North America Cannabis Market By Product Type (Buds, Oil, Tinctures, Others), Usage (Medical, Recreational), Crop Variety (Cannabis Indica, Cannabis Sativa, Others), Distribution Channel (Physical, Digital, Others) and Country (U.S., Canada) - Industry Trends and Forecast to 2026
Cannabis is a type of drug that is obtained from plants such as cannabis indica and cannabis sativa. The active chemical present in the plant is tetrahydrocannabinol (THC). Cannabis plant has several medical as well as recreational usages. In medical, cannabis is reported to treat nausea, vomiting, chronic pains, asthma and many more diseases. The plant also has psychoactive and physiological effects when taken into the body.
North America cannabis market is projected to register a healthy CAGR in the forecast period of 2019 to 2026.
Segmentation: North America Cannabis Market
North America 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, oil, tinctures and others
- 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
Competitive Analysis: North America Cannabis Market
Some of the major players operating in this 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., Cannatrek and others.
- In November 2019, SLANG Worldwide Inc. announced the launch of its new product line, RESERVE; in California market that is an extension of O.penVAPE brand. The company became best-selling cannabis brand in the United States due to the launch of this product.
- In April 2019, Aphria Inc. launched a new product into the cannabis market namely CBD-based nutraceutical and CBD-based cosmetics line especially for the German market. The product was launched by the Cann Relief brand of the company as they are popular in the German market and can help the company increase its market share North America.
- In February 2018, MedReleaf Corp. launched its product San Rafael '71, the first adult-use recreational brand. This product is designed for the people who are aware of the cannabis products and their effects.
Research Methodology: North America Cannabis Market
Primary Respondents: key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.