Press release
Global Cannabis Market to Witness a CAGR of 14.1% : Aphria, Inc. Aurora Cannabis Cannabis Science, Inc. Canopy Growth Corporation Medical Marijuana, Inc. VIVO Cannabis Inc. Tikun Olam Ltd
Cannabis Market
The global Cannabis Market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027.
The key factors such as legalization of medical cannabis, increasing awareness of medical cannabis through conferences, symposia, and workshops, and growing medicinal application of cannabis boosting the market over the years. The North America region is the fastest growing market among the all regions and is expected to grow with CAGR of 35.3%. This market is expected to reach to US$ 67,915.6 in 2027 from US$ 4,518.7 Mn in 2018. The growth in North America is characterized by increase in the approval of cannabis medicinal products. Moreover, increasing number of companies offering medicinal cannabis, growing medicinal applications of cannabis and increasing key factors contributing to the growth of cannabis market.
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GLOBAL CANNABIS MARKET – MARKET SEGMENTATION
Global Cannabis Market – By Product Type
Flowers
Concentrates
Others
Global Cannabis Market – By Application
Medical
Pain Management
Neurological Health Management
Mental Health Management
Others
Recreational
Global Cannabis Market – By Compound
Tetrahydrocannabinol (THC)-Dominant
Cannabidiol (CBD)-Dominant
Balanced THC and CBD
Global Cannabis Market – By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
South America (SAM)
Brazil
Argentina
Company Profiles
Aphria, Inc.
Aurora Cannabis
Cannabis Science, Inc.
Canopy Growth Corporation
Medical Marijuana, Inc.
VIVO Cannabis Inc.
Tikun Olam Ltd
Terra Tech Corp.
Tilray
Cronos Group
Product Type Insights
The global cannabis market, based on the product type was segmented into flower, concentrates and others. In 2018, the flowers held a largest market share of the cannabis market, by product type. However, the concentrates segment is expected to witness the highest CAGR of 36.0% over the coming years. The flowers hold a major share in the cannabis market as highest levels of cannabinoids are found in the leaves and flowers of cannabis. On the other hand, the concentrates of marijuana have higher proportions of terpenes and cannabinoids as compared to naturally occurring cannabis flowers, which accounts for its fastest growth in the global cannabis market.
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