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Market survey Insights on Global Cannabis Market

Cannabis is one of the flowering plants in the family Cannabacease. It is also referred to as Marijuana. It is an illegal plant in many countries.On behalf of global market research nowadays, more and more people refer to it as a weed. It is generally consumed for its relaxing and calming effects. It is also prescribed to help in a range of medical conditions, which includes chronic pains, glaucoma, and poor appetite in the US. Industry <br>

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Market survey Insights on Global Cannabis Market

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  1. Market survey Insights on Global Cannabis Market

  2. Cannabis is one of the flowering plants in the family Cannabacease. It is also referred to as Marijuana. It is an illegal plant in many countries.On behalf of global market research nowadays, more and more people refer to it as a weed. It is generally consumed for its relaxing and calming effects. It is also prescribed to help in a range of medical conditions, which includes chronic pains, glaucoma, and poor appetite in the US. Industry • Market research shows that various product types of cannabis are capsules, concentrates, edibles, and other products. Primary applications include medical and recreational. Increasing utilization of cannabis for pain, neurological health, and mental health management is driving its demand in medical areas. • Development of cannabis via varied research initiatives, data collection services, novel product delivery solutions, government spendings, and its legalization in few countries is creating lucrative growth opportunities for this market. Research and analysis show that 10% of regular cannabis users become dependent on it and increases the instances of developing a psychotic illness.

  3. According to the prediction by the best market research comapny, the global spendings on cannabis is foreseen to reach a value of USD323 Bn by 2022. An estimate by a market research executive shows that it will reach a value of USD39.4 Bn by 2023, growing at CAGR of 30.7% during the forecasted years 2019-2023. • Various end-use industries include medical, pharmaceuticals, wellness& beauty, packaging, agriculture, e-commerce, billboard advertising, food, and others. • An estimate by Billboard Insider reveals that the rise of the cannabis industry can generate as much as USD3 Bn in advertising demand by 2025. • Canada was the second country for legalized cannabis for adult use in Oct 2018. Market survey shows that the current average price for illegal cannabis is USD8.24 per gram in Canada. • Data Collection Company in primary research reveals that 18% of the Americans who consume marijauana are between the age group of 18 to 29. • As stated by Forbes, Germany is predicted to be the leader in the European cannabis market, and with USD1.2 Bn sales by 2027, Italy is expected to be second.

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