Unless you have completely isolated yourself from society for the past few years, you know that the cannabis industry is booming. It’s not slowly moving into the mainstream anymore, but at a rapid pace with people embracing the benefits it can have both medically and for the economy. With cannabis being the same as any other industry, it evolves, matures, and branches off into subsidiaries. One of the largest sections of the cannabis industry is the market of vape pens.
Vaporizing is nothing new in itself, as the vaporizer machines have been around for years. But, they were traditionally rather large and bulky, and a bit tedious to set up, so they were usually confined to one’s home. Then, e-cigarettes came into popularity as the “healthy” alternative to smoking cigarettes, and people saw an opportunity to easily adopt the technology for cannabis its concentrates.
Since 2008, when e-cigarettes first came into popularity, the sales of such have grown to $3.5 billion, and that growth is expected to continue. At the same time, medical marijuana sales are expected to move from around $3.6 billion (the mark in 2015) to $13.4 billion by 2020; one of the main factors is that more and more people are turning to marijuana for medical purposes, especially the older generations who are embracing cannabis for the first time.
Many older people suffer from multiple ailments that make simple daily tasks difficult to accomplish, but they are finding cannabis can help ease their pain and function. However, when someone isn’t familiar with cannabis, it can be difficult to know how much to consume. Moreover, can you imagine trying to grind up your flowers and fill a pipe with a weak, shaking, trembling hand?
That’s where vaporizers come in, especially cartridge style vaporizers which make up 77% of the market, as they deliver a consistent dose without any fuss. They are convenient and inconspicuous, with nothing but an odorless vapor being emitted, so many people find using a vaporizer to be more peaceful and private, especially since there is still such a negative stigma surrounding cannabis in many places.
Even though 23 states and the District of Columbia have legalized cannabis for medical purposes, and 4 have legalized it recreationally, many places have banned or outlawed smoking the product (i.e. the flower or buds) leaving few options for use. The main one left is concentrates used through a vaporizer or vape pen.
The vape pen market is continuing to grow, with many of them becoming giants of the cannabis world like Apple and Samsung are giants in the tech world. Consumers eagerly await new products, and drool over all the fancy gizmos and gadgets that can deliver a hit to them. In 2014, the Oxford dictionary even listed vape and vaping as the “word of the year.” It will be interesting to watch the growth of this industry over the next few years, and see how the vape market evolves with the cannabis industry and vice versa.