Discover a detailed exploration of the Cannabis Market by Data Bridge Market Research, thoughtfully presented with visual finesse to ensure seamless data absorption. Crucial insights are illuminated through vivid graphs, charts, and figures, empowering astute decision-making.
Global medicinal cannabis makes up a sizable portion of the cannabis market due to the Many nations have approved the use of cannabis for medicinal purposes, including Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, and Uruguay.
Data Bridge Market Research analyses that the cannabis market was valued at USD 25.40 billion in 2021 and is further estimated to reach USD 168.58 billion by 2029, and is expected to grow at a CAGR of 9% during the forecast period of 2022 to 2029.
The Cannabis report serves as a compass for understanding consumer demands, preferences, and evolving tastes for specific products. Serving as a validated information source, this report offers a panoramic view of prevailing market trends, scenarios, opportunities, and status. It meticulously encompasses all facets of the market essential for crafting an exceptional and superior market research report. Within this Cannabis market analysis, an in-depth exploration of segments expected to experience rapid growth within the forecasted time frame is provided, offering granular market insights crucial for making astute business decisions.
Methodically gathering, recording, and analysing data concerning the marketing of goods and services, this Cannabis market report delivers an exemplary market research dossier to businesses. Featuring CAGR value fluctuations projected for the market within the forecast period, this report equips businesses with excellent solutions to overcome myriad challenges. The comprehensive market information embedded within this Cannabis report is poised to foster business growth and enhance return on investment (ROI) significantly.
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Market Growth Drivers:
- Medicinal qualities of cannabis
The increased incidence of chronic diseases after 50 years of age, as well as the efficacy of cannabis in treating such problems. January 2018, the Australian government has permitted regional cannabis growers to export medical cannabis and its products to the international market which is further anticipated to propel the growth of the market.
- Enabling policy and regulatory relaxation
The HEROES Act, which included the SAFE Banking Act, was enacted by the House of Representatives and forwarded to the Senate in 2020. This bill allows banks to provide services to marijuana businesses in places where it is legal. However, an increasing number of nations have created legal frameworks for adult non-medicinal usage, such as social, religious, and cultural objectives which will further accelerate the growth of the market.
Notably, the report emphasizes the engagement of essential entities, including:
The Cronos Group (Canada)
Tilray (US)
Marley Natural (US)
Aurora Cannabis (Canada)
Cara Therapeutics (US)
ARUMA LABS HOLDINGS PTY LIMITED (Australia)
Medcan Australia (Australia)
Sundial Growers Inc. (Canada)
Canopy Growth Corporation (Canada)
The Scotts Company LLC (US)
Aphria Inc. (Canada)
VIVO Cannabis Inc. (Canada)
Cannatrek (Australia)
SpeedWeed (US)
GW Pharmaceuticals plc. (UK)
Harborside Health Center (US)
Decoding Market Nuances: Key Takeaways
- Holistic Market Share Assessment
- Thorough evaluation of market shares globally and regionally.
- Parent Market Dynamics & Growth Prospects
- Uncover dynamics of the parent market and potential growth areas.
- Order Management Software Analysis
- Delve into current and future trends of global order management software.
- Dynamic Industry Shifts
- Navigate through evolving industry dynamics.
- Key Players' Strategies & Product Landscape
- Understand strategies and product landscapes of key industry players.
- Market Size: Past, Present, and Future
- Comprehensive examination of historical, current, and projected market sizes.
- Strategic Profiling for Informed Decisions
- Strategically profile key players, analyzing market positions and competencies.
Key Market Segmentation
By Product Type (Buds, Oil, Tinctures, Others), Usage (Medical, Recreational), Crop Variety (Cannabis Indica, Cannabis Sativa, Others), Distribution Channel (Physical, Digital, Others)
Intended Audience:
- Companies within the Cannabis industry
- Investors and analysts keen on the Cannabis market
- Individuals seeking insights into the dynamics of the Cannabis market
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