Cannabis, commonly known amongst consumers as marijuana is extracted from “cannabis” plant types such as “cannabis indica” and “cannabis sativa”. It is a drug that is utilized in various medicinal and recreational applications. In recreational uses, it has various psychoactive and psychological effects on the consumer. Whereas, for medicinal purposes it is a known ailment for nausea, pains, asthma, glaucoma and vomiting among various other disorders. This extract is consumed in various forms such as smoking, vaping, food ingredient, liquid extract and various other types.
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The main factors boosting the market are:
The market is segmented on the basis of product type as buds, oils, tinctures, others; usage as medical, recreational; crop type as cannabis indica, cannabis sativa, others; distribution channel as physical, digital, others.
Some of the recent market developments are as follows:
“According to Data Bridge Market Research, global cannabis market is expected to be growing at a healthy CAGR of 34.7% during the forecast period of 2019 to 2026”
Some of the major players operating in the 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, INSYS THERAPEUTICS, INC., GW Pharmaceuticals plc, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek and others.
With wide-scale acceptance and legalization of cannabis and associated products from the various regions, intervention of governments and authorities have been enhanced, as they are focusing on provision of better products quality to worldwide consumers. This has resulted in availability of various standards and methods for cultivation of cannabis plants. This trend has presented market players of cannabis to focus on their marketing and product pricing strategies by boasting their cultivation process as per the standards set by different authorities helping them in providing their consumers with better quality of products.
Global Medical Cannabis Market – Industry Trends and Forecast to 2027
Global Cannabis Market – Industry Trends and Forecast to 2026
Asia-Pacific Cannabis Market - Industry Trends and Forecast to 2026
Europe Cannabis Market - Industry Trends and Forecast to 2026
Middle East and Africa Cannabis Market - Industry Trends and Forecast to 2026
North America Cannabis Market - Industry Trends and Forecast to 2026