Vape Cartridge Market: Outlook
Regarded as one of the most suitable replacement of cigarettes and other nicotine-induced substances, vapes are a popular choice among a considerable populace around the world. The vaping trend has generated great buzz and is stated to continue the same between 2020 and 2030. These aspects will certainly invite expansive growth for the global vape cartridge market across the forecast period of 2020-2030.
The millennial generation acquires a large share in terms of revenue generation for the vape cartridge market. These cartridges are available in plastic and glass material. Vape cartridges contain additives, distillates, CO2, and oil.
This report on the vape cartridge market provides information to the stakeholder through the R.O.C.K (Regional Prospects. Overview. Competitive Dimensions. Key Trends) mechanism. This mechanism covers all the major prospects that are growth-worthy for the vape cartridge market and helps the stakeholder to gain rock-solid insights.
The information included in this report has been designed after a scrutinized analysis on a variety of factors by an expert team of researchers. The report also offers insights into the COVID-19 impact on the vape cartridge market and the prominent threats that the vape cartridge market may face between 2020 and 2030.
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Vape Cartridge Market: Competitive Scenario
Over the years, vape cartridges have evolved greatly. A plethora of developments have been observed in regard to the production of vape cartridge. This aspect has brought great growth prospects for the vape cartridge market. The players in the vape cartridge market always strive hard to be in tandem with the choice and features that attract a large consumer base through research and development activities.
Manufacturers in the vape cartridge market are focusing on developing glass vape cartridges as they are gaining substantial traction from the consumer base. The properties of glass such as no melting due to heating and maintenance of liquid viscosity are serving as prominent growth attractors for the vape cartridge market. Advertising campaigns and social media promotions are also helping the vape cartridge market to gain extra stars of growth.
The players are also introducing vape cartridges without any synthetic additives because of the preference for an additive-free vape experience. Some well-established players in the vape cartridge market are Evolab Chroma, Select Oil, Level Elevate, The Bloom Brand, Avitas Natural, Absolute Extracts, River Organics, Dutchy Oil, and Orchid Essentials.
Vape Cartridge Market: Growth Dampeners
The increasing penetration of fake cartridges in the market is serving as a major growth dampener for the vape cartridge market. These fake cartridges are sold as original ones. They contain hazardous substances that can be fatal. However, regulatory authorities are trying to control the menace by various measures and this may bring some opportunities for growth revival.
The FDA recently tightened the grip on selling vaping products. Every seller has to send a premarket tobacco product application (PMTA) and new tobacco products have to show a health benefit when compared to cigarettes. This aspect may further attract loss.
Vape Cartridge Market: Recent Developments
Some major developments in the vape cartridge market are as follows:
- Blackbird, a cannabis software company recently partnered with Commonwealth Alternative Care and launched an online marketplace for delivering vape cartridges and other products
- Heritage Cannabis launched three new CBD vape cartridges
- Sublime, a cannabis manufacturing company recently launched Live Resin Vape Cartridges
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Vape Cartridge Market: Regional Analysis
Developed regions like North America and Europe may gain robust growth for the vape cartridge market. The trend of vaping is gaining expansive traction and is expected to continue over the forecast period. Asia Pacific may serve as the fastest-growing region due to the escalating preference for vape cartridges over other nicotine products in countries like China and Philippines.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.