New Report: Legal Cannabis Market Projected To Grow 27% CAGR By 2023

IRELAND: The legal cannabis market is projected to register a CAGR of over 27% by 2023, according to “Global Legal Cannabis Market 2019-2023” a new report just added to ResearchAndMarkets.com.

The latest trend gaining momentum in the market is the use of advanced techniques in cannabis cultivation. According to the report, one of the major drivers for this market is the rapid legalization of cannabis. Further, the report states that one of the major factors hindering the growth of this market is the health hazards associated with the consumption of cannabis products.

Market Trends

  • Increasing demand due to growing number of patients who need cannabis for medical use
  • Use of advanced techniques in cannabis cultivation
  • Rising mergers and acquisitions in the cannabis sector

Key Players

  • Aphria
  • Aurora Cannabis
  • Canopy Growth Corporation
  • CV Sciences
  • Tilray

New Report Details Growth Of Global Cannabis Market to 2023

IRELAND: ResearchAndMarkets.com has released the “Cannabis Market by Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC & CBD), Application (Medical and Recreational), and Region (North America, South America, Europe, and Row) – Global Forecast to 2023” report.

Among the highlights:

Growing medicinal application of cannabis is expected to drive the overall growth of the cannabis market

  • The cannabis market size is expected to grow from USD 10.3 billion in 2018 to USD 39.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period.
  • The cannabis market is driven by various factors such as the growing medicinal application of cannabis and the increasing legalization of cannabis. However, a complex regulatory structure for the use of cannabis can hinder the growth of the market.
  • The concentrates segment is the fastest-growing segment in the cannabis market, by product type. This is due to their ease in usage and their versatility in the method of delivery, such as dabbing, ingestible oils, and tinctures. Also, along with ingestion, concentrates can offer cleaner, smoother, and less-odiferous hits than flowers. Concentrates are being increasingly opted for over flowers, as these as more potent in nature. The potency of concentrates could also be modified as per requirement and usage, to evoke a higher consumer likeability.
  • The THC-dominant segment is projected to hold the largest share and grow at the highest CAGR during the forecast period. The dominance of this segment is majorly attributed to the fact that THC is the psychoactive substance in cannabis products and is responsible for head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has important medical benefits and is considered effective in relieving nausea, appetite loss, and insomnia.
  • The market in this region is primarily driven by the growth in the US and Canadian markets. The market in this region is driven by the increasing legalization of cannabis for both medical and recreational purposes all over North America and the increasing awareness among consumers regarding the health benefits of cannabis.

 

Worldwide Legal Marijuana Market Analysis 2017-2018 & Forecast To 2023: A High Growth of 28.09% Is Projected

IRELAND:  The global legal marijuana market was 15.09 billion USD in 2017 and will reach 66.65 billion USD by 2023 with a CAGR of 28.09% during the period, according to a new market research report,  “Global Legal Marijuana Market – by Type, Application, Region – Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)” published by ResearchAndMarkets.com.

Report highlights, include:

  • The application of marijuana for treatment of various chronic diseases is driving the growth of the market. The legalization of marijuana in developed countries is expected to support the growth of the market. The rising social acceptance of marijuana is also driving the market.
  • On the other hand, the adverse effects of marijuana on human health is restraining the growth of the market
  • North America is expected to account for largest share in coming years owing to legalization of marijuana and increase in use of marijuana in pharmaceutical sector. Asia-Pacific is projected to grow with higher CAGR during the period due to increasing government expenditure on healthcare sector.

Analysts Forecast High Growth For North America Cannabis

IRELAND: The legal Cannabis revolution is only beginning. The 80+ years prohibition against its use is now ending and the tides are clearly turning. Despite being illegal for so long, more than 37 million people in the U.S. and millions more in Canada use Cannabis, both legally and illicitly.

The market for Cannabis in North America already is large and growing quickly. In 2018, more than $41 billion will be sold and by 2026 that figure will rise to $95 billion according to a new report, “North America Cannabis: New Markets, Competitors and Opportunities: 2018-2026 Analysis and Forecasts.

Authors state the Cannabis revolution offers new hope for many medical problems, a substitute for alcohol and tobacco, and unrivaled investment opportunities for individuals and companies wanting participation in this emerging market.

