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The cannabis products market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of 23%, as per The Business Research Company’s market report!

Read More On The Cannabis Products Market Report 2022 – https://www.thebusinessresearchcompany.com/report/cannabis-products-global-market-report

The Cannabis Products Market Size In 2022 And Forecast

The global cannabis products market is expected to grow from $28.0 billion in 2021 to $35.0 billion in 2022 at a compound annual growth rate (CAGR) of 25.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The cannabis products market is expected to reach $80.0 billion in 2026 at a CAGR of 23.0%

The cannabis products market consists of sales of cannabis products and related services. Cannabis is a psychoactive drug which is obtained from the cannabis plant of the cannabaceae family.

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Growth In Applications Of Cannabis In The Medical Field Is Driving The Growth Of The Cannabis Products Market

According to Harvard Health, around 85% of Americans supported legalizing medical marijuana, and at least several million Americans were using it.

Competitive Landscape And The Regional Analysis Of The Cannabis Products Market

Major players in the cannabis products market are Canopy Growth Corporation, Aphria Inc, Aurora Cannabis, Cara Therapeutics, GW Pharmaceuticals PLC, Maricann Group, Tilray, The Cronos Group, Tikun Olam and United Cannabis Corporation.

Additionally, as per TBRC’s research – North America was the largest region in the cannabis products market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.

The Cannabis Products Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cannabis products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the cannabis products market.

Solar Cannabis Cultivation – A Key Trend In The Cannabis Products Market

As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis products manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalizing cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation.

Cannabis Products Market Segmentation By The Business Research Company

1) By Product Type: Flower, Concentrates, Others

2) By Usage: Medical, Recreational

3) By Compound: THC-Dominant, CBD-Dominant, Balanced THC and CBD

4) By Route of Administration: Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, Others

Here Are Some Reports Related To The Cannabis Products Market –

Luxury Cigars Global Market Report 2022

E-Cigarettes Global Market Report 2022

Cannabis Testing Global Market Report 2022

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