The vape industry is a constantly shifting environment. Each year, the industry experiences a changing tide that relies on consumer expectations. While there is usually a push and pull between what a consumer wants out of a product vs what can be supplied. Fortunately, the vape industry strives to understand this and push these factors into every new year.
2022 has been no different. While 2021 focuses on cartridges, all-in-one vapes, and pre-rolls, this year was a "fine-tuning" of these products to maximize customer needs. While we do not have a crystal ball that predicts what will come next, we do have innovative data-driven optics that allow us to look into what can potentially be the next phase for the industry.
Although we are halfway through the year, our predictions have been spot-on. Let's take a look at how the year is staking up to new industry demands.
While cartridges remain one of the most popular products within the entire industry, they have also seen a slight leveling off of sales. This was to be expected due to the fact that the industry shifts so frequently. Last year, distillate cartridges made up a whopping 60% of all sales within the US and 87% in Canada.
While this has been the absolutely dominating factor throughout the North American hemisphere, the reason for the *slight decline is due to the emerging Live Resin trend.
What is Live Resin?
Live resin is where the plant is "flash frozen" before the drying/curing step. The plant (while still alive) is kept at a sublevel temperature. This freezes the trichomes on the plant and allows for easier extraction. Extraction methods are typically used with Co2, BHO, or Butane solvents and then pressed. The result is a honey-like extract that is pure CBD.
Live resin vaporizer systems such as ceramic pods, disposables, and rechargeable vapes have been hot for the year. With stronger ceramic coils and longer battery life, the ability to power thicker concentrates is now improving the way we vape.
While the industry focused on 0.5 and 1.0g cartridges, ceramic and titanium coils and longer battery life means that larger capacity tanks can be the focus. While 0.5 cartridges are still popular, the level and capacity of 1.0 mL cartridges are simply the superior method.
A side note - our data showcases that in 2023 2.0 mL cartridges are going to show their prominence.
1 mL cartridges first hit the industry in 2017 with a small number of 1.5 million units sold. This was due in part to the low level of industry information. 510 thread batteries were just starting to make their way into the causal vapers pocket. Fast forward to today where that number has multiplied by 30. 1.0 mL cartridges now account for 35% of the total market in North America.
Package size growth will continue to be one of the most sought-after customer requirements within the industry. The real question is: How big will they go?
Small, non-rechargeable vape pens that are filled once and are made for single-use are phasing out. Once again, the industry is looking at how they can go bigger and better. With innovative technology, larger battery life, stronger coil materials, and the option for recharging, the concept of these small vapes with small batteries has gone by the wayside.
While they were the first to introduce the concept, technology has advanced well past its use of them.
Bigger package sizes, larger battery life, and more effective coil materials are all on the horizon for the future. With trends moving towards bigger and better production, the overall cost for the consumer is still up in the air. As long as the consumer is willing to pay the price tag, the industry will continue to move in this direction.