Cannabis Market Insights and Growth by 2031
The global cannabis market is expected to grow from US$ 33,692.3 million in 2022 to US$ 1,99,504.9 million by 2031; it is estimated to grow at a CAGR of 34.5% from 2022 to 2031.
Rising research & development activities for medical cannabis acts as a standalone factor driving the overall market. The emerging government policy and regulatory relaxation is expected to provide a lucrative growth opportunity for the overall market.
Rising research & development activities for medical cannabis acts as a standalone factor responsible for driving influential growth of overall market. According to the NORML and The NORML Foundation 2022 report, clinical research intended for the therapeutic value of cannabis has proliferated the understanding that medical cannabis can combat disease. For example, scientists are investigating by researching to detect cannabis's capacity to identify moderate autoimmune disorders such as multiple sclerosis, rheumatoid arthritis, and inflammatory bowel disease. Additionally, scientists are researching to identify the role of medical cannabis consumption in treating neurological disorders such as Alzheimer's disease and amyotrophic lateral sclerosis, i.e., Lou Gehrig’s disease). Further, researchers are also studying the anti-cancer activities of cannabis involved in reducing the spread of cancer cells. Also, various regions like Europe are encouraging the consumption of medical cannabis to advance patient access and improve the health outcomes of patients. For example, The European Medicinal Cannabis Association (EUMCA), registered under the Belgian Code des Sociétés et des Associations and registered on the European Commission Transparency Registry, operates in the research and development, production, and distribution of medical cannabis treatment across the Europe region. Such aforementioned factors are responsible for enhancing the overall consumption of medical cannabis during the analysis period of 2022-2031.
The emerging government policy and regulatory relaxation is expected to provide a lucrative growth opportunity for the overall market. Legal access to medical cannabis products is now increasing by relaxing restrictions. For example, in 2016, the Australian Federal Government legalized access to medical cannabis. Also, more than 100 different cannabis products are now available in Australia to prescribe, the majority involving oral preparations (oils) or capsules containing delta-9-tetrahydrocannabinol or cannabidiol. The majority of the prescriptions are intended for chronic, non-cancer pain, anxiety, cancer-related symptoms, epilepsy, and other neurological disorders. Further, the legalization of cannabis policy provides lucrative opportunities involving therapeutic benefits. For example, in the US, Washington State earmarked cannabis tax revenue to fund a continuous cannabis research program. Additionally, other states, such as New York, reviewed the potential impacts of regulating a recreational cannabis supply chain and health reforms. More efforts with legal access to medical cannabis will provide lucrative opportunities for overall market growth in the forthcoming years.
Regional Overview
North America accounts largest market share for cannabis market. Among North America regional market, the US accounts significant revenue for cannabis. According to the Pew Research Center 2022 published article, Americans support the legalization of cannabis intended for medicinal and recreational use. For example, the US survey conducted on October 2022 reveals that about 88% poll was for the legalization of cannabis. Additionally, the majority of Democrats across all age groups support the legalization of cannabis intended for medicinal and recreational purposes. Furthermore, Los Angeles County Economic Development Corporation 2022 report states that in 2021 sales in America increased by 67% from 2021, and support for the legalization of cannabis intended for recreational purposes hit an all-time high, accounting for 68% in the US in October 2021 with cannabis industry valuation of approx. US$61 billion. Thus, increasing legalization of cannabis intended for both medicinal and recreational purpose accelerates demand for the product among the patient base expecting to drive the overall market growth during the forecast period.
Strategic Insights
Product Type Insights
Based on product type, the cannabis market is segmented into flower, concentrates, and others. The flower segment held the largest market share in 2022. This is due to cannabis flowers being resinous whose buds can be processed into pharmaceutical-grade drugs. For example, various pharmaceutical products such as elixirs, tinctures, salves, poultices, and creams can be manufactured through cannabis flowering tops. Additionally, cannabis plants grow quickly that can be harvested by accelerating production (modified cannabis flower), particularly in a controlled agricultural environment. For example, modified cannabis flowers or buds have the most powerful medicinal properties having a positive effect on the human brain on consumption. Such medicinal properties associated with cannabis flowers have an influential segmental growth responsible for dominating the overall market growth during the forecast period.
Companies operating in the cannabis market are adopting the product innovation strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the market.
