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Resilient Vape Pens’ Rising Popularity

Vapour pens are currently the third most popular cannabis category in Canada behind flower and pre-rolls according to a new study by Headset.

Ultra-convenient, portable and often very potent, vape pens have clearly caught the attention of Canadian consumers despite the products being synthetic and far removed from the cannabis plant in its natural form. The above mentioned positives along with the futuristic look and feel of the pens themselves have gradually nudged the vape pens up the consumption method rankings in the Canadian market.

Over the last year, the popularity of vape pens has grown steadily in both Canada and the US. South of the border vape pens overtook pre-rolls to become the second biggest category In the US. In Canada, meanwhile, they reached a market share peak of 17.6% in January 2022.

demograpics graph“Gen Z” Driving the Boom

It appears younger consumers are responsible for the product’s recent surges with “Gen Z” customers contributing nearly double their total cannabis spend to vape pens compared with the “Baby Boomer” generation.

Additionally, Headset’s data reveals that female consumers across all age groups are more likely to purchase vape pens than males. With the “Gen Z” group being the only exception.

Ever-Rising Market Share

Over time vape pens have gradually increased their share of the Canadian market despite the vaping illness scandal of 2019 in North America. After a slight dip at the beginning of 2021, market share for vape pens in Canada was up in the second half of 2021, growing from 15.4% to 17.3% by the end of the year. In 2022, the market share  reached a record high of 17.6% in January. Since then, vape pens’ market share has continued to hover around 17%. As the year progresses—and with summer around the corner—it will be interesting to see if that growth continues in Canada.

British Columbia has the lowest vape pen market share in the country. However, the product’s market share in BC has still managed to increase since last year, growing from 13.2% in June 2021 to 14.8%.

market share graph

Products and Price

When it comes to vaping products 510 threaded pens still rule the market compared to propriety hardware formats, but propriety vapes are beginning to rise in popularity. From a price perspective the cost of vape pens are falling in Canada. The average EQ price dropped by a hefty 32% from $64.16 in April 2021 to $43.90 in April 2022. EQ pricing normalizes product prices using a standard unit of measure allowing for better cost comparisons between products.

Overall vape pens have come a long way over the past three years and shown resilience despite a lot of negative press. On top of this, the recent growth is a promising sign for the future. It seems like yesterday that the vape pen market was trying to survive a drastic dip in sales fuelled by concerns about health impacts of the product. Times have changed though and with Gen Z now pushing the product forward it appears as if the sky is the limit for the future of vape pens.

Tags: Canadian Cannabis (113), Canadian cannabis retail (13), cannabis (32), cannabis market share (3), Cannabis Retail (401), Gen Z (22), Headset (41), vape pens (6)