Global Cannabis Concentrate Market: Overview
Demand forcannabis concentrate is growing and from 2019 to 2027, the rate of this growthwould be stellar. One of the biggest factors of growth in the market would beadoption of medical marijuana. It is used to manage cancer, Alzheimer’s andarthritis. It is extensively used to manage chronic pain andinflammation. Besides, it is also being used in treatment and management ofepilepsy, anxiety, and depression. This is also a notable growth propeller inthe market. Legalization of marijuana use on some counties for recreationalpurposes is also pushing the globalcannabis concentrate market over the forecast period. Tax generationopportunities also look lucrative to governments, driving the market to bettertrajectory. Easy availability in the countries where it has been legalized invarious forms also goes in favor of market growth.
Global Cannabis Concentrate Market: Notable Developments
Tostrengthen market position, the players marking the fairly fragmented vendorlandscape of global cannabis concentrate market opt for numerous measures. Thispro-activeness leads to some very notable developments and even growth in themarket. One such significant development is outlined below.
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2017:Danish Cannabis ApS partnered with Canopy Growth Corporation to start a newjoint venture. It is called Spectrum Denmark ApS and it aims to improvepenetration in the European market.
Majorplayers operating in the cannabis concentrate market are:
· Aphria Inc.
· Canopy Growth Corporation
· Aurora Cannabis
· Maricann Inc.
· Organigram Holdings Inc.
· The Cronos Group
· TilrayTikun Olam, Ltd.
Playersopt for numerous growth strategies in order to beat competition and stay aheadof the curve. As can be noted from the market development mentioned above,mergers and acquisitions, and partnerships and collaborations hold a prominentplace in the overall growth strategy. Key alliances have time again providedplayers with an edge in certain markets. Additionally, research and developmentwould also be a notable determinant in the market.
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Global Cannabis Concentrate Market: Key trends and driver
The globalcannabis concentrate market is growing at a robust rate. And, numerous growthfactors are responsible for this growth. A glimpse into some of the prominentones is provided below:
· Perspective of physicians is changing in favor of use ofmarijuana in a major way. Therefore, one can note here without surprise thatthat use and prescription of a number of products is growing. This is asignificant factor of growth in the market with gummies, oils and tinctures nowbeing used.
· Social media is creating more awareness regarding use of CBD andother concentrates of cannabis. Influencers such as Rachel Brathern are widelypromoting the use for its various beneficial uses among her followers which runinto billions. This is set to increase demand substantially.
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