Cannabis Market
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| Base Year: | 2020 | Forecast Period: | 2021-2028 |
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The key participating players in global cannabis market are Canopy Growth Corporation, Aurora Cannabis Inc., MedMen, Terra Tech Corp., Aphria Inc., VIVO Cannabis Inc., The Cronos Group, Medical Marijuana Inc., STENOCARE, Tikun Olam, Organigram Holdings Inc., Cresco Labs, Indiva, Curaleaf Holding Inc., HEXO Corp., Ecofibre Limited, Harvest Health & Recreation, Green Thumb Industries, Maricann Group Inc., and TerrAscend. |
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| Market Size: | USD 127.3 Bn by 2028 | CAGR (2021 -2028): | 27.6% |
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Cannabis Market Overview
The report is titled as 'Cannabis Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the cannabis market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The cannabis market is expected to grow at a significant rate in the near future.
The global cannabis market was valued US$ 18.1 Bn at the end of 2020 and expected to reach at a value of US$ 127.3 Bn by 2028 with a significant CAGR of 27.6%.
Cannabis Introduction
Cannabis sativa L. (Cannabaceae) is one of the earliest medicinal plants utilized by humans. Basically, Cannabis is the preferable identification name of the plant Cannabis indica, Cannabis sativa, and of minor significance, Cannabis ruderalis. For thousands of years, the plant has served its utility for mankind for oil and fiber production, and simply as a supplement for different food items.
Cannabis is the world's most ordinarily cultivated, smuggled, and used as unauthorized and illegal drug, and in addition to that, as the encouragement for legalization of cultivation of cannabis at home and abroad is surging, cannabis or marijuana is gaining significant attention from manufacturers, investors, and researchers across the world.
Moreover, cannabis is considered to contain a variety of medicinally essential compounds such as, terpenoids, cannabinoids, alkaloids, flavonoids, and others, which further escalates its applications in medicinal uses in the healthcare sector. Cannabis, which was once considered an unauthorized and illegal substance is believed a restricted and governed drug within several government guidelines in present times. Although the infamy is being cast off at a rapid pace, and it appears cannabis or marijuana is swiftly on its way to be accepted as mainstream.
Cannabis Market Dynamics
The fact that the world has witnessed significant steps taken and great progress made in the legalization of cannabis that resulted in the emergence and growth of a new industry. Also, being it one of the most commonly cultivated and used unlawful and prohibited drugs, the world is now getting acquainted with its various beneficial attributes, which has favorably compelled regulatory bodies to legalize the cultivation and use of cannabis across the world. Owing to which, the global cannabis market is projected to grow briskly in the near future.
With the same token, cannabis or marijuana is gaining enormous momentum in the global markets, in the present times, owing to its therapeutic applications as well as medicinal benefits, which in turn is further expected to positively fuel the growth of the global cannabis market in the forthcoming years.
Cannabis is said to be helpful in losing body weight, improving lung capacity, preventing and regulating diabetes as well as seizures, treating glaucoma, fighting diseases like anxiety and depression, and more importantly it has the potential to fight cancer. Attributing all such beneficial factors, cannabis is anticipated to gain massive traction in the years to come, therefore the global cannabis market is projected to observe major breakthrough over the forecast period.
However, the rigid and monitoring regulatory structure for the use of cannabis/marijuana across the world is still a restraining factor for the future growth of the global cannabis market. By the same token, along with the stringent regulations, free public trade and consumption is also not allowed and legal, across various parts of the world, which is also likely to hold back the growth of the global cannabis market to the bounds over the coming years.
Nevertheless, the rapid advancements in the cannabis industry has led many major players of the market to focus on R&D and novel product development, which is further expected to accelerate the growth of the global cannabis market in the upcoming future
Cannabis Market Segmentation
The global cannabis market is segmented on the basis of type, application, compound and regions. On the basis of type, the cannabis market is segmented into Flower, Concentrates, and Others (capsules, topicals, edibles, and beverages). On the basis of application, the market is categorized into Medical and Recreational. Furthermore, the cannabis market is segmented on the basis of compound into THC-dominant, CBD-dominant, and Balanced THC & CBD.
The research report classifies the global cannabis market based on type, application, compound and regions.
