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The global cannabis market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 Mn in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027.
The key factors such as increasing number of countries decriminalizing the use of cannabis and legalizing the cannabis for medical use, increasing awareness of benefits offered by cannabis through conduction of workshops and symposiums and increasing technological development in the field of medical cannabis is expected to account for the growth of the global cannabis market.
In recent years the whole, unprocessed marijuana plant or its basic extracts are used to treat symptoms of illness and other medical conditions. The US FDA has not approved marijuana plant as medicine but certain chemicals from the plant called cannabinoids, are FDA-approved medications which are in the form of pill. As cannabis helps in treating certain illnesses and symptoms many regions/countries have legalized marijuana for medical use.
Currently the two cannabinoids from the marijuana plant that are of medical interest are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC may also decrease pain, inflammation (swelling and redness), and muscle control problems. CBD is used to reduce pain, inflammation, control epileptic seizures, and to treat mental illness and addictions.
The FDA approved a CBD-based liquid medication called Epidiolex for the treatment of two forms of severe childhood epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. A few studies have reported that inhaled (smoked or vaporized) marijuana can be helpful treatment of neuropathic pain (pain caused by damaged nerves). Thus growing medicinal applications of cannabis in diseases like HIV, epilepsy and others is expected to drive cannabis market during the forecast period.
The global cannabis market, based on the application was segmented into medical and recreational uses. In 2018, the medical segment held the largest share of the market, by application. However, the recreational segmented is anticipated to witness fastest growth in the cannabis market, based on application.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Global Cannabis Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Cannabis- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. Global Cannabis Market – Key Industry Dynamics
5.1.1 Legalization of Medical Cannabis
5.1.2 Growing Medicinal Application of Cannabis
5.1.3 Increasing Awareness of Medical Cannabis Through Conferences, Symposia, and Workshops
5.2 Key Market Restraints
5.2.1 Stringent Regulatory Framework for Cannabis
5.3 Key Market Opportunities
5.3.1 Mergers & Acquisitions
5.4 Future Trends
5.4.1 Growing Acceptance of Cannabis Products
5.5 Impact analysis
6. Cannabis Market – Global Analysis
6.1 Global Cannabis Market Revenue Forecasts And Analysis
6.2 Global Cannabis Market, By Geography – Forecasts And Analysis
6.3 Market Positioning of Key Players
7. Cannabis Market Analysis And Forecasts To 2027 – Product Type
7.1 Overview
7.2 Global Cannabis Market Share by Product Type 2018 & 2027 (%)
7.3 Flowers Market
7.4 Concentrates Market
7.5 Others Market
8. Cannabis Market Analysis And Forecasts To 2027 – Application
8.1 Overview
8.2 Global Cannabis Market Share by Application 2018 & 2027 (%)
8.3 Medical Market
8.3.1 Pain Management
8.3.2 Neurological Health Management
8.3.3 Mental Health Management
8.3.4 Others
8.4 Recreational Market
9. Cannabis Market Analysis And Forecasts To 2027 – Compound
9.1 Overview
9.2 Global Cannabis Market Share by Compound 2018 & 2027 (%)
9.3 Tetrahydrocannabinol (THC)-Dominant Market
9.4 Cannabidiol (CBD)-Dominant Market
9.5 Balanced THC and CBD Market
10. Cannabis Market Revenue and Forecasts to 2027 – Geographical Analysis
11. Asia-Pacific Cannabis Market Revenue and Forecasts to 2027
12. Middle East & Africa Cannabis Market Revenue and Forecasts to 2027
13. South & Central America Cannabis Market Revenue and Forecasts to 2027
14. Cannabis Market – Industry Landscape
14.1 Overview
14.2 Growth Strategies done by the companies in the Market, (%)
14.3 Organic Developments
14.4 Inorganic developments
15. Cannabis Market-Key Company Profiles
- Aphria Inc.
- Aurora Cannabis
- Cannabis Science Inc.
- Canopy Growth Corporation
- Medical Marijuana Inc.
- VIVO Cannabis Inc.
- Tikun Olam Ltd
- Terra Tech Corp.
- Tilray
- Cronos Group
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