The legal cannabis industry is expected to grow to a $97.35 billion industry by 2026, and if you’re looking to invest in the business, Fortune believes that the best time to get in is now. There are many factors that will contribute to that growth and it’s important to know them all if you want to be a success.

Cannabis is a medicinal herb that is used to treat a plethora of medical conditions. Its use has proven to successfully treat a wide range of illnesses, including pain, anxiety, depression, and even cancer. The leaves, flowers, and stems of the plant are made into a wide variety of products, such as oils, creams, and pills. According to a recent estimate by Fortune, a market research firm, the cannabis industry is expected to reach a value of $97.35 billion by 2026.

Pune, India, 08. June 2021 (GLOBE NEWSWIRE) — The global cannabis market will grow, notes Fortune Business Insights™ in an upcoming report titled Cannabis/Marijuana Market, 2019-2026due to increasing use for medical purposes. According to the United Nations Office on Drugs and Crime (UNODC). Cannabis has therapeutic and medicinal properties. According to the report, the market size was USD 10.60 billion in 2018 and is expected to reach USD 97.35 billion by 2026, growing at a CAGR of 32.92% during the forecast period. COVID-19 Effect: The world faces the unprecedented challenge of the COVID-19 pandemic. Several companies have closed their production and distribution units due to the lockdown. Instead, production sites switched to hand sanitizers, ,PPE kits and masks to meet the high demand of frontier workers and ordinary people. Hawkins, the world’s largest manufacturer of pressure cookers, based in India, has been hit by a virus that has negatively impacted the growth of the market. The list of leading companies in the global cannabis market includes:

  • Aurora Cannabis
  • Aphria Inc.
  • Canopy Growth Corporation
  • MedReleaf Corp.
  • Cronos Group Inc.
  • GW Pharmaceuticals. Plc.
  • CannTrust Holdings Inc.
  • VIVO Cannabis Inc.
  • Tilray

Download a sample brochure in PDF format: Segmentation: By type, the cannabis market is divided into flowers/chips and concentrates. By use, cannabis is divided into three categories: medical, recreational and industrial. Geographically, the market is segmented into North America, Europe, Asia Pacific and Western Europe. Main features of the report The report provides an accurate assessment of the market, regions, and segments. It presents the strategies of several major cannabis/marijuana producers, the driving forces and the limitations of the market. It will also help our clients accurately determine the size of the market to help them choose the right strategy to grow their business. Pipes and restrictions: Increasing demand in the leisure sector will contribute to the growth of the market The increasing demand for cannabis-infused candies, chocolates and drinks is driving the growth of the marijuana market. The growing trend among youth to use cannabis/marijuana for recreational purposes is driving the market, as they inhale its smoke and vapor to experience euphoric feelings. Moreover, product and packaging innovations will also play an important role in driving the market in the coming period. On the other hand, the misuse of legalised drugs for criminal purposes and drug addiction constitute major barriers to the market. Regional information: North America will dominate the market as a result of cannabis legalisation in some regions North America is expected to lead the cannabis market share with a market value of $10.18 billion in 2018, as cannabis and CBD have been legalized in many North American countries for recreational and medical purposes. As of July 2019, marijuana has been legalized in 11 states and Colombia. Cannabis is used for conditions such as Alzheimer’s disease, arthritis, chronic pain and for the treatment of cancer. On the other hand, the market in South America is also expected to grow through exports to Canada, Europe and the US, as Colombia is a major producer of medical marijuana, NPR reported in September 2019. See detailed summary of research report with OCD: Competitive landscape Key players will expand their product portfolio to drive market growth The global cannabis market is highly competitive and dynamic. The major players are looking to expand their market by forming new partnerships and expanding their product range as the legalization of these weed varieties gradually spreads around the world. So, with consumers in mind, manufacturers are offering more processed forms in addition to flowers/buds, such as butter, cookies and other tropical products. Major industry events January 2019: Aphira and the Colombian Medical Association have collaborated to develop a new training program on the medical use of cannabis to raise awareness. Dec 2018: The U.S. Agricultural Improvement Act classified hemp and marijuana as two legally distinct products under the Controlled Substances Act. This would legalize the sale of cannabidiol (CBD), which is derived from cannabis, throughout the United States, but the plant itself remains illegal at the federal level. Detailed table of contents :

  • Introduction
    • Scope of the study
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market drivers
    • Market restrictions
    • Market opportunities
    • Emerging trends
  • Basic data
    • Control of narcotic drugs and psychotropic substances
    • Latest industry developments – policies, partnerships, product launches, mergers and acquisitions
    • Cannabis beverage production and consumption – analysis and forecasting
    • Regulations for cannabis, by country
  • Global Cannabis Market Analysis, Research and Forecast, 2015-2026
    • Main results / summary
    • Estimation and forecast of the market size
      • By type (costs)
      • After application (costs)
        • Medicine
        • Free time
        • Industrial hemp
      • By region (costs)
        • North America
        • Europe
        • Asia-Pacific
        • The rest of the world
  • North American Cannabis Market Analysis and Forecast, 2015-2026
    • Main results / summary
    • Estimation and forecast of the market size
      • By type (costs)
      • After application (costs)
        • Medicine
        • Free time
        • Industrial hemp
      • By country (costs)

A continuation of TOS… ! Please ask before you buy this research report: About us: Fortune Business Insights™ provides accurate data and innovative business analytics to help organizations of all sizes make the right decisions. We develop new solutions for our clients and help them solve various problems specific to their business. Our aim is to provide them with global information that gives a detailed overview of the market in which they operate. Phone: UNITED STATES: +1 424 253 0390 GREAT BRITAIN : +44 2071 939123 APR: +91 744 740 1245 E-mail: [email protected] LinkedIn: Facebook: Twitter:   Cannabis Market Size to Worth $97.35 Billion by 2026; Increased Use for Medical & Theraputic Purposes to Aid Marijuana Industry Growth, Says Fortune Business Insights™

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