By Type
Flower
Concentrates
Others (capsules, topicals, edibles, and beverages)
By Application
Medical
Recreational
By Compound
THC-dominant
CBD-dominant
Balanced THC & CBD
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Cannabis Market Key Players
The key participating players in global cannabis market are Canopy Growth Corporation, Aurora Cannabis Inc., MedMen, Terra Tech Corp., Aphria Inc., VIVO Cannabis Inc., The Cronos Group, Medical Marijuana Inc., STENOCARE, Tikun Olam, Organigram Holdings Inc., Cresco Labs, Indiva, Curaleaf Holding Inc., HEXO Corp., Ecofibre Limited, Harvest Health & Recreation, Green Thumb Industries, Maricann Group Inc., and TerrAscend.
Reports & Insights Overview on Cannabis Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the cannabis market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of cannabis
Advantage of cannabis
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
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1. Global Cannabis Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Cannabis Market Overview
2.1. Introduction
2.1.1. Introduction
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Cannabis Market Snapshot
2.4. Global Cannabis Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Cannabis Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Porter’s Five Forces Model
2.7. SWOT Analysis
3. Cannabis Assessment and Analysis
3.1. Cannabis Impact Analysis
3.2. Actions to encourage use of Cannabis
3.3. Cannabis Promotional Strategy Recommendation
3.4. Road Map Analysis
3.5. GAP Analysis
3.6. Potential Analysis
4. Covid-19 Impact on Cannabis Market
4.1. Impact Analysis of Covid-19 on the global Cannabis market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Fluctuation in Production
4.5. Volatility In Price
4.6. Effect On The Overall Trade
4.7. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Cannabis Market, By Type
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Type
5.1.2. BPS Analysis, By Type
5.2. Market Revenue (US$Mn) and Forecast, By Type
5.2.1. Flower
5.2.2. Concentrates
5.2.3. Others (capsules, topicals, edibles, and beverages)
5.3. Global Cannabis Market Attractiveness Index, By Type
6. Global Cannabis Market, By Application
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Application
6.1.2. BPS Analysis, By Application
6.2. Market Revenue (US$Mn) and Forecast, By Application
6.2.1. Medical
6.2.2. Recreational
6.3. Global Cannabis Market Attractiveness Index, By Application
7. Global Cannabis Market, By Compound
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Compound
7.1.2. BPS Analysis, By Compound
7.2. Market Revenue (US$Mn) and Forecast, By Compound
7.2.1. THC-dominant
7.2.2. CBD-dominant
7.2.3. Balanced THC and CBD
7.3. Global Cannabis Market Attractiveness Index, By Compound
8. Global Cannabis Market, By Region
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Region
8.1.2. BPS Analysis, By Region
8.2. Market Revenue (US$Mn) and Forecast, By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East
8.2.6. Africa
8.3. Global Cannabis Market Attractiveness Index, By Region
9. North America Cannabis Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) and Forecast, By Country
9.2.1. U.S. Cannabis Market
9.2.2. Canada Cannabis Market
9.3. North America Cannabis Market, By Type
9.3.1. Flower
9.3.2. Concentrates
9.3.3. Others (capsules, topicals, edibles, and beverages)
9.4. North America Cannabis Market, By Application
9.4.1. Medical
9.4.2. Recreational
9.5. North America Cannabis Market, By Compound
9.5.1. THC-dominant
9.5.2. CBD-dominant
9.5.3. Balanced THC and CBD
9.6. North America Cannabis Market Attractiveness Index
9.6.1. By Country
9.6.2. By Type
9.6.3. By Application
9.6.4. By Compound
10. Latin America Cannabis Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. Brazil Cannabis Market
10.2.2. Mexico Cannabis Market
10.2.3. Rest Of Latin America Cannabis Market
10.3. Latin America Cannabis Market, By Type
10.3.1. Flower
10.3.2. Concentrates
10.3.3. Others (capsules, topicals, edibles, and beverages)
10.4. Latin America Cannabis Market, By Application
10.4.1. Medical
10.4.2. Recreational
10.5. Latin America Cannabis Market, By Compound
