Cannabis Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cannabis Market is segmented by Product type (Capsules, Concentrates, Edibles and Other), Usage (Medical and Recreational), Compound Type (Tetrahydrocannabinol (THC), Cannabidiol (CBD), Balanced THC & CBD ), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa).

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

North America

Largest Market:

North America

CAGR:

14.5 %

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Market Overview

  • The Cannabis Market market is projected to grow at a CAGR of 14.5% during the forecast period (2020-2025).
  • The drivers identified in the market are the medicinal properties of cannabis, increasing the legalization of cannabis, and increasing advances in genetic development and intellectual property of cannabis. For instance, in January 2018, the Australian government allowed cannabis producers in the region to export medical cannabis and its products in the global market.
  • The restraints identified in the market are that it is still an illegal products in various countries, higher stress on water and sustainable agriculture, strict regulations against usage of cannabis, and strong competition with conventional treatment and traditional drugs.
  • Besides, several research institutes and manufacturers of medical cannabis are collaborating with each other to develop a novel vaccination for treatment and prevention of COVID-19 disease. Canada and Israel are the two major countries who are already under clinical trials for COVID-19 vaccination. This will drive the demand for cannabis for medical purposes during the forecast period.

Scope of the Report

Cannabis is a tall plant with a stiff upright stem, which is used as a drug and is being legalized for its medical usage. The report contains an analysis of the various parameters of the cannabis market. The study includes the major types of cannabis popular in the market and their market shares. The report presents wide-range analysis of the market share, size, and trends in the cannabis market. The market operates at B2C level, and market sizing has been done at the consumer level.

Product Type
Capsules
Concentrates
Edibles
Other Product
Application
Medical
Recreational
Compound Type
Tetrahydrocannabinol (THC)
Cannabidiol (CBD)
Balanced THC & CBD
Geography
North America
US
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
Australia
India
China
Japan
Rest of Asia-Pacific
South America
Argentina
Brazil
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Legalization of Cannabis is Driving the Market

Medicinal cannabis accounts for the majority share of the cannabis market. Many countries have legalized the usage of cannabis for medicinal purposes such as Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, and Uruguay among others. The provinces in the United States, where cannabis has been legalized majorly, comprise the adult population, aged 50 years and above. Owing to the higher risk of chronic diseases post 50 years of age, this demographic profile is expected to boost the demand for cannabis in the country. The 12th graders in the United States have increased marijuana use which increased from 11.9% in 2017 to 27.9% in 2020 in the form vaping. According to the US Government Accountability Office, under State Medical Marijuana Laws, symptoms and conditions that can be treated by cannabis include Alzheimer’s disease, anorexia, HIV-AIDS, glaucoma, cancer, arthritis, epilepsy, nausea, pain, cachexia, Crohn's disease, migraines, multiple sclerosis, spasticity, and wasting syndrome. Continuous research and standardization of products for medicinal purposes are expected to increase the popularity, as well as demand for cannabis in the future.

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North America Dominates the Market

The North America cannabis industry is set to become the major producer of cannabis after the legalization of cannabis in Canada. In October 2018, Canada legalized the use of marijuana for recreational purposes nationwide. In the United States, ten states have legalized cannabis for recreational use and on other hands, 33 states and the District of Columbia have legalized cannabis for medical purposes. Among these states, California, Washington, and Colorado are the top-selling cannabis products. he production levels of cannabis in North America have increased rapidly over the past few years owing to the expansion of the production capacities by the major players.

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Competitive Landscape

The Global Cannabis Market is extremely fragmented market with local and regional players occupying a major share in the market. In the cannabis market, companies are very active and are constantly involved in acquiring shares and developing new products to attract a larger portion of consumers toward their products. Companies in the United States and Canada are focusing more on acquiring licenses for the production and trade of cannabis-based products. They are also involved in the development of food products containing cannabis, which is the preferred mode of consumption by the consumers.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Capsules

      2. 5.1.2 Concentrates

      3. 5.1.3 Edibles

      4. 5.1.4 Other Product

    2. 5.2 Application

      1. 5.2.1 Medical

      2. 5.2.2 Recreational

    3. 5.3 Compound Type

      1. 5.3.1 Tetrahydrocannabinol (THC)

      2. 5.3.2 Cannabidiol (CBD)

      3. 5.3.3 Balanced THC & CBD

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 US

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 Australia

        2. 5.4.3.2 India

        3. 5.4.3.3 China

        4. 5.4.3.4 Japan

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Argentina

        2. 5.4.4.2 Brazil

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Canopy Growth Corp.

      2. 6.3.2 GW Pharmaceuticals PLC

      3. 6.3.3 Aurora Cannabis Inc.

      4. 6.3.4 Aphria Inc.

      5. 6.3.5 Green Relief Inc.

      6. 6.3.6 MedReLeaf Corp.

      7. 6.3.7 Sprott Inc.

      8. 6.3.8 Insys Therapeutics Inc.

      9. 6.3.9 Emerald Health Therapeutics

      10. 6.3.10 Cannabis Sativa, Inc.

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 8. IMPACT OF COVID-19 ON THE MARKET

** Subject to Availability

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