The report is titled ‘Cannabis Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the cannabis market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The cannabis market is expected to grow at a significant rate in the near future.
The global cannabis market was valued US$ 18.1 Bn at the end of 2020 and is expected to reach at a value of US$ 127.3 Bn by 2028 with a significant CAGR of 27.6%.
Request a Free Sample Report: https://reportsandinsights.com/sample-request/8265
Cannabis Market Definition
Cannabis sativa L. (Cannabaceae) is one of the earliest medicinal plants utilized by humans. Basically, Cannabis is the preferable identification name of the plant Cannabis indica, Cannabis sativa, and of minor significance, Cannabis ruderalis. For thousands of years, the plant has served its utility for mankind for oil and fiber production, and simply as a supplement for different food items.
Cannabis is the world’s most ordinarily cultivated, smuggled, and used as an unauthorized and illegal drug, and in addition to that, as the encouragement for legalization of cultivation of cannabis at home and abroad is surging, cannabis or marijuana is gaining significant attention from manufacturers, investors, and researchers across the world.
Moreover, cannabis is considered to contain a variety of medicinally essential compounds such as, terpenoids, cannabinoids, alkaloids, flavonoids, and others, which further escalates its applications in medicinal uses in the healthcare sector. Cannabis, which was once considered an unauthorized and illegal substance is believed a restricted and governed drug within several government guidelines in present times. Although the infamy is being cast off at a rapid pace, and it appears cannabis or marijuana is swiftly on its way to be accepted as mainstream.
View Top Players, Segmentation and other Statistics at: https://reportsandinsights.com/report/cannabis-market
Cannabis Market Dynamics
The fact that the world has witnessed significant steps taken and great progress made in the legalization of cannabis that resulted in the emergence and growth of a new industry. Also, is it one of the most commonly cultivated and used unlawful and prohibited drugs, the world is now getting acquainted with its various beneficial attributes, which has favorably compelled regulatory bodies to legalize the cultivation and use of cannabis across the world. Owing to this, the global cannabis market is projected to grow briskly in the near future.
With the same token, cannabis or marijuana is gaining enormous momentum in the global markets, in the present times, owing to its therapeutic applications as well as medicinal benefits, which in turn is further expected to positively fuel the growth of the global cannabis market in the forthcoming years.
Cannabis is said to be helpful in losing body weight, improving lung capacity, preventing and regulating diabetes as well as seizures, treating glaucoma, fighting diseases like anxiety and depression, and more importantly, it has the potential to fight cancer. Attributing all such beneficial factors, cannabis is anticipated to gain massive traction in the years to come, therefore the global cannabis market is projected to observe major breakthroughs over the forecast period.
However, the rigid and monitoring regulatory structure for the use of cannabis/marijuana across the world is still a restraining factor for the future growth of the global cannabis market. By the same token, along with the stringent regulations, free public trade and consumption is also not allowed and legal, across various parts of the world, which is also likely to hold back the growth of the global cannabis market to the bounds over the coming years.
Nevertheless, the rapid advancements in the cannabis industry have led many major players of the market to focus on R&D and novel product development, which is further expected to accelerate the growth of the global cannabis market in the upcoming future.
Talk to Industry Expert Before Buying the Report: https://reportsandinsights.com/talk-to-consultant/8265
Cannabis Market Segmentation
The global cannabis market is segmented on the basis of type, application, compound and region. On the basis of type, the cannabis market is segmented into Flower, Concentrates, and Others (capsules, topicals, edibles, and beverages). On the basis of application, the market is categorized into Medical and Recreational. Furthermore, the cannabis market is segmented on the basis of the compound into THC-dominant, CBD-dominant, and Balanced THC & CBD.
The research report classifies the global cannabis market based on type, application, compound and region.
Others (capsules, topicals, edibles, and beverages)
Balanced THC & CBD
Cannabis Market Key Players
The key participating players in global cannabis market are Canopy Growth Corporation, Aurora Cannabis Inc., MedMen, Terra Tech Corp., Aphria Inc., VIVO Cannabis Inc., The Cronos Group, Medical Marijuana Inc., STENOCARE, Tikun Olam, Organigram Holdings Inc., Cresco Labs, Indiva, Curaleaf Holding Inc., HEXO Corp., Ecofibre Limited, Harvest Health & Recreation, Green Thumb Industries, Maricann Group Inc., and TerrAscend.
Ask For Customization: https://reportsandinsights.com/free-customization/8265
About Reports and Insights:
Reports and Insights is one of the leading market research companies which offers syndicate and consulting research around the globe. At Reports and Insights, we adhere to the client’s needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with a strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.
1820 Avenue M, Brooklyn
NY 11230, United States
Mail Us at: email@example.com