Press release
Cannabis Market is Expected to Reach $90.4 billion by 2026
The report "Cannabis Market by Application (Medical and Recreational), Product Type (Flowers and Concentrates), Compound (THC-dominant, CBD-dominant, and Balanced THC & CBD), and Region (North America, South America, Europe, and RoW) - Global Forecast to 2026" According to MarketsandMarkets, the global cannabis market size is estimated to be valued at USD 20.5 billion in 2020. It is projected to reach USD 90.4 billion by 2026, recording a CAGR of 28.0%, in terms of value. The growing medical applications of cannabis is driving the demand for cannabis.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201768301
The flower segment accounted for the largest share in the cannabis market
Based on product type, flower segment dominated the cannabis market. Flower have a wider availability. Also, its method delivery as smoking or vaping the cannabis flower has a quicker effect and is preferred for fast-acting relief.
The medical segment accounts for the second largest market share in the cannabis market
Based on application. medical is the second-largest segment in the overall cannabis market. The growth of this segment is majorly attributed to the increasing legalization of medical cannabis across various regions. Also, the consumers are becoming more aware about the medicinal benefits of cannabis.
The CBD-dominant segment is projected to account for the second-largest share in the cannabis market during the forecast period
By compound, the cannabis market is segmented into THC-dominant, CBD-dominant, and Balanced THC & CBD. CBD-dominant segment accounted for the second-largest market share in the overall cannabis market. It is considered one of the most therapeutic and healing part of the plant. Also, CBD-dominant strains are preferred by consumers suffering from chronic pain, inflammation, anxiety, and other chronic disorders.
The Europe region is the fastest-growing region in the cannabis market in the forecast period
Europe will be the fastest-growing region in the global cannabis market in the forecast period. The cannabis market in Europe is majorly driven by the increasing legalization of medical cannabis in the region coupled with healthcare system present in several Euroepan countries. Along with this, the demand for medical cannabis is rising in the region, further fueling the growth of European cannabis market.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=201768301
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as 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), Cresco Labs (US), Indiva (Canada), Curaleaf Holding Inc. (US), HEXO Corp. (Canada), Ecofibre Limited (Australia), Harvest Health & Recreation (US), Green Thumb Industries (US), Maricann Group Inc. (Canada), and TerrAscend (Canada).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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