Cannabis Market to Reach USD 22 Billion at 18% CAGR – Global Trends and Forecasts to 2023

Cannabis Market was estimated USD 6.5 billion in 2016 and is estimated to grow at CAGR 18% to hit more than USD 22 billion by 2023.

November 9, 2017 /MarketersMedia/ —

Individual consumers for medicinal as well as recreational uses anticipate the global cannabis market to rise significantly during the forecast period due to the rapid acceptance of cannabis. Many countries are legalizing the sale of cannabis for recreational use due to higher tax receipts generated from the marketplace.

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The cannabis industry is expected to create numerous employment opportunities for people post-legalization due to the increased consumption of the substance. Besides recreational purposes, the use of cannabis for medicinal use is also increasing at a speedy rate, as cannabis help in offering relief to patients ailing from muscular pains, seizures, and cramps. The cannabis market is ready to undergo major alterations with the ongoing digitization trend in business process models.

Complete report on Cannabis Market spread across 126 pages, profiling 10 companies and supported with tables and figures. Inquire for more at https://www.orianresearch.com/enquiry-before-buying/406244

Over 80% of illegal cannabis is consumed through inhalation. With the growing number of countries legalizing cannabis, inhalation segment will grow remarkably during the forecast period. There are various types of invaluable, solid, liquid, topical products available in the market for consumption. Legalizing cannabis for recreational use further exposes children and non-smokers to the passive consumption. Protection of laborers working in the cannabis farm is another major challenge the market faces.

The increase of the cannabis market has significantly increased the tax income for owners as well as cultivators and governments. This is used as cannabis oil market, hookahs parlor, drinking fountains, volcano vaporizers and percolated bongs, THC-infused ice cream, and pixies are benefiting from the growing cannabis market.

Several investors, retailers, and vendors are coming into strong partnerships with manufacturers and producers to provide a continuous supply of the product in compliance with the government rules to avoid legal implications. The U.S. is the largest market in the region accounted for over 95% of the market size for the North America . APAC will be the fastest-growing region in the market with a number of countries anticipated to legalize cannabis by 2023.

Key Players are American Cannabis, Canopy, Greengro, mCig, Medical Cannabis, Mentor Capital, Terra Tech, and United Cannabis.

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Key Benefit For This Report:

*This report provides current market trends and future growth expectations.
*This report examines the market size and changing competitive dynamics
*It covers information regarding key drivers, challenges or restraining market growth
*It provides a five-year forecast assessed on the basis market value chain, Porter's five forces, and supply chain management.
*Market factor analysis delivers treasured information regarding the possible purchasers and suppliers and understanding the stakeholders involved.
*This report incorporates data regarding companies and business decision by having complete insights on the markets and by creating in depth analysis of market segments.

Target Audience:

*Health care and pharmacy industries
*Clothing and textile industries
*Food and baby care industries
*Commercial research & development (R&D) institutions
*financial institutions
*Investors
*Tourist industry

Table of Content:
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Market Factor Analysis
7 GLOBAL CANNABIS MARKET BY DERIVATIVES TYPES
8 GLOBAL CANNABIS MARKET BY CONSUMPTION TYPE
9 GLOBAL CANNABIS MARKET BY USES
10 GLOBAL CANNABIS MARKET BY REGION
11 MARKET TRENDS & COMPETITIVE ANALYSIS
12 Market Trends & competitive Analysis
13 Company Profiles

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Source: MarketersMedia

Release ID: 262342