Cannabis Market Historic and Future Trends Worth USD 48.29 Billion By 2027
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The growing legalization of cannabis across the globe and the demand for medical marijuana in managing various neurological and mental disorders are projected.
VANCOUVER, BRITISH COLUMBIA, CANADA, May 24, 2023 /EINPresswire.com/ -- The latest report titled ‘Global Cannabis Market published by Emergen Research, provides the reader with a comprehensive view of the global Cannabis industry, acquainting them with the latest market trends, industry insights, and market share. The report provides an in-depth investigation of the global market, largely focusing on each segment and sub-segment of the Cannabis market. The market forecasts included in the report are performed by our team of experts and are of great significance as they provide deep insights into various crucial industry parameters.
The Global Cannabis Market is projected to reach USD 48.29 billion in 2027. The market is being predominantly driven by the growing usage of cannabis for many medicinal and recreational usage and increasing legalization in many countries with proliferating portfolio of end-use products. Rising proven studies suggests supporting the medicinal properties to treat many medical conditions including chronic pain, glaucoma, and poor appetite, nausea, migraines, seizures, and anxiety, among many others have been helping grow its usage amongst the end-users.
These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period. The market research report contains significant details on the global Cannabis market value based on market dynamics and various growth factors. It scrutinizes several key aspects of the market, including the latest technological innovations in the industry, ongoing trends, and developmental opportunities. One of the most vital components of the report is the SWOT analysis, coupled with a detailed overview of the market’s competitive landscape.
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Competitive Landscape:
The leading companies operating in the Cannabis market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Cannabis market and pinpoint the fundamental growth trends.
Leading companies profiled in the report are:
Canopy Growth Corporation, Aurora Cannabis Inc., Tikun Olam, Cannabis Science Inc., Aphria Inc., Maricann Group Inc., Tilray Inc., VIVO Cannabis Inc., Medical Marijuana, Inc., STENOCARE, Cronos Group Inc., Terra Tech Corp., and MedMen
Further key findings from the report suggest
Based on Compound, THC dominates the industry share attributed to the fact that these compound contains the psychoactive substance in marijuana products and is responsible for the head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has significant medical benefits and is considered useful in relieving nausea, appetite loss, and insomnia.
Geographically, North America, especially the United States and Canada, dominates the market. The recent legalization of marijuana taken place in the North America segment for medical purposes has been a significant driver of marijuana market growth. Other major sections include Europe (Germany, Italy, France, the Netherlands, and Spain), Asia Pacific, Latin America, and the Middle East and Africa.
Improving lungs capacity, fighting cancer, helping in weight reduction, treating as an antidepressant, and alleviating anxiety, among others are some of the benefits that can be incubated from cannabis, and have been crucial supporting factors for the market growth.
Market Segmentation by product type:
Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Flower
Concentrates
Others
Compound Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Tetrahydrocannabinol
Cannabidiol (CBD)
Balanced THC & CBD
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Medical
Pain Management
Neurological Health Management
Mental Health Management
Others
Recreational
Others
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Major Regions Covered in the Cannabis Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Reasons to Buy This Report:
The report presents a thorough examination of the Cannabis market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/cannabis-market
Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.
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