Cannabis Vaporizer Market Analysis

Cannabis Vaporizer Market Analysis

Based on type, the market can be segmented into tabletop and portable. The portable cannabis vaporizer segment held a dominant market share of over USD 4 billion in 2023 and is anticipated to grow in the coming years. Portable vaporizers offer a customized experience for users such as precise temperature control that enable individuals to adjust the temperature based on their personal preferences and the specific strain of cannabis being used. This can result in a more enjoyable and tailored experience for the user. In addition to these benefits, these vaporizers are also available with a wide range of options, ranging from sleek and discreet designs to more complex & customizable devices, thus meeting individual needs and preferences.
 

Based on ingredients, the market is categorized into dry herb vaporizers, oil, and hybrid. The dry herb vaporizers segment led the global market, generating around USD 2 billion, in 2023 and is anticipated to grow over the forecast timeframe. Unlike traditional smoking methods, dry herb vaporizers heat up the herbs to a temperature that releases the active ingredients in the form of vapor, rather than burning them and creating smoke. This method not only eliminates the harmful toxins and carcinogens found in smoke, but it also preserves the natural flavor and aroma of the herbs. Furthermore, dry herb vaporizers allow for more control over the temperature, allowing users to customize their experience and achieve the desired effects. This is especially beneficial for medical marijuana patients who need specific temperatures to activate certain compounds for their desired treatment. In addition, using a dry herb vaporizer reduces the amount of waste and mess compared to traditional smoking methods, as the herbs are not burnt and turn into ash.
 

North America dominated the market with over 34% market share in 2023. The North America cannabis vaporizer market is experiencing rapid growth due to the increasing legalization of cannabis for both medical & recreational purposes in various states across the region. As per the National Youth Tobacco Survey, among middle & high school students, 2.8 million (10%) reported current use of a tobacco product in 2023. Additionally, 2.13 million (7.7%) students reported current vape use in 2023. Disposable products were the most used vape device type among youth. As per the National Youth Tobacco Survey 2023, among students who currently used vape, the most reported brands were Elf Bar (56.7%), Esco Bars (21.6%), Vuse (20.7%), JUUL (16.5%), and Mr. Fog (13.6%). As more states legalize cannabis, the demand for vaporizers is expected to continue to rise, making it a lucrative market for manufacturers and retailers in the North America region.