The growing legalization of cannabis across the globe and the demand for medical marijuana in managing various neurological and mental disorders
— Emergen Research
VANCOUVER, BC, CANADA, June 2, 2022 /EINPresswire.com/ — The Global Cannabis/Marijuana Market is projected to reach USD 48.29 billion in 2027. The market is being predominantly driven by the growing usage of Cannabis/Marijuana for many medicinal and recreational usage and increasing legalization in many countries with proliferating portfolio of end-use products. Rising proven studies suggests supporting the medicinal properties to treat many medical conditions including chronic pain, glaucoma, and poor appetite, nausea, migraines, seizures, and anxiety, among many others have been helping grow its usage amongst the end-users.
There has been a lot of advancement happening in the industry by various key market players to increase market penetration, such as, In May 2018, Aurora Cannabis/Marijuana acquired MedReleaf. The agreement brings together two of Canada’s premier marijuana companies with fully-aligned strategic visions. The company will come together and create a powerful platform for accelerated growth on a global scale.
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Aurora and MedReleaf teams consider the acquisition to be a vital successful deal in the marijuana industry; low production costs and industry-leading yields can be expected out of this agreement as Aurora’s programmed greenhouses are anticipated to provide industry-leading efficiency and low production costs, delivering sustainably robust margins. MedReleaf’s high-yield cultivation is expected to enhance productivity further and reduce costs across the combined entity’s facilities and widespread distribution channels in Canada and internationally will help the two companies have established distribution agreements in Canada.
Key findings from the report suggest
Based on Compound, THC dominates the industry share attributed to the fact that these compound contains the psychoactive substance in marijuana products and is responsible for the head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has significant medical benefits and is considered useful in relieving nausea, appetite loss, and insomnia.
Geographically, North America, especially the United States and Canada, dominates the market. The recent legalization of marijuana taken place in the North America segment for medical purposes has been a significant driver of marijuana market growth. Other major sections include Europe (Germany, Italy, France, the Netherlands, and Spain), Asia Pacific, Latin America, and the Middle East and Africa.
Improving lungs capacity, fighting cancer, helping in weight reduction, treating as an antidepressant, and alleviating anxiety, among others are some of the benefits that can be incubated from Cannabis/Marijuana, and have been crucial supporting factors for the market growth.
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The global Cannabis/Marijuana market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Cannabis/Marijuana market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
The key companies studied in the report are:
Canopy Growth Corporation,
Aurora Cannabis/Marijuana Inc.,
Cannabis/Marijuana Science Inc.,
Maricann Group Inc.,
VIVO Cannabis/Marijuana Inc.,
Medical Marijuana, Inc.,
Cronos Group Inc.,
Terra Tech Corp., and
MedMen, among others.
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Emergen Research has segmented into the global Cannabis/Marijuana Market on the basis of Product Type, Compound, Application, and region:
Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Compound Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Balanced THC & CBD
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Neurological Health Management
Mental Health Management
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East & Africa
Rest of MEA
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Valuable Market Insights:
The report highlights the latest trends observed in the consumption pattern of each regional segment.
Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Cannabis/Marijuana market.
The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Questions addressed in the report:
What is the estimated market growth rate throughout the forecast period?
Which end-use industry is expected to witness the highest demand for Cannabis/Marijuana in the near future?
What is the regulatory framework governing the application of Cannabis/Marijuana in the food industry?
Which manufacturing processes are utilized for the production of Cannabis/Marijuana?
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