Cannabidiol (CBD) Vape Juice Market Size, Share, Analysis, Trends, Growth, 2032

Cannabidiol (CBD) Vape Juice Industry Prospective:

The global cannabidiol (CBD) vape juice market size was evaluated at $3 billion in 2023 and is slated to hit $74 billion by the end of 2032 with a CAGR of nearly 59% between 2024 and 2032.

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Cannabidiol (CBD) Vape Juice Market: Overview

Cannabidiol (CBD) vape juice is a particular kind of vape oil containing cannabidiol and is used in vaporizers and e-cigarettes. Moreover, cannabidiol oil is derived from the hemp plants and vaporized by using vape equipment, thereby helping the end-users in inhaling vapor and absorbing cannabidiol in their bloodstream. There are various kinds of cannabidiol (CBD) vape juice, including CBD isolate e-liquids, full-spectrum e-liquids, and broad-spectrum e-liquids.

Key Insights

• As per the analysis shared by our research analyst, the global cannabidiol (CBD) vape juice market is projected to expand annually at the annual growth rate of around 59% over the forecast timespan (2024-2032)
• In terms of revenue, the global cannabidiol (CBD) vape juice market size was evaluated at nearly $3 billion in 2023 and is expected to reach $74 billion by 2032.
• The global cannabidiol (CBD) vape juice market is anticipated to grow rapidly over the forecast timeline owing to surging awareness and adoption of CBD along with changing attitudes towards cannabis.
• In terms of product type, the broad-spectrum CBD segment is slated to register the highest CAGR over the forecast period.
• Based on flavor, the fruit flavors segment is predicted to contribute majorly towards global industry surge in the ensuing years.
• On the basis of strength, the low-strength segment is likely to maintain segmental domination in the forthcoming years.
• In terms of distribution channel, the online retailer segment is likely to record the highest CAGR over the forthcoming years.
• Region-wise, the Latin American cannabidiol (CBD) vape juice industry is projected to register the fastest CAGR during the assessment timespan.

Cannabidiol (CBD) Vape Juice Market: Growth Factors

Escalating use of the product for recreational purposes to boost the global market trends

Surging awareness and adoption of CBD, along with changing attitudes towards cannabis, is likely to promote the growth of the global cannabidiol (CBD) vape juice market. Furthermore, escalating health awareness along with huge demand for vaping items is projected to embellish the expansion of the global market.

Additionally, changing lifestyles, along with the availability of different flavors, are expected to chart a profitable roadmap for the global market. Furthermore, relaxation in the cannabis laws, along with liberal laws related to hemp-extracted product sales, will expand the scope of the global market demand. Technological breakthroughs in vaping equipment, along with flourishing e-commerce activities, are expected to propel the growth of the market globally.            

Cannabidiol (CBD) Vape Juice Market: Restraints

A rise in the retail charges of the product can impede the global industry expansion over forecast period

Surging retail costs of CBD vape juices and quality control issues are projected to obstruct the expansion of the global cannabidiol (CBD) vape juice industry. Tough competition from substitute products can hinder the global industry expansion. Lack of customer awareness about benefits of product can put brakes on the industry surge over the forecast period.

Cannabidiol (CBD) Vape Juice Market: Opportunities

A rise in the use of product in healthcare sector is expected to create new growth opportunities for the global market

New product launches and technological breakthroughs aimed at improving the quality of the product are predicted to create new growth avenues for the global cannabidiol (CBD) vape juice market. Furthermore, the therapeutic features of the product, along with its ability to treat stress and anxiety, will prop up the expansion of the global market.

Cannabidiol (CBD) Vape Juice Market: Challenges

Rising charges for high-quality products can create hurdles in the growth path of the global industry

Health issues related to vaping and lack of social acceptance related to the intake of cannabis products are expected to challenge the expansion of the global cannabidiol (CBD) vape juice industry. Increasing costs of manufacturing products, along with a focus on creating high-quality products, can challenge the growth of the global industry.

