Popularity of Conduction Vaporizers Increases the Market of Handheld Marijuana Vaporizers
Conduction vaporizers are more popular in handheld marijuana vaporizers market as compared to convection vaporizers due to its portable size, low price, instant heating capability etc. Conduction vaporizers have more control over the heat produced during vaporization.
Conduction vaporizers need less maintenance than convection vaporizers. Moreover, users get a strong hit as compared to convection vaporizers. All these factors drive the conduction vaporizers in handheld marijuana vaporizers market which holds more than 85% market share in 2019.
Popularity of Vaping Increasing the Uptake of Handheld Marijuana Vaporizers
Marijuana vaping is the new trend among consumers. Vaping is a popular choice for medicinal marijuana users as it provides pain killing abilities from tetrahydrocannabinol (THC). In U.S., Vaping THC is considered as the third most popular way to use cannabis. Even, vaped oil holds in between 31%-39% of all cannabis product used in a year in U.S. Vaporizers are easy to carry, and provide stronger effects as compared to smoking marijuana.
Advancement in technology also attracts the users such as cannabis temperature control, integration with smartphone application etc. Shifting preference from marijuana smoking to vaping has become the ongoing trend among consumers. Handheld marijuana vaporizers allow flowers, oil and concentrates to be used into it as a raw material. Hence, multifunctional use of handheld marijuana vaporizers is gaining traction globally.
Rampant Demand for Marijuana Vaporizers in Medical Usage
The cannabis industry has opened up a plethora of opportunities for biotech and pharmaceutical companies. As per an independent study, cannabis-based pharmaceuticals will surge US$8.28 billion in 2017 to around US$28.1 billion within the next five years. The increasing awareness of cannabis medical applications has created opportunities for the medical industry.
Cannara Biotech, a Canadian biotech company, currently has three pet-specific patents in development which are derived from CBD. As the governments of countries will recognize more benefits of CBD, the market for medical marijuana will flourish in the future.Growing awareness about the benefits of CBD skin care products has boosted thier adoption by the personal care industry.
How Growth will Unfold
The global handheld marijuana vaporizers market is primarily concentrated in developed economies such as North America, and Europe. North America holds the highest growth rate in handheld marijuana vaporizers market as compared to other regions. Europe is likely to hold a significant revenue share of ~20% in 2019 in global handheld marijuana vaporizers market. Due to regulatory issues, most of the economies have not legalized the sale of marijuana which restricts the growth of handheld marijuana vaporizers.
Growing legalization in U.S. and Canada have sparked the demand for marijuana products such as flowers, cannabis concentrates etc. This will result in increased opportunity for handheld marijuana vaporizers. Strict laws and regulations related to marijuana have hit sales in Asia Pacific and Middle East Countries. Argentina has been seen with the highest sales for handheld marijuana vaporizers among Latin American Countries.
FREQUENTLY ASKED QUESTIONS ABOUT HANDHELD MARIJUANA VAPORIZERS MARKET
What is future prospect for the Handheld Marijuana Vaporizers market?
The global handheld marijuana vaporizers market is expected to grow at a rapid pace in Europe & North America owing to the increasing number of consumers for recreational marijuana. The rising trend of marijuana legalization in countries has fueled the handheld marijuana vaporizers market to a new height. Moreover, increasing awareness of cannabis medical applications has also created opportunities for the medical industry.
Which region will lead the global sales of Handheld Marijuana Vaporizers market?
Europe remains the largest shareholder in the global handheld marijuana vaporizers market followed by North America, Latin America and Oceania. Most of the growth will come from developed regions due to growing legalization of recreational marijuana in several countries.
Which product type segment witnesses most lucrative growth opportunities?
Convection vaporizers will register highest growth during the forecast as compared to conduction vaporizers owing to its portable size, low price, instant heating capability etc. Moreover, conduction vaporizers have more control over the heat produced during vaporization which increases its popularity over convection vaporizers.
Which sales channel will be the most lucrative in future?
Online platforms will be the most lucrative sales channel for handheld marijuana vaporizers during the forecast owing to vast product availability on online platforms to compare price, product design & features, secured transaction/ payment and at door step delivery. Moreover, return or exchange policy on online platforms attracts the consumers towards more online purchases for handheld marijuana vaporizers.
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.
Product
- Convection Vaporizers
- Conduction Vaporizers
Charger
- USB
- Micro USB
Temperature Control
- Fixed
- Variable
Sales Channel
- Online
- Offline
Region
- North America
- South America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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