The global pandemic appears to be driving consumers to cannabis, and vaporizer manufacturers are seeing record sales. From startups to big players, several leading manufacturers have reported that their companies have seen a surge in sales since the start of the crisis. In many cases, consumers are seeing limited availability of some top models as manufacturers try to cope with the high demand.
Some CEOs see the pandemic as driving consumer acceptance of cannabis and pushing for legalization nationwide. With legalization, new consumers are entering the market, and companies like Canopy Growth, PAX, and Grenco Science stand to benefit as manufacturers of some of the best vaporizers on the market.
Supply chain issues are partly to blame for the reduced availability of products, and cannabis supplies aren't the only ones in short supply. For the U.S., many products, from bicycles to kayaks, are currently hard to find.
Grenco Science was founded in 2012 and was one of the first companies to enter the dry herb vaporizer market. In 2019, the company raised funds to develop and launch innovative cannabis products. In early 2020, the company launched the Dash and the Roam, a portable water-filtered concentrate vaporizer.
Then, COVID-19 made its appearance.
CEO and co-founder Chris Folkerts says product releases were behind schedule, but the company was still able to launch the Roam and Dash.
“We can still see growth in the space and significantly expand the product pipeline,” Folkerts said. “There are still releases planned for later this year so we will be able to launch the redesigned Stundenglass after the acquisition of the company.”
Indeed, Grenco has had a busy pandemic, launching two new products and acquiring the manufacturer of another. And they’re not done yet. Folkerts says interest in dry herb vaporizers and cannabis is growing, and it could be due to the launch of the Dash vape. Grenco has three more new dry herb vaporizers to launch in the near future.
Folkerts admits there were problems along the way, mainly with customer support and shipping products . The company saw an influx of orders on its online store that it was not prepared to handle. The company had to reassign “a large portion” of its staff to handle online shoppers and deal with issues with products and delivery.
Canopy Growth’s vaporizer company Storz & Bickel is also facing increased customer support issues. Across user forums, it’s clear that the company can’t keep up with its customers’ demands. Buyers report delayed shipments and inconsistent customer support. Most cannabis-related items on storz-bickel.com carry a “low stock” warning, though most are available through official distributors.
Andy Lytwynec, vice president of Global Vape Business at Canopy Growth, says Storz & Bickel's sudden growth is exceeding expectations and the company has accelerated its production.
In 2000, Storz & Bickel launched the Volcano, the first notable dry herb vaporizer. The company now has two versions of the Volcano and a variety of portable devices that use the same underlying technology, all certified for medical use. In 2018, Canopy Growth acquired Storz & Bickel, where it joined the group's other vaporizer brands.
Lytwynec is using Storz & Bickle as a barometer to gauge the impact of COVID-19. The German vaporizer company saw a surge in sales, according to Canopy Growth’s latest quarterly report. The company reported a 71% increase in cannabis-related products in the first quarter ended June 30. The financial report pointed to increased sales and distribution at Storz & Bickel as the primary reason for the increase.
During the pandemic, consumers aren't just turning to dry herbs and cannabis. Concentrate vaporizer manufacturers are also seeing a surge in sales.
Puffco, the company behind the fantastic Puffco Peak e-rig, is reporting a surge in sales. Puffco founder Roger Volodarsky says, “Since the pandemic began, it seems like a lot of new users have joined the cannabis space. Puffco has seen historic sales during this time. We’re grateful to see our growth continue despite the challenges we’ve faced.”
Instead of using ground herbs, Puffco's products are designed for use with concentrates, which many consider to be the next big market for cannabis.
Six months into the global crisis, the cannabis market appears to have seen a significant uptick as manufacturers have increased production and staff to meet demand.
Canopy Growth's Lytwynec sees the past few months as a turning point for cannabis, not just in terms of its economic impact or legalization. He says consumers are starting to see cannabis differently and accept it.
