Handheld Marijuana Vaporizer Market Projected To Experience Major Revenue Boost During The Period Between 2020-2027

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Handheld Marijuana Vaporizer Market
Handheld Marijuana Vaporizer Market

The global handheld marijuana vaporizer market is experiencing a significant growth, and is expected to grow considerably in the next few years owing to the rise in consumption of marijuana and its increasing usage in treatment of neurological disorder. A marijuana vaporizer is a battery operated tool designed to heat cannabis and concentrates. The major components of the body of marijuana vaporizer include the battery-the oven and the mouthpiece. The body ranges in shape and sizes, from model to model and from manufacturer to manufacturer. Consumers want to smoke two ingredients, THC and CBN, when they smoke marijuana. Even though customers usually end up consuming the herb, in which toxic carcinogens are present. Vaporizers are ideal as they only heat up the cannabis until pure THC and CBN’s are emitted, without burning the weed itself. It makes vaporizers a wise and safer way of consuming marijuana. Because no burning is required for vaporizing, the consumer benefits directly from active compounds in the plant-such as THC, CBD and terpenes, without any smoke, tar or ash. Thus it makes vaporization preferable to smoking not just in terms of substances that are inhaled, but also in terms of flavor.

Market scope and structure analysis:

                    Report Metric                                                   Details
  Market size available for years   2020–2027
  Base year considered   2019
  Forecast period   2021–2027
  Forecast units   Value ($US)
  Segments covered Product Type, Charger, Temperature Control, Distribution Channel, and Region
  Regions covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
  Companies covered Ghost Herbal Concepts Ltd., Davinci, STORZ & BICKEL GmbH & Co., FireFly, Crafty, PAX Labs Inc., Planet of the Vapes, Boundless CF/CFX, MyNextVape, Arizer

 

COVID-19 Scenario Analysis: 

The world wide pandemic occurrence has significantly reduced the frequency of purchase of electrical and electronics products and increased the lead time delivery of goods. COVID-19 outbreak has created scarcity of labor supply, raw materials, and availability of other components due to which production of handheld marijuana vaporizer has been hampered. The impaired supply chain and distribution network are some of the challenges that the industry are focusing on. The end of the lockdown in the countries may bring Handheld Marijuana Vaporizer market significant higher consumer traffic. In post covid 19 scenarios the sale of Handheld Marijuana Vaporizer may be increased from e-commerce platform. The companies need to develop such strategies to change the design of their supply chain and production policies or plans in tandem with the changing business environment.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis

The increased in consumption of marijuana to cure neurological disorders has increased the usage of handheld marijuana vaporizers. Marijuana is among the best anti-depressants commercially available. Earlier to herb legalization, people used to smoke marijuana just to get high and overcome their depression, stress and anxiety. The excessive use of the herb, though, made them addictive. Since the legalization of marijuana, the health care industry now prescribes a small dosage of cannabis to treat the mental conditions of the patient. This development in the healthcare sector is also a key growth driver for the global handheld marijuana vaporizer market during the forecast period. In addition, due to the urge of getting rid of hectic lifestyle the millenials are increasing the demand of compact, handheld and effective marijuana vaporizer.

The global Handheld Marijuana Vaporizer market trends are as follows:

New product launce to flourish the market

New products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. The companies are engaged in R&D of innovative handheld marijuana vaporizer. They try to enhance the portability, heating ability, durability along with elegant design. For example, in January 2020, Tilray launched all-in-one THC vap pen. This product offers fast-acting effects from THC. It contains a broad spectrum with high potency THC concentrate. Charging device, grinders or other tool are not required in it, one can simply inhale and have to wait up to 10 minutes for the cannabinoids to take effect. Besides introducing new products companies are focusing on expanding their distribution channel toward e-commerce platform. The wide range of handheld marijuana vaporizers available on the amazon, flipkart and other such online retail platforms is further propelling the market.

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Key Segments Covered:

                Segments                                        Sub-segments
  Product Type
  • Convection Vaporizers
  • Conduction Vaporizers
  Charger
  • USBs
  • Micro USBs
  Temperature Control
  • Fixed
  • Variable
  Distribution Channel
  • Online
  • Offline

 

Key benefits of the report:

  • This study presents the analytical depiction of the global handheld marijuana vaporizer industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global handheld marijuana vaporizer market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global handheld marijuana vaporizer market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global handheld marijuana vaporizer market analysis based on competitive intensity and how the competition will take shape in coming years.

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