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The Worldwide Cannabis Industry is Projected to Reach $90.4 Billion by 2026

Research and Markets
·6-min read

Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The "Global Cannabis Market by Application (Medical, Recreational), Product Type (Flowers, Concentrates), Compound (THC-dominant, CBD-dominant, Balanced THC & CBD), and Region (North America, South America, Europe, RoW) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global cannabis market is estimated to be valued at USD 20.5 billion in 2020 and is projected to reach USD 90.4 billion by 2026, recording a CAGR of 28%, in terms of value.

The market is primarily driven by factors such as growing medical applications of cannabis and increasing legalization of cannabis and rise in social acceptance of marijuana. North America accounted for the largest market share in the cannabis market owing to the increasing legalization of cannabis for both medical and recreational purposes across the region. However, one of the restraining factors in the growth of cannabis market is complex regulatory structure to produce and use cannabis.

By application, the recreational segment is projected to grow at the highest CAGR during the forecast period

Based on application, the recreational segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing as it is highly demanded and consumed by the consumers. Also, high demand for recreational cannabis can translate into larger market if it gets legalized across various regions.

By compound, the THC-dominant segment is estimated to account for the largest share

The THC-dominant segment of the cannabis is dominating the market. The dominance of this segment is majorly attributed to the fact that THC is the psychoactive substance in cannabis products that is responsible for the high. It also provides important medical benefits and is effective in relieving nausea, appetite loss, and insomnia.

The Europe region is projected to grow at the highest CAGR during the forecast period

Europe is projected to be the fastest-growing market for the period considered for this study, due to the increasing legalization of medical cannabis in the region. Also, the healthcare system present in several European countries covers the health expenditure of most patients in this region, further contributing to the growth of cannabis market.

The cannabis market is segmented region-wise, with a detailed analysis of each region. These regions include North America, South America, Europe, and RoW (Israel and Australia).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Cannabis Market
4.2 Cannabis Market: Major Regional Submarkets
4.3 Europe: Cannabis Market, by Key Product Type & Country
4.4 Cannabis Market, by Application
4.5 Cannabis Market, by Compound
4.6 Cannabis Market, by Product Type & Region
4.7 Cannabis Market COVID-19 Impact, by Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the Medical Applications of Cannabis
5.2.1.2 Increase in Legalization of Cannabis and Rise in Social Acceptance of Marijuana
5.2.1.3 Increase in R&D and Technological Innovation
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
5.2.3.2 Emergence of Cannabis Legalization in Asia-Pacific
5.2.4 Challenges
5.2.4.1 Intensive Energy Consumption and Maintaining Product Consistency for the Cultivation of Cannabis
5.2.4.2 Myths Associated with Cannabis
5.2.4.3 Declining Prices as Products Get Commoditized
5.3 COVID-19 Impact on the Cannabis Market
5.4 Patent Analysis
5.5 Value Chain
5.6 Market Map for Cannabis
5.7 Key Markets for Import/Export
5.7.1 Tetrahydrocannabinols
5.8 Porter's Five Forces Analysis
5.9 YC-YCC Shift

6 Cannabis Market, by Application
6.1 Introduction
6.1.1 COVID-19 Impact on the Cannabis Market, by Application
6.1.1.1 Optimistic Scenario
6.1.1.2 Realistic Scenario
6.1.1.3 Pessimistic Scenario
6.2 Medical
6.2.1 Increase in Cannabis Use Treatment of Various Ailments Drives the Demand for Medical Cannabis
6.2.1.1 Pain Management
6.2.1.2 Neurological Health Management
6.2.1.3 Mental Health Management
6.2.1.4 Other Medical Applications
6.3 Recreational
6.3.1 Wider Legalization Status of Recreational Cannabis to Boost Market Growth

7 Cannabis Market, by Product Type
7.1 Introduction
7.1.1 COVID-19 Impact on the Cannabis Market, by Product Type
7.1.1.1 Optimistic Scenario
7.1.1.2 Realistic Scenario
7.1.1.3 Pessimistic Scenario
7.2 Flowers
7.2.1 Wider Availability and Versatility of Flower Products Drive the Market for These Products
7.3 Concentrates
7.3.1 Various Delivery Methods Have Made the Market for Cannabis Concentrates Extremely Consumer-Friendly
7.4 Other Product Types
7.4.1 Large Number of Food & Beverage Manufacturing Companies Venture into Cannabis-Infused Edibles

8 Cannabis Market, by Compound
8.1 Introduction
8.1.1 COVID-19 Impact on the Cannabis Market, by Compound
8.1.1.1 Optimistic Scenario
8.1.1.2 Realistic Scenario
8.1.1.3 Pessimistic Scenario
8.2 Tetrahydrocannabinol (THC)-dominant
8.2.1 Increasing Legalization of Recreational Cannabis Could Help Propel the Market for THC-dominant Cannabis
8.3 Cannabidiol (CBD)-dominant
8.3.1 Usage of Cannabidiol for Medicinal Applications Drives the Market for CBD-dominant Cannabis Products
8.4 Balanced THC & CBD
8.4.1 The Market for Balanced THC & CBD Strains Witnesses Growth as CBD Diminishes the Psychoactive Properties of THC

9 Cannabis Market, by Region
9.1 Introduction
9.2 Global Regulatory Overview
9.3 North America
9.4 Europe
9.5 South America
9.6 RoW

10 Competitive Landscape
10.1 Overview
10.2 Market Evaluation Framework
10.3 Market Share Analysis, 2019
10.4 Company Evaluation Quadrant (Key Players)
10.4.1 Stars
10.4.2 Emerging Leaders
10.4.3 Pervasive Players
10.4.4 Emerging Companies
10.4.5 Product Footprints
10.5 Company Evaluation Quadrant (Other Players)
10.5.1 Progressive Companies
10.5.2 Starting Blocks
10.5.3 Responsive Companies
10.5.4 Dynamic Companies
10.6 COVID-19-Specific Company Response
10.7 Competitive Scenario
10.7.1 Expansions & Investments
10.7.2 New Product Launches
10.7.3 Agreements, Collaborations, Joint Ventures, and Partnerships
10.7.4 Mergers & Acquisitions

11 Company Profiles
11.1 Key Players
11.1.1 Canopy Growth Corporation
11.1.2 Aurora Cannabis Inc.
11.1.3 Medmen
11.1.4 Terra Tech Corp.
11.1.5 Aphria Inc.
11.1.6 Vivo Cannabis Inc.
11.1.7 The Cronos Group
11.1.8 Medical Marijuana Inc.
11.1.9 Stenocare
11.1.10 Tikun Olam
11.2 Other Players
11.2.1 Organigrams Holding Inc.
11.2.2 Cresco Labs
11.2.3 Indiva Limited
11.2.4 Curaleah Holdings Inc.
11.2.5 Hexo Corp.
11.2.6 Ecofibre Limited
11.2.7 Harvest Health and Recreation
11.2.8 Green Thumb Industries
11.2.9 Maricann Group Inc.
11.2.10 Terrascend

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: The Subscription Portal
12.3 Available Customizations

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