countries, primarily in U.S., Canada and European Countries.
Vaporizers Market: Market Dynamics
Vaping is the latest trend among marijuana or cannabis consumers. Vaporizers are used for both cases – medicinal and recreational purpose. Legalization of marijuana for medical usage by governments is further anticipated to boost the vaporizers market. Demand for recreational marijuana has seen a positive swing in recent past. A major change on marijuana consumption has been noticed. Marijuana consumers prefer to buy vaping products as compared to smoking. Vaporizers are considered less toxic as compared to smoking marijuana. Vaping also offers a strong effect than smoking marijuana which gives a thrust to the sales of vaporizers. The conduction vaporizers are the most popular one as compared to its counterpart. Vaporizes are equipped with temperature control system of heated cannabis which gives smooth and flavorful strong effect. Desire for strong effect has led the vaporizers market forward. The change was first noticed in Colorado. Thereafter, vaporizers adoption or usage have been recorded from Colorado to California to Oregon.
Legalization of consumption and sale of marijuana is the most important factors for vaporizers market to grow. Canada legalized recreational marijuana consumption in 2018. After Uruguay Canada has become the second country to legalize marijuana. Medical use of marijuana is legal in most of the countries however sales will be derived primarily from recreational marijuana. Stringent laws and regulation however restrict the usage of marijuana. Many studies also found the use of vaporizers can cause critical illness to the consumers. In 2019, 34 people died and more than 1600 were critically fallen ill in U.S. alone due to the use of vaping products which caused lung illness.
Across the world, medicinal usage of marijuana will be increased after the awareness of medicinal properties. Many countries have already legalized medical usage of marijuana such as U.S., Canada etc. The growing acceptance and demand from consumer’s side propels the cannabis market worldwide which is resulting in the sales of vaporizers in the market. However, strict regulations have restricts the market growth. Medicinal usage of marijuana is still to emerge in many countries. THC and CBD are the two cannabinoids from marijuana plant that are of medical interest. The FDA has approved a CBD-based liquid medication named Epidiolex for treating two forms of severe childhood epilepsy, Lennox-Gastaut syndrome and Dravet syndrome. The medicinal properties will lead to various opportunities of marijuana in the untapped market which can furthermore help the legalization of marijuana or cannabis industry in idle countries. Even other than medicinal usage, people are opting marijuana vaporizer as it is much more safer than smoking.
Vaporizers Market: Market Segmentation
The vaporizers market is segmented into different categories based on the product type, heating method, price, consumable type, heat up time, sales channel and region.
Based on product type, the vaporizers market is segmented into:
Based on heating method, the vaporizers market is segmented into:
Based on price, the vaporizers market is segmented into:
Based on consumable type, the vaporizers market is segmented into:
Based on heat up time, the vaporizers market is segmented into:
Based on sales channel, the vaporizers market is segmented into:
Vaporizers Market: Regional Outlook
The vaporizers market has experienced an upswing in demand and is expected to expand mostly in developed regions owing to higher consumers demand for vaping products and marijuana legalization in several countries. The need for vaporizers is primarily derived from Europe, North America, and Asia Pacific Countries. Together with East Asia and South Asia, surpasses the vaporizers market of Europe and North America. Europe is accounted for the highest value share in 2019, while East Asia has registered a high growth during the forecast, 2019-2029. France, Italy, Germany, and the UK are considered to contribute a significant share in the European vaporizers market. East Asia market is primarily driven by China and Japan owing to the high sales of motorcycles. South Asia is also expected to hold a significant share in the global Vaporizers market. India remains the major country to contribute the highest share amongst all countries in the region. The Middle East & Africa (MEA) and Oceania are expected to grow with a modest growth rate during the forecast.
Vaporizers Market: Key Players
The global vaporizers market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on innovation and new product development. Some of the key players in vaporizers market are DaVinci, PAX Labs Inc., Ghost Vapes Inc., SLANG Worldwide Inc., Vapium Inc., STORZ & BICKEL GmbH, Boundless Technology and others.