$39.4 Billion Cannabis Market - Global Forecast to 2023: Product Development Via Research and Novel Product Delivery Solutions
DUBLIN, Dec 3, 2018 /PRNewswire/ --
The "Cannabis Market by Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC & CBD), Application (Medical and Recreational), and Region (North America, South America, Europe, and Row) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The cannabis market size is expected to grow from USD 10.3 billion in 2018 to USD 39.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period.
The cannabis market is driven by various factors such as the growing medicinal application of cannabis and the increasing legalization of cannabis. However, a complex regulatory structure for the use of cannabis can hinder the growth of the market.
Cannabis is a drug derived from the cannabis sativa, cannabis indica, and hybrid strains. Although cannabis is composed of different cannabinoids, the two main cannabinoids that are considered to be the most active compounds are tetrahydrocannabinol (THC), the psychoactive compound, and cannabidiol (CBD), the non-psychoactive compound. The market definition for cannabis, in this study, takes into consideration both medical as well as recreational cannabis.
The complex regulatory structure for the usage of cannabis is restraining the market growth. In this report, the cannabis market has been studied on the basis of product type, application, compound, and region. The North American market accounted for the largest share in 2017. The market in this region is primarily driven by growth in the US and Canadian markets.
The market in this region is driven by the increasing legalization of cannabis for both medical and recreational purposes all over North America and the increasing awareness among consumers regarding the health benefits of cannabis. The market is further fueled by the presence of major cannabis giants such as Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc. who are continuously investing and collaborating for the development of new products to fulfill the consumer demand.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Regions Covered
1.5 Periodization Considered
1.6 Currency Considered
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions for the Study
2.5 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Cannabis Market
4.2 Cannabis Market: Major Countries
4.3 Cannabis Market in North America, By Product Type & Country
4.4 Cannabis Market, By Application & Region
4.5 Cannabis Market, By Compound & Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Medicinal Application of Cannabis
5.2.1.2 Increasing Legalization of Cannabis
5.2.2 Restraints
5.2.2.1 Complex Regulatory Structure for the Usage of Cannabis
5.2.3 Opportunities
5.2.3.1 Product Development Via Research and Novel Product Delivery Solutions
5.2.4 Challenges
5.2.4.1 Declining Prices as Product Gets Commoditized
5.3 Value Chain: Cannabis Market
5.4 Global Regulatory Overview
5.5 Regulatory Overview, By Country
5.5.1 Us
5.5.1.1 Nevada
5.5.1.2 Colorado
5.5.1.3 Maine
5.5.1.4 California
5.5.1.5 Massachusetts
5.5.1.6 Alaska
5.5.1.7 Oregon
5.5.1.8 Washington
5.5.1.9 Washington DC
5.5.1.10 Vermont
5.5.2 Canada
5.5.3 Germany
5.5.4 Italy
5.5.5 Denmark
5.5.6 Czech Republic
5.5.7 Chile
5.5.8 Netherlands
5.5.9 Colombia
5.5.10 Uruguay
5.5.11 Australia
5.5.12 Israel
6 Cannabis Market, By Product Type
6.1 Introduction
6.2 Flower
6.2.1 Increasing Usage of Cannabis for Recreational Purposes is Expected to Fuel the Market Growth for These Products
6.3 Concentrates
6.3.1 A Wide Variety of Delivery Methods Have Made the Market for Cannabis Concentrates Extremely Favorable Amongst Consumers
6.4 Others
6.4.1 Large Number of Food & Beverage Manufacturing Companies Venturing Into the Cannabis-Infused Edibles Category Expected to Drive the Market Growth
7 Cannabis Market, By Application
7.1 Introduction
7.2 Medical
7.2.1 Increasing Usage of Cannabis for Pain, Neurological Health, and Mental Health Management is Driving the Market for Medical Cannabis
7.2.1.1 Pain Management
7.2.1.2 Neurological Health Management
7.2.1.3 Mental Health Management
7.2.1.4 Others
7.3 Recreational
7.3.1 Wider Legalization Status of Recreational Cannabis to Significantly Boost Market Growth
8 Cannabis Market, By Compound
8.1 Introduction
8.2 Tetrahydrocannabinol (THC)-Dominant
8.2.1 Increasing Legalization of Recreational Cannabis Could Help Propel the Market for THC-Dominant Cannabis Strains
8.3 Cannabidiol (CBD)-Dominant
8.3.1 Usage of Cannabidiol for Medicinal Applications is Driving the Market for CBD-Dominant Cannabis Products
8.4 Balanced THC & CBD
8.4.1 Balanced THC & CBD Strains Producing Effects, Which Help Diminish the Psychoactive Properties of THC, are Expected to Drive the Market Growth
9 Cannabis Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.1.1 Growing Legalization of Both Medical and Recreational Cannabis in Several States to Drive the Market in the Us
9.2.2 Canada
9.2.2.1 Legalization of Recreational Cannabis to Drive the Market in Canada
9.2.3 Mexico
9.2.3.1 Legalization of Medical Cannabis to Drive the Mexican Market
9.3 South America
9.3.1 Chile
9.3.1.1 Increasing Awareness Among Consumers About the Benefits of Medical Cannabis in the Treatment of Chronic Pain, Seizures, and Nausea is Driving the Market in Chile
9.3.2 Colombia
9.3.2.1 A High Percentage of Population Suffering From Chronic Diseases is Driving the Colombian Cannabis Market
9.3.3 Uruguay
9.3.3.1 The Fully Legalized Cannabis Industry With Eased Regulations is Driving the Market in Uruguay
9.3.4 Rest of South America
9.3.4.1 Legalization of Medical Cannabis is the Major Driver for the Market in the Rest of South America
9.4 Europe
9.4.1 Germany
9.4.1.1 Complete Health Insurance Coverage for the Use of Medical Cannabis is Driving the German Market
9.4.2 Italy
9.4.2.1 Increase in Demand for Cannabis Coupled With the Issuance of Import Licenses to Drive Growth in the Italian Cannabis Market
9.4.3 France
9.4.3.1 The Healthcare System in France is Driving the Market Growth
9.4.4 The Netherlands
9.4.4.1 Strong Supporting Infrastructure of Pharmacies is Driving the Market in the Netherlands
9.4.5 Rest of Europe
9.4.5.1 Legalization of Medical Cannabis is the Major Driver for the Market in the Rest of Europe
9.5 Rest of the World (RoW)
9.5.1 Israel
9.5.1.1 Agricultural & Technical Innovations Coupled With Liberal Government Policies to Drive the Market in Israel
9.5.2 Australia
9.5.2.1 Improved Access to Medical Cannabis is Projected to Drive the Market in Australia
10 Competitive Landscape
10.1 Overview
10.2 Key Market Strategies
10.3 Ranking of Key Players, 2018
10.4 Investment Overview
10.5 Competitive Scenario
11 Company Profiles
11.1 Canopy Growth Corporation
11.2 Aurora Cannabis Inc.
11.3 Medmen
11.4 Terra Tech Corp.
11.5 Aphria Inc.
11.6 Vivo Cannabis Inc.
11.7 Chronos Group Inc.
11.8 Medical Marijuana, Inc.
11.9 Stenocare
11.10 Tikun Olam
11.11 Organigrams Holding Inc.
11.12 Cannabis Science Inc.
11.13 Maricann Group Inc.
11.14 Tilray Inc
11.15 Hexo
For more information about this report visit https://www.researchandmarkets.com/research/zj6qdj/39_4_billion?w=5
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