Pharmaceuticals

Global Cannabis Products Market Outlook, Opportunities And Strategies

December 2, 2021 by The Business Research Company

Learn about the global cannabis products market through The Business Research Company, which provides information on cannabis products market size, cannabis products market drivers and restraints, cannabis products market players, the COVID-19 impact on the cannabis products market, and more.

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The global cannabis products market is expected to grow from $16.51 billion in 2020 to $18.37 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cannabis products market is expected to reach $46.19 billion in 2025 at a CAGR of 25.9%.

The growing applications of cannabis in the medical field is expected to drive innovation in cannabis products manufacturing, thus driving the market during the forecast period.

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The cannabis product market consists of sales of cannabis products and related services. Cannabis is a psychoactive drug which is obtained from the cannabis plant of the cannabaceae family. Cannabis can be used for the treatment of various diseases such as chronic pain, cancer pain, depression, anxiety disorders, sleep disturbances and neurological disorders.

Global cannabis market segments include:

By Product Type: Flower, Concentrates, Others

By Usage: Medical, Recreational

By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD

By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Solar cannabis cultivation is an emerging trend in the cannabis products market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis products manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalizing cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation.

TBRC’s cannabis products market report covers:

Major Market Players: Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Cara Therapeutics and GW Pharmaceuticals PLC.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Cannabis Products Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides cannabis products market overviews, analyzes and forecasts market size, share, cannabis products market players, cannabis products market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s cannabis products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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