North America Cannabidiol (CBD) Vape Juice Market – Industry Trends and Forecast to 2029

Market Analysis and Insights

Rising disposable income, growing consumption per capita, and changing the dietary style of consumers across the globe are the major factors fostering the growth of the North America cannabidiol (CBD) vape juice market. Changing lifestyle and rising awareness about cannabidiol (CBD) vape juice's health benefits are other factors that may act as market growth determinants. Increasing demand for e-liquid and e-cigarettes will further create lucrative opportunities for growth in the North America cannabidiol (CBD) vape juice market.

However, the availability of low-cost alternative vape juices may hamper the market growth rate. Also, stringent government regulations will further restrain the market growth rate. Health risks of CBD vape juice, such as lung injury, may pose a major challenge for the market growth.

Data Bridge Market Research analyses that the North America cannabidiol (CBD) vape juice market is estimated to reach USD 43,476.33 million in 2029 and will grow at a CAGR of 54.1% during the forecast period of 2022 to 2029.

Market Definition:

CBD vape juices, also known as CBD e-liquid or CBD vape oil, are liquids containing CBD used in e-cigarettes. These liquids are vaporized by the e-cigarette. When consumers inhale the vape juice, cannabidiol (CBD) enters their lungs, infusing the CBD into the bloodstream. CBD vape juices contain a few simple ingredients such as PG (propylene glycol), VG (vegetable glycerin), CBD extract, and the flavors used in e-liquids.

North America Cannabidiol (CBD) Vape Juice Market Dynamics

Drivers

• Increasing health benefits by the usage of cannabidiol (CBD) vape juice

The cannabidiol (CBD) vape juice is manufactured from the non-intoxicating extract of marijuana or hemp, which is mainly prescribed for relief from intractable pain. Along with this, cannabidiol (CBD) vape juice helps treat the anxiety problems that have become among human beings nowadays due to the increased level of stress. The recreational benefits of the marijuana plants from which the cannabidiol (CBD) vape juice is extracted help improve the quality of the cannabidiol (CBD) vape juice.

Due to the increasing health benefits of using cannabidiol (CBD) vape juice, the manufacturers of cannabidiol (CBD) vape juice are enhancing the level of extraction to fulfill the increased demand.

• Growing demand for cannabidiol (CBD) vape juice in the medical industry

Cannabidiol (CBD) vape juice has been considered the most advanced product in the treatment of epilepsy. The CBD is also used for anxiety, pain, and muscle disorders called dystonia, Parkinson's, Crohn's, and many other conditions. The therapeutic benefit of cannabidiol (CBD) vape juice involves the potential of terpenes and other cannabis phytochemicals, which provides various health benefits. The medical agencies are studying the natural benefits of CBD. As the cannabidiol (CBD) vape juice is considered a natural remedy that is considered to be powerful and safe for the treatment of various health issues.

Opportunities

• Growing incidence of psychological disorders

There is an increase in incidences of psychological disorders such as anxiety disorders, including panic disorder, obsessive-compulsive disorder phobias, and depression.

Psychological disorders are characterized by loss of interest or pleasure, sadness, feelings of guilt or low self-worth, poor concentration, disturbed sleep or appetite, and tiredness. People with depression may also have multiple physical complaints with no apparent physical cause. Depression can be recurrent or long-lasting. Also, depression can adversely affect people's ability to function at school or work and cope with daily life. At its most severe, depression can lead to suicide.

For instance,

• According to the World Health Organization (WHO), globally, an estimated 264 million people are affected by depression. More women are affected than men
•   Technological innovations in vaping

Since the beginning, the vaping industry has had regular innovations that allow manufacturers to launch or develop new products. Modern vaping technology now creates the smoothest vaping experiences with enhancements such as Bluetooth, voice activation, and better batteries. Product manufacturers and industry leaders have aimed to improve the vaping experience consistently.

Following are some of the most recent innovations in vaping technology:

Pod vaping - Pod vaping has emerged as the biggest trend in the vaping industry, with new pod vape devices being produced by manufacturers, catalyzing the intake of cannabidiol (CBD) vape juice.

Restraints/Challenges

• Health risks of e-cigarettes

E-cigarettes produce several dangerous chemicals harmful to the human body, including acetaldehyde, acrolein, and formaldehyde. These aldehydes can cause lung disease, as well as cardiovascular (heart) disease

E-cigarettes also contain acrolein, an herbicide primarily used to kill weeds. It can cause acute lung injury and chronic obstructive pulmonary disease (COPD). COPD is a chronic inflammatory lung disease that causes obstructed airflow from the lungs. Also, it may cause asthma and lung cancer.

Thus, the adverse effects of regular use of e-cigarettes may challenge the North America cannabidiol (CBD) vape juice market.

