In an ongoing report series, GreenTank, Headset, and Arcview Market Research analyze quarterly YoY (Year over Year) sales data, brand, and product trends in the North American vape market. What we’ve found is a cannabis product format growing quickly and consistently with a lot of room to run.
For example, 27 million vape units generating $900 million in revenue were sold in Q3 2021 alone. Stated another way, that’s almost a billion dollars per quarter in gross revenue in the 11 US and Canadian markets tracked for this report.
All markets except Washington, one of the most mature markets in North America, saw double digit YoY growth in revenue and units sold. With dozens of markets in North America still to legalize cannabis, the sky’s the limit for the vape market.
The following are trends from Q3 2021 we’ll be tracking going forward:
• Sales of disposal vape devices increased in all US markets but Pennsylvania.
• Cartridge sales continued rapid growth north of the border, far and away
the preferred vape product with Canadian consumers.
• 1 gram cartridge size marched forward in almost all markets as the
preferred size of vape consumers
For more of these insights on the vape market, top brands, and product trends in individual markets, download the Q3 North American Vape Report here
Editors’ Note: This is an excerpt from our Monthly Playbook. If you would like to read the full monthly playbook and join the thousands of others you can sign up below.
