The global handheld marijuana vaporizers market is estimated to be valued at ~US$ 5 Bn and expected to expand at a CAGR of ~19.0% during the forecast period of 2019-2029. The increasing use of marijuana for medical purposes is driving the demand for laboratory testing services.
The marijuana plant contains chemicals (cannabinoids) which helps to treat a range of illness such as HIV/AIDS, multiple sclerosis (MS) etc. Legalization of marijuana for medical usage by governments is further anticipated to boost the handheld marijuana vaporizers market.
Furthermore, shifting trend towards the usage of vaporizers has increased the demand for handheld marijuana vaporizers. Handheld marijuana vaporizers are surging in popularity owing to its portable nature, discrete method of consumption, and convenience. In 2019, worldwide sales of handheld marijuana vaporizers, mostly contributed by conduction vaporizers saw an upswing, as compared to convection vaporizers.
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Stringent Government Regulations across Regions to Impede Handheld Marijuana Vaporizers Market
Strict rules and regulations related to marijuana usage in various countries is anticipated to be a restraining factor for the growth of the handheld marijuana vaporizers market. According to the American Civil Liberties Union, marijuana arrests account for more than half of all drug arrests in the United States.
This restrains the growth of the handheld marijuana vaporizers market, particularly in the Middle East and some parts of Asia Pacific where it is banned. Besides, availability of low cost substitutes is also expected to impact the growth of the market during the forecast period.
Key Takeaways of Global Handheld Marijuana Vaporizers Market
- North America is expected to lead in the global handheld marijuana vaporizers market due to the presence of good medical infrastructure and accelerated growth in medical research activities.
- Conduction vaporizers are gaining popularity vis-à-vis convection vaporizers owing to its beneficial properties such as low product price, size and portability. Conduction vaporizers accounted for ~82% in 2018.
- Offline sales of handheld marijuana vaporizers will gather momentum during the forecast while online sales channel will see a rapid growth trajectory at a CAGR of (~16.5%). Handheld marijuana vaporizers are relatively new in the market and require certain permits which will limit its availability through online channels.
Who is Winning
The report highlights some prominent players in the global handheld marijuana vaporizers market are Davinci Vaporizers, PAX Labs Inc., etc. Companies are investing in R&D to come up with innovative products in handheld marijuana vaporizers category. For instance,
- Firefly, a weed tech startup in California offers smart vaporizers (Fitrefly 2+) of ~US$ 250 which can regulate the cannabis temperature with app enabled precision and produces zero waste.
- Now companies are continuously adding new features or technology such as one-button control, ceramic heating chamber, smartphone app compatibility, removable battery etc.
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Handheld Marijuana Vaporizers Market Taxonomy
The global handheld marijuana vaporizers market is segmented in detail to cover every aspects of the market and present a complete market intelligence approach to readers.
By Product
- Convection Vaporizers
- Conduction Vaporizers
By Charger
- USB
- Micro USB
By Temperature Control
- Fixed
- Variable
By Sales Channel
- Online
- Offline
By Region
- North America
- South America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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