Vapes represent a microcosm of the success of the entire North American cannabis industry, going from near zero to a multi-billion-dollar industry in less than a decade. With the meteoric rise of vapes in the cannabis industry and regulation looming, what comes next?
Download the Q1 2021 Vape Industry Report to get an in-depth look at the data our panelists discussed on the webinar: https://arcviewgroup.com/vape-report
We hope you enjoy our free public webinar on the past and future of vaporizers and the PACT Act’s impact on the industry.
HOST: Derek Champoux, Greentank
GUEST: David Wright, Greentank
GUEST: Tracy Gallegos, Duane Morris
GUEST: Gary Seelhorst, Justice Grown & Justice Cannabis Co
GUEST: Neeraj Bhardwaj, Loto Labs
GUEST: David Abernathy, Principal of Arcview Consulting
GUEST: Jocelyn Sheltraw, Headset
Today’s webinar features a round-robin discussion of the PACT Act, and opinions regarding the vaporizer industries’ shortcomings and successes in the past few years.
6:05 Panelists Introduction
10:51 Trends in the Vape Industry
24:09 Vape Safety
38:44 Evolution of the Vape Space
1:02:18 Thank You!
The discussion begins with Jocelyn speaking on the $1 Billion in sales in the vape market, as well as the vape crisis and and explanation for the dip in sales and production. Gary then discusses the difference in revenues and regulatory frameworks in medical states vs. recreational states. He talks about why it seems adult-use vape sales are higher in the recreational markets. Panelists point out there is no standard in vape market and consumers searching for new hardware.
Tracy discusses the USPS and Tobacco Control Act, as well as the PACT Act. David Abernathy discusses the unintended consequences of legislation and technology. Neeraj shares about his company’s experience with the PACT Act. Jocelyn notes that vape manufacturers who aren’t well capitalized will struggle to get on the shelf and manage distribution. She also reinforces what’s at the core of the PACT Act: the wellbeing of young people.
Evolution of the Vape Space
Gary talks about standards for safety testing being necessary. Neeraj says consumers need a better understanding of materials, as well as vapes with a narrower temperature range. Jocelyn agrees, saying we need to test products in real-world environments and in odd situations. David Wright says different states have different testing methods and requirements, and emissions requirements need more standardization. Greentank is challenging this through technology advancements and green technology.
Q&A (selected few)
Are there industry manufacturing standards, if not, does the industry risk ad hoc regulation that increases risk?
Gary: Manufacturers operators and labs are the ones collecting data. Data sharing is also important. Derek: Vape manufacturers need to have a wider perspective, including data sharing.
David W: A lot needs to be tracked to deliver a safe product.
Disposable and single use carts, can they be reused etc…
Neeraj: No, but in the future yes….Loto Labs is working on something now.
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