In the first half of 2019, the global cannabis market is expected to reach USD 24.5 billion. The market is expected to grow at a CAGR of 28.5% during 2019-2027.
Cannabis industry as a whole, and the cannabis industry in particular, are growing at a rapid pace. In fact, the industry is expected to experience a CAGR of 28.5% between 2015 and 2027. While the U.S. dominated the cannabis industry in 2014, with a market share of 28%, Canada led the way in 2015 with a market share of 43%. In 2016, the U.S. and Canada are anticipated to hold a 50% market share, with the remaining 50% being held by Latin America. Of the nine countries in Latin America, the two most populated countries, Brazil and Mexico, are expected to hold the lion’s share of the market share, with a market share of 52% and 30%, respectively
In 2018, the global cannabis market is likely to continue its steady growth with the industry expected to reach $170.7 billion by 2027. The market is driven by two major factors; the increasing legalization of the drug in the major markets like the U.S., and the positive shift in public perception towards the use of cannabis for medical purposes.
Selbyville, Delaware, 01. July 2021 (GLOBE NEWSWIRE) — According to credible sources, the global cannabis market was valued at $20.6 billion in 2019 and is expected to register a CAGR of 28.5% during the period 2021-2027, to reach $118.9 billion by the end of the analysis period.
In addition, Porter’s Five Forces Model, the Investment Adoption Model and PEST analysis are used, with assumptions made by industry experts to provide a more complete picture of the market space. In addition, the report also examines the regional landscape, considering both quantitative and qualitative aspects. Finally, the report presents a competitive hierarchy, focusing on the business profiles of individual companies.
The development of cannabis genetics to increase yields and legalization in several countries for its medicinal properties are driving the growth of the global cannabis market.
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According to reliable data, in January 2018, regional cannabis producers received permission from the Australian government to export medical cannabis and its by-products worldwide. The United States, as well as other countries such as the Netherlands, Peru, Israel, Italy, Uruguay, Poland, Portugal, Chile, Colombia, Germany, Greece and Canada have also approved the use of cannabis for medicinal purposes. According to Cannabis Europe, France is also planning to legalise medicinal cannabis by the end of 2020, following the UK and Germany.
For those who don’t know: Cannabis is a large flowering plant with a stiff, upright stem that has been legalized for medicinal use in many countries.
However, different countries have different policies regarding cannabis use, which may limit the growth of the global cannabis market from 2021 to 2027.
Identification of market segments
By product type, the global cannabis market is classified into concentrates, flowers, and others. In terms of scope, the industry is divided into two categories: recreational and medical. In terms of composition, the market includes a cannabidiol (CBD) dominated market, a tetrahydrocannabinol (THC) dominated market and a THC and CBD balanced market.
Regional spectrum development
Expert analysts say North America has led the forecast of the global cannabis market in the recent past and will continue to grow during the period 2021-2027 due to widespread legalization of recreational and medicinal cannabis and awareness about the benefits of CBD among the regional population.
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Global Cannabis Market Share by Product Type (Revenue, Billion USD, 2017-2027)
Global Cannabis Market by Application (Revenue, Billion USD, 2017-2027)
Global cannabis market by medicinal ambition (revenue, USD billion, 2017-2027).
- Mainly Cannabidiol (CBD)
- With a predominance of tetrahydrocannabinol (THC).
- Balanced THC and CBD
Regional landscape of the global cannabis market (revenue, USD billion, 2017-2027)
Global Cannabis Market Competitive Panel (Revenue, $ Billion, 2017-2027)
- Canopy Growth Corporation
- Harvest Health & Recreation Inc.
- Aurora Cannabis Inc.
- Company Terra Tech
- VIVO Cannabis Inc.
- OrganiGrams Holdings Inc.
- Cronus Group
- Medical Marijuana Inc.
- Maricann Group Inc. (Wayland Group Corp.)