• Vaping-related severe lung injury

The health concerns about vaping have escalated to an unprecedented level worldwide over the past few years. Since August 2019, the Centers for Disease Control and Prevention (CDC), the U.S. Food and Drug Administration (FDA), state and local health departments, and other clinical and public health partners have been dealing with vaping-associated pulmonary injury (VAPI), also called e-cigarette or vaping product use associated lung injury (EVALI), is an acute or subacute respiratory illness characterized by a spectrum of clinicopathologic findings mimicking various pulmonary diseases.

Thus, in conclusion, due to the increase in the vaping-related severe lung injury, e-cigarette or vaping product use associated lung injury (EVALI) will hamper the growth of the CBD vape juice in the North America CBD vape juice market.

Post COVID-19 Impact on North America Cannabidiol (CBD) Vape Juice Market

Post the pandemic, the demand for cannabidiol (CBD) vape juice has increased as there won't be any more restrictions on movement, so the supply of products would be easy. In addition, the growing trend of trying new flavors for E-cigarettes, especially among the young population, will propel the market's growth.

Recent Developments

• In December 2021, Pure CBD Vapors acquired Cloud9Hemp.com, a Nashville-based brand that specializes in CBD (cannabidiol) products. This acquisition has helped the company to widen its product portfolio
• In October 2021, Koi CBD launched a new full spectrum and delta 8 lines of world-class hemp products lines. The products are tinctures, gummies, as well as vape juices. This launch has helped the company to widen its product portfolio

North America Cannabidiol (CBD) Vape Juice Market Scope

The North America cannabidiol (CBD) vape juice market is segmented into product type, source, flavor, strain, propylene glycol (VG) & vegetable glycerin (PG) ratio, category, dose, tests performed, packaging size, and distribution channel. The growth amongst these segments will help you analyse meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

• Full Spectrum Vape Juice
• Broad Spectrum Vape Juice
• CBD Isolate Vape Juice

Based on product type, the North America cannabidiol (CBD) vape juice market is segmented into the full spectrum vape juice, broad spectrum vape juice, CBD isolate vape juice.

Source

• Hemp
• Marijuana

Based on source, the North America cannabidiol (CBD) vape juice market is segmented into the hemp and marijuana.

Strain

• Indica
• Sativa
• Hybrid

Based on strain, the North America cannabidiol (CBD) vape juice market is segmented into the indica, sativa and hybrid.

Propylene Glycol (VG) & Vegetable Glycerin (PG) Ratio

• 50/50 VG&PG Ratio
• 60/40 VG&PG Ratio
• 70/30 VG&PG Ratio

Based on propylene glycol (VG) & vegetable glycerin (PG) ratio, the North America cannabidiol (CBD) vape juice market is segmented into 50/50 VG&PG ratio, 60/40 VG&PG ratio, 70/30 VG&PG ratio.

Category

• THC Detectable
• THC Non-Detectable
• No THC

Based on category, the North America cannabidiol (CBD) vape juice market is segmented into the THC detectable, THC non-detectable and no THC.

Dose

• High
• Medium
• Low

Based on dose, the North America cannabidiol (CBD) vape Juice market is segmented into high, medium and low.

Flavor

• Flavoured
• Flavorless

Based on flavor, the North America cannabidiol (CBD) vape juice market is segmented into the flavored and flavorless.

Tests Performed

• Tested for Potency
• Tested for Purity

Based on tests performed, the North America cannabidiol (CBD) vape juice market is segmented into the tested for potency and tested for purity.

Packaging Size

• >30ML
• 30ML-60ML
• 60ML-100ML
• UPTO 1000ML

Based on packaging size, the North America cannabidiol (CBD) vape juice market is segmented into the >30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML.

Distribution Channel

• Online
• Wellness & Natural Product Stores
• Medical Marijuana Dispensaries

Based on distribution channel, the North America cannabidiol (CBD) vape juice market is segmented into the online, wellness & natural product stores, and medical marijuana dispensaries.

North America Cannabidiol (CBD) Vape Juice Market Regional Analysis/Insights

North America cannabidiol (CBD) vape juice market is analyzed, and market size insights and trends are provided by country, product type, source, flavor, strain, propylene glycol (PG) & vegetable glycerin (VG) ratio, category, dose, test performed, packaging size, and distribution channel as referenced above.

Some of the countries covered in the North America cannabidiol (CBD) vape juice market are the U.S., Canada and Mexico.

The U.S. is expected to dominate the North America cannabidiol (CBD) vape juice market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the growing usage of E-cigarettes among the population.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of North American brands and their challenges faced due to high competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and North America Cannabidiol (CBD) Vape Juice Market Share Analysis

North America cannabidiol (CBD) vape juice market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus on the North America cannabidiol (CBD) vape juice market.

Some of the major players operating in the North America cannabidiol (CBD) vape juice market are CBDfx, HempBombs, Koi CBD, Savage CBD, ERTH WELLNESS, Hemplucid, VaporFi, JustCBD, NU-X CBD, Pure CBD Vapors, Vape Dinner Lady, CBD GENESIS, Malaya Hemp, Blue Moon Hemp, FUSION CBD PRODUCTS, among others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

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