Cannabis Market – Segmentation
Based on product type, the cannabis market is segmented into flower, concentrates, and others. The flower segment held the largest market share in 2022. Based on application, the cannabis market is bifurcated into medical and recreational. The medical segment held a larger share of the market in 2022. The recreational segment will grow over the forecast period. Based on compound, the global cannabis market is segmented into Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, and balanced THC and CBD. The Tetrahydrocannabinol (THC)-Dominant segment held the largest share of the market in 2022. The Cannabidiol (CBD)-Dominant segment is expected to grow at the fastest CAGR over the forecast period. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Company Profiles
- Tilray Inc.
- Aurora Cannabis
- Cannabis Science Inc.
- Canopy Growth Corporation
- Medical Marijuana, Inc.
- Vivo Cannabis Inc.
- Tikun Olam
- Tilray Brands, Inc.
- The Cronos Group
- HEXO Corp.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, and Compound
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Cannabis Market – By Product Type
1.3.2 Global Cannabis Market – By Application
1.3.3 Global Cannabis Market – By Compound
1.3.4 Global Cannabis Market – By Geography
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
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific – PEST Analysis
4.2.4 Middle East & Africa– PEST Analysis
4.2.5 South & Central America – 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
5.3.2 Growing Demand of Cannabis During COVID 19:
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 2019 & 2027 (%)
7.3 Flowers Market
7.3.1 Overview
7.3.2 Flowers Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Concentrates Market
7.4.1 Overview
7.4.2 Concentrates Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Others Market
7.5.1 Overview
7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
8. Cannabis Market Analysis and Forecasts To 2027 – Application
8.1 Overview
8.2 Global Cannabis Market Share by Application2019 & 2027 (%)
8.3 Medical Market
8.3.1 Overview
8.3.2 Medical Market Revenue and Forecast to 2027 (US$ Mn)
8.3.3 Pain Management
8.3.3.1 Overview
8.3.3.2 Pain Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.4 Neurological Health Management
8.3.4.1 Overview
8.3.4.2 Neurological Health Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.5 Mental Health Management
8.3.5.1 Overview
8.3.5.2 Mental Health Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.6 Others
8.3.6.1 Overview
8.3.6.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Recreational Market
8.4.1 Overview
8.4.2 Recreational Market Revenue and Forecast to 2027 (US$ Mn)
9. Cannabis Market Analysis and Forecasts To 2027 – Compound
9.1 Overview
9.2 Global Cannabis Market Share by Compound2019 & 2027 (%)
9.3 Tetrahydrocannabinol (THC)-Dominant Market
9.3.1 Overview
9.3.2 Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Cannabidiol (CBD)-Dominant Market
9.4.1 Overview
9.4.2 Cannabidiol (CBD)-Dominant Market Revenue and Forecast to 2027 (US$ Mn)
9.5 Balanced THC and CBD Market
9.5.1 Overview
9.5.2 Balanced THC and CBD Market Revenue and Forecast to 2027 (US$ Mn)
10. Cannabis Market Revenue and Forecasts to 2027 – Geographical Analysis
10.1 OVERVIEW
10.2 North America Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.3 North America Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.4 North America Cannabis Market Revenue and Forecasts, ByApplication (US$ Mn)
10.4.1.1 North America Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.5 North America Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6 North America Cannabis Market Revenue and Forecasts to 2027, By Country (%)
10.7 US Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.7.1 US Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.7.2 US Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.7.3 US Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.7.3.1 US Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.7.3.2 US Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.8 Canada Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.8.1 Canada Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.8.2 Canada Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.8.3 Canada Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.8.3.1 Canada Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.8.4 Canada Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.9 Mexico Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.9.1 Mexico Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.9.2 Mexico Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.9.3 Mexico Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.9.3.1 Mexico Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.9.4 Mexico Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11. Europe cannabis market Revenue and Forecasts to 2027
11.1 Overview
11.2 Europe Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.3 Europe Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
11.4 Europe Cannabis Market Revenue and Forecasts, ByApplication (US$ Mn)
11.4.1.1 Europe Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.5 Europe Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11.6 Europe Cannabis Market Revenue and Forecasts to 2027, By Country (%)
11.7 UK Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.7.1 UK Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.7.2 UK Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
11.7.3 UK Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
