The cannabis market is expected to witness market growth at a rate of 29.1% in the forecast period of 2021 to 2028. Data Bridge Market Research report on cannabis market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of functional food sector is escalating the growth of cannabis market.
Additionally, the credible Asia-Pacific Cannabis Market report helps the manufacturer in finding out the effectiveness of the existing channels of distribution, advertising programs, or media, selling methods and the best way of distributing the goods to the eventual consumers. Taking up such market research report is all the time beneficial for any company whether it is a small scale or large scale, for marketing of products or services. It makes effortless for Food and Beverage industry to visualize what is already available in the market, what market anticipates, the competitive environment, and what should be done to surpass the competitor.
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Cannabis is referred to as a tall plant with a stiff upright stem that is widely used as a drug and is being legalized for its medical usage. Medical cannabis refers to as the plant-derived psychotropic drugs that is utilized for treating various medical ailments. The product is sourced from sativa and hybrid cannabis plants, cannabis indica, and the active ingredients include tetrahydrocannabinol (THC) and cannabidiol (CBD). The products are manufactured in the form of oils and capsules, among others.
An international Asia-Pacific Cannabis Market research report examines competitive companies and manufacturers in the global market. Competitive analysis carried out in this market report puts forth the moves of the key players in the Food and Beverage industry such as new product launches, expansions, agreements, joint ventures, partnerships, and recent acquisitions. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. It studies market by product type, applications and growth factors.
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The cannabis market is segmented on the basis of product type, compound, crop variety, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of product type, the cannabis market is segmented into flowers, concentrates and other product types. Other product types are further segmented into capsules, topicals, edibles, and beverages.
· On the basis of compound, the cannabis market is segmented into Tetrahydrocannabinol (THC)-dominant, Cannabidiol (CBD)-dominant and Balanced THC and CBD.
· On the basis of crop variety, the cannabis market is segmented into cannabis indica, cannabis sativa, and others.
· On the basis of application, the cannabis market is segmented into medical and recreational.
· On the basis of distribution channel, the cannabis market is segmented into physical, digital and others.
Market Country Level Analysis
· The countries covered in the Asia-Pacific cannabis market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, and the Rest of Asia-Pacific.
· China dominates the Asia-Pacific cannabis market owning to the vast plantation of cannabis and high investments in the region.
An influential Asia-Pacific Cannabis Market research report displays an absolute outline of the market that considers various aspects such as product definition, customary vendor landscape, and market segmentation. Currently, businesses are relying on the diverse segments covered in the market research report to a great extent which gives them better insights to drive the business on the right track. The competitive analysis brings into light a clear insight about the market share analysis and actions of the key industry players. With this info, businesses can successfully make decisions about business strategies to accomplish maximum return on investment (ROI).
The major players covered in the cannabis market report are
· Tilray, Marley Natural, Aurora Cannabis, Cara Therapeutics, ARUMA LABS HOLDINGS PTY LIMITED, Medcan Australia, Sundial Growers Inc., Canopy Growth Corporation, GW Pharmaceuticals plc, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek, O.penVAPE Shop., and The Cronos Group, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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