Cannabis Vaping: Opportunities in an Uncertain Future
Part of the Cannabis Intelligence Briefing series.
Cannabis vapes have quickly become a major product category in the U.S. legal cannabis industry, estimated by Arcview Market Research and BDS Analytics to have totaled $1.6 BN in sales in 2018 and forecast, prior to the emergence of EVALI (“e-cigarette, or vaping, product use associated lung injury”), to reach $2.5 BN in sales in 2019 and on to $10.6 BN in 2024. At the end of Sep., that forecast, and the future of cannabis vapes in general, was very much in doubt.
Cannabis vape sales took an immediate and substantial hit following the U.S. Centers for Disease Control and Prevention (CDC) announcement of the first death attributable to EVALI with the crisis growing quickly to 2,290 cases of illness in 49 states (and 47 deaths in 25 states and the District of Colombia) between Aug. 23rd and Nov. 20th. After 8 months of generally upward growth in combined monthly vape sales in AZ, CA, CO, NV and OR, from $123 MM in Jan. to $160 MM in Aug., sales plummeted 21% in Sep. and a further 5% in Oct., according to BDS Analytics GreenEdge® data.
Take a closer look at the impact the EVALI outbreak has had on the industry.
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