Cannabis Market

Global Cannabis Market: Overview

Increasing incidence of legalization of recreational as well as medical cannabis products has been supporting the expansion of the global cannabis market. This trend is further bolstered by the rising number of states in the United States legalizing the cannabis products for recreational use. Players in the global cannabis market offer various types of products, including concentrates, topicals and tinctures, flowers, and edibles, among others. By compound, the global cannabis market can be divided into balanced THC and CBD products, tetrahydrocannabinol or THC dominant products, and cannabidiol or CBD dominant products.

The professional survey report evaluates the constantly changing landscape of the global cannabis market. It examines key trends and new developments that can positively influence the growth trajectory of the global cannabis market during the forecast period of 2021 to 2031. It also covers key segments in the industry and provides a detailed segmental analysis of the global cannabis market. The research report sheds light on various interconnected factors that can propel substantial growth in the global cannabis market over the forecast period i.e., 2021 to 2031. It examines key drivers as well as motivators that can provide players and stakeholders in the market with opportunities for growth and expansion in the global cannabis market.

Global Cannabis Market: Major Trends and Drivers

The increasing applications of cannabis in medicines, growing societal acceptance for consuming cannabidiols, and introduction of new cannabis processing technologies are aiding in the development of the global cannabis market. Furthermore, rising instances of research and development to facilitate technological innovations are also helping in market growth. Rising integration of genetic engineering and artificial intelligence technologies are boosting the production within the global cannabis market. By using these modern technologies, cannabis growers can change the plant’s genetic makeup to produce innovative strains. Utilization of AI can also help in timely delivery and efficient production of marijuana crops.

However, health problems created by prolonged exposure to cannabis or overdose of cannabis may restrain the growth of the global cannabis market. The risk of short term side effects, such as panic attacks or anxiety attacks, and long term side effects, such as menta; health problems and heart arrhythmia, may also slow down the adoption of these products. On the other hand, increasing instances of players introducing edible cannabis products may positively influence the growth within the global cannabis market in coming years. Furthermore, increasing popularity of vaping products is also positively affecting the demand within the market.

Global Cannabis Market: Key Players and Manufacturers

Some of the key manufacturers and players operating in the landscape of the global cannabis market include Aurora Cannabis Inc., Tilary Inc., VIVO Cannabis Inc., Medical Marijuana Inc., Trulieve, Cresco Labs, Indiva, Ecofibre Limited, Harvest Health and Recreation, TerrAscend, Canopy Growth Corporation, Medmen Enterprise Inc., Unrivaled Brand Inc., The Cronos Group, Stenocare, Organigrams Holding Inc., Maricann Group Inc., Hexo Corp., Curaleaf Holdings Inc., and Green Thumb Industries, among others. Players in the global cannabis market are focused on product innovation as key strategy to gain an edge over their competitors. Furthermore, some other notable growth strategies employed by these players include collaborations, acquisitions, and research and development. Several players are also expanding their industry reach by capturing new regional markets.

Global Cannabis Market: Regional Assessment

Increase in the instances of marijuana legalization for both recreational as well as medical purposes in the United States is the most prominent drivers for the growth and development of the North America cannabis market. Furthermore, expansion of this regional market is also supported by the rising level of awareness among regional customers regarding health and medicinal benefits of cannabis products. Additionally, the presence of key cannabis producers, including Aurora Cannabis and Canopy Growth Corporation in the region is also fostering the growth within the North America cannabis market.