This report is focused on the U.S. and Canada (North America) markets for Cannabis, both legal and illicit. Specifically, this report covers:

  • North America Cannabis industry including market size and growth, price trends and competitive environment including the black market.
  • United States Cannabis market size and growth, regulation issues, market drivers, transition from illicit to legal, prices, user base, incidence of use, tax incentives, legal risks, financing issues, state metrics and characteristics, branding, derivative products, threats/opportunities to other industries.
  • Canada Cannabis industry including market size and growth, country metrics, regulation issues, comparisons with Colorado and California, black market, prices, market potential, production capacity, supply concerns, opportunities beyond cultivation, competitive environment.
  • Selected company profiles detailing product offerings, brands, facilities, operations, sales, distribution, prices, JVs, exports, expansion plans, yields, costs, patients, M&A activity, competitive advantages, strategies.

For more information about this report visit 

 

Global Cannabis-Infused Edible Products Expected To Grow +25% CAGR 2018-2022

IRELAND: Analysts forecast the Global Cannabis-Infused Edible Products Market to grow at a CAGR of 25.01% during the period 2018-2022, according to the recently published “Global Cannabis-infused Edible Products Market 2018-2022” report.

Cannabis-infused edible products comprise of liquid edible or a drinkable. It is a cannabis product that comprises cannabinoid compounds such as cannabidiol (CBD) and tetrahydrocannabinol (THC).

The report covers the present scenario and the growth prospects of the cannabis-infused edible products market. To calculate the market size, the report considers the revenue generated from the sales of cannabis-infused edible products.

The increasing number of countries decriminalizing cannabis will be a key trend driving the market growth. Several nations have decriminalized the use of marijuana both for recreational and medical purposes. In 2016, Canada legalized the use of marijuana for both recreational and medical purposes..

The growing social acceptance of cannabis will drive the market growth. The growing demand and growth of the cannabis market influences the sales and revenues of major corporations. Also, the increasing social acceptance of recreational marijuana and cannabis-infused edible products globally offers high growth opportunities to the vendors.

The report states that the lack of funds and investments in cannabis sector will impact the market growth. Numerous investment organizations decline to provide investment and loans to vendors in the legal cannabis industry. Vendors struggle to increase their profit margins due to lack of support from government organizations and high-interest rates of the private sector.

Companies Mentioned

  • Bhang Corporation
  • Cannabis Energy Drink
  • KIVA CONFECTIONS
  • Mentor Capital
  • VCC BRANDS

Global Hemp-Based Food Market 2016 – 2024

IRELAND:  The global hemp-based food market is expected to grow with a CAGR of 7.5% over the forecast period of 2018-2024, according to a new report,  “Hemp-Based Food Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024”.

The report on global hemp-based food market provides qualitative and quantitative analysis for the period of 2016 to 2024. The study on hemp-based food market covers the analysis of the leading geographies such as North AmericaEuropeAsia-Pacific and RoW for the period of 2016 to 2024.

The report on hemp-based food market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global hemp-based food market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.

Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global hemp-based food market over the period of 2016 to 2024.

2018-2024 Global Hemp-based Food Market Forecast To Grow 7.5% CAGR

IRELAND: -The “Hemp-Based Food Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024” report has been added to ResearchAndMarkets.com’s offering.

The report predicts the global hemp-based food market to grow with a CAGR of 7.5% over the forecast period of 2018-2024.

The report on hemp-based food market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global hemp-based food market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.

Porter’s Five Forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global hemp-based food market over the period of 2016 to 2024. Further, the author’s Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.

Segment Covered

The global hemp-based food market is segmented on the basis of type and applications.

Global Hemp-based Food Market by Type

  • Hemp Seed Oil
  • Whole Hemp Seed
  • Hulled Hemp Seed
  • Hemp Protein Powder
  • Others

Global Hemp-based Food Market by Applications

  • Supermarkets
  • Convenience Stores
  • Others

Company Profiles

  • Agropro
  • Hempco
  • Nutiva
  • Manitoba Harvest
  • Braham & Murray
  • GIGO Food
  • Naturally Splendid
  • Elixinol
  • Mettrum Originals
  • Jinzhou Qiaopai Biotech