· The cannabis market is expected to witness market to reach at an estimated value of USD 36.4 billion by 2028 and grow at a CAGR of 23.50% in the forecast period of 2021 to 2028.
§ Cannabis refers to a tall plant with a stiff upright stem that is basically utilized as a drug and is being legalized for its medical usage. Medical cannabis is defined as the plant-derived psychotropic drugs used 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 capsules, and oils, among others.
§ The increase in the health consciousness across the region acts as one of the major factors driving the growth of cannabis market. The rise in number of people suffering from chronic illnesses, such as Parkinson's, Alzheimer's, and cancer, among other neurological disorders, and increase in demand for cannabis oil among countries with legalized medical marijuana accelerate the market growth.
Industry Segmentation
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.
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The countries covered in the Middle East and Africa cannabis market report are
ü UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Industry Share Analysis
The major players covered in the cannabis market report are
ü 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.
Ø Chapter One: Introduction
Ø Chapter Two: Industry analysis
Ø Chapter Three: Market Overview
Ø Chapter Four: Industry segmentation
Ø Chapter Five: Industry share analysis
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