Global Recreational Cannabis Market – Industry Trends and Forecast to 2028

  • Food & Beverage
  • Upcoming Report
  • Mar 2021
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Recreational Cannabis Market, By Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC and CBD), Application (Medical and Recreational), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028

Recreational Cannabis Market Market Analysis and Insights : Global Recreational Cannabis Market

Recreational cannabis market is expected to be growing at a growth rate of 3.5% in the forecast period of 2021 to 2028. The growing adoption of cannabis products for numerous healthcare, self-care and medicinal purposes is the key factor driving the growth of the market.

Cannabis is a drug obtained from the Cannabis Sativa, Cannabis Indica, and hybrid strains. The main cannabinoids that are the most effective are tetrahydrocannabinol (THC), the psychoactive compound, and cannabidiol (CBD). The growing acceptance of cannabis in myriad medical applications such as cancer, chronic ailment, and mental disorders are anticipated to drive cannabis market in forthcoming years. The increase in demand for cannabinoid in pharmaceutical industry because of its healing properties is one of the key factors boosting the medical recreational cannabis market in the forecast period of 2021 to 2028.

Medical cannabis products are gaining popularity and acceptance because of ongoing scientific studies regarding its therapeutic features around of the world. Frenetic lifestyle and hectic work are most likely to induce mental stress, sleep disorders, insomnia, sleep apnea, and anxiety amongst the population and this, in result, is expected to boost the growth of the cannabis market in the coming years.

Moreover, the increasing demand for relief from intense pain will heighten the growth of the cannabis market in the near future. Cannabis is economically in demand in forms for instance marijuana, hashish, and Hash oil. A few categories of cannabis are used for producing hemp fiber in use for paper, textiles, and clothing. Factors such as the increasing numbers of countries decriminalizing and legalizing cannabis, health aids of medical cannabis and increasing number of medical cannabis dispensaries are few of the factors expected to boost the growth of the cannabis market. The medical business has recently witnessed an upgrade during the COVID-19 term. Moreover, the amplification of the medical marijuana market is most likely expected to hinder because to the increasing target on designing the vaccine.

On the other hand, high cost of medical recreational cannabis-based products and implementation of stringent regulations associated with the product are factors expected to obstruct the market growth. Side effects such as allergies, headache and substance abuse may challenge the market growth.

Furthermore, the legalization of the product across nations and the increase in research and development activities and investment by companies extend profitable opportunities to the market players. The growth in demand of recreational cannabis based from various end-user industries such as food and beverage, pharmaceuticals, healthcare and personal care and shift in consumer’s preference towards medical cannabis based oil extract-infused products and numerous companies penetrating into bulk as well as finished product business also accelerate the market.

Additionally, growth in awareness about its healing properties and emerging consumer trend owning to the rise in number of social media influencers promoting the benefits of the product and marketing initiatives by industries influence the recreational cannabis market. The complicated administrative design for the management of cannabis is one of the factors expected to hinder the growth recreational cannabis market.

This recreational 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 recreational cannabis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recreational Cannabis Market Scope and Market Size

The recreational cannabis market is segmented on the basis of product type, compound, and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • Based on product type, the recreational cannabis market is segmented into flower, concentrates.

  • Based on compound, the recreational cannabis market is segmented into THC-Dominant, CBD-dominant, and balanced THC and CBD.

  • Based on application, the recreational cannabis market is segmented into medical and recreational.

Recreational Cannabis Market Country Level Analysis

Recreational cannabis market is analysed and market size, volume information is provided by country, product type, compound, and application as referenced above.    

The countries covered in the recreational cannabis market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, Japan, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the recreational cannabis market because of the increasing legalization of cannabis for both medical and recreational purposes. There is an increasing conscious among users regarding the health benefits of cannabis.

The country section of the recreational 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 Recreational Cannabis Market Share Analysis

Recreational 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 recreational cannabis market.

The major players covered in the recreational cannabis market report are Canopy Growth Corporation; Aurora Cannabis.; Tikun Olam.; Cannabis Science Inc.; Aphria; Wayland Gr; Tilray; VIVO Cannabis; Medical Marijuana, Inc.; Stenocare; Terra Tech Corp.; MM Enterprises USA, LLC. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Customization Available : Global Recreational 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 (Fact book) or can assist you in creating presentations from the data sets available in the report.


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