11.7.3.1 UK Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.7.4 UK Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11.8 Germany Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.8.1 Germany Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.8.2 Germany Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
11.8.3 Germany Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
11.8.3.1 Germany Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.8.4 Germany Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11.9 France Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.10 France Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.10.1 France Cannabis Market revenue and forecasts, by Product Type(US$ Mn)
11.10.2 France Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
11.10.2.1 France Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.10.3 France Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11.11 Italy Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.11.1 Italy Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.11.2 Italy Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
11.11.3 Italy Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
11.11.3.1 Italy Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.11.4 Italy Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11.12 Spain Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.12.1 Spain Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
11.12.2 Spain Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
11.12.3 Spain Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
11.12.3.1 Spain Medical Market Revenue and Forecasts, By Type (US$ Mn)
11.12.4 Spain Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
12. Asia Pacific Cannabis Market Revenue and Forecasts to 2027
12.1 Overview
12.2 Asia Pacific Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.3 Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.4 Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.4.1 Asia Pacific Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.5 Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
12.6 Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Country (%)
12.7 Japan Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.7.1 Japan Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.7.2 Japan Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.7.3 Japan Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.7.4 Japan Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.7.5 Japan Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
12.8 China Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.8.1 China Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.8.2 China Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.8.3 China Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.8.3.1 China Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.8.4 China Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
12.9 India Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.9.1 India Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.9.2 India Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.9.3 India Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.9.3.1 India Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.9.4 India Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
12.10 Australia Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.10.1 Australia Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.10.2 Australia Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.10.3 Australia Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.10.3.1 Australia Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.10.3.2 Australia Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
12.11 South Korea Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.11.1 South Korea Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
12.11.2 South Korea Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
12.11.3 South Korea Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
12.11.3.1 South Korea Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
12.11.4 South Korea Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
13. Middle East & Africa Cannabis Market Revenue and Forecasts to 2027
13.1 Overview
13.2 Middle East & Africa Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.3 Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
13.4 Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
13.4.1 Middle East & Africa Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
13.5 Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
13.6 Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Country (%)
13.7 South Africa Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.7.1 South Africa Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.7.2 South Africa Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
13.7.3 South Africa Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
13.7.3.1 South Africa Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
13.7.4 South Africa Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
13.8 Saudi Arabia Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.8.1 Saudi Arabia Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.8.2 Saudi Arabia Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
13.8.3 Saudi Arabia Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
13.8.3.1 Saudi Arabia Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
13.8.4 Saudi Arabia Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
13.9 UAE Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.9.1 UAE Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
