The global Cannabis market gathered revenue around USD 20.38 Billion in 2020 and market is set to grow USD 100.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 29.1% during the prediction period 2021 to 2027.
It is witnessing significant growth due to increasing legalization of cannabis across various regions. Also, the growth of this market can also be attributed to the increasing awareness among consumers regarding health benefits of cannabis and its growing medical application. The North America region is going to dominate the global market due to increasing legalization of cannabis for both medical and recreational purposes all over North America.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Cannabis market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Cannabis market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Cannabis market report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Scope of the Report
This report provides an all-inclusive environment of the analysis for the Cannabis Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Cannabis Market growth
Along with the market overview, which comprises of the market dynamics the chapter includes a Porter’s Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Cannabis Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Cannabis Market.
Report Highlights | Details |
Market Size | US$ 100.4 Billion by 2027 |
Growth Rate | CAGR of 29.1% From 2021 to 2027 |
Base Year | 2020 |
Historic Data | 2017 to 2020 |
Forecast Period | 2021 to 2027 |
Segments Covered | Product Type, Application,Compound |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | Canopy Growth Corporation, Aurora Cannabis Inc., MedMen, Terra Tech Corp., Aphria Inc., VIVO Cannabis Inc., The Cronos Group , Medical Marijuana Inc., STENOCARE , Tikun Olam , Organigram Holdings Inc., Cresco Labs , Indiva, Curaleaf Holding Inc., HEXO Corp., |
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
List of key Players in Cannabis Market Report are:
Canopy Growth Corporation, Aurora Cannabis Inc., MedMen, Terra Tech Corp., Aphria Inc., VIVO Cannabis Inc., The Cronos Group , Medical Marijuana Inc., STENOCARE , Tikun Olam , Organigram Holdings Inc., Cresco Labs , Indiva, Curaleaf Holding Inc., HEXO Corp., Ecofibre Limited, Harvest Health & Recreation , Green Thumb Industries, Maricann Group Inc., and TerrAscend.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product Type
By Application
By Compound
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
A unique research methodology has been utilized by Nova one advisor to conduct comprehensive research on the growth of the global Cannabis market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Nova one advisor employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals. Technical data is also gathered from intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of technology landscape, regulatory frameworks, economic outlook and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation, but also provide critical insights into the market, current business scenario and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
The key objectives of primary research are as follows:
Secondary Validation
Secondary research sources referred to by analysts during the production of the global Cannabis market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of Nova one advisor’s study on the Cannabis market as primary methods.
The study objectives of this report are:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Cannabis Market, By Product Type
7.1. Cannabis Market, by Product Type, 2021-2027
7.1.1. Flowers
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Concentrates
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Product Type3
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Other product types
7.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Cannabis Market, By Application
8.1. Cannabis Market, by Application, 2021-2027
8.1.1. Medical
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Recreational
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Cannabis Market, By Compound
9.1. Cannabis Market, by Compound, 2021-2027
9.1.1. Recreational
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Cannabidiol (CBD)-dominant
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Cannabidiol (CBD)-dominant
9.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Cannabis Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Compound (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Compound (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Compound (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Compound (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Compound (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Compound (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Compound (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Compound (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Compound (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Compound (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Compound (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Compound (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Compound (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Compound (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Compound (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product Type (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Compound (2016-2027)
Chapter 11. Company Profiles
11.1. Canopy Growth Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Aurora Cannabis Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. MedMen, Terra Tech Corp
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Aphria Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. VIVO Cannabis Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. The Cronos Group
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Medical Marijuana Inc
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. STENOCARE
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Tikun Olam
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Organigram Holdings Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms