Asia-Pacific Cannabidiol (CBD) Vape Juice Market, By Product Type (Full Spectrum Vape Juice, Broad Spectrum Vape Juice, CBD Isolate Vape Juice), Source (Hemp and Marijuana), Strain (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), Category (THC Detectable, THC Non-Detectable, and No THC), Dose (High, Medium and Low), Flavour (Flavoured and Flavourless), Test Performed (Tested For Potency and Tested For Purity), Packaging Size (>30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML), Distribution Channel (Online, Wellness & Natural Product Stores and Medical Marijuana Dispensaries)-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 Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific cannabidiol (CBD) vape juice market is expected to reach USD 18,390.80 million in 2029 from USD 324.73 million in 2021 and grow at a CAGR of 66.1% during the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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Product Type (Full Spectrum Vape Juice, Broad Spectrum Vape Juice, CBD Isolate Vape Juice), Source (Hemp and Marijuana), Strain (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), Category (THC Detectable, THC Non-Detectable, and No THC), Dose (High, Medium and Low), Flavour (Flavoured and Flavourless), Test Performed (Tested For Potency and Tested For Purity), Packaging Size (>30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML), Distribution Channel (Online, Wellness & Natural Product Stores and Medical Marijuana Dispensaries)
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Countries Covered
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Japan, Thailand, Hong Kong, Vietnam, Malaysia, Australia, Philippines and Rest of Asia-Pacific
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Market Players Covered
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CBDfx, HempBombs, JustCBD, Vape Dinner Lady, Malaya Hemp, among others
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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.
Asia-Pacific Cannabidiol (CBD) Vape Juice Market Dynamics
Drivers
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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 anxiety problems 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.
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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
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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. Cannabidiol (CBD) vaping juice is used in some instances as medicine to keep these issues in control.
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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.
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 and 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 Asia-Pacific cannabidiol (CBD) vape juice market.
- Vaping-related severe lung injury
The health concerns about vaping have increased worldwide over the past few years. Since August 2019, the state and local health departments, U.S. Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), and other public health and clinical partners have been dealing with vaping-associated pulmonary injury (VAPI), also called e-cigarette or vaping product use associated lung injury (EVALI). EVALI is an acute or subacute respiratory illness characterized by a spectrum of clinicopathologic findings mimicking various pulmonary diseases.
Post COVID-19 Impact on Asia-Pacific 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 Development
- In September 2021, Vape Dinner Lady was awarded the first-ever 'Hall of Fame' Award, presented at Dubai's prestigious ‘2021 Vapouround Awards ceremony. This award has helped the company establish its brand value in the market
Asia-Pacific Cannabidiol (CBD) Vape Juice Market Scope
The Asia-Pacific 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 analyze 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 Asia-Pacific 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 Asia-Pacific cannabidiol (CBD) vape juice market is segmented into the hemp and marijuana.
Strain
- Indica
- Sativa
- Hybrid
Based on strain, the Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific cannabidiol (CBD) vape Juice market is segmented into high, medium and low.
Flavor
- Flavoured
- Flavorless
Based on flavor, the Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific cannabidiol (CBD) vape juice market is segmented into the online, wellness & natural product stores, and medical marijuana dispensaries.
Asia-Pacific Cannabidiol (CBD) Vape Juice Market Regional Analysis/Insights
Asia-Pacific cannabidiol (CBD) vape juice market is analyzed, and market size insights and trends are provided by country, product type, source, flavor, strain, propylene glycol (VG) & vegetable glycerin (PG) ratio, category, dose, tests performed, packaging size, and distribution channel as referenced above.
Some of the countries covered in the Asia-Pacific cannabidiol (CBD) vape juice market are Japan, Thailand, Hong Kong, Vietnam, Malaysia, Australia, Philippines and Rest of Asia-Pacific.
Japan is expected to dominate the Asia-Pacific 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 Asia-Pacific 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 Asia-Pacific Cannabidiol (CBD) Vape Juice Market Share Analysis
Asia-Pacific cannabidiol (CBD) vape juice market competitive landscape provides details of the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific 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 Asia-Pacific cannabidiol (CBD) vape juice market.
Some of the major players operating in the Asia-Pacific cannabidiol (CBD) vape juice market are CBDfx, HempBombs, JustCBD, Vape Dinner Lady, Malaya Hemp, among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed 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, GlobalVsRegional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.
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