Global Cannabis Market at high CAGR of 34.7 % by 2026 with Top Key Players

Posted by swamiv on November 4th, 2019

Global Cannabis markets By Product Type (Buds, Oil, Tinctures, Others), Usage (Medical, Recreational), Crop Variety (Cannabis Indica, Cannabis Sativa, Others), Distribution Channel (Physical, Digital, Others)

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Cannabis is a type of drug that is obtained from plants such as cannabis indica and cannabis sativa. The active chemical present in the plant is tetrahydrocannabinol (THC). Cannabis plant has several medical as well as recreational usages. In medical, cannabis is reported to treat nausea, vomiting, chronic pains, asthma and many more diseases.

Global cannabis market is projected to register a healthy CAGR of 34.7% in the forecast period of 2019 to 2026.

Segmentation: Global Cannabis Market

Global Cannabis markets is segmented into four notable segments which are based on the basis of product type, usage, crop variety and distribution channel.

•          On the basis of product type, the market is segmented into buds, oil, tinctures and others

o    In December, Health Canada awarded Aurora Cannabis Inc. with the license that permits sale of cannabis softgel capsules. This license helped the company to increase its international sales and also to generate revenue by launching these capsules to the medical cannabis market in Canada as well as the adult-use market.

•          On the basis of usage, the market is segmented into medical an            d recreational

o    In April 2019, Aphria Inc. launched a new product into the cannabis market namely CBD-based nutraceutical and CBD-based cosmetics line especially for the German market. The product was launched by the CannRelief brand of the company as they are popular in the German market and can help the company increase its market share globally.

•          On the basis of crop variety, the market is segmented into cannabis indica, cannabis sativa and others

o    In November 2017, CanniMed Ltd. announced the acquisition of Cannabis Inc. The company created a new global cannabis company with this agreement between a medical brand and recreational brand. The strategic acquisition made by the company will help it to become a key player in the emerging recreational cannabis market.

•          On the basis of distribution channel, the market is segmented into physical, digital and others

o    In July 2019, Aruma Labs Holdings Pty Limited will commence the construction of its manufacturing facility for the production of industry-leading equipment and technology. The company is into the business of cultivation and will start the manufacturing of products soon.

Competitive Analysis: Global Cannabis Market

Some of the major players operating in this market are O.penVAPE Shop., The Cronos Group, Tilray, Marley Natural, Aurora Cannabis, Cara Therapeutics, ARUMA LABS HOLDINGS PTY LIMITED, Medcan Australia, Sundial Growers Inc., Canopy Growth Corporation, GW Pharmaceuticals plc, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek and others.

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