Cannabis Vaporizer Market Share

North America Market Forecast

North America cannabis vaporizer market is poised to hold revenue share of over 35.7% by the end of 2037. A significant driver of the sector is the legalization of recreational and medical cannabis and a well-established consumer base driving demand for cannabis vaporizers. Furthermore, growing popularity of cannabis tourism in the region promotes robust growth of the sector.

The U.S. and Canada lead the revenue share in North America, with both the countries legalizing recreational use of cannabis subject to territorial restrictions, boosting the market’s expansion. In July 2024, the State of Illinois celebrated USD 1 billion in cannabis retail sales.

The U.S. leads the revenue share in the cannabis vaporizer market of North America. The regulatory approval of medical and recreational use of cannabis is a major driver of the domestic market. California, Ohio, and Illinois are rapidly establishing themselves as cannabis tourism hubs and reporting large estimates in cannabis related retail sales, creating a burgeoning market for cannabis vaporizers for adult use. For instance, the Department of Cannabis Control California reported that vape sales in 2024 reached its peak in March with retail sales worth USD 123.98 million.

Additionally, cannabis has garnered widespread acceptance amongst various demographics in the country, and the trend of regulatory relaxation is poised to create consistent revenue streams for the cannabis vaporizer market.

Canada is exhibiting rapid growth in the cannabis vaporizer sector of North America. The legalization of cannabis with regulated access has benefited the sector in Canada with the market opening for manufacturers to provide innovative vaporizers. Cities like Toronto and Ontario are boosting promotions to position themselves as hubs for cannabis tourism. Ontario’s authorized cannabis stores sold 21% more cannabis by volume in comparison to the previous year, with reported sales worth over USD 1 billion from January to June 2024. Vapes accounted for 15% of stock keeping units (SKUs) in retail during this period.

The trends indicate favorable expansion of the cannabis vaporizer market in Canada. With a consumer base that is widely accepting cannabis use and seeking efficient smoking methods, manufacturers are positioned to cater to demands with innovative vaporizers.

Europe Market Forecast

Europe is estimated to register the fastest revenue growth in the cannabis vaporizer market owing to progressive regulatory environment legalizing medical and recreational use of cannabis. In October 2023, the health authority of Switzerland was granted approval to establish the first legal adult-use cannabis dispensaries in Europe while in February 2024, Matla opened the first adult-use cannabis club in Europe.

Furthermore, Europe offers an extensive market for cannabis vaporizer manufacturers as a number of countries have relaxed regulations on adult-use cannabis. Matla, Luxembourg, Netherlands, Switzerland, Germany, etc. Manufacturers are positioning to supply vape products to leverage revenue streams in Europe. For instance, in January 2021, BAT launched its first CBD vaping product, i.e., VUSE CBD Zone that will be available in three e-liquid flavors.

Germany is positioned to expand its market share in the cannabis vaporizer sector of Europe. The decriminalization of cannabis and permission of recreational use with restriction creates promising opportunities for cannabis vaporizer manufacturers. From April 2024, people aged over 18 are permitted to carry 25 grams of cannabis for consumption. The progressive regulatory support is poised to boost the sector’s growth in the country with varied demographics favorably responding to cannabis usage.

Manufacturers are positioned to take advantage of increasing demands for portable vaporizers in Germany. For instance, in October 2023, Storz & Bickel, launched a new innovative portable vaporizer for dry herbs with a convection & conduction heater.

Netherlands remains a premier market for cannabis vaporizers in Europe and is set to increase its revenue share by the end of the forecast period. The country was one of the foremost to legalize the use of cannabis for recreational purposes, with recreational use in coffee shops legal since 1978. Due to favorable promotion, Netherlands remains a premier cannabis tourism destination benefiting opportunities for manufacturers of cannabis vaporizers to increase sales by catering to high tourist footfalls.

In December 2023, the Government of Netherlands launched the Controlled Cannabis Supply Chain Experiment to regulate the production, distribution and sale of quality-controlled cannabis. The favorable regulatory environment supporting creation of high-quality cannabis supply chain is poised to benefit the cannabis vaporizer market.