10.5.1. THC-dominant
10.5.2. CBD-dominant
10.5.3. Balanced THC and CBD
10.6. Latin America Cannabis Market Attractiveness Index
10.6.1. By Country
10.6.2. By Type
10.6.3. By Application
10.6.4. By Compound
11. Europe Cannabis Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. U.K. Cannabis Market
11.2.2. Germany Cannabis Market
11.2.3. Italy Cannabis Market
11.2.4. France Cannabis Market
11.2.5. Spain Cannabis Market
11.2.6. Russia Cannabis Market
11.2.7. Rest Of Europe Cannabis Market
11.3. Europe Cannabis Market, By Type
11.3.1. Flower
11.3.2. Concentrates
11.3.3. Others (capsules, topicals, edibles, and beverages)
11.4. Europe Cannabis Market, By Application
11.4.1. Medical
11.4.2. Recreational
11.5. Europe Cannabis Market, By Compound
11.5.1. THC-dominant
11.5.2. CBD-dominant
11.5.3. Balanced THC and CBD
11.6. Europe Cannabis Market Attractiveness Index
11.6.1. By Country
11.6.2. By Type
11.6.3. By Application
11.6.4. By Compound
12. Asia Pacific Cannabis Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. China Cannabis Market
12.2.2. India Cannabis Market
12.2.3. Japan Cannabis Market
12.2.4. Australia and New Zealand Cannabis Market
12.2.5. South Korea Cannabis Market
12.2.6. Rest of Asia Pacific Cannabis Market
12.3. Asia Pacific Cannabis Market, By Type
12.3.1. Flower
12.3.2. Concentrates
12.3.3. Others (capsules, topicals, edibles, and beverages)
12.4. Asia Pacific Cannabis Market, By Application
12.4.1. Medical
12.4.2. Recreational
12.5. Asia Pacific Cannabis Market, By Compound
12.5.1. THC-dominant
12.5.2. CBD-dominant
12.5.3. Balanced THC and CBD
12.6. Asia Pacific Cannabis Market Attractiveness Index
12.6.1. By Country
12.6.2. By Type
12.6.3. By Application
12.6.4. By Compound
13. Middle East Cannabis Market Analysis and Forecast, 2020–2028
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. GCC Countries Cannabis Market
13.2.2. Israel Cannabis Market
13.2.3. Rest Of Middle East Cannabis Market
13.3. Middle East Cannabis Market, By Type
13.3.1. Flower
13.3.2. Concentrates
13.3.3. Others (capsules, topicals, edibles, and beverages)
13.4. Middle East Cannabis Market, By Application
13.4.1. Medical
13.4.2. Recreational
13.5. Middle East Cannabis Market, By Compound
13.5.1. THC-dominant
13.5.2. CBD-dominant
13.5.3. Balanced THC and CBD
13.6. Middle East Cannabis Market Attractiveness Index
13.6.1. By Country
13.6.2. By Type
13.6.3. By Application
13.6.4. By Compound
14. Africa Cannabis Market Analysis and Forecast, 2020–2028
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. South Africa Countries Cannabis Market
14.2.2. Egypt Cannabis Market
14.2.3. North Africa Cannabis Market
14.2.4. Rest of Africa Cannabis Market
14.3. Africa Cannabis Market, By Type
14.3.1. Flower
14.3.2. Concentrates
14.3.3. Others (capsules, topicals, edibles, and beverages)
14.4. Africa Cannabis Market, By Application
14.4.1. Medical
14.4.2. Recreational
14.5. Africa Cannabis Market, By Compound
14.5.1. THC-dominant
14.5.2. CBD-dominant
14.5.3. Balanced THC and CBD
14.6. Africa Cannabis Market Attractiveness Index
14.6.1. By Country
14.6.2. By Type
14.6.3. By Application
14.6.4. By Compound
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Canopy Growth Corporation
15.1.1.1. Company Overview
15.1.1.2. Financial Overview
15.1.1.3. Key Developments
15.1.1.4. Strategies
15.1.1.5. Product Analysis
15.1.2. Aurora Cannabis Inc. (Canada)
15.1.3. Cannabis Science Inc.,
15.1.4. Aphria Inc.
16. Acronyms
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Frequently Asked Questions
The global cannabis market was valued US$ 18.1 Bn at the end of 2020 and expected to reach at a value of US$ 127.3 Bn by 2028 with a significant CAGR of 27.6%.
Great progress made in the legalization of cannabis that resulted in the emergence and growth of a new industry and its therapeutic applications as well as medicinal benefits are the key factors driving the growth of market
The research report classifies the global cannabis market based on type, application, compound and regions.
Canopy Growth Corporation, Aurora Cannabis Inc. (Canada), Cannabis Science Inc., and Aphria Inc. are the key participating players in the market
