The global handheld marijuana vaporizer market was valued at $5.4 billion in 2023, and is projected to reach $18.1 billion by 2033, growing at a compound annual growth rate of 12.9% from 2024 to 2033.
This is according to a new report conducted by Allied Market Research. The growth of the handheld marijuana is driven primarily by “the increasing legalization of cannabis for both medicinal and recreational use, which expands the consumer base”, notes the report. “Rising health consciousness among consumers, who perceive vaping as a safer alternative to smoking, further boost the market demand.”
The report states that “Technological advancements in vaporizer design, offering improved functionality, portability, and user experience, attract a wide range of users. Additionally, evolving consumer preferences for discreet and convenient cannabis consumption methods, along with the growing acceptance and normalization of cannabis use in society, significantly contribute to the market expansion.”
North America “dominates the handheld marijuana vaporizer market due to its progressive stance on cannabis legalization, particularly in numerous states across the U.S. and in Canada where both medical and recreational cannabis usage is legal.” This regulatory framework “not only legitimizes the cannabis industry but also encourages innovation and investment in products like vaporizers.
The key players in the market include:
- Pax Labs
- Storz & Bickel
- DaVinci
- Arizer
- Firefly Vapor
- Boundless Technology
- Grenco Science (G Pen)
- KandyPens
- Atmos
- Cloudious9
For more information on this report, click here.
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