Recreational Cannabi*s Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Recreational Cannabi*s 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 recreational cannabi*s market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to shifting societal attitudes, economic impact and tax revenue, medical cannabi*s as a precursor, cannabi*s tourism and hospitality industry.

The recreational cannabi*s market size is expected to see strong growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to expansion of legalization globally, innovations in cannabi*s product offerings, integration of cannabi*s into mainstream culture, health and wellness trends, research and development in cannabinoids. Major trends in the forecast period include focus on wellness and health, sustainability practices, regulatory evolution, social consumption spaces, collaborations and partnerships.

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Market Segmentation:
The recreational cannabi*s market covered in this report is segmented -

1) By Product: Oils, Transdermal Patches, Tablets, Capsule, Vape, Suppositories, Tinctures, Creams, Edibles, Other Products
2) By Compound: Tetrahydrocannabinol (THC) Dominant, Canna bidiol Dominant, Balanced Tetrahydrocannabinol (THC)
3) By Administration: Oral, Topical, Inhalation, Rectal, Sublingual
4) By Application: Chronic Pain, Cancer, Mental Disorder, Sleep Management, Other Applications
5) By End Users: Pharmaceuticals, Food, Beverages, Tobacco, Personal care, Research and Development Center

Major Driver - Recreational Cannabi*s Market Driven By Increasing Prevalence Of Neurological Disorders
The increasing prevalence of neurological disorders is expected to propel the growth of the recreational cannabi*s market going forward. The neurological disorder is a medical condition affecting the central and peripheral nervous systems. It involves the spinal cord, the body's nerves, and the brain. The common types of neurological disorders include Alzheimer's disease, Epilepsy, seizures, and Parkinson's disease. These conditions of neuro are cured by cannabi*s, which helps in treating neurological conditions by controlling calcium homeostasis and lessening neuroinflammation. For instance, in December 2022, according to the report published by Parkinson's Foundation, a US-based non-profit organization working for Parkinson's disease patients, the PD (Parkinson's disease) incidence rate increased to nearly 90,000 diagnoses per year from the previous estimates of 60,000 diagnoses yearly. Therefore, the increasing prevalence of neurological disorders is driving the growth of the recreational cannabi*s market.

Competitive Landscape:
Major companies operating in the recreational cannabi*s market report are The Cronos Group, Verano Holdings, Cresco Labs Inc., SNDL Inc., Medical Marijuana Inc., Tilray Inc., 22nd Century Group, Aurora Cannabi*s Inc., Canopy Growth Corporation, Columbia Care, PharmaCann Inc., Perrigo, Village Farms International Inc, Indiva Limited, VIVO Cannabi*s Inc., TerrAscend Corp., Acreage Holdings, HEXO Corp, 4Front Ventures, C3 Industries, TILT Holdings, Maricann Inc., Organigram Holding Inc., Ascend Wellness Holdings, Curaleaf Holdings Inc., Trulieve Cannabi*s, Green Thumb Industries, Geron Corporation.

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Top Trend - Innovative Offerings Propel Recreational Cannabi*s Market
Product innovations have emerged as a key trend gaining popularity in the recreational cannabi*s market. Major companies operating in the recreational cannabi*s market are concentrating on creating innovative products to strengthen their position in the market. For instance, in June 2023, Aurora Cannabi*s Inc., a Canada-based licensed cannabi*s producer, launched a lineup of innovative recreational cannabi*s products, including Lil' Bits Sour and Sour Watermelon (10 x 1mg edibles), Mango XL Vape, Signature Hash, and others. Lil' Bits Sour and Sour Watermelon Low Dose Edibles give delectable flavor in a snackable form, making them ideal for novice users or micro-dosing. It features crowd-pleasing, nostalgic flavors with little to no aftertaste from the cannabi*s. Mango XL Vape (510-1.2g) uses a blend of quality resin unique to the company and enriched with botanical terpenes to provide a full-spectrum, full-flavor experience. Signature Hash (2g) is a ground-breaking bubble hash blend that raises the benchmark for malleability and burnability.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Recreational Cannabi*s Market Characteristics
3. Recreational Cannabi*s Market Trends And Strategies
4. Recreational Cannabi*s Market - Macro Economic Scenario
5. Recreational Cannabi*s Market Size And Growth
…..
27. Recreational Cannabi*s Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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