Exploring the Rise of Vape Pens in the Cannabis Industry and the Challenges Ahead

1.5 min readPublished On: April 19th, 2023By

LOS ANGELES– Cannabis vape pens have emerged as one of the most popular cannabis products due to their convenience, ease of use, and discreetness. According to a report by Headset, vapes were the second-most popular cannabis category, behind only flower, accounting for 23.6% of total sales in 2022. Among US states, Illinois had the largest market share of vapes, followed closely by Florida and California. However, even states with the lowest representation of vapes still saw the product category making up a significant portion of overall sales.

Cartridges are the most popular type of vape product, though disposables are on the rise as recreational programs open and casual consumers seek the convenience of not having to buy a battery to go with their cart. Live rosin vapes, made through a solventless process, are also gaining in popularity as dispensaries create more awareness around solventless cannabis products.

The rise in cannabis concentrates, which offer a more intense and longer-lasting high than traditional cannabis flower, has also contributed to the growth of the cannabis vape market. However, the growing popularity of cannabis vape pens has raised concerns about their safety. In 2019, there was a significant increase in cases of lung illness associated with the use of vapes containing vitamin E acetate. To address these concerns, many legal cannabis markets implemented stricter regulations on vapor pen products.

Despite these concerns, Headset predicts that sales of vapes will continue to increase, with new product innovations and expanding legalization driving growth in the industry. However, the market could always face challenges from creeping competition and future regulatory changes. While businesses may lose margins due to price compression, consumers will continue to enjoy the convenience of cannabis vape pens in a market that is projected to see continued growth.

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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