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Cannabis Market Global Industry Outlook, Analysis, Size, Share, Growth, Trends and Forecast

02-19-2020 03:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Research for Markets

Cannabis  Market Global Industry Outlook

Cannabis Market Global Industry Outlook

The country section of the 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 new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs 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 sales channels are considered while provided forecast analysis of the country data.

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Cannabis Market is expected to rise by registering a healthy CAGR 29.35% in the forecast period of 2020-2029. The legalization of cannabis and the medical use of cannabis are the main drivers in the market's growth in the forecasted period.

Keeping awareness of the benefits of cannabis, by conducting workshops and symposia and increasing technologically advancing in the field of medical cannabis, will contribute significantly to the growth of the international cannabis market, such as an increasing numbers of countries that decriminalize cannabis use and legalize cannabis for health.

Cannabis Market Definition:

Cannabis is a drug extracted from the cannabis family. It should smoke or chew. Cannabis consumption induces a slight sense of euphoria, impaired judgment and excessive sensitivity. Although leisure marijuana use in some parts of the world and in many US states remains illegal, it seems that there is some possibility for medicinal use, particularly as a palliative for glaucoma and appetite and waste related conditions, as diabetes, AIDS and other diseases sometimes indicate. Cannabis means a group of three plants known as Cannabis Sativa, Cannabis Indica and Cannabis Ruderalis with psychoactive properties.
Few of the major competitors currently working in Cannabis Market are Lexaria Bioscience, Aphria Inc., Aurora Cannabis, Avicanna Inc., Axim Biotechnologies, BOTANIX PHARMACEUTICALS, Gaia Botanicals, LLC, C4 Laboratories, Cannabis Science Inc, CannTrust Holdings, Canopy Growth Corporation, Cardiol Therapeutics Inc., CHARLOTTE'S WEB., Copperstate Farms, LLC, Corbus Pharmaceuticals Holdings, Inc., The Cronos Group, CV Sciences, Inc., Ecofibre Limited, Elixinol Global Limited, Emerald Health Therapeutics, and many others.

Competitive Analysis and Cannabis Market Share Analysis:

Cannabis Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Cannabis Market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Cannabis Market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. Cannabis Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Cannabis Market Scope and Market Size

Cannabis Market has been segmented on the basis of product type, application, compound, distribution channel.

Based on product type, the Cannabis Market has been segmented into Flower, Concentrates, Others.

Based on applications, the cannabis market has been classified into medical, recreational.

Based on compound, the cannabis market has been segmented into THC-dominant, CBD-dominant, balanced THC & CBD.

Based on distributed channel the cannabis market has been segmented into physical, digital, others

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Country Level Analysis of Cannabis Market

On the basis of region, the Cannabis Market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.

Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.

The North American market for cannabis is estimated to account for the largest market share. The US and Canadian economies drive the market primarily in the area. The demand for marijuana in this area is influenced also by the growing legalization of cannabis for medicinal and recreational uses in North America and by rising consumer awareness of the health benefits of cannabis. The presence of major cannabis giants such as Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc., continuously investing and collaborating in the development of new products that satisfy consumer demand, is also contributing to the cannabis market.

In December 2019, MediPharm Labs Corp. has announced its subsidiary MediPharm Labs Australia Pty. Ltd. has obtained State Licenses for Marijuana Substances from the Department of Health and Human Services in Victoria, Australia, and has finished the initial phases of development of its advanced processing plant in Wonthaggi. The MediPharm Labs Australia through store, check and provide marijuana for the purpose of testing for its newly established laboratory under these State licenses. Construction began 18 months ago on the 10,000 square foot plant. The final phase of regulatory approvals is now under way, and is expected to occur in H1 2020, rendering it the first mover in the Australian market for marijuana products MediPharm Labs Australia

In April 2019, Aphria Inc. has launched a new product on the cannabis market, the CBD-based nutraceutical and CBD-based cosmetics line, especially for the German market. The product was launched by the company's CannRelief brand, which is popular in the German market and can help the company increase its market share globally.

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Key Insights in the Cannabis Market report:

Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved

Contact:

Mr. A Naidu

Research for Markets

Tel: +44 8000-4182-37 (UK)

Email: alan.naidu@researchformarkets.com

About Research for Markets:

Research for Markets indulges in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa

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