Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the US$ 15.9 Bn Market 2022-2031

Posted on 2024-03-15 by Transparency Market Research in Retail // 0 Comments

Wilmington, United States, 2024-Mar-01 — /EPR Network/ —

The global market for handheld marijuana vaporizers has witnessed remarkable growth in recent years, driven by a convergence of factors including evolving regulatory landscapes, increasing acceptance of medical marijuana, and shifting consumer preferences towards healthier consumption methods. As the market continues to expand, propelled by technological advancements and changing legislative frameworks, it presents lucrative opportunities for industry players across the globe.

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Market Overview:

In 2021, the handheld marijuana vaporizer market was valued at US$ 5 billion, with projections indicating a robust CAGR of 13.4% from 2022 to 2031. By the end of 2031, the market is expected to reach a staggering US$ 15.9 billion, underscoring its significance in the broader landscape of medical cannabis consumption.

Analysts’ Viewpoint:

The market dynamics are shaped by a multitude of factors, with improvements in legal frameworks emerging as a primary driver of growth. Governments worldwide, including those of the U.S., are increasingly sanctioning the medicinal application of marijuana, spurring demand for innovative vaporization solutions. Despite regulatory challenges, manufacturers are leveraging research and development to overcome obstacles and capitalize on emerging trends such as the rise in demand for portable vaporizers.

Market Introduction:

Handheld marijuana vaporizers, powered by battery, offer a convenient and efficient means of consuming cannabis for medical purposes. By heating concentrates and cannabis without burning the material, vaporizers release cannabinoids such as THC and CBD, providing relief to patients while minimizing the adverse effects associated with smoking. Key components of these devices include a mouthpiece, an oven, and a battery, contributing to their widespread adoption and popularity.

Rise in Medical Usage of Cannabis Driving Market Growth:

The medicinal properties of marijuana, particularly in alleviating pain associated with conditions such as Parkinson’s and multiple sclerosis, have fueled its acceptance for medical use. With more than two-thirds of U.S. states legalizing medical marijuana and countries worldwide following suit, the demand for handheld marijuana vaporizers is on the rise. Additionally, the approval of medical marijuana by regulatory bodies like the U.S. FDA further bolsters market growth, signaling a paradigm shift in healthcare practices.

Increasing Demand for Portable Vaporizers:

Consumers are gravitating towards vaporizers over traditional smoking methods due to their portability, ease of use, and controlled temperature settings. Vaporizers offer even heating, better flavor, and minimal cleaning requirements, making them an attractive choice for health-conscious individuals. The market is witnessing heightened demand for conduction vaporizers, which dominate with an approximate 85% market share in 2021, owing to their efficiency, affordability, and rapid heating capabilities.

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Regional Outlook:

North America leads the global handheld marijuana vaporizer market, driven by favorable legislation and growing consumer demand. With an increasing number of U.S. states legalizing recreational cannabis and favorable public sentiment, the region is poised for significant expansion. Europe, although an emerging market, presents considerable opportunities, with countries like Italy permitting medical marijuana usage under proper prescription.

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