Market Size –
The portable cannabis vaporizer market size has grown rapidly in recent years. It will grow from $2.56 billion in 2023 to $2.90 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increasing awareness of health risks, increasing consumer demand for discretion, increasing education, increasing environmental concerns, and increasing research on cannabinoid effects.
The portable cannabis vaporizer market size is expected to see rapid growth in the next few years. It will grow to $4.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to changes in cultural attitudes, growth of the cannabis industry, community events and expos, recreational industry growth, and expansion of online distribution channels. Major trends in the forecast period include the development of longer-lasting batteries, wireless charging, portable extraction systems, advanced sensors, and integration with wearable tech.
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Scope Of Portable Cannabis Vaporizer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Portable Cannabis Vaporizer Market Overview
Market Drivers –
The increasing legalization of cannabis is expected to propel the growth of the portable cannabis vaporizer market going forward. Cannabis refers to a genus of flowering plants known for their psychoactive and medicinal properties, commonly used in various forms such as marijuana and hemp. The rising legalization of cannabis is due to growing recognition of its medicinal benefits, potential for economic growth, and shifting public attitudes toward drug policy reform. A portable cannabis vaporizer helps cannabis users by providing a discreet, convenient, and efficient way to consume cannabis while minimizing harmful byproducts compared to traditional smoking methods. For instance, in January 2024, according to the Government of Canada, a Canada-based federal administration, in 2023, the proportion of individuals purchasing cannabis from legal sources rose to 73%, up from 69% in 2022. Therefore, the increasing legalization of cannabis is driving the growth of the portable cannabis vaporizer market.
Market Trends –
Major companies operating in the portable cannabis vaporizer market are focusing on developing advanced solutions, such as portable cannabis vaporizers, to enhance user experience and meet growing consumer demands. A portable cannabis vaporizer refers to a compact, battery-operated device designed to heat cannabis to a temperature that produces vapor without combustion. For instance, in November 2022, Dr. Dabber, a US-based developer of smoking and vaping, launched the XS Nano eRig, a cannabis vaporizer designed for portability and convenience, making it suitable for use in various settings, from road trips to outdoor events. It offers unique features such as a direct flavor pathway for enhanced taste, temperature-controlled resistance (TCR) for customizable heat settings, a compact and portable design, a spill-proof construction for ease of use on the go, and an impressive battery life that allows for up to 35 heating cycles on a single charge.
The portable cannabis vaporizer market covered in this report is segmented –
1) By Heating Method: Conduction, Convection, Hybrid
2) By Power Source: Battery, Battery Free
3) By Price Range: Low, Medium, High
4) By Usage: Medical Purpose, Recreational Purpose
5) By Distribution Channel: Online, Offline
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Regional Insights –
North America was the largest region in the portable cannabis vaporizer market in 2023. The regions covered in the portable cannabis vaporizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the portable cannabis vaporizer market are PAX Labs Inc., VaporFi Inc., Storz & Bickel GmbH & Co. KG, TVAPE Inc., Magic-Flight Inc., Dynavap LLC, Arizer Inc., Linx Vapor Inc., Grenco Science Inc.., KandyPens Inc., Mig Vapor Inc., Vuber Technologies Inc., Yocan Technology Co Ltd., Planet of the Vapes LLC, Focus V Technologies Inc., AtmosRx LLC, The Kind Pen LLC, Dr. Dabber Inc., Apollo Cannabis Clinics, Vivant Inc.
Table of Contents
1. Executive Summary
2. Portable Cannabis Vaporizer Market Characteristics
3. Portable Cannabis Vaporizer Market Trends And Strategies
4. Portable Cannabis Vaporizer Market – Macro Economic Scenario
5. Global Portable Cannabis Vaporizer Market Size and Growth
….
32. Global Portable Cannabis Vaporizer Market Competitive Benchmarking
33. Global Portable Cannabis Vaporizer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Portable Cannabis Vaporizer Market
35. Portable Cannabis Vaporizer Market Future Outlook and Potential Analysis
36. Appendix
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