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According to the current analysis of Reports and Data, the global Cannabis Market was valued at USD 20.45 Billion in 2020 and expected to reach USD 137.83 Billion by the year 2028, at a CAGR of 28.57%. Cannabis is mostly consumed for its relaxing and calming effects. In some U.S states, it’s also suggested to help with a range of medical conditions, including chronic pain, glaucoma, and poor appetite. The primary ingredient of cannabis, which is CBD, a non-psychoactive cannabinoid, and often used to help reduce inflammation and ease the pain. It also helps to cure nausea, migraines, seizures, and anxiety. But even after legalization of these products in Canada, the sales were adversely affected in Canada as the licensing process is time-consuming and tedious in nature, as to acquire a marijuana cultivation permit, the producers are required to produce two full crops, get them tested, receive a sale audit which takes another year of the producer.
There has been a lot of advancement happening in the
industry by various key market players to increase market penetration, such as,
In May 2018, Aurora Cannabis acquired MedReleaf. The agreement brings together
two of Canada’s premier marijuana companies with fully-aligned strategic
visions. The company will come together and create a powerful platform for
accelerated growth on a global scale. Aurora and MedReleaf teams consider the
acquisition to be a vital successful deal in the marijuana industry; low production
costs and industry-leading yields can be expected out of this agreement as
Aurora’s programmed greenhouses are anticipated to provide industry-leading
efficiency and low production costs, delivering sustainably robust margins.
MedReleaf’s high-yield cultivation is expected to enhance productivity further
and reduce costs across the combined entity’s facilities and widespread
distribution channels in Canada and internationally will help the two companies
have established distribution agreements in Canada. Additionally, the
organizations have a rapidly growing international footprint through a chain of
in-country sales and distribution capabilities and supply and licensing
contracts in five continents, including countries such as Germany, Italy,
Brazil, and Australia. Both companies are actively involved in initiatives to
develop their international activities further.
The
Cannabis market has been segmented into key regions of the world and offers an
analysis of growth rate, market share, market size, current and emerging
trends, production and consumption ratio, industrial chain analysis, demand and
supply, import and export, revenue contribution, and presence of key players in
each region. A country-wise analysis of the market is offered in the report to
gain a better understanding of the regional spread and progress of the Cannabis
market.
Get a sample of the
report: https://www.reportsanddata.com/sample-enquiry-form/2884
Competitive Landscape:
The research report offers details about leading
companies in the global Cannabis market along with global position, financial
standing, license agreement, products and services portfolio and revenue
contribution of each market player. Key players in the market are focusing on
adopting various strategies such as mergers and acquisition, business expansion
plans, new product launches, partnerships, collaborations, joint ventures to
enhance their product base and gain robust footing in the market.
Market Dynamics:
Increasing consumer inclination towards functional, organic
and probiotic-based food & drinks is providing impetus to the growth of
global food and beverage industry. Various studies have come with health
benefits associated with “ethnic” and organic food products. These foods
improve cardiovascular health, improves arthritis, digestive issues, and other
inflammatory conditions. Consumers are gradually focusing on mindful eating and
consuming food for health and wellness. Changing eating and dietary patterns of
consumers is prompting brand owners and new entrants to introduce healthy foods
options. Several clean-label products have been introduced in the market and
consumer curiosity for new products is immense
Growing middle class consumers with rising
income in developing countries such as India and China will boost food &
beverage market growth. Moreover, increasing consumer preference for procuring
food and beverage items from online platforms due to variety, cost and time-saving
will foster market size through 2028.
Some of the Leading
Market Players Are Listed Below:
·
Canopy Growth Corporation
(Canada),
·
Aurora Cannabis Inc.
(Canada),
·
Tikun Olam (Israel),
·
Cannabis Science Inc.
(US),
·
Aphria Inc. (Canada),
·
Maricann Group Inc.
(Canada),
·
Tilray Inc. (Canada),
·
VIVO Cannabis Inc.
(Canada),
·
Medical Marijuana, Inc.
(US),
·
STENOCARE (Denmark),
·
Cronos Group Inc.
(Canada),
·
Terra Tech Corp. (US),
·
MedMen (US)
Get more Information
about this Report: https://www.reportsanddata.com/report-detail/cannabis-market
Market Segmentation:
The
Global Cannabis Industries are also studied based on leading segments, and
examines dominant product and application segments in detail. The report aims
to help reader’s benefits from the growth prospects existing in the market in
the global Cannabis industries. It offers key information on drivers and
restraints influencing the leading segments in the global Cannabis industries.
Cannabis Market Segmentation based on Product Type:
- Flower
- Concentrates
- Others
Cannabis Market Segmentation based on Compound:
- Tetrahydrocannabinol
- Cannabidiol
(CBD)
- Balanced THC
& CBD
Cannabis Market Segmentation based on Application:
- Medical
- Pain
Management
- Neurological
Health Management
- Mental Health
Management
- Others
- Recreational
For
comprehensive coverage, the report discusses growth prospects, opportunities,
and challenges. The market report considers various key factors across the
leading regions.
Cannabis Market
Segmentation based on Regions:
·
North
America (U.S., Canada, Mexico)
·
Europe
(Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
·
Asia
Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
·
Latin
America (Brazil, Rest of Latin America)
·
Middle
East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East &
Africa)
Key Features of the global Cannabis Market:
·
The
report offers detailed estimations at the regional level with manufacturers,
consumption, sales and import/export dynamics.
·
The
report provides accurate details related of the manufacturers/vendors in the
market, company overview, pricing analysis, financial standing, product
portfolio, and gross profit of leading companies.
·
Company
profiling with prevalent expansion strategies, revenue generation, and recent
developments.
·
Optimum
strategic initiatives for new players in the market.
·
Manufacturing
processes, suppliers, cost, rates of production and consumption, transport mode
and cost structuring, and value chain analysis.
·
The
study also includes supply chain trends, including elaborate descriptions of
the latest technological development
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Thank you for reading our research report. We also
offer report customization as per client requirement. Kindly contact us to know
more about the customization plan and our team will offer you the best suited
report at the earliest.
Key questions addressed in the Report:
· Which
key players are operating in the global Cannabis market?
· Which
key factors are expected to hamper global market revenue growth?
· What
market size is the global Cannabis market expected to reach throughout the
forecast period?
· Which
application segment revenue is expected to expand at a rapid CAGR between 2021
and 2028?
· Which
region is expected to account for robust revenue share throughout the forecast
period?
· Which
regional segment is expected to register fastest revenue CAGR throughout the
forecast period?
· What
revenue CGAR is the global Cannabis market expected to register during the
forecast period?
· What
are the key outcomes of Porter’s Five Force analysis of the Cannabis market?
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