Cannabidiol (CBD) Vape Juice Market: Report Scope

Cannabidiol (CBD) Vape Juice Market: Segmentation

The global cannabidiol (CBD) vape juice market is divided into product type, flavor, strength, distribution channel, and region.  

In terms of product type, the cannabidiol (CBD) vape juice market across the globe is segmented into full-spectrum CBD, broad-spectrum CBD, and CBD isolate segments. Apparently, the broad-spectrum CBD segment, which accrued nearly 46% of the global market earnings in 2023, is predicted to register the fastest CAGR in the next couple of years as a result of the ability of the product to offer an entourage effect along with surging customer awareness about the product benefits.  

Based on the flavor, the global cannabidiol (CBD) vape juice industry is sectored into herbal flavors, fruit flavors, and dessert flavors segments. Furthermore, the fruit flavors segment, which accounted majorly towards the global industry in 2023, is likely to contribute notably towards the global industry surge over 2024-2032, and this can be due to its broad appeal, availability of large number & varied fruit flavors, and an increase in the demand for fruit flavors.

On the basis of strength, the global cannabidiol (CBD) vape juice market is segregated into low-strength, high-strength, and medium-strength segments. Moreover, the low-strength segment, which led the segmental expansion in 2023, is prognosis to retain segmental leadership in the forecasting timespan owing to a low dosage of cannabidiol (CBD) vape juice reducing the risk of unnecessary side effects. Apart from this, low-strength cannabidiol (CBD) vape juice products can fulfill individual requirements.

Based on distribution channel, the global cannabidiol (CBD) vape juice industry is segmented into dispensaries, specialty stores, online retailers, and convenience stores segments. Furthermore, the online retailers segment, which dominated the distribution channel segment in 2023, is projected to record the fastest CAGR over the analysis timespan. The segmental surge over the assessment timeline can be due to the ability of online retailers to establish direct-to-customer relations, which can promote brand equity and consumer loyalty. Reportedly, online retailers help target audiences residing at distant locations, which is likely to promote segmental growth.

Cannabidiol (CBD) Vape Juice Market: Regional Insights

North America is projected to maintain leading position in the global market over the projected time-interval

North America, which accounted for nearly 67% of the global cannabidiol (CBD) vape juice market size in 2023, is expected to maintain a number one position in the global market during the forecasting timespan.

In addition, the regional market growth in the next few years can be ascribed to the easy acceptance of CBD along with growing awareness of the therapeutic benefits provided by the product. Moreover, regulations supporting the manufacture & sale of the product in some of the states of the U.S. for medicinal purposes will promulgate the scope of growth of the market in the region.

The Latin American cannabidiol (CBD) vape juice industry is set to record the highest CAGR in the predicted timeline. The swift elevation of the industry in LATAM can be credited to surging customer awareness about cannabidiol (CBD) benefits. Moreover, Uruguay's legalization of cannabis use for medical purposes has contributed sizably to the growth of the industry in the region.  

Cannabidiol (CBD) Vape Juice Market: Competitive Space

The global cannabidiol (CBD) vape juice market profiles key players such as:

• Hemp Bombs
• British Hemp Company
• VaporFi
• Endoca
• Cibdol
• Essentia Pura
• OneLove
• Formula Swiss
• Savage CBD
• Koi CBD
• Juicy Dutch
• Stronglife
• Le petit vapoteur
• Mary’s Hemp Farm
• JustCBD
• ERTH WELLNESS
• NU-X CBD
• Hemplucid
• CBDfx

The global cannabidiol (CBD) vape juice market is segmented as follows:

By Product Type

• Full-Spectrum CBD
• Broad-Spectrum CBD
• CBD Isolate

By Flavor

• Herbal Flavors
• Fruit Flavors
• Dessert Flavors

By Strength

• Low-Strength
• High-Strength
• Medium-Strength

By Distribution Channel

• Dispensaries
• Specialty Stores
• Online Retailers
• Convenience Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa