The global cannabis market is estimated to generate revenue worth USD 19.37 in 2020, and is expected to grow at 22.6 CAGR during the forecast period of 2021 to 2027, and reach an expected market value of USD 80.6 in 2027.
The COVID-19 pandemic had a negative impact on the market size for the year 2020, with small and medium scale companies struggling to sustain their businesses in the near term future. We anticipate around 2% to 3% deviation in growth (CAGR) outlook due to the corona virus spread. The cannabis market growth has become variable by region with some countries offering huge growth potential while others face closures and low profit margins.
cannabis market outlook to 2027 report includes the latest predictions of global cannabis market along with geography, therapy area and applications. The report specifically focuses on different types of cannabis with a special attention of their emergence over the forecast period to 2027.
The research report provides objective measures to tap into the future opportunities that will be available over the next six years. It also highlights key areas to watch over the future along with detailed insights into drivers and challenges across different cannabis applications and products.
The cannabis market report aggregates the current market size based on volume and average price data. It also includes six year outlook to 2027 on the basis of anticipated growth rates for each sub segment and industry as a whole.
The base case outlook in the next six years for different types of cannabis , across different verticals and countries is provided. It additionally examines the key dynamics around companies, markets, along with key trends, drivers and challenges facing the cannabis worldwide.
The report covers a broad region from Asia Pacific, North America, Europe, Latin America and Middle East Africa for the period of 2020 to 2027. 12 countries across these regions are analyzed independently in the cannabis report. Impact of domestic market conditions, price variations, competition, government policies, healthcare spending, technological and local market conditions are assessed for country level forecasts.
Global spending on healthcare continues to increase significantly with ageing population, increased access to treatment and ongoing advancements in technology. This provides strong support for cannabis market growth in the medium to long term future. While growth will remain steady in the developed markets, Asian and other emerging markets will be key for cannabis market growth from 2020 to 2027.
To address the expanding need for advanced cannabis products, companies are rapidly embracing the new market dynamics, primarily focusing on new launches, specifically to suit local and regional demand patterns. Accordingly, detailed discussion about broader implications of key strategies, product launches and other latest cannabis market developments are included in the research work.
Balanced THC & CBD
Aurora Cannabis Inc.
Canopy Growth Corp.
Cronos Group Inc.
CV Sciences Inc.
GW Pharmaceuticals Plc
Medical Marijuana Inc.
VIVO Cannabis Inc.
Scope of the cannabis report -
This report covers the 2020 market scenario and outlook of cannabis to 2027. Market size is computed using different types, applications of cannabis across geographies.
1. cannabis market size, US$, 2020- 2027
2. cannabis market drivers
3. cannabis market challenges
4. cannabis market opportunities
5. cannabis market trends
6. cannabis market size forecast by type, 2020- 2027
7. cannabis market size forecast by application, 2020- 2027
8. cannabis market size forecast by country, 2020- 2027
9. cannabis market companies and their strategies
10. Financial and Business Profile of leading vendors
11. cannabis market news and deals
The unbiased independent analysis can save clients significant time and expense by providing an intensive evaluation of cannabis market conditions. Our intensive research and sophisticated forecast methodology ensures reliability of market estimates. Further, one free hour of our analyst’s time can be provided upon procurement of this market report.
The report will be delivered in two working days after order confirmation.