Tetrahydrocannabinol-Dominant Segmentto Register Highest CAGR in Cannabis Market during Forecast Period
According to ournew market research study of “CannabisMarket to 2027 – Global Analysis and Forecast by Product Type, Compound and Application,” the market is expected to reach US$ 147,457.4 million by 2027 from US$ 14,383.8 million in 2019; it is estimated to grow at a CAGR of 29.1% from 2020 to 2027. The report highlights trends prevailing in the global cannabis market along with drivers and hindrances pertaining to the market growth.
Click To Get Sample Copy of Report @ https://www.premiummarketinsights.com/sample/TIP00010709
Based on compound, the global cannabis market is segmented into tetrahydrocannabinol-dominant (THC-dominant), cannabidiol-dominant (CBD-dominant), and balanced THC and CBD. In 2019, the THC-dominant segment held the largest share of the market. However, the market for the CBD-dominant cannabis is anticipated to witness fastest CAGR during 2020–2027.THC has many additional medical benefits. According to a mice study published in 2016, it can assist in improving memory when taken in small doses.
The growth of the global cannabis market is as attributed to the legalization of medical cannabis;growing medicinal applications of cannabis;andincreasing awareness about medical cannabis through conferences, symposia, and workshops. Additionally, the growing demand of cannabis during the ongoing COVID-19 pandemic is likely to have a positive impact on the market in the coming years.
Aphria, Inc.; Aurora Cannabis; Cannabis Science, INC; Canopy Growth Corporation; Medical Marijuana, Inc; VIVO Cannabis Inc.; Tikun Olam;Terra Tech Corp.;Tilray; and The Cronos Group are among the leading companies operating in the cannabis market.
Cannabis Market, By Region, 2019 (% share)
Interested in purchasing this Report? Click here @ https://www.premiummarketinsights.com/buy/TIP00010709
The report segments global Cannabis market as follows:
By Product Type
- Pain Management
- Neurological Health Management
- Mental Health Management
- Tetrahydrocannabinol (THC)-Dominant
- Cannabidiol (CBD)-Dominant
- Balanced THC and CBD
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South & Central America (SCAM)
Contact Person: Sameer Joshi
Email Id: [email protected]
About Premium Market Insights:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost effective research reports and solutions from various publishers. We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider.