Cannabis Market Expected to Reach USD 52,995.4 Million by 2027 With A CAGR Of 22.2% | Growth Market Reports

PUNE, India, Oct. 28, 2020 /PRNewswire/ -- According to a recent market study published by Growth Market Reports (GMR), titled, "Cannabis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast", the market was valued at USD 11,683.3 Million in 2019 and is expected to grow at a healthy growth rate of 22.2% by the year 2027. The global cannabis market is anticipated to grow owing to increasing usage of cannabis for several medical applications. Furthermore, rising application of cannabis for recreational purposes in numerous nations where cannabis is legalized is a primary factor expected to drive the growth of the global cannabis market.

Buy this report from: https://growthmarketreports.com/report/cannabis-market-global-industry-analysis

The global cannabis market is fragmented based on product type, compound, application, legality, and region. In terms of product type, the market is segmented into edible oils, tincture, capsules, creams, CBD extracts/paste, dry herb, and others. On the basis of compound, the market is divided into tetrahydrocannabinol (THC)-dominant, cannabidiol (CBD)-dominant, and balanced THC & CBD. Based on application, the market is classified into pain management, neurological health management, mental health management, and recreational. On the basis of legality, the market is bifurcated into legal and illegal. Based on region, the global cannabis market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S. and Canada. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of the Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa.

In year 2020, the cannabis market is expected to witness a decrease owing to the COVID 19 pandemic. The outbreak has resulted in a moderate decline in indirect sales of cannabis. However, the illegal cannabis market is anticipated to witness a significant decline in demand and supply. Moreover, the impact of COVID-19 is expected to restrain legalization scenarios in several nations in Europe.

Request a free sample copy: https://growthmarketreports.com/request-sample/63

Key Takeaways from the Study:

• Top ten market players hold approximately one sixth of market share of global cannabis market in year 2019.
• North America accounts for a major share of the market, followed by Europe. The market in North America is projected to expand at significant CAGR during the forecast period.
• Based on product type, the dry herb segment is anticipated to expand at a substantial CAGR during the forecast period due to rising popularity for vaporization as recreational applications.
• On the basis of application, the pain management segment is expected to hold a substantial share in the market during the forecast period. The growth is attributed to the use of cannabis in reduction of pain for patients suffering from glaucoma and other pain-causing ailments. Furthermore, the mental health management segment is anticipated to expand at a significant CAGR owing to rising incidence of several mental disorders.

Read 307 Page Research Report With TOC on "Global Cannabis Market By Product Type (Edible Oils, Tincture, Capsules, Creams, CBD Extracts/Paste, Dry Herb, and Others), By Compound (Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, and Balanced THC & CBD), By Application (Pain Management, Neurological Health Management, Mental Health Management, and Recreational), By Legality (Legal and Illegal), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) Size, Share And Trends" at:

Enquiry Before Buying of This Report: https://growthmarketreports.com/enquiry-before-buying/63 

Key Segments Covered

By Product Type

• Edible Oils
• Tincture
• Capsules
• Creams
• CBD Extracts/Paste
• Dry Herb
• Others

By Compound

• Tetrahydrocannabinol (THC)-Dominant
• THC Market Size, By Product Type
• THC Market Size, By Application
• Cannabidiol (CBD)-Dominant
• CBD Market Size, By Product Type
• CBD Market Size, By Application
• Balanced THC & CBD
• Balanced THC & CBD Market Size, By Product Type
• Balanced THC & CBD Market Size, By Application

By Application

• Pain Management
• Neurological Health Management
• Mental Health Management
• Recreational

By Legality

• Legal
• Illegal

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• Italy
• U.K.
• Spain
• Russia
• Rest of the Europe
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• South East Asia (SEA)
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa (MEA)
• Saudi Arabia      
• South Africa
• UAE
• Rest of Middle East & Africa

Key Market Players Profiled in the Report

• Acreage Holdings, Inc.
• Aphria Inc.
• Aurora Cannabis Inc.
• Canopy Growth Corporation
• Cresco Labs Inc.
• Cronos Group Inc.
• Curaleaf, Inc.
• Green Thumb Industries Inc.
• GW Pharmaceuticals plc
• Harvest Enterprises, Inc.
• HEXO Corp.
• MedMen Enterprises Inc.
• Organigram Holdings Inc.
• Tilray, Inc.
• Trulieve Cannabis Corp.

Target Audience:

• Supply-side: Cannabis manufacturers (pharmaceutical companies), raw material suppliers, primary respondents, and distributors.
• Demand Side: Hospital, clinics, homecare, pharmacies, drug stores, group purchasing organizations, medical payers etc.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Food and Drug Administration (FDA), Cannabis Regulatory Authority (CRA), Tobacco Products Agency (TPA), Bureau of Cannabis Control, Manufactured Cannabis Safety Branch (MCSB), CalCannabis Cultivation Licensing, Brazilian Narcotics Act, Ministry of Health Ordinance, PRC Anti-Drug Law, German Narcotics Act ("Betäubungsmittelgesetz", "BtMG"), German Medicines Act ("Arzneimittelgesetz", "AMG"), Volume V of the Social Insurance Code ("Fünftes Buch Sozialgesetzbuch", "SGB V"), German Federal Institute for Drugs and Medical Devices, Ministry of Public Health, and Others

Other Trending Reports:

• Global Energy Drinks Market By Product Type (Drinks, Shots (Traditional Energy Shots, Functional Energy Shots), Mixers), By End User (Kids, Teenagers, Adults), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
• Global Self Adhesive Tapes Market By Construction Type (Single Coated, Transfer Tape/ Unsupported, Double Coated, Self-Wound), By Material (Polypropylene (PP), Paper, PVC, Others), By Adhesive Used (Water-based Adhesive, Hot Melt Adhesive, Others), By Application (Packaging, Building & Construction, Electrical & Electronics, Automotive, Medical, and Others), By Thickness (Micrometre) (Less than 49, 50 - 99, More than 100) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)
• Global Konjac Market By Product Types (Flour, Dietary Fibers, Gum & Gel, and Others), By Functions (Gelling Agent, Thickener, Film Former, Emulsifier, Stabilizer, and Others) By Application (Food Products, Pharmaceuticals, Chemical and Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)
• Liquid Nitrogen Market by End-User (chemicals & pharmaceuticals, food & beverages, healthcare, metal manufacturing, construction, rubber & plastics and electronics and energy), by Function (coolant and refrigerant), by Manufacturing Process (cryogenic distillation and pressure swing adsorption), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) ? Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 ? 2026

About Growth Market Reports:

GMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Industry Intelligence Solutions". GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, and secondary research & consumer surveys.

Contact:
Alex Mathews
1st Floor, Kalpavruksha Office No 1,
GK Lane Number 3,
Ingawale Nagar, Pimple Nilakh, Pune,
Maharashtra 411027
Phone: +1 909 545 6473
Email: [email protected]    
Web: https://growthmarketreports.com/ 
Read our news: https://businessmirrornews.com 

SOURCE Growth Market Reports