Table of contents :
Chapter 1. Summary
1.1. Market Overview
1.2. Global and segmented market estimates and forecasts, 2019-2027 (USD billion)
1.2.1. Cannabis market, by region, 2019-2027. (USD billion)
1.2.2. Cannabis market, by product type, 2019-2027. (USD billion)
1.2.3. Cannabis market, by application, 2019-2027 (USD billion)
1.2.4. Cannabis market, by substance, 2019-2027. (USD billion)
1.3. Main trends
1.4. Evaluation methodology
1.5. Research Hypothesis
Chapter 2. Definition and size of the global cannabis market
2.1. Purpose of the study
2.2. Market definition and scope
2.2.1. Scope of the study
2.2.2. Development of sector
2.3. Years considered for the study
2.4. Conversion rates for currencies
Chapter 3. Global cannabis market dynamics
3.1. Cannabis market impact analysis (2019-2027)
3.1.1. Market factors
22.214.171.124 Increasing medical use of cannabis
126.96.36.199 Increasing legalization of cannabis and growing public acceptance of marijuana.
3.1.2. Market Challenges
188.8.131.52. Complex structure of cannabis regulation
3.1.3. Market opportunities
184.108.40.206 Product development through research and new product supply solutions
Chapter 4. Global cannabis industry market analysis
4.1. Porter’s Five Forces Model
4.1.1. Bargaining power of suppliers
4.1.2. Negotiation position of buyers
4.1.3. Threat to new entrants
4.1.4. Threat of substitutes
4.1.6. A futuristic approach to Porter’s 5 forces model (2018-2027)
4.2. PEST analysis
4.3. Investment assumptions model
4.4. Analysts’ recommendations and conclusions
Chapter 5. Global cannabis market, by product type
5.1. Market Overview
5.2. Global Cannabis Market by Product Type, Productivity – Potential Analysis
5.3. Global Cannabis Market Estimates and Forecasts by Product Type 2018-2027 (USD Billion)
5.4. Cannabis market, analysis of sub-segments
Chapter 6. Global cannabis market, by scope
6.1. Market Overview
6.2. Global Cannabis Market by Application, Production – Analysis of Potential
6.3. Global Cannabis Market Estimates and Forecasts by Application Area 2018-2027 (USD billion)
6.4. Cannabis market, analysis of sub-segments
Chapter 7. Global cannabis market, by substance
7.1. Market Overview
7.2. Global Cannabis Market by Active Ingredient, Production – Analysis of Potential
7.3. Global Cannabis Market Estimates and Forecasts by Active Ingredient 2018-2027 (USD billion)
7.4. 7.4. Cannabis market, analysis of
tetrahydrocannabinol (THC) predominates 7.4.2. Cannabidiol (CBD) dominant
7.4.3. Balanced THC and CBD
Chapter 8. Global cannabis market, regional analysis
Relevant report :
United States Cannabis Testing Market size, industry analysis report, overview by regions, application potential, price trends, competitors market share and forecast, 2021 – 2027.
The U.S. cannabis testing market is expected to grow in the coming years due to the increasing use of the product for medical purposes, legalization of cannabis in several states, and the resulting greater need for overall consumer safety. After the legalization of cannabis, testing became an important aspect of the new industry. The increasing legalization of medicinal and recreational cannabis for adult use has led to a need for robust and reliable analytical tests to ensure consumer safety.
Testing cannabis allows growers and retailers to comply with government regulations and provide high quality products that are easy to distribute and can be considered safe for consumption by customers. Testing requirements for cannabis vary from state to state, but most states require testing and labeling for potency and various contaminants such as pesticides, heavy metals, microbes, and residual solvents.
In Colorado, for example, all cannabis products at retail must be tested for residues of solvents such as BTX, heptane, hexane and butane, microorganisms such as mold, yeast, salmonella and E. coli, and potency levels such as CBN, CBDa, CBD, THCa and THC, before they reach dispensary shelves. Moreover, pharmaceutical companies selling cannabis products typically conduct much more rigorous testing than other manufacturers of recreational cannabis products for adult use.
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