WILMINGTON – The global handheld marijuana vaporizer market is prognosticated to reach a value of US$ 15.9 Bn by 2031, according to a research report by Transparency Market Research (TMR). Additionally, the assessment by TMR highlights that the market is expected to expand at a CAGR of 13.4% during the forecast period, 2022 to 2031.
According to the handheld marijuana vaporizer market research by TMR, the demand for dry and conduction herb vaporizers is being increasing in the recent years. Moreover, the launch of differed innovative products including wax pens and cannabis oil is anticipated to create lucrative prospects for marijuana vaporizer manufacturers, notes a TMR report.
At present, there are different types of dry herb vaporizers available in the market including conduction vaporizers, hybrid vaporizers, and convection vaporizers. The TMR study on the handheld marijuana vaporizer market notes that the demand for such vaporizers is being increasing in the recent years owing to their different advantages including the minimal cleaning requirement, which is restricted to the chamber/tank and mouthpiece.
Portable vapes are gaining traction due to their several advantages including their easy to use and carry nature, state analysts of a TMR assessment on the handheld marijuana vaporizer market. This aside, the vapor these devices release is generally not as visible or smelly as other options including pipe or joint smoke. Moreover, the compact design of these devices makes them convenient during traveling as well as storage. Among all options, vape pen is one of the most popular portable vaporizer available today.
Handheld Marijuana Vaporizer Market: Key Findings
- The government authorities of several developed nations such as the U.S. are providing approval for the use of marijuana for medical purposes. Moreover, many regulatory bodies are making amendments in the legal framework in order to allow the medicinal use of marijuana. These factors are expected fuel the growth prospects in the global handheld marijuana vaporizer market during the forecast period.
- Companies operating in the marijuana vaporizer market are focusing on spreading awareness pertaining to different health advantages of medicinal marijuana. Moreover, several enterprises are investing sizable amounts in R&Ds in order to address vital issues including the limitations of conduction and convection vaporizers. In addition, many researches are focused on the discovery of best weed vaporizers, note analysts of a TMR report. This aside, major players are increasing their production capabilities in portable vaporizers in order to fulfil the rising market demands. Such factors are projected to help in the expansion of the handheld marijuana vaporizer market share during the forecast period.
Handheld Marijuana Vaporizer Market: Growth Boosters
- Increase in the use of cannabis across the globe for medical purposes is expected to boost the growth of the handheld marijuana vaporizer market.
- Surge in the demand for conduction vaporizers due to their features including ability to provide better flavor, ease of use, and even heating is fueling the market growth.
Handheld Marijuana Vaporizer Market: Regional Analysis
- The handheld marijuana vaporizer market in North America is expected to uphold its leading position during the forecast period owing to factors such as the presence of favorable regulations in the U.S. that allow the cannabis vaporizers use in the nation.
- The market is expected to gain sizable avenues for growth in Europe during the forecast period as marijuana is technically legal in several regional nations such as Italy.
Handheld Marijuana Vaporizer Market: Key Players
Some of the key players profiled in the report are:
- STORZ & BICKEL GmbH & Co.
- Ghost Herbal Concepts Ltd.
- PAX Labs, Inc.
- Planet of the Vapes
- Boundless CF/CFX
Handheld Marijuana Vaporizer Market Segmentation
- Product Type
- Convection Vaporizers
- Conduction Vaporizers
- Hybrid Vaporizers
- Temperature Control
- Battery Type
- Material Compatibility
- Dry Herbs
- Cannabis Oil
- Medical Purposes
- Recreational Purposes
- Price Range
- Low (Below US$ 50)
- Medium (US$ 50 – US$ 100)
- High (Above US$ 100)
- Distribution Channel
- North America
- Asia Pacific
- Middle East & Africa
- South America
(This information is primarily sourced from Transparency Market Research. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).