North America Cannabis Market Value Over USD 3.5 Billion and anticipated to grow at CAGR 33% During Forecast Period 2015 to 2021
May 8, 2019
North America Cannabis market Information Legal Growth Rate, Industry Size Analysis by Demand, Value Share by Derivatives (Marijuana/Flowers, Industrial Hemp, Other Concentrates/Products), by application type (Applications of Marijuana, Applications of Hemp) Forecast from 2016 to 2021
May 8, 2019 /MarketersMedia/ —
Market Overview:
Cannabis Market of North America not only is the market projected to grow by leaps and bounds, but it has already been targeted by industry insiders. The market size of cannabis stood over USD 3.5 billion in 2015 which is expected to expand at a CAGR over 33% over the period of 2016 to 2021, the MRFR Scholar assures us while commenting on this remarkable study report - “North America Cannabis Market” published by Market Research Future.
Cannabis also popularly referred as Marijuana which is a derivative of the Cannabis plant intended to use as a psychoactive drug or medicine. The main psychoactive part of cannabis is tetrahydrocannabinol (THC). There is also a physio active part of Cannabis; known as Cannabidiol (CBD). Unlike THC, the CBD part doesn’t get you high and have medicinal effects. It is typically used for health reasons instead of for recreational purposes.
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Top Key Players:
Canadian Cannabis Corporation,
Plandai Biotechnology.,
Tweed Marijuana Inc,
Affinor Growers.,
Cannabis Sativa Inc,
Cannavest,
Canna Brands Inc,
Omnicanna Health Solutions.,
Privateer Holdings, Inc,
Arena Pharmaceuticals, Inc.
Market Key Trends:
A trend of volume-driven growth has been witnessed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The industry players in the segment are efficiently utilizing their primary resources to initiate long lasting growth changes. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
Regional Update:
Cannabis market in North America was over USD 3.5 billion in 2015. This industry was mainly operating in the black market; however, with developments in the medical applications of the derivatives such as marijuana and hemp this market experienced significant growth over the past few years. Presently, the cannabis market is not a bare collaboration of the growers or producers of marijuana and hemp; it is rather a conglomerate of science and technology. The U.S. being the largest market in the region was valued over USD 3 billion and is anticipated to grow at a CAGR over 30% between 2016 and 2021.
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North America Cannabis Market Segments:
The North America Cannabis Market is categorized on the following basis:
Based on Derivatives: Industrial Hemp and Marijuana/Flowers, Other Concentrates/Products which include Keif, Hash, Hash Oil Etc.
Based on Applications Type: Based on applications the market is segmented into applications of marijuana into medicinal applications, recreational applications and others and applications of hemp into food and baby care.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Address: Office No. 524/528, Amanora Chambers, Magarpatta Road, Hadapsar, Pune - 411028, Maharashtra, India
Phone: +16468459312
Website: https://www.marketresearchfuture.com/reports/cannabis-market-industry-950
Source: MarketersMedia
Release ID: 510360
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