Cannabis Products Market Scope
Cannabis Products are manufactured from cannabis (marijuana) for various purposes. Cannabis can be used for medical purposes and recreational purposes by commercial healthcare firms and individuals, respectively. Different governments are responding differently to the globalization of cannabis products and employing certain guidelines in order to lower the drug abuse regarding cannabis in certain regions.
The global market for Cannabis Products is consolidated by key players catering to rise in cannabis products usage in different fields for several health benefits. The rising players and start-ups should invest in R&D and product supply in order to gain government support and demand from the commercial firms for cannabis for growth in highly competitive market. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cannabis Products market throughout the predicted period.
Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), MedMen (United States), Terra Tech Corp. (United States), Aphria Inc. (Canada), VIVO Cannabis Inc. (Canada), The Cronos Group (Canada), Medical Marijuana Inc. (United States), Stenocare (Denmark) and Tikun Olam (Israel) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Organigrams Holding Inc. (Canada), Cresco Labs (United States), Maricann Group Inc. (Canada), Indiva (Canada) and Hexo Corp. (Canada).
Segmentation Overview
The study have segmented the market of Global Cannabis Products market by Type (Concentrates, Capsules, Leaves, Topicals and Others), by Application (Medical, Personal Use, Pharmaceuticals and Wellness) and Region with country level break-up.
On the basis of geography, the market of Cannabis Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Different Use and Benefits of Cannabis Oils have Made the Manufacturers Develop More Oil Products and Providing and Manufacturing Clean Label products with Exact Content
Market Growth Drivers:
Growth in Legalization of Cannabis and Rise in Social Acceptance of Marijuana and Rise in Usage of Cannabis for Pleasure Purpose by Individuals
Challenges:
False Narratives Associated with Cannabis Hampers the Growth
Restraints:
Complex Regulatory Structure for The Usage of Cannabis
Opportunities:
Rise in Medical Usage of Cannabis Products for Cancer Related Treatments
Market Leaders and their Expansionary Development Strategies
In 2021, Canopy Growth Corporation, a leader in cannabis product manufacturing acquired The Supreme Cannabis Company, Inc. this acquisition will complement Canopy's robust sales and distribution network as well as superior consumer insights and R&D capabilities.
In 2022, Canopy Growth Corporation unveiled a line-up of new offerings across its premium brand portfolio – 7ACRES, Ace Valley, Deep Space and Doja.This new line-up builds on the Company's continued commitment to product innovation and meeting evolving consumer demand, with select products releasing just in time for the first long weekend of the summer, including the release of its first large format premium flower offering for the recreational market, Doja 91K 14g, while cementing Canopy's leadership position in the premium flower market.
The government of Canada states the law Canada Gazette, Part 2 on June 26, 2019, which enrolls the rules and regulations regarding edible cannabis, cannabis extracts, and cannabis topicals that apply to the production, distribution, sale, importation and exportation of cannabis by federal license holders.
Key Target Audience
Cannabis Products Manufacturer, Provider/Distributor, Healthcare Firms, Commercial Vendors and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.