Press release
Cannabinoi*d Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | The Supreme Cannabi*s Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc
Cannabinoi*ds Market Characteristics
The Business Research Company offers in-depth market insights through Cannabinoi*d Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cannabinoi*d market size has grown exponentially in recent years. It will grow from $33.1 billion in 2023 to $39.86 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to medical cannabi*s legalization, increasing acceptance of cannabi*s, research and development, regulatory changes, growing awareness of cannabinoi*d benefits, investments in cannabi*s industry, consumer trends toward natural products..
The cannabinoi*d market size is expected to see exponential growth in the next few years. It will grow to $84.38 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to wider legalization and decriminalization, research advancements, diverse product offerings, international market expansion, public health awareness initiatives.. Major trends in the forecast period include increasing acceptance and destigmatization, diversification of product offerings, innovation in delivery methods, quality and safety standards, social equity and inclusivity initiatives..
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Market Segmentation:
The cannabinoi*d market covered in this report is segmented -
1) By Product Type: Cannabidio*l, Tetrahydrocannabinol, Cannabinol, Other Product Types
2) By Distribution: Hospital Pharmacies, Retail Pharmacies, Online Stores
3) By Application: Medical, Recreational, Industrial Hemp
Major Driver - Cannabinoi*d Market Surges Amidst Rising Prevalence Of Chronic Diseases
The rising prevalence of chronic diseases is expected to propel the cannabinoi*d market. Chronic diseases refer to illnesses that last a year or longer and require ongoing medical attention. The effectiveness of cannabinoi*d, such as smoked marijuana, oromucosal extracts of cannabi*s-based medication, nabilone, dronabinol, and a new TH*C analogue, in the treatment of chronic noncancer pain, was examined in a systematic review of randomized controlled trials. For instance, according to the McKinsey report, it is anticipated that the US illness burden will rise by almost 20% through 2040. Furthermore, according to the Center for Disease Control and Prevention, six in ten Americans live with at least one chronic disease. As a result, the rising prevalence of chronic diseases is driving the growth of the cannabinoi*d market.
Competitive Landscape:
Major companies operating in the cannabinoi*d market report are The Supreme Cannabi*s Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., Aurora Cannabi*s Inc., Innovative Ind Props, Curaleaf Holdings Inc., Green Thumb Industries, Verano Holdings, Trulieve Cannabi*s Corp., Cresco Labs Inc., Cronos Group, TerrAscend Corp., Canopy Growth Corp., Sundial Growers Inc., Decibel Cannabi*s Company, Auxly Cannabi*s Group, Red White & Bloom Brands, BZAM Ltd, Delta 9 Cannabi*s Inc., Mylan N.V., Westleaf Cannabi*s Inc., GrowGeneration, The Scotts Miracle-Gro Company, Jazz Pharmaceuticals plc, Aphria Inc., Organigram Inc., Alkem labs, MediPharm Labs Corp., The Valens GroWorks Inc.
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Top Trend - Innovative Cannabi*s-Based Cosmetics Revolutionize Cannabinoi*d Market Competition
Major companies operating in the cannabinoi*d market are focused on introducing advanced cannabi*s-based cosmetic solutions, such as CBG and CB*D rescue cream, to gain a competitive edge in the market. Cannabi*s-based cosmetic solutions are cosmetic products that contain cannabi*s or its derivatives, such as CB*D or CBG, as an active ingredient. These products are used in the cosmetic industry for various purposes, such as skin moisturizing, anti-aging, and anti-inflammatory effects. For instance, in November 2022, British Cannabi*s, a UK-based producer of cannabi*s, launched the Synergy CBG and CB*D Rescue Cream. It is the UK's first cannabi*s cosmetic to undertake clinical trials, and it is now all the better from having an extra-active ingredient, CBG, in its formula. Together with two natural, legal cannabi*s plant extracts, cannabidio*l (CB*D) and cannabigerol (CBG), Synergy CB*D Rescue Cream is a gentle, natural cream that makes up one of the most comprehensive skin care products on the market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cannabinoi*d Market Characteristics
3. Cannabinoi*d Market Trends And Strategies
4. Cannabinoi*d Market - Macro Economic Scenario
5. Cannabinoi*d Market Size And Growth
…..
27. Cannabinoi*d Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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