Cannabis Products Global Market estimated to grow at 23% rate
LONDON - As per The Business Research Company's "Cannabis Products Global Market Report 2022”, the cannabis products market is expected to grow from $28.0 billion in 2021 to $35.0 billion in 2022 at a compound annual growth rate (CAGR) of 25.0%.
The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The cannabis products market is expected to reach $80.0 billion in 2026 at a CAGR of 23.0%. The growing applications of cannabis in the medical field is an important driver for the cannabis products market.
Key Trends In The Cannabis Products Market
Solar cannabis cultivation is an emerging trend in the cannabis products market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis products manufacturing companies are investing in solar cannabis cultivation.
Overview Of The Cannabis Products Market
The cannabis products market consists of sales of cannabis products and related services. Cannabis is a psychoactive drug which is obtained from the cannabis plant of the cannabaceae family. Cannabis can be used for the treatment of various diseases such as chronic pain, cancer pain, depression, anxiety disorders, sleep disturbances and neurological disorders.
Cannabis Products Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
• By Product Type: Flower, Concentrates, Others
• By Usage: Medical, Recreational
• By Compound: THC-Dominant, CBD-Dominant, Balanced THC and CBD
• By Route of Administration: Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, Others
• By Geography: The global cannabis products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Canopy Growth Corporation, Aphria Inc, Aurora Cannabis, Cara Therapeutics, GW Pharmaceuticals PLC, Maricann Group, Tilray, The Cronos Group, Tikun Olam and United Cannabis Corporation.
Trends, opportunities, strategies and so much more.
Cannabis Products Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of cannabis products global market.
The market report gives cannabis products global market analysis, cannabis products global market forecast market size, cannabis products market growth drivers, cannabis products market share, cannabis products global market segments, cannabis products global market major players, cannabis products global market growth across geographies, cannabis products global market trends and cannabis products global market competitors’ revenues and market positioning.
The cannabis products global market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
