Cannabis is a psychotropic substance generated from the Cannabaceae family’s cannabis plant. Ancient Indian, Chinese, Egyptian, and Islamic cultures all employed it medicinally. Cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s, and Tourette’s are among the diseases and symptoms for which cannabis is used. Cannabis has been approved for medical usage in a number of nations because to its therapeutic effects, with varied degrees of legal restrictions.
Cannabis Market Report Scope and Research Methodology:
The main goal of the report is to provide a thorough analysis of the Cannabis market in simple language, including both qualitative and quantitative data. It also includes a detailed examination of the Cannabis market drivers, restraints, challenges, and opportunities from 2022 to 2027. The report examines all major aspects of the Cannabis market, including a value chain analysis, PESTLE analysis, Porter’s Five Forces model, market forecasts in terms of value competitive landscape, benchmarking of key players, market dynamics, and future market trends.
The size of the and regional Cannabis markets was estimated using the bottom-up method. To obtain accurate and error-free findings on the Cannabis market, data was gathered using both primary and secondary research methods, and data was gathered using both methodologies. As part of the primary research, interviews were conducted with industry participants, subject-matter experts, high-level executives of key market players, industry consultants, and other experts. Secondary research entails gathering data for the Cannabis market report from a pre-selected set of sources. The PESTLE analysis in the report aids in the development of company strategies in the Cannabis industry. A SWOT analysis was used to determine the market’s strengths and weaknesses.
Cannabis Market Report Overview:
Stellar Market Research has released reports to help clients understand the landscape of the Cannabis Market in which they compete. The report provides market insights to clients in order to help them understand future demand for their product and how competitive the Cannabis is likely to be. The Cannabis market overview contains detailed information about the market’s size, trade statistics, key players, and various market metrics such as life cycle, trends, and so on.
Cannabis Market size was valued at US$ 28.26 Bn. in 2021 and the total revenue is expected to grow at CAGR of 32.04% through 2022 to 2027, reaching nearly US$ 149.8 Bn. by 2027
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Cannabis Market Dynamics:
Cannabis is safer and has less side-effects in comparison to other treatment options – In comparison to other therapy choices, cannabis is safer and has less severe negative effects. It’s also used in conjunction with other medicines, either to improve their efficacy or to mitigate negative side effects. It works wonders in lowering nausea and increasing appetite in chemotherapy patients, for example. It’s also used in tandem with standard opioid medicines, allowing patients to lessen their opioid dosage and frequency while still getting better pain relief. This is one of the major drivers of the Cannabis Market.
Cannabis Market Segmentation:
By Type, the Cannabis Market is segmented as Flowers and Concentrates. Flowers dominate the Cannabis Market with the market share of 57% in the year of 2021. Marijuana flowers contain 15% – 30% of THC, about 0% – 1% of CBD and nominal levels of other cannabinoids. These level of concentrates in this proportion are very useful in making medicines majorly for pains and migraines and can further be used to make medicines for some major and more dangerous illnesses like Cancer and Arthritis and hance such a huge market. Also, the Flowers or the buds are natural and are grown naturally so it has fewer side effects than concentrates. Concentrates on the other hand held the market share of 42% in 2021 as they need to be extracted and primarily include CO2 oil, butane hash oil, shatter, wax, live resin, kief, ice water hash and rosin. This is mainly used for recreational purposes and for medicinal purposes it might be a little too harmful but one positive for concentrates is that it is less addictive. The market of concentrates is rising because of diverse flavour profiles, can be vaporized that is healthier than smoking flower.
By Application, the Cannabis Market is segmented as Medicinal Application and Recreational Application. Medicinal applications dominate the Cannabis Market with the market share of 65% in the year of 2021 as cannabis is legal in most of the world only for medicinal purposes like medications for small and serious illnesses. Sativex, Marinol, and Cesamet are some of the well-known cannabis-based medicines. The medicinal applications are expected to rise at a higher rate in the forecasted period as the Asia Pacific region which has stringent rules against use of cannabis is making its laws a little firm towards use of cannabis and can allow the medicinal use of cannabis in their regions. Recreational applications have the market share of 35% in 2021 as it is not legal to make products using cannabis or marijuana in many parts of the world except North America and Europe. Cannabis is used for making lotions, lubricants, creams, and many more to rectify some problems like muscle soreness, cramping etc and for agriculture sector too so the market is expected to grow in the forecast period.
Cannabis Market Key Players:
Canopy Growth Corporation (Canada)
Aurora Cannabis Inc. (Canada)
MedMen (US)
Terra Tech Corp. (US)
Aphria Inc. (Canada)
VIVO Cannabis Inc. (Canada)
The Cronos Group (Canada)
Medical Marijuana Inc. (US)
STENOCARE (Denmark)
Tikun Olam (Israel)
Organigram Holdings Inc. (Canada)
Cresco Labs (US)
Indiva (Canada)
Curaleaf Holding Inc. (US)
HEXO Corp. (Canada)
Ecofibre Limited (Australia)
Harvest Health & Recreation (US)
Green Thumb Industries (US)
Maricann Group Inc. (Canada)
TerrAscend (Canada)
Cannabis Market Regional Insights:
The Regional Analysis section of the report aids in understanding the Cannabis market in various countries. The Cannabis market in each region is influenced by political, geographic, purchasing behavior, and other factors. The performance of the Cannabis market frequently influences local development plans. The report examines all factors thoroughly, including market size, growth rate, import and export in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Key questions answered in the Cannabis Market are:
Key Offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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