Fortune Business Insights™ published a premium research report on the cannabis market titled “Cannabis Market Size, Research | Marijuana Industry Growth 2026” is projected to reach USD 97.35 billion by the end of 2026 at will exhibit a CAGR of 32.92% during the forecast period, 2019-2026.
Cannabis has mental and physical impacts, for example, making a “high” or “stoned” feeling, a general change in discernment, elevated state of mind, and an expansion in hunger. The beginning of impacts is felt inside minutes when smoked, and around 30 to an hour when cooked and eaten. The impacts keep going for two to six hours. Transient reactions may remember a decline for momentary memory, dry mouth, hindered engine abilities, red eyes, and sentiments of suspicion or tension.
Long haul antagonistic impacts may incorporate habit, diminished mental capacity in the individuals who began normal use as young people, interminable hacking, powerlessness to respiratory contaminations, and conduct issues in youngsters whose moms utilized cannabis during pregnancy. There is a solid connection between cannabis use and the danger of psychosis, however, the circumstances and logical results are discussed.
List of leading companies that are operating in the global cannabis market includes;
- Aurora Cannabis
- Aphria Inc.
- Canopy Growth Corporation
- MedReleaf Corp.
- Cronos Group Inc.
- GW Pharmaceuticals, plc.
- CannTrust Holdings Inc.
- VIVO Cannabis Inc.
- OrganiGram Holdings
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The report encompasses several factors that have constituted the growth of the global market in recent years. It summarizes the key industry developments and gauges the impact of these developments on the market. It highlights key aspects of the market, with primary focus on leading products, major applications, and companies. The competitive landscape has been discussed in detail.
Additionally, the report provides forecast values for the medical cannabis market for the period of 2019-2026. Factual figures are obtained through trusted sources. The data provided in this report is gathered through opinions and interviews of world leaders and experienced market research professionals.
Increasing Investment in Product R&D to Aid Growth
The factors that have made a huge impact on the market have been discussed in the report. The benefits of cannabis have drawn the attention of several investors across the world. The increasing emphasis on the development of newer products, infused with cannabis will encourage several competitors to deviate from their core business and invest in medical cannabis. The legalization of cannabis in major countries across the world will emerge in favor of market growth.
In March 2019, Altria Group invested a whopping USD 1.8 billion in Cronos Group Inc. The company aims to compete, scale, and lead the global market and in doing so, establish a strong market presence. Such huge upfront investment will not only help the company but will also have a direct impact on the growth of the market in the coming years.
North America Dominates the Market; Legalization of Cannabis in Several States Will Open Up a Huge Potential
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America has emerged as the dominant region in recent years. Colorado and Washington DC were the first two states to legalize the use of recreational cannabis in the world. Several states have now legalized the use of recreational cannabis, as a result of which, the medical marijuana market will witness several market entrants in the coming years.
Browse Summary of Research Report at https://www.fortunebusinessinsights.com/industry-reports/cannabis-marijuana-market-100219
Key Industry Developments:
January 2019: The Colombian Medical Federation and Aphria announced a new alliance wherein they would develop a new academic curriculum on the medical benefits of recreational cannabis.
August 2018: Hexo Corp, announced a collaboration with Molson Coors Canada for the production of a new range of CBD-infused beverages.
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