Global Cannabis Market, By Product Type (Buds, Oil, Tinctures, Others), Usage (Medical, Recreational), Crop Variety (Cannabis Indica, Cannabis Sativa, Others), Distribution Channel (Physical, Digital, Others), Country (U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Turkey, Netherlands, Russia, Poland, Denmark, Sweden, Romania, Belgium, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, New Zealand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Peru, Colombia, Rest of South America, South Africa, Saudi Arabia, U.A.E., Kuwait, Qatar, Ethiopia, Israel, Azerbaijan and Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Cannabis market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 34.7% in the above-mentioned forecast period. Increasing number of medicinal applications of cannabis and the increasing legalization of cannabis has been directly impacting the growth of cannabis market.
Cannabis is a plant, people use dried leaves, seed oil, and other parts of the cannabis plant for recreational and medicinal purposes. It can be a happy outcome and can alleviate the symptoms of various conditions, such as chronic pain. Some of the cannabis ingredients work mentally (they change the mind), but some do not. The strength and balance of the ingredients vary, depending on how the producer grows and how the plant works. Cannabis-based products come from dried flower buds, leaves, stems, and seeds of the cannabis sativa (hemp) plant. The legal status of medical and recreational cannabis varies from state to state. People considering buying or using cannabis should first consider whether it is legal in their case.
Increasing number of countries that are gradually legalizing the usage of cannabis across the globe is the main driving factor for the cannabis market. Recreational usage of cannabis is also a driver for the cannabis market. Robust growth in the global demand for cannabis is also a driver for the cannabis market. Advancement in research and development of cannabis and usage in medical treatments is an opportunity for the cannabis market.
Strict regulatory norms about the production and sales of cannabis across various states in the same country is a challenge for the growth of cannabis market. However, increased prices of crops are the main restraint for cannabis market during the forecast period of 2021-2028.
This cannabis market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research cannabis market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In May 2018, Aurora Cannabis Inc. acquired all of the issued and outstanding common shares of MedReleaf in an all-share transaction valued at approximately CAD 3.2 billion on a fully diluted basis. The proposed transaction brings together two of Canada's premier cannabis companies with fully-aligned strategic visions and production philosophies, as well as complementary assets, distribution networks, products, and capabilities.
Cannabis Market Scope and Market Size
Cannabis market is segmented on the basis of product type, usage, crop variety and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Cannabis market has been segmented based on product type into buds, oil, tinctures and others.
- Based on usage, the cannabis market is segmented into medical and recreational.
- Based on crop variety, the cannabis market is segmented into cannabis indica, cannabis sativa and others.
- Based on distribution channel, the cannabis market is segmented into physical, digital and others.
Cannabis Market Country Level Analysis
Cannabis market is analysed and market size insights and trends are provided by country, product type, usage, crop variety and distribution channel as referenced above.
The countries covered in the cannabis market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cannabis market due to usage in various therapies for medical conditions such as anorexia, arthritis, chronic pain, epilepsy, post-traumatic stress disorder and cancer, while Europe is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to changing lifestyle of people, robust demand and supply of cannabis.
The country section of the cannabis market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cannabis Share Analysis
Cannabis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cannabis market.
The major players covered in the cannabis market report 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, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek, SpeedWeed, GW Pharmaceuticals plc., Harborside Health Center, Steep Hill, Inc., CBD Einstein., Weedmaps, Zenabis Global Ltd. GCH, Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Cannabis Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.