Wilmington, Delaware, United States, March 18, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global handheld marijuana vaporizer market was projected to attain US$ 5 billion in 2021. It is anticipated to garner a 13.4% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 15.9 billion by 2031.
The marijuana vaporizer is used for medicinal purposes. Tetrahydrocannabinol, or THC, is an ingredient in marijuana that is used to help people feel less discomfort. A vaporizer is a battery-operated gadget used to heat cannabis and concentrate. These gadgets generally consist of a mouthpiece, an oven, and a battery.
Since they heat cannabis to pure cannabinol (CBN), vaporizers are quite popular since they release tetrahydrocannabinol (THC) without burning the plant. This fuels the global need for handheld marijuana medical vaporizers.
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Global Handheld Marijuana Vaporizer Market: Key Players
Key players are investing much in research and development of the finest cannabis vaporizers in order to increase their handheld marijuana vaporizer market share. A couple of the main tactics used by market participants include product portfolio expansion and mergers and acquisitions.
The following companies are well-known participants in the global handheld marijuana vaporizer market:
- STORZ & BICKEL GmbH & Co.
- Arizer
- Ghost Herbal Concepts Ltd.
- Davinci
- PAX Labs, Inc.
- FireFly
- Crafty
- Planet of the Vapes
- Boundless CF/CFX
- MyNextVape
Key Findings of the Market Report
- Portable vapes are significantly more unobtrusive when used and carried, hence propelling the handheld mariuana vaporizer market.
- Often, the vapor they release is not as noticeable or odorous as joint or pipe smoke.
- Due to the small form, the storage and travel of these devices are also made simple.
- A well-liked and portable vaporizer is the vape pen.
- Unless they are disposable, the majority of pens need to be charged often. However, certain pens, like the Pax 3 or Firefly 2, can vape both flower and concentrates (oils and waxes).
Market Trends for Handheld Marijuana Vaporizers
- Convection, conduction, and hybrid vaporizers are the three product categories in the global market for handheld marijuana vaporizers. In order to dissipate things safely at a distance, convection vaporizers need pushed air to generate heat. They are not dependent on getting into touch with the substance directly. Hot air crystallizes the substance before it reaches the point of combustion.
- In 2021, the handheld marijuana vape market was dominated by conduction vaporizers, accounting for around 85% of the market. Cannabis is evenly heated in conduction vaporizers, which improve flavor and regulate temperature to keep the plant from burning. Patients find conduction vaporizers to be quite inexpensive and simple to use. In addition, they heat plants far more quickly than convection vaporizers.
Global Market for Handheld Marijuana Vaporizer: Regional Outlook
- In 2021, the market for handheld marijuana vaporizer was dominated by North America. Over the course of the projected period, the region is anticipated to continue to dominate.
- Due to the country's favorable laws allowing the use of cannabis vaporizers, the industry in the United States is predicted to expand dramatically. This market is heavily influenced by regional politics in addition to consumption. Twelve states in the United States had legalized cannabis for recreational use as of 2022. There is a growing movement in other parts in the nation to legalize cannabis as well.
- The industry for cannabis vaporizers is expanding throughout Europe. The medical use of marijuana is still up for debate in a few of the countries in the region. The government permits the use of cannabis as an alternative medicinal therapy with a valid prescription. Italy produces and grows cannabis products, and it does not impose any restrictions on the sale of medicinal marijuana.
Key developments by the players in this market are:
- The U.S.-based cannabis technology business Firefly introduced Firefly 2 Plus, an app-enabled vape, in April 2019.
- Boundless Technology LLC unveiled CFC Lite, a new CFC product line, in January 2019. The device has three pre-programmed temperature settings, haptic feedback, and a detachable battery.
- In 2023, STORZ & BICKEL GmbH announced the upcoming introduction of the VENTY, an innovative portable vaporizer for dry herbs. Modern heating management and cooling technologies, together with a newly designed convection and conduction heater, boost taste to provide exceptional vapor quality while on the go.
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Global Handheld Marijuana Vaporizer Market Segmentation
Product Type
- Convection Vaporizers
- Conduction Vaporizers
- Hybrid Vaporizers
Charger
- USBs
- Micro USBs
Temperature Control
- Fixed
- Variable
Battery Type
- Replaceable
- Non-replaceable
Material Compatibility
- Dry Herbs
- Cannabis Oil
- Wax
Usage
- Medical Purposes
- Recreational Purposes
Price Range
- Low (Below US$ 50)
- Medium (US$ 50 - US$ 100)
- High (Above US$ 100)
Distribution Channel
- Online
- Offline
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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