The Impact of Covid-19 on the Asia-Pacific Cannabis Market: Global Market Scenario
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Industry Analysis
Data Bridge Market Research forecasts that the cannabis market will grow at a rate of 29.1% from 2021 to 2028. The market report analyzes various factors that are expected to impact the market's growth throughout the forecast period. One of the key drivers of growth is the expansion of the functional food sector.
A meticulous study of the competitive landscape of the market has been given in the Asia-Pacific Cannabis Market survey document along with the insights of the companies, financial status, trending developments, mergers, acquisitions and SWOT analysis. This market research will give a clear and specific idea to the readers about the overall market to take valuable decisions. The document focuses on the leading global industry players providing information such as company profiles, specifications, capacity, cost, revenue and contact information. An influential Data bridge market research report also offers comprehensive statistics on important aspects such as growth drivers, challenges and industry prospects.
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Market Insights and Scope
The cannabis market is being driven by several factors, including the growing health consciousness in the region, increased demand for cannabis oil in countries with legalized medical marijuana, and a rise in chronic illnesses such as Parkinson's, Alzheimer's, and cancer. There is also active research on genetic development and modification of the plant, and a surge in medical applications of cannabis. In addition, factors such as increasing disposable income, greater awareness of the product's benefits, social acceptance of marijuana, changes in lifestyle, rapid urbanization, and increased legalization of cannabis are contributing to the market's growth. Furthermore, market players are expected to benefit from profitable opportunities in the forecast period of 2021 to 2028 through product development and novel delivery solutions.
Additionally, the credible Asia-Pacific Cannabis Market report helps the manufacturer in finding out the effectiveness of the existing channels of distribution, advertising programs, or media, selling methods and the best way of distributing the goods to the eventual consumers. Taking up such market research report is all the time beneficial for any company whether it is a small scale or large scale, for marketing of products or services. It makes effortless for Food and Beverage industry to visualize what is already available in the market, what market anticipates, the competitive environment, and what should be done to surpass the competitor.
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Industry Segmentation and Size
The cannabis market is segmented on the basis of product type, compound, crop variety, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product type, the cannabis market is segmented into flowers, concentrates and other product types. Other product types are further segmented into capsules, topicals, edibles, and beverages.
On the basis of compound, the cannabis market is segmented into Tetrahydrocannabinol (THC)-dominant, Cannabidiol (CBD)-dominant and Balanced THC and CBD.
On the basis of crop variety, the cannabis market is segmented into cannabis indica, cannabis sativa, and others.
On the basis of application, the cannabis market is segmented into medical and recreational.
On the basis of distribution channel, the cannabis market is segmented into physical, digital and others.
Market Country Level Analysis
The countries covered in the Asia-Pacific cannabis market report are
· Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, and the Rest of Asia-Pacific.
· China dominates the Asia-Pacific cannabis market owning to the vast plantation of cannabis and high investments in the region.
Industry Share Analysis
The major players covered in the cannabis market report are
· Tilray, Marley Natural, Aurora Cannabis, Cara Therapeutics, ARUMA LABS HOLDINGS PTY LIMITED, Medcan Australia, Sundial Growers Inc., Canopy Growth Corporation, GW Pharmaceuticals plc, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek, O.penVAPE Shop., and The Cronos Group, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Asia-Pacific Cannabis Market Report Answers the Following Questions:
What factors are driving the growth of the cannabis market in the Asia-Pacific region?
Which countries in the Asia-Pacific region have legalized medical marijuana?
What are the medical applications of cannabis in the Asia-Pacific region?
How is the increase in disposable income affecting the cannabis market in the Asia-Pacific region?
What opportunities are available for market players in the cannabis market in the Asia-Pacific region?
What are the challenges faced by the cannabis market in the Asia-Pacific region?
What is the market size and growth rate of the cannabis market in the Asia-Pacific region?
Which segments of the cannabis market are expected to grow the most in the Asia-Pacific region?
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