Chicago, June 07, 2024 (GLOBE NEWSWIRE) -- Cannabis Market Insights

The global cannabis market size is poised for significant growth, with a projected CAGR of 24.3% from 2022 to 2027, reaching a value of $82.3 billion by 2027. This growth is attributed to factors like increasing legalization, rising medical applications, growing social acceptance, and technological advancements.

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Hypothetical Top Growth Areas

• Cannabis-infused edibles: Edibles offer a discreet and controlled consumption method, attracting new users and driving market expansion.
  
  
• CBD-dominant products: The therapeutic benefits of CBD are fueling demand for CBD-infused products like edibles, beverages, and oils.
  
  
• Advanced cultivation techniques: Technologies like precision irrigation and optimized lighting can improve efficiency, sustainability, and product consistency.

Futuristic Scope

• Integration with pharmaceuticals: Development of cannabis-based medications for various conditions can revolutionize healthcare.
  
  
• Personalized medicine: Tailored cannabis products based on individual needs and genetic makeup could become a reality.
  
  
• Technological disruption: Advancements in areas like AI and genetic engineering can further revolutionize cultivation, processing, and product development.

Market Drivers

• Growth in R&D activities: Technological innovations are optimizing cultivation, product development, and delivery methods.
  
  
• Rising medical applications: Cannabis is gaining traction for treating various conditions like chronic pain, anxiety, and epilepsy.
  
  
• Growing social acceptance: The stigma associated with cannabis is declining, leading to wider consumer acceptance.

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Key Segments and Sub Segments

• Product Type: Flowers, Concentrates, Edibles, Topicals & Tinctures
• Application: Medical, Recreational
• Compound: THC-dominant, CBD-dominant, Balanced THC & CBD
• Region: North America, South America, Europe, Rest of the World (RoW)

Top Players in the Industry

• Canopy Growth Corporation (Canada)
• Aurora Cannabis Inc. (Canada)
• Tilray Inc. (US)
• Trulieve (US)
• HEXO Corp. (Canada)
• Medmen Enterprises Inc. (US)
• Several other established and emerging players

High Growth Opportunities

• Development of low-dose edibles: This caters to new users seeking the medical benefits without psychoactive effects.
• Expansion of cannabis-infused beverages: Offers convenient and socially acceptable consumption options.
• Focus on sustainable cultivation practices: Minimizing water consumption and environmental impact can enhance brand image.

Cannabis Regional Analysis

• North America: Dominant market due to widespread legalization and high recreational demand (especially in the US).
• Europe: Growing market with increasing medical cannabis legalization and research activities.
• South America: Emerging market with potential for future growth, but legalization hurdles remain.
• Rest of the World: Limited market presence, with legalization primarily focused on medical use.

This report is a valuable resource for:

• Cannabis growers and product manufacturers
• Cannabis importers, exporters, and distributors
• Investors and other stakeholders in the cannabis industry
• Government and research organizations
• Regulatory bodies and industry associations

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