Press release
Cannabis Market 2021 Status, Players, Segments Growth, Regional analysis and Forecast to 2028 | Canopy Growth Corporation, Aurora Cannabis Inc., Medman Enterprises, Terra Tech Corp (TRTC)
Cannabis Market
The Cannabis Market is studied from every angle, using both primary and secondary research methods. This offers a better understanding of current market dynamics, such as supply-demand imbalances, price trends, product preferences, and customer behavior patterns, among other things. Primary research with business experts and opinion leaders from around the world confirmed the results. Various market estimation and data validation methodologies are used to compile and verify the data. In addition, we have an in-house data forecasting model that forecasts demand growth through 2028.
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Recent Developments in the Global Cannabis Market
1) December 2020- Aphria Inc. and Tilray, Inc. (Canada) entered into a definitive arrangement to merge their businesses and generate the world’s largest cannabis company. The combined company, assisted by reduced-cost cultivation, transforming, and manufacturing facilities, would have a complete portfolio of branded cannabis 2.0 products in Canada.
2) November 2020- Aphria Inc. declared the completion of the acquisition of SW Brewing Company, LLC (U.S.), one of the highest independent craft brewers. Sweetwater provides complimentary cannabis lifestyle brands, which could assist Aphria to transform its product portfolio.
COVID-19 Impact
As the novel coronavirus (COVID-19) spreads across the globe, our analysts are keeping a close eye on how this rapidly changing situation affects markets and customer purchasing habits. As a result, the implications of this global pandemic will be fully reflected in our most recent projections and analysis of current market dynamics and forecasts.
Key Players
Our market research also includes a section devoted exclusively to certain major players, in which our analysts provide an overview of all of the major players' financial statements, as well as product benchmarking and SWOT analysis. The competitive landscape segment also provides an overview of the above-mentioned players' growth strategies, market share, and market ranking.
Canopy Growth Corporation, Aurora Cannabis Inc., Medman Enterprises, Terra Tech Corp (TRTC), Aphria Inc., VIVO Cannabis, Inc., Stenocare, Tikun Olam, Cresco Labs, Inc., Indiva, Green Thumb Industries, Curaleaf Holdings, Inc., TerrAscend, Ecofiber Limited, and Harvest Health and Recreation, Inc.
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Understanding Segments
On the basis of comprehensive market segmentation, useful data is also given in the Global Market Study. The Global Cannabis Market Segment chapter provides total company revenue (financials), sales and revenue generated, price, industry share, manufacturing sites, and services, product launch. This research provides multiple segments for the industry, such as form, application, technology, and geographical regions. Similarly, the report includes additional data such as product use, information on production, production capacity, and supply and demand analysis of the industry. For the 2016-2028 timeframe, this study offers the sales, income and market share of this segment. The global Cannabis market is divided into the following segments and sub-segments in this report:
By Product Type (Flowers, Concentrates, Others), By Application (Medical, Recreational), By Compound (Tetrahydrocannabinol-Dominant, Cannabidio-Dominant, Balanced THC and CBD
Regional analysis
In 2015, North America accounted for a sizable portion of the global economy. The involvement of the players’ active in supporting quality treatment and developing innovative product development strategies can be attributed to this region's increased Cannabis market share. Reimbursement programs are contributing significantly to the regional share.
Throughout the forecast era, the Asia Pacific region is projected to expand at an exponential rate. This rise is primarily attributed to increasing healthcare spending and disposable income, as well as increasing focus on healthcare in India, China, Japan, and South Korea.
Furthermore, the high quality of healthcare infrastructure is expected to provide lucrative growth opportunities for the Cannabis market in Europe. Furthermore, an increase in product launches across the region, as well as increased competition among key industry players, is one of the major factors driving the growth of the market in France and Germany.
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The following are some of the most frequently asked questions (FAQs):
1. What is the Cannabis Market's current value?
2. What is the Cannabis market's compound annual growth rate (CAGR)?
3. What is the Market's most important driver?
4. What's the most important regional market?
5. What are the Cannabis market's major players?
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