Global Cannabis Vaporizers Market Major Players 2024, Forecast To 2033

The cannabis vaporizers market has seen rapid growth in recent years, growing from $4.41 billion in 2023 to $5.05 billion in 2024, with a compound annual growth rate (CAGR) of 14.5%. This historical growth is due to factors such as the legalization of cannabis, increased awareness of the health risks associated with smoking, growing acceptance and normalization of cannabis, and favorable shifts in government policies and regulations. The market is expected to continue its rapid growth, reaching $8.76 billion in 2028 at a CAGR of 14.7%. The forecasted growth is driven by growing awareness of the health risks of traditional smoking, the availability of customizable and high-quality vaporizer products, increasing demand for alternative smoking methods, and greater acceptance of cannabis. Major trends for the forecast period include innovations in battery technology, the development of vaporizers suitable for both dry herbs and concentrates, the implementation of intuitive touchscreens and digital displays, and ongoing product innovations.