The 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.
60 - Figures
224 - Pages
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.
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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.
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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