According to our new market research study “Cannabis Market to 2027 – Global Analysis and Forecast by Product Type, Compound and Application”, the market is expected to reach USD 147,457.4 million by 2027, compared to USD 14,383.8 million in 2019; Growth of 29.1% is estimated from 2020 to 2027. The report highlights the prevailing trends in the global cannabis market along with the drivers and barriers to market growth.
Based on the connection, the global cannabis market is divided into tetrahydrocannabinol-dominant (THC-dominant), cannabidiol-dominant (CBD-dominant), and balanced THC and CBD. In 2019, the THC-dominant segment had the largest market share. However, the market for CBD-dominant cannabis is expected to have the fastest CAGR in the period 2020-2027. THC offers many additional medicinal benefits. It may help improve memory when taken in small doses, according to a mouse study published in 2016.
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Aphria, Inc .; Aurora Cannabis; Cannabis Science, INC; Canopy Growth Corporation; Medical Marijuana, Inc; VIVO Cannabis Inc .; Tikun Olam, Terra Tech Corp., Tilray; and The Cronos Group are among the leaders in the cannabis market.
The growth of the global cannabis market is due to the legalization of medical cannabis. growing medical uses of cannabis; and raising awareness of medical cannabis through conferences, symposia and workshops. In addition, the growing demand for cannabis during the ongoing COVID-19 pandemic is likely to have a positive impact on the market in the coming years.
The World Medical Cannabis Conference and Expo (last held in April 2018) is one of the most popular conferences in the United States. Participants come from all over the world. It is the world’s largest cannabis symposium that brings all business stakeholders together. It includes over 3000 guests and 150 exhibitors. CannaCon (August 2019) is the first symposium on the legal sale of cannabis for business purposes. The fair offers guests a platform for exchanging knowledge with other business experts with over 12,000 guests. The US Cannabis Conference and Expo (USCC Expo) (August 2019) includes high-profile discussions and presentations aimed at educating entrepreneurs with the aim of advancing the development and development of the medical cannabis industry.
Reasons to buy:
- The nature of the business opportunities for cannabis has grown in complexity as the industry has developed, making it increasingly difficult to do without adequate information about markets and companies.
- Get a thorough understanding of the global cannabis industry through the comprehensive analysis
- Assess the pros and cons of investing in cannabis markets at the country level using reliable forecasting model results
- Identify potential investment / contract / expansion opportunities
- Drive your strategies in the right direction by understanding the impact of the latest trends and market forecasts on your cannabis business
- Beat your competition with information about their operations, strategies, and new projects
- The latest insights into the cannabis market will help users in the market to initiate transformation growth
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