Market Overview

Vape Sales Decrease In Response To Health Crisis

Share:
Vape Sales Decrease In Response To Health Crisis

  • Analysis of dispensary sales data from Jane Technologies, Inc., reveals that the recent vaping issue has had broad but varied impacts on retail sales.
  • Vapes' market share has declined an average of 15%, with medical-use states (and Oregon, where a victim was linked to legal products), and adult-use markets with high canna-tourism rates (e.g., Nevada, Massachusetts) seeing the sharpest effects.
  • Long-established markets – including California, Colorado, and Washington – were least likely to see sales disruptions, suggesting that consumers in mature markets with well-known products and brands were less likely to question the safety of such products.
  • As vape sales have contracted, other categories (flower, pre-rolls, and tinctures) appear to be fulfilling demand as consumers reallocate their spending.
  • While long-term implications for the vape market remain to be seen, outcomes of the CDC's investigation and the industry's collective response pose significant implications going forward for consumers' perceptions and the category's performance.
  • Given an estimated 273 million vape pens sold through legal U.S. markets from 2017-2019, a suspected strong connection of the outbreak of illness to unregulated products will likely fuel calls for legalization, standardization, and quality controls to minimize risks.

Receive the best hemp news in the industry delivered to your inbox every week!

The post Vape Sales Decrease in Response to Health Crisis appeared first on New Frontier Data.

Image Sourced from Pixabay

Posted-In: New Frontier Data vape VapingCannabis News Markets General

 

Related Articles

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!

US Cannabis Industry Market Projections Up 20% To $30 Billion By 2025

7 ETFs Joining The SPDR Lineup of Cheap Core Funds