Cannabis Market - Forecasts from 2019 to 2024
The Cannabis market is projected to grow at a CAGR of XX.XX% to reach US$XX.XXX billion by 2024, from US$XX.XXX billion in 2018. Cannabis which is often called marijuana is a psychoactive drug from the cannabis plant that is generally used for medical and recreational purposes. Increasing legalization and growing medical application of cannabis are expected to be the key driver for the growth of the market during the forecast period. Currently, the majority of the cannabis is sold through illegal channels, but as countries begin to liberalize laws related to it the market is expected to witness a surge in demand in the coming years. The North America cannabis market is expected to hold the significant market share in 2018 owing to increasing legalization of cannabis for both medical and recreational purposes in the region. However, the stringent and complex regulatory framework on the use of cannabis may hinder the market growth opportunities in the coming years.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottoms-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the cannabis value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Cannabis market.
Major industry players profiled as part of the report are Aurora Cannabis Inc., Canopy Growth Corp, Aphria Inc, GW Pharmaceuticals PLC, MedReLeaf Corp and CanniMed Therapeutics Inc among others.
The Cannabis market has been analyzed through following segments:
By Crop type
Middle East and Africa
Key insights offered
What will be the Cannabis market size from 2018 to 2024?
How are the major drivers and restraints affecting the Cannabis market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behaviour
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.
Aurora Cannabis Inc.
Canopy Growth Corp
GW Pharmaceuticals PLC
Vivo Cannabis Inc