Cannabis Market Size, Segments, Share and Growth Factor Analysis Research Report 2027
The global cannabis market size is set to gain momentum owing, observes Fortune Business Insights™ in
an upcoming report, titled, “Cannabis/Marijuana Market, 2019-2026” owing to its increased use for
medicinal purposes. According to the United Nations Office on Drugs and Crime (UNODC). Cannabis have
therapeutic and medicinal benefits. As per the report, the market size was USD 10.60 billion in 2018 and
is projected to reach USD 97.35 billion by 2026, exhibiting a CAGR of 32.92% during the forecast period.
The world is facing an unprecedented challenge of the COVID-19 pandemic. Various companies have shut
down their production and distribution units due to lockdown. These manufacturing facilities instead moved
towards the manufacturing of hand sanitizers, PPE kits, and masks to fulfill the high demand from front-line
workers and common people. The world's largest pressure cooker producing company Hawkins situated in
India was adversely affected by the virus, which affected the market growth negatively.
Based on type, the weed market is divided into flower/buds and concentrates. By application is segmented
into medical, recreational and industrial hemp. In terms of geography, the market is categorized into North
America, Europe, Asia Pacific and RoW.
Salient Features of Report
The report provides an accurate assessment of the market, regions, and segments. It delivers several key
players of cannabis/marijuana producer’s strategies, drivers & restraints of the market. Additionally, it would
help our clients to accurately determine the market size to guide them in selecting the right strategy for
their business growth.
Drivers & Restraints:
Increased Demand for Recreational Purposes to Fuel Market Growth
Rising demand for cannabis-infused Candies, chocolates and beverages is driving the marijuana market
growth. The increasing trend among youngsters to use cannabis/marijuana fo