13.9.2 UAE Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
13.9.3 UAE Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
13.9.3.1 UAE Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
13.9.4 UAE Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
14. South and Central America Cannabis Market Revenue and Forecasts to 2027
14.1 Overview
14.2 South and Central America Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
14.3 South and Central America Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
14.4 South and Central America Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
14.4.1 South and Central America Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
14.5 South and Central America Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
14.6 South and Central America Cannabis Market Revenue and Forecasts to 2027, By Country (%)
14.7 Brazil Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
14.7.1.1 Brazil Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
14.7.2 Brazil Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
14.7.3 Brazil Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
14.7.3.1 Brazil Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
14.7.4 Brazil Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
14.7.5 Argentina Cannabis Market
14.7.5.1 Argentina Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
14.7.6 Argentina Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
14.7.7 Argentina Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
14.7.7.1 Argentina Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
14.7.8 Argentina Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
15. Impact of COVID-19 Pandemic on Global Cannabis Market
15.1 North America: Impact Assessment of COVID-19 Pandemic
15.2 Europe: Impact Assessment of COVID-19 Pandemic
15.3 AsiaPacific: Impact Assessment of COVID-19 Pandemic
15.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
16. Cannabis Market – Industry Landscape
16.1 Overview
16.2 Growth Strategies Done By The Companies In The Market, (%)
16.3 Organic Developments
16.3.1 Overview
16.4 Inorganic developments
16.4.1 Overview
17. Cannabis Market–Key Company Profiles
17.1 Aphria, Inc.
17.1.1 Key Facts
17.1.2 Business Description
17.1.3 Financial Overview
17.1.4 Product Portfolio
17.1.5 SWOT Analysis
17.1.6 Key Developments
17.2 Aurora Cannabis
17.2.1 Key Facts
17.2.2 Business Description
17.2.3 Financial Overview
17.2.4 Product Portfolio
17.2.5 SWOT Analysis
17.2.6 Key Developments
17.3 Cannabis Science, INC.
17.3.1 Key Facts
17.3.2 Business Description
17.3.3 Financial Overview
17.3.4 Product Portfolio
17.3.5 Swot Analysis
17.3.6 Key Developments
17.4 Canopy Growth Corporation
17.4.1 Key Facts
17.4.2 Business Description
17.4.3 Financial Overview
17.4.4 Product Portfolio
17.4.5 SWOT Analysis
17.4.6 Key Developments
17.5 Medical Marijuana, Inc.
17.5.1 Key Facts
17.5.2 Business Description
17.5.3 Financial Overview
17.5.4 Product portfolio
17.5.5 SWOT Analysis
17.5.6 Key Developments
17.6 VIVO Cannabis Inc.
17.6.1 Key Facts
17.6.2 Business Description
17.6.3 Financial Overview
17.6.4 Product Portfolio
17.6.5 SWOT Analysis
17.6.6 Key Developments
17.7 Tikun Olam
17.7.1 Key Facts
17.7.2 Business Description
17.7.3 Financial Overview
17.7.4 Product Portfolio
17.7.5 SWOT Analysis
17.7.6 Key Developments
17.8 Terra Tech Corp.
17.8.1 Key Facts
17.8.2 Business Description
17.8.3 Financial Overview
17.8.4 Product Portfolio
17.8.5 Swot Analysis
17.8.6 Key Developments
17.9 Tilray
17.9.1 Key Facts
17.9.2 Business Description
17.9.3 Financial Overview
17.9.4 Product Portfolio
17.9.5 SWOT Analysis
17.9.6 Key Developments
17.10 The Cronos Group
17.10.1 Key Facts
17.10.2 Business Description
17.10.3 Financial Overview
17.10.4 Product portfolio
17.10.5 SWOT Analysis
17.10.6 Key Developments
18. Appendix
18.1 About The Insight Partners
18.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 2. North America Cannabis Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 3. North America Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 4. North America Cannabis Market Revenue And Forecasts to 2027, By Compound (US$ Mn)
Table 5. US Cannabis market Revenue And Forecasts to 2027, By Product Type(US$ Mn)
Table 6. US Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 7. US Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 8. US Cannabis Market Revenue And Forecasts to 2027, By Compound (US$ Mn)
Table 9. Canada Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 10. Canada Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 11. Canada Medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 12. Canada Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 13. Mexico Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 14. Mexico Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 15. Mexico Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 16. Mexico Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 17. Europe Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 18. Europe Cannabis Market Revenue And Forecasts To 2027, By Application (US$ Mn)
Table 19. Europe Medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 20. Europe Cannabis Market Revenue and Forecasts to 2027, By COMPOUND (US$ Mn)
Table 21. UK Cannabis Market Revenue and Forecasts to 2027, By PRODUCT TYPE(US$ Mn)
Table 22. UK Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 23. UK Medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 24. UK Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 25. Germany Cannabis Market Revenue and Forecasts to 2027, By PRODUCT TYPE(US$ Mn)
Table 26. Germany Cannabis Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 27. Germany Medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 28. Germany Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 29. France Cannabis Market Revenue and Forecasts to 2027, By PRODUCT TYPE(US$ Mn)
Table 30. France Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 31. France medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 32. France Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 33. Italy Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 34. Italy Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 35. Italy Medical Market Revenue and Forecasts to 2027, By type (US$ Mn)
Table 36. Italy Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 37. Spain Cannabis Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)
Table 38. Spain Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 39. Spain Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 40. Spain Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 41. Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 42. Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 43. Asia Pacific Medical Market Revenue And Forecasts to 2027, By Type (US$ Mn)
Table 44. Asia Pacific Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 45. Japan Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 46. Japan Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 47. Japan Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 48. Japan Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 49. China Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 50. China Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 51. China Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 52. China Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 53. India Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 54. India Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 55. India Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 56. India Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 57. Australia Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 58. Australia Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 59. Australia Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 60. Australia Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 61. South Korea Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 62. South Korea Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 63. South Korea Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 64. South Korea Cannabis Market Revenue And Forecasts to 2027, By Compound (US$ Mn)
