Global Cannabis market is valued at approximately USD 20.6 billion in 2020nd is anticipated to grow with a healthy growth rate of more than 28.5 % over the forecast period 2020-2027. Cannabis is a tall plant that is used as a medicine that is legalized for medicinal use with a stiff upright stem. Growing cannabis legalization, and increasing advancement in cannabis genetic growth and intellectual property is fueling the growth of the market. For example, in January 2018 the Australian government allowed the region’s cannabis growers to export medical cannabis and its products to the global market. Many countries, such as Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, Uruguay and others, have legalized the use of cannabis for medicinal purposes. The provinces of the United States, where cannabis has been widely legalized, include the adult population aged 50 years and over. In addition, According to Cannabis Europa, by the end of 2020, France in Europe could catch up with Germany and the United Kingdom in the legalization of medical cannabis. However, the regulations pertaining to the usage of cannabis is varied from country to country, which may impede market growth over the forecast period of 2020-2027.
The regional analysis of the global Cannabis market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share due to growing legalization of cannabis for medical and recreational applications. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to increasing awareness of CBD among citizens in the region.
Major market player included in this report are:
Canopy Growth Corporation
Aurora Cannabis Inc.
Terra Tech Corp.
VIVO Cannabis Inc.
The Cronos Group
Medical Marijuana Inc.
Organigrams Holding Inc.
Maricann Group Inc.
Harvest Health and Recreation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Balanced THC & CBD
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018-19
Base year – 2019-20
Forecast period – 2021 to 2027.
Target Audience of the Global Cannabis market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers