Legalization of Medical and Recreational Use of Cannabis is Driving the growth of Global Cannabis Market in the forecast period of 2019 to 2026

Global Cannabis Market is expected to reach USD 186,613.15 million by 2026, growing with a healthy CAGR in the forecast period of 2019 to 2026.

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Drivers: Global Cannabis Market

  • Legalization of medical and recreational use of cannabis
  • Medical advantages of cannabis

Restraints

  • Scarcity of water and sustainable agriculture
  • Lack of awareness related to benefits of cannabis

Opportunity

  • Innovation in variety of sativa products

Challenge

  • High taxes imposed on cannabis

Market Trends:

Global cannabis market is segmented into four notable segments which are based on the basis of product type, usage, crop variety and distribution channel.

  • On the basis of product type, the market is segmented into buds, tinctures, oil and others. The buds segment is expected to grow with the highest CAGR in the forecast period of 2019 to 2026.
  • On the basis of usage, the market is segmented into medical and recreational
  • On the basis of crop variety, the market is segmented into cannabis indica, cannabis sativa and others
  • On the basis of distribution channel, the market is segmented into physical, digital and others

Key Market Players: Global Cannabis Market

The key market players for global cannabis market are O.penVAPE Shop., The Cronos Group, 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. and Cannatrek.