Cannabis Market to Exhibit 32.6% CAGR; Legalization of Medical Marijuana in Most Countries to Propel Growth, Says Fortune Business Insights

Key Companies Covered in the Cannabis Market Research Report are Canopy Growth Corporation, VIVO Cannabis Inc., OrganiGram Holdings, Aurora Cannabis, GW Pharmaceuticals, plc., Tilray, CannTrust Holdings Inc., MedReleaf Corp, Aphria Inc., Cronos Group Inc., and others

PUNE, India, Aug. 29, 2019 /PRNewswire/ -- The increasing use of medicinal marijuana is creating lucrative growth opportunities for the global Cannabis Market says Fortune Business Insights in their new study. The study is titled, "Cannabis Market: Global Market Analysis, Insights, and Forecasts, 2018 to 2026". This report includes expert opinion from trusted sources and focusses on major factors driving and restricting the growth of the market during the forecast period, 2018 to 2026.

According to Fortune Business Insights, the global Cannabis Market is anticipated to reach a value of US$ 97.35 Bn by the end of 2026 from US$ 10.60 Bn in 2018. The market is predicted to rise at a CAGR of 32.6% during the forecast period of 2019 to 2026.

Browse Complete Report Details