The cannabis market is expected to reach US$ 147,457.4 million by2027 from US$ 14,383.8 million in 2019; it is estimated to grow at a CAGR of 29.1% from 2020 to 2027.
Cannabis is commercially available in forms such as marijuana, hashish, and Hash oil. A few species of cannabis are used to produce hemp fiber for use in paper, textiles, and clothing. Cannabis has been in use for medical purposes for many years. Recent studies show that cannabis may be useful in treating conditions such as nausea and vomiting, particularly when associated with chemotherapy, glaucoma, epilepsy, and asthma.The growing legalization of medical cannabis; increasing medicinal application of cannabis;and rising awareness regarding medical cannabis through conferences, symposia, and workshops are the major factors propelling the demand for cannabis. However, the stringent regulatory framework for the use of cannabisis market restrains the growth.
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Some of the companies competing in the Cannabis market are
Cannabis Science, INC
Canopy Growth Corporation
Medical Marijuana, Inc
VIVO Cannabis Inc.,
Terra Tech Corp.,
The Cronos Group
By Product Type
Neurological Health Management
Mental Health Management
Balanced THC and CBD
Regional / Country Cannabis Market: North America, Europe, Asia Pacific, Middle East and Africa, Latin America
The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2021–2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Cannabis market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Cannabis market?
4. What are the prominent market trends influencing the development of the Cannabis market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Cannabis market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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