Table 65. Middle East & Africa Cannabis Market Revenue And Forecasts to 2027, By Product Type (US$ Mn)
Table 66. Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 67. Middle East & Africa Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 68. Middle East & Africa Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 69. South Africa Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 70. South Africa Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 71. South Africa Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 72. South Africa Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 73. Saudi Arabia Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 74. Saudi Arabia Cannabis Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 75. Saudi Arabia Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 76. Saudi Arabia Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 77. UAE Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 78. UAE Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 79. UAE Medical Market Revenue And Forecasts to 2027, By Type (US$ Mn)
Table 80. UAE Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 81. South and Central America Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 82. South and Central America Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 83. South and Central America Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 84. South and Central America Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 85. BrazilCannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 86. BrazilCannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 87. Brazil Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 88. BrazilCannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 89. Argentina Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 90. Argentina Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 91. Argentina Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 92. Argentina Cannabis Market Revenue And Forecasts to 2027, By Compound (US$ Mn)
Table 93. Organic Developments Done by Companies
Table 94. Inorganic developments done by Companies
Table 95. Glossary of Terms, Cannabis Market
LIST OF FIGURES
Figure 1. Cannabis Market Segmentation
Figure 2. Cannabis Segmentation, By Region
Figure 3. Global Cannabis Market Overview
Figure 4. Flowers Segment Held Largest Share Of The Product Segment In Cannabis Market
Figure 5. North America Region Is Expected To Show Remarkable Growth During The Forecast Period
Figure 6. Global Cannabis Market, By Geography (US$ Mn)
Figure 7. Global Cannabis Market- Leading Country Markets (US$ Mn)
Figure 8. Global Cannabis Market, Industry Landscape
Figure 9. North America: Pest Analysis
Figure 10. Europe: Pest Analysis
Figure 11. Asia Pacific Pest Analysis
Figure 12. Middle East & Africa Pest Analysis
Figure 13. South & Central America Pest Analysis
Figure 14. Global Cannabis Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 15. Global Cannabis Market – By Geography Forecasts and Analysis – 2019- 2027
Figure 16. Global Cannabis Market – Market Positioning
Figure 17. Global Cannabis Market Share by Product Type 2019 & 2027 (%)
Figure 18. Flowers Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 19. Concentrates Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 20. Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 21. Global Cannabis Market Share by Application,2019 & 2027 (%)
Figure 22. Medical Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 23. Pain Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 24. Neurological Health Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 25. Mental Health Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 26. Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 27. Recreational Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 28. Global Cannabis Market Share By Compound 2019 & 2027 (%)
Figure 29. Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 30. Cannabidiol (CBD)-Dominant Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 31. Balanced THC and CBD Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 32. North America Cannabis Market Revenue, By Country, 2019 (US$ MN)
Figure 33. North America Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 34. North America Cannabis Market Revenue and Forecasts To 2027, By Country (%)
Figure 35. US Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 36. Canada Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 37. Mexico Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 38. Europe Cannabis Market REVENUE, By Country, 2019 (US$ MN)
Figure 39. Europe Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 40. Europe Cannabis Market Revenue and Forecasts To 2027, By Country (%)
Figure 41. UK Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 42. Germany Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 43. France Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 44. Italy Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 45. Spain Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 46. Asia Pacific Cannabis Market Overview, By Country (2019)
Figure 47. Asia Pacific Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 48. Asia Pacific Cannabis Market Revenue and Forecasts To 2027, By Country (%)
Figure 49. Japan Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 50. China Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 51. India Oncology Drugs Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 52. Australia Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 53. South Korea Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 54. Middle East &Africa Cannabis Market Overview, By Country (2019)
Figure 55. Middle East &Africa Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 56. Middle East &Africa Cannabis Market Revenue and Forecasts To 2027, By Country (%)
Figure 57. South Africa Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 58. Saudi Arabia Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 59. UAE Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 60. South and Central America Cannabis Market Overview, By Country (2019)
Figure 61. South and Central America Cannabis Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 62. South and Central America Cannabis Market Revenue And Forecasts To 2027, By Country (%)
Figure 63. Brazil Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 64. Argentina Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 65. Impact of COVID-19 Pandemic on Cannabis Market in North American Countries
Figure 66. Impact of COVID-19 Pandemic on Cannabis Market in European Countries
Figure 67. Impact of COVID-19 Pandemic on Cannabis Market in Asia Pacific Countries
Figure 68. Impact of COVID-19 Pandemic on Cannabis Market in Rest of the World
Figure 69. Growth Strategies Done by The Companies In The Market, 2019 (%)
The List of Companies - Cannabis Market
- Aphria, Inc.
- Aurora Cannabis
- Cannabis Science, INC.
- Canopy Growth Corporation
- Medical Marijuana, Inc.
- VIVO Cannabis Inc.
- Tikun Olam
- Terra Tech Corp.
- Tilray
- The Cronos Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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