Cannabis Market Trend and Set for Robust Growth During 2021-2029

[Aarti Ghodke]

Cannabis Market size was valued at US$ 28.26 Bn. in 2021 and the total revenue is expected to grow at CAGR of 32.04% through 2022 to 2027, reaching nearly US$ 149.8 Bn. by 2027

 Cannabis Market Overview

Cannabis is a psychotropic substance generated from the Cannabaceae family's cannabis plant. Ancient Indian, Chinese, Egyptian, and Islamic cultures all employed it medicinally. Cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer's, post-traumatic stress disorder (PTSD), Parkinson's, and Tourette's are among the diseases and symptoms for which cannabis is used. Cannabis has been approved for medical usage in a number of nations because to its therapeutic effects, with varied degrees of legal restrictions.

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Cannabis Market Scope

A comprehensive research report on the global Cannabis market is a focused research compilation of all factors that are considered critically for business growth. It includes all key factors such as valuable insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodologies. The report also helps in understanding dynamics and structure by analyzing the market segments and estimating the global Cannabis market size. The report provides a clear representation of the competitive analysis of market players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Cannabis market. The report provides a quantitative analysis of the current market and estimations through the forecast years that assist in identifying the prevailing market opportunities. The study uses research tools such as SWOT analysis and Porter’s Five Forces for the Cannabis market.  

Segmentation:

The cannabis market is divided into two types: Flowers and Concentrates. In 2021, flowers will hold a 57% market share, dominating the cannabis industry. 15% to 30% of THC, 0% to 1% of CBD, and negligible amounts of other cannabinoids are all present in marijuana flowers. These concentrations of concentrates in this ratio are highly helpful in producing medications, mostly for pain and migraines, and they may also be used to produce medications for certain serious and more hazardous conditions, such as cancer and arthritis, which would further increase the market.

Key Players:  The following are the key players of the Cannabis Market-

Canopy Growth Corporation (Canada)
Aurora Cannabis Inc. (Canada)
MedMen (US)
Terra Tech Corp. (US)
Aphria Inc. (Canada)
VIVO Cannabis Inc. (Canada)
The Cronos Group (Canada)
Medical Marijuana Inc. (US)
STENOCARE (Denmark)
Tikun Olam (Israel)
Organigram Holdings Inc. (Canada)

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Regional Analysis:

Analysts at SMR evaluate competitive strengths and conduct competitive analyses for each competitor individually. Global, North America, Europe, Asia-Pacific, Middle East and Africa, and South American market share statistics have been provided individually.

Key Questions Answered in the Cannabis Market Report are:

• What is the current market status of the Cannabis industry?
• What are the key investment pockets in the Cannabis market with respect to product segments and geographies currently and during the projected period?
• Who are the global key players in the Cannabis market?
• Which region holds the maximum share in the global Cannabis market?
• Which segment accounts for the fastest CAGR in the Cannabis market during the forecast years?
• What are the key drivers of the Cannabis market?

 

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