Cannabis Market Growth, Opportunities and Forecast 2026
by Mit K. SEOThe report "Cannabis Market by Application (Medical and Recreational), Product Type
(Flowers and Concentrates), Compound (THC-dominant, CBD-dominant, and Balanced
THC & CBD), and Region (North America, South America, Europe, and RoW) -
Global Forecast to 2026" According to MarketsandMarkets, the global cannabis market size
is estimated to be valued at USD 20.5 billion in 2020. It is projected to reach
USD 90.4 billion by 2026, recording a CAGR of 28.0%, in terms of value. The
growing medical applications of cannabis is driving the demand for cannabis.
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The flower segment accounted for the largest share
in the cannabis market
Based on product type, flower segment dominated
the cannabis market. Flower have a wider availability. Also, its method
delivery as smoking or vaping the cannabis flower has a quicker effect and is
preferred for fast-acting relief.
The medical segment accounts for the second
largest market share in the cannabis market
Based on application, medical is the second-largest
segment in the overall cannabis market. The growth of this segment is majorly
attributed to the increasing legalization of medical cannabis across various
regions. Also, the consumers are becoming more aware about the medicinal
benefits of cannabis.
The CBD-dominant segment is projected to account
for the second-largest share in the cannabis market during the forecast period
By compound, the cannabis market is segmented into
THC-dominant, CBD-dominant, and Balanced THC & CBD. CBD-dominant segment accounted
for the second-largest market share in the overall cannabis market. It is
considered one of the most therapeutic and healing part of the plant. Also,
CBD-dominant strains are preferred by consumers suffering from chronic pain,
inflammation, anxiety, and other chronic disorders.
The Europe region is the fastest-growing region in
the cannabis market in the forecast period
Europe will be the fastest-growing region in the
global cannabis market in the forecast period. The cannabis market in Europe is
majorly driven by the increasing legalization of medical cannabis in the region
coupled with healthcare system present in several Euroepan countries. Along
with this, the demand for medical cannabis is rising in the region, further
fueling the growth of European cannabis market.
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This report includes a study on the marketing and
development strategies, along with the product portfolios of leading companies.
It consists of profiles of leading companies, such as 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), and TerrAscend (Canada).
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Created on Apr 26th 2021 07:49. Viewed 488 times.