Global Cannabis Market Size Expected to Reach USD 48.29 Billion By 2027
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Market Size – USD 8.26 Billion in 2019, Market Growth – CAGR of 24.6%, Market Trends – Infusion of cannabis in both alcoholic and non-alcoholic beverages.
The growing legalization of cannabis across the globe and the demand for medical marijuana in managing various neurological and mental disorders are projected to propel”
— EMARGEN RESEARCH
VANCOUVER, BRITISH COLUMBIA, CANADA, May 8, 2023 /EINPresswire.com/ — The new report titled ‘Global Cannabis Market published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments.
The Global Cannabis Market is projected to reach USD 48.29 billion in 2027. The market is being predominantly driven by the growing usage of cannabis for many medicinal and recreational usage and increasing legalization in many countries with proliferating portfolio of end-use products. Rising proven studies suggests supporting the medicinal properties to treat many medical conditions including chronic pain, glaucoma, and poor appetite, nausea, migraines, seizures, and anxiety, among many others have been helping grow its usage amongst the end-users.
The integrated cannabis market refers to the combination of various segments of the cannabis industry, including cultivation, processing, distribution, and retail. This market has been growing rapidly due to the increasing legalization of cannabis for medicinal and recreational purposes in various countries, as well as the rising demand for cannabis-derived products. In this article, we will provide an overview of the integrated cannabis market, its drivers and restraints, growth factors, and some statistics from government organizations.
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Key Points of Cannabis Market:
Extensive coverage of the analysis of the Cannabis market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Cannabis market
Complete data about the key manufacturers and vendors in the Cannabis market
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Cannabis products is expected to drive the demand for Cannabis, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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Leading Companies of the Cannabis Industry and Profiled in the Report are:
The cannabis market is a highly competitive industry, with numerous companies operating in different segments of the market. The industry is evolving rapidly, with new products and innovations being introduced regularly. In this article, we will provide an overview of the competitive landscape of the cannabis market.
Major Players: The major players in the cannabis market include Canopy Growth Corporation, Aurora Cannabis Inc., Tikun Olam, Cannabis Science Inc., Aphria Inc., Maricann Group Inc., Tilray Inc., VIVO Cannabis Inc., Medical Marijuana, Inc., STENOCARE, Cronos Group Inc., Terra Tech Corp., and MedMen, among others. These companies are engaged in various segments of the cannabis industry, including cultivation, processing, distribution, and retail. Canopy Growth is one of the largest cannabis companies in the world, with operations in 12 countries. The company has a diverse product portfolio, including cannabis flowers, oils, and soft gels. Aurora Cannabis is another major player in the industry, with operations in 25 countries. The company has a wide range of cannabis products, including dried flowers, oils, and capsules.
Further key findings from the report suggest
Based on Compound, THC dominates the industry share attributed to the fact that these compound contains the psychoactive substance in marijuana products and is responsible for the head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has significant medical benefits and is considered useful in relieving nausea, appetite loss, and insomnia.
Geographically, North America, especially the United States and Canada, dominates the market. The recent legalization of marijuana taken place in the North America segment for medical purposes has been a significant driver of marijuana market growth. Other major sections include Europe (Germany, Italy, France, the Netherlands, and Spain), Asia Pacific, Latin America, and the Middle East and Africa.
Improving lungs capacity, fighting cancer, helping in weight reduction, treating as an antidepressant, and alleviating anxiety, among others are some of the benefits that can be incubated from cannabis, and have been crucial supporting factors for the market growth.
Based on Type, the Cannabis Market is segmented into:
Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Flower
Concentrates
Others
Compound Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Tetrahydrocannabinol
Cannabidiol (CBD)
Balanced THC & CBD
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Medical
Pain Management
Neurological Health Management
Mental Health Management
Others
Recreational
Others
Regional Analysis:
The report sheds light on the region expected to dominate the Cannabis market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Cannabis market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Key Benefits of Buying the Global Cannabis Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Cannabis market.
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Cannabis Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Cannabis Market
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May 08, 2023, 11:23 GMT
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