Global Cannabis Market Research Report

Cannabis Market:

Growth opportunities in the Cannabis Market look promising over the next six years. This is mainly due to the rising awareness about the effectiveness of cannabis and escalating prevalence of chronic diseases.

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Cannabis Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The biggest driver responsible for the growing prominence of the global cannabis market includes their surging authorization throughout the world. Also, the legalization allowed individuals to apply safe substances with enormous medical advantages. Countries including Canada, Australia, Greece, Germany, and Chile are legalizing its implementation for medical purposes. Moreover, the augmenting incidences of chronic diseases, along with the rising consciousness about their effectiveness on different diseases, is strengthening the cannabis market size. The expanding inclination towards the consumption of cannabis-based consumables further promotes market growth. Individuals are seeking alternatives to smoking flowers with bongs, pipes, or joints. The cannabis-infused edibles such as chocolate, candies, and beverages have cannabinoids and other active compounds from the cannabis plant.

Product type Segment Drivers

Based on the product type, concentrates are expected to expand at a higher CAGR during the forecast period. This is mainly because of the several benefits of this product, such as ease of usage and the changeability n the method of delivery. Moreover, their various forms include dabbing, ingestible oils, and tinctures.

Application Segment Drivers

Based on the application, the recreational segment is predicted to witness a faster CAGR during the forecast period. This is primarily attributed to their robust demand for different recreational purposes. Thereby, the legalization of recreational applications is driving the market growth.

Regional Drivers

Based on the regional coverage, North America is projected to lead the market during the forecast period. Canada, in 2018, legalized the usage of marijuana for recreational purposes in the country. Additionally, in 2018, the U.S. government 2018 accepted the farm bill for the production of cannabis containing less than 0.3% THC legally. In the U.S., ten states have legalized cannabis for recreational usage, while 33 states have approved their utilization for medical purposes. These factors together are propelling the market growth.

Cannabis Market’s leading Manufacturers:

· OrganiGram Holdings

· VIVO Cannabis Inc.

· GW Pharmaceuticals

· Canopy Growth Corporation

· Aphria Inc.

· Tilray

· CannTrust Holdings Inc.

· Cronos Group Inc.

· MedReleaf Corp.

· Aurora Cannabis

Cannabis Market Segmentation:

Segmentation by Application

· Medical

· Recreational

Segmentation by Product Type

· Flowers

· Concentrates

· Others

Segmentation by Compound

· Tetrahydrocannabinol (THC)-Dominant

· Cannabidiol (CBD)-Dominant

· Balanced THC & CBD

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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