Vaping Helps Cannabis Concentrates Market Hit $3 Billion in 2018
The US cannabis concentrates market is expected to reach just slightly less than $3 billion by the end of 2018, and vaping is believed to be the cause behind this. This figure is an increase of 49% of what this market brought in during 2017, according to a report from Arcview Market Research and BDS Analytics.
This puts the concentrate market in second place, beat out only by flower.
Fifty-eight percent of the money spent on concentrates stems from pre-filled vaporizers. Some speculate that those new to cannabis may be attracted to the consistent, discreet, reliable nature of pre-filled vaporizers and cartridges for vape pens.
According to the report, concentrates made up roughly 10 percent of legal cannabis being sold in 2014 – that will hit 27 percent as of 2018. The report also estimated that US concentrate sales will hit $8.4 billion by 2022.