The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest cannabis products market share, and Middle East was the fastest-growing region in 2022.

The global cannabis products market is expected to grow from $35 billion in 2022 to $42.15 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. The cannabis products market is expected to grow from $100.63 billion in 2027 at a CAGR of 24.3%.

Major Driver In The Cannabis Products Market ­– Growth In Medical Applications Of Cannabis
According to Harvard Health, around 85% of Americans supported medicinal marijuana legalisation, and at least several million Americans used it.

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Key Cannabis Products Market Segments
1) By Product Type: Flower, Concentrates, Other Product Types
2) By Usage: Medical, Recreational
3) By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD
4) By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Other Route Of Administrations

Recent Cannabis Products Market Trend – Adopting Solar Cannabis Cultivation
Cannabis product manufacturing firms are investing in solar cannabis growing since cannabis production demands a huge amount of energy for lighting, heating, air conditioning, and dehumidification systems. This is mostly due to the legalisation of cannabis products in several jurisdictions across the United jurisdictions, which is boosting energy usage and driving cannabis manufacturers to opt for solar cannabis production. Aurora, for example, purchased 71 acres of land in Medicine Hat, Alberta, and built a high-tech hybrid greenhouse cannabis manufacturing plant.

Cannabis Products Market Prominent Players
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.

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The Cannabis Products Global Market Report 2023  provides a comprehensive overview on the cannabis products market size, trends and drivers, opportunities, strategies, and companies analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cannabis products are cannabis that has been subjected to a procedure that converts the plant material into a concentrate, such as concentrated cannabis, or an edible or topical product combining cannabis or concentrated cannabis plus additional drugs. It is widely used recreationally and has a number of medical applications, including the treatment of headaches, nausea, and vomiting.

View More Related Reports –
Cannabis Testing Global Market Report 2023
Cannabis Cultivation Global Market Report 2023
Cannabis Extract Global Market Report 2023

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