Industry Analysis
Data Bridge Market Research reports that the use of medicinal cannabis has contributed to the growth of the overall cannabis market. Numerous countries have given their approval for medicinal use of cannabis, including Australia, Canada, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, and Uruguay, among others. The research estimates that the cannabis market was valued at USD 25.40 billion in 2021 and is projected to reach USD 168.58 billion by 2029, growing at a CAGR of 9% during the forecast period from 2022 to 2029.
A meticulous study of the competitive landscape of the market has been given in the Cannabis Market survey document along with the insights of the companies, financial status, trending developments, mergers, acquisitions and SWOT analysis. This market research will give a clear and specific idea to the readers about the overall market to take valuable decisions. The document focuses on the leading global industry players providing information such as company profiles, specifications, capacity, cost, revenue and contact information. An influential Data bridge market research report also offers comprehensive statistics on important aspects such as growth drivers, challenges and industry prospects.
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Market Insights and Scope
Cannabis is a plant that has both recreational and medicinal purposes. Its dried leaves, seed oil, and other parts are used for various purposes. Its therapeutic properties have been recognized by many, and it has been proven to provide relief for symptoms of various illnesses, including chronic pain.
Additionally, the credible Cannabis Market report helps the manufacturer in finding out the effectiveness of the existing channels of distribution, advertising programs, or media, selling methods and the best way of distributing the goods to the eventual consumers. Taking up such market research report is all the time beneficial for any company whether it is a small scale or large scale, for marketing of products or services. It makes effortless for Food and Beverage industry to visualize what is already available in the market, what market anticipates, the competitive environment, and what should be done to surpass the competitor.
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Industry Segmentation and Size
Product Type
- Buds
- Oil
- Tinctures
Usage
- Medical
- Recreational
Crop Variety
- Cannabis Indica
- Cannabis Sativa
Distribution Channel
- Physical
- Digital
Market Country Level Analysis
The countries covered in the cannabis market report are
- S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Industry Share Analysis
Some of the major players operating in the cannabis market are:
- The Cronos Group (Canada)
- Tilray (US)
- Marley Natural (US)
- Aurora Cannabis (Canada)
- Cara Therapeutics (US)
- ARUMA LABS HOLDINGS PTY LIMITED (Australia)
- Medcan Australia (Australia)
- Sundial Growers Inc. (Canada)
- Canopy Growth Corporation (Canada)
- The Scotts Company LLC (US)
- Aphria Inc. (Canada)
- VIVO Cannabis Inc. (Canada)
- Cannatrek (Australia)
- SpeedWeed (US)
Cannabis Market Report Answers the Following Questions:
What is the current market value of the cannabis market?
What is the estimated growth rate of the cannabis market during the forecast period?
What are the key factors driving the growth of the cannabis market?
What are the main uses of cannabis in the medical industry?
What countries have legalized the use of cannabis for medicinal purposes?
What are the potential challenges faced by the cannabis market in terms of regulations and social acceptance?
How does the cannabis market compare with the traditional pharmaceutical industry in terms of market size and growth potential?
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