"The quality and transparency maintained in the large scale Recreational Cannabis Market business report makes gain the trust and reliance of member companies and customers. This market research report best suits the requirements of the client. For an effectual business growth, companies must adopt market report service which has become quite vital in this rapidly changing marketplace. The report also provides list of the chief competitors and provides the strategic insights and analysis of the key factors influencing the industry. This market research report categorizes the market by companies, region, type and end-use industry. The winning Recreational Cannabis Market report is sure to help enhance sales and improve return on investment (ROI).
The use of well-established tools such as SWOT analysis and Porter’s Five Forces analysis are very useful in creating such superior Recreational Cannabis Market survey report. The report presents market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. Recreational Cannabis Market report also puts light on historic data, present market trends, future products environment, marketing strategies, technological innovation, upcoming technologies, emerging opportunities, and the technical progress in the related industry.
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Even though cannabis was once considered illegal in many countries, it is now legal to use in several economies, including cannabis as medical and recreational cannabis to treat various medical conditions. It has reportedly been used to treat patients with Parkinson's, Alzheimer's, Parkinson's-related and chemotherapy-related nausea, and other neurological diseases. According to some studies, cannabis derivatives are now being accepted by the FDA and other organizations for treating diseases where they have shown promise. Cannabis is largely accepted for recreational food and beverage products.
Data bridge market research analyses that the recreational cannabis market, valued at USD 1,780.45 million in 2022, will reach USD 2,902.66 million by 2030, growing at a CAGR of 6.3% from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Recreational Cannabis Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Product Type (Oils Tinctures, Transdermal Patches, Isolates Tablets, Flower, Concentrates, Edibles, Topicals, Tinctures, Others), Distribution Channel (Online, Offline), Species (Cannabis Indica, Cannabis Sativa, Hybrid) Compound (THC-Dominant, CBD-Dominant, Balanced THC, CBD), Application (Chronic Pain, Mental Disorders, Cancer, Others), Administration (Oral, Topical, Inhalation, Rectal, Sublingual), End Use (Pharmaceuticals, Food, Beverages, Tobacco, Personal Care, Research and Development Centres) |
Countries Covered | U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA) |
Market Players Covered | AURORA CANNABIS INC (Canada), Cannabis Science Inc.(U.S.), Medical Marijuana, Inc.(U.S.), STENOCARE A/S (Denmark), CannabisNL (U.S.), Controlled Environments Limited (Canada), The Cronos Group (Canada), Maricann Inc (Canada), Tikun Olam (Israel), ,Canopy Growth Corporation (Canada), TerrAscend (Canada), VIVO Cannabis Inc.(Canada), Harvest Health & Recreation, Inc (U.S.), Curaleaf Holdings Inc. (U.S.), HEXO Corp. (Canada), INDIVA. (Canada), Cresco Labs (U.S.), Organigrams Holding Inc. (Canada), Trulieve (U.S.) |
Market Opportunities |
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Market Definition
Cannabis, more commonly referred to as marijuana, is an herbal remedy derived from plants of the Cannabis genus and is used to treat a wide range of symptoms and illnesses, including cancer, chronic pain, and mental disorders. The two main cannabinoids (THC and CBD) derived from this plant that has medicinal applications. Recreational marijuana is also the most widely used drug that alters consciousness. Recreational marijuana is frequently smoked as a dry, shredded mixture of flowers, stems, seeds, and leaves in green and brown. Recreational marijuana can be consumed as a blunt, pipe or bong, or cigarette (joint).
Recreational Cannabis Market Dynamics
Drivers
- The pharmaceutical industry is seeing a growing demand for cannabis for recreational use
Cannabis is a drug that is produced using the cannabis sativa, cannabis indica, and hybrid strains. The two main cannabinoids that are most effective are tetrahydrocannabinol (THC), a psychoactive cannabinoid, and cannabidiol (CBD). The growing acceptance of recreational cannabis in various medical settings is anticipated to drive the cannabis market. Recreational cannabis has many health advantages in treating conditions such as epilepsy, anxiety, cancer, acne, diabetes, and others. The rise in demand for recreational marijuana by the pharmaceutical industry because of its therapeutic properties is one of the primary drivers of the medical and recreational cannabis industries.
- Legalizing cannabis for non-medical purposes can boost the market growth
With the legalization of cannabis, people can now use drugs without risk and take advantage of their therapeutic effects. As a result, many countries are gradually legalizing the use of cannabis. At the same time, it is still illegal in most countries. As the laws governing its use and sale have become more relaxed over time, cannabis use for recreational purposes has become increasingly popular worldwide. This has helped the recreational cannabis industry as a whole to grow. Through the substantial demand for cannabis use for recreational purposes, this market segment is already outpacing all others. The market for cannabis used for recreational purposes could grow significantly if it were made legal.
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Table of Contents for a Recreational Cannabis Market Research Article:
- Introduction
- Background and Overview
- Objective of the Study
- Scope of the Recreational Cannabis Market Research
- Methodology
- Data Collection
- Data Analysis
- Research Approach
- Sampling Techniques
- Research Instruments
- Executive Summary
- Key Findings
- Recreational Cannabis Market Overview
- Recreational Cannabis Market Trends and Insights
- Recreational Cannabis Market Overview
- Recreational Cannabis Market Definition
- Recreational Cannabis Market Segmentation
- Recreational Cannabis Market Size and Growth Rate
- Recreational Cannabis Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porter's Five Forces Analysis
- Recreational Cannabis Market Trends and Insights
- Emerging Technologies
- Consumer Behavior and Preferences
- Regulatory Landscape
- Competitive Analysis
- Recreational Cannabis Market Segmentation
- Product Type
- Application
- Region
- End-User
- Other Relevant Segments
- Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Competitive Landscape
- Recreational Cannabis Market Share Analysis
- Key Players Profiles
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments
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