Cannabinoids Market all set to rise at growth rate of 21.18% CAGR | Valuation at $42.89 Billion
NEW YORK, July 26, 2023 /PRNewswire/ -- The cannabinoids marketis set to grow by USD 42.89 billion from 2022 to 2027, progressing at a CAGR of 21.18% during the forecast period. DiscoverLeisure Products' industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!
The cannabinoids market covers the following areas:
The cannabinoids market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Vendor Offering
Aurora Cannabis Inc. - The company offers cannabinoid solutions for medical institutions, hospitals, doctors, pharmacists, and patients across Europe to access safe and reliable cannabis-based medicines.
Cronos Group Inc. - The company offers cannabinoid solutions through its subsidiary Spinach, PEACE NATURALS, and Lord Jones.
Ecofibre Ltd - The company offers cannabinoid solutions such as Industrial hemp.
For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in minutes
Key Market Segmentation
The market is segmented by application (medical and non-medical), and channel (retail pharmacies, online stores, and hospitals)
The market share growth by the medical segment will be significant during the forecast period. Traditional pain-relieving medications are being replaced by Medical cannabinoids. This is due to the various benefits it offers like easing various types of chronic pain, resulting from nerve damage and inflammation. Furthermore, Cannabis indica, Cannabis sativa, and hybrids are some of the types of cannabinoid plants used for chronic pain relief. Hence, these benefits are expected to drive segment growth during the forecast period.
By geography, the market is segmented by North America, Europe, APAC, South America, and Middle East and Africa
North America is estimated to contribute 90% to the growth of the global market during the forecast period. government initiatives to legalize medical cannabinoids are primarily driving market growth. THC in medical cannabinoids resembles the cannabinoid chemicals that occur in the body naturally. The use of cannabinoids has been legalized for medical purposes in the US and Canada. Hence, these factors are expected to drive market growth in the region during the forecast period.
For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report
The increasing legalization of cannabinoids is a key factor driving market growth. The medical use of cannabis is now legalized in several nations. For instance, the US government introduced the Medical Cannabinoids and Cannabidiol Research Expansion Act in December 2022 to create a new registration system for cannabinoid research. Additionally, Malta became the first EU member to legalize the recreational use of cannabis. Hence, the legalization of cannabinoids by various governments is expected to drive market growth in the region during the forecast period.
Major Trends
The launch of medical cannabinoid education programs is a major trend in the market. The use of medical cannabis has been made legal by the governments of various nations, including the US, Canada, Columbia, Germany, and Greece. As a result, there are more dispensaries selling medical marijuana. People should therefore be informed about medical cannabinoids. As a result, numerous academic institutions are starting to offer educational programs on medical cannabinoids.
Significant Challenges
The side effects associated with the inappropriate use of medical cannabinoids are a significant challenge restricting market growth. Cannabis sativa refers to the active components of medical cannabinoids. They also contain additional substances, the quantity of which varies depending on the plan. It is difficult to determine the dosage of medicinal marijuana that patients need due to these considerations. In addition, severe side effects include sadness, an elevated heart rate, and trouble remembering and learning new things. Hence, these factors are expected to restrict market growth during the forecast period.
Gain instant access to 17,000+ market research reports.
The trampoline market is estimated to grow at a CAGR of 4.83% between 2022 and 2027. The market size is forecast to increase by USD 880.13 million. Furthermore, this report extensively covers market segmentation by product (round trampolines, rectangular and square trampolines, and others), end-user (commercial and individual), distribution channel (offline and online), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing awareness of the health benefits of trampolines is a key factor driving the market growth during the forecast period.
The corporate entertainment market is estimated to grow at a CAGR of 4.95% between 2022 and 2027. The market size is forecast to increase by USD 47.72 billion. Furthermore, this report extensively covers market segmentation by type (conventions, retreats, office parties, and others), application (25-55 years, under 25 years, and over 55 years), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing popularity of interactive videos is a key factor driving market growth during the forecast period
Cannabinoids Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 21.18%
Market growth 2023-2027
USD 42.89 billion
Market structure
Fragmented
YoY growth 2022-2023(%)
20.12
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 90%
Key countries
US, Canada, Australia, The Netherlands, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Aurora Cannabis Inc., Canopy Growth Corp., Cresco Labs LLC, Cronos Group Inc., CV Sciences Inc., Delta 9 Cannabis, Ecofibre Ltd., INDIVA.com LLC., Jazz Pharmaceuticals Plc, Medical Marijuana Inc., MediPharm Labs Inc., Medix CBD, Medterra CBD, MM Enterprises USA LLC, Organigram Holdings Inc., STENOCARE AS, Terrascend Canada, Tilray Brands Inc., Trulieve Cannabis Corp., and Unrivaled Brands Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Channel
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global cannabinoids market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global cannabinoids market 2017 - 2021 ($ billion)
Exhibit 167: Unrivaled Brands Inc. - Business segments
Exhibit 168: Unrivaled Brands Inc. - Key offerings
Exhibit 169: Unrivaled Brands Inc. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 170: Inclusions checklist
Exhibit 171: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 172: Currency conversion rates for US$
13.4 Research methodology
Exhibit 173: Research methodology
Exhibit 174: Validation techniques employed for market sizing
Exhibit 175: Information sources
13.5 List of abbreviations
Exhibit 176: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
This release should be read with the Company's Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.tasekomines.com and filed on www.sedarplus.com. Except where otherwise noted, all currency amounts are stated in...
Viatris Inc. , a global healthcare company, recently launched Unmind as part of its global wellbeing program, Elevate. Unmind is a leading provider of workplace mental health solutions designed by psychologists to help individuals understand and be...
Acadia Realty Trust ("Acadia" or the "Company") today announced that its Board of Trustees has declared a cash dividend of $0.18 per common share for the quarter ended June 30, 2024. The quarterly dividend is payable on July 15, 2024 to holders of...
Toromont Industries Ltd. today reported its financial results for the first quarter ended March 31, 2024.
Three months ended March 31
($ millions, except per share amounts)
2024
2023
% change
Revenue
$
1,016.3
$
1,046.4
(3) %
Operating income
$...
The "Asia-Pacific Wearable Patches Market: Focus on Usage Type, Application, End User, and Country - Analysis and Forecast, 2023-2031" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific wearable patches market was valued...