Increasing Application of Medicinal Cannabis to Promote Cannabis Market Growth - PowerPoint PPT Presentation

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Increasing Application of Medicinal Cannabis to Promote Cannabis Market Growth

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The increasing use of medicinal marijuana is creating lucrative growth opportunities for the global cannabis market says Fortune Business Insights in their new study. The study is titled, “Cannabis Market: Global Market Analysis, Insights, and Forecasts, 2018 to 2026”. This report includes expert opinion from trusted sources and focusses on major factors driving and restricting the growth of the market during the forecast period, 2018 to 2026. – PowerPoint PPT presentation

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Date added: 30 August 2019
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Title: Increasing Application of Medicinal Cannabis to Promote Cannabis Market Growth


1
The increasing use of medicinal marijuana is
creating lucrative growth opportunities for the
global cannabis market says Fortune Business
Insights in their new study. The study is titled,
Cannabis Market Global Market Analysis,
Insights, and Forecasts, 2018 to 2026. This
report includes expert opinion from trusted
sources and focusses on major factors driving and
restricting the growth of the market during the
forecast period, 2018 to 2026. According to
Fortune Business Insights, the global cannabis
market is anticipated to reach a value of US
97.35 Bn by the end of 2026 from US 10.60 Bn in
2018. The market is predicted to rise at a CAGR
of 32.6 during the forecast period of 2019 to
2026. According to the report, hemp flower,
commonly known as bud, accounts for the
majority of the global cannabis market share in
terms of product type. On the other hand,
concentrates based out of marijuana are leading
the global market in terms of product type. The
higher penetration and better availability of
these products boosts the market in developed
nations, leading to a significant consumer
base. Increasing Application of Medicinal
Cannabis to Promote Cannabis Market Growth The
rising awareness about medicinal properties of
marijuana is a key factor driving the global
cannabis market. Marijuana can help to cure
disorders such as Alzheimers disease, epilepsy,
anorexia, chronic pain, arthritis, and other
medical conditions. Besides this, the rising
legalization of marijuana in several countries of
the world is boosting the market
globally. However, the growth trajectory of the
market could be bumpy on account of the complex
regulatory structure observed in several
countries and restrictions on cannabis use in
many parts of the world. In addition to this,
the declining price of marijuana in the market as
the products are getting increasingly
commoditized, may also cause hindrance to the
market growth in the forecast period. Neverthele
ss, many companies operating in the hemp market
are investing increasingly in the research and
development of novel products for delivery
solutions. This is anticipated to create
lucrative growth opportunities for the global
cannabis market in the coming years. North
America Market to Remain Dominant on Account of
Legalization of Medical Marijuana Geographically
, the global cannabis market is anticipated to be
dominated by North America owing to the
government-supported medical marijuana laws
imposed in the U.S. In 2012, Washington and
Colorado in the U.S. were the first two cities to
legalize the use of cannabis for recreational
purpose. As of July 2019, about eleven states and
District of Columbia in the United States have
legalized the use of cannabis for medicinal
purpose. On the other hand, Canada is also
playing a major role in the booming market of
marijuana as it recently emerged as a
flag-bearer country in marijuana legalization for
recreational purpose. The fact that marijuana
can help treat medical conditions such as
arthritis, chronic pain, post-trauma conditions,
Alzheimers disease, epilepsy, anorexia, and
others is anticipated to help the cannabis
market in North America in the coming years.
2
Introduction of Innovative Cannabis Products to
Intensify Market Competition The global cannabis
market is highly competitive on account of the
presence of many players, and the introduction
of new players into the market. The rising
popularity of recreational marijuana and its
usage at a wider level has further intensified
the competition among vendors. Additionally, the
switching preferences from the hemp bud or flower
to the much- processed forms such as tropical
products, oils, and other edibles are promoting
market players to come up with more innovative
products and thereby maintain a strong foothold
in the market. Some of the players operating in
the global cannabis market are Canopy Growth
Corporation, VIVO Cannabis Inc., OrganiGram
Holdings, Aurora Cannabis, GW Pharmaceuticals,
plc., Tilray, CannTrust Holdings Inc., MedReleaf
Corp, Aphria Inc., Cronos Group Inc., and
others. About Us Fortune Business Insights
offers expert corporate analysis and accurate
data, helping organizations of all sizes make
timely decisions. We tailor innovative solutions
for our clients, assisting them to address
challenges distinct to their businesses. Our goal
is to empower our clients with holistic market
intelligence, giving a granular overview of the
market they are operating in. Our reports
contain a unique mix of tangible insights and
qualitative analysis to help companies achieve
sustainable growth. Our team of experienced
analysts and consultants use industry-leading
research tools and techniques to compile
comprehensive market studies, interspersed with
relevant data. At Fortune Business Insights, we
aim at highlighting the most lucrative growth
opportunities for our clients. We, therefore,
offer recommendations, making it easier for them
to navigate through technological and
market-related changes. Our consulting services
are designed to help organizations identify
hidden opportunities and understand prevailing
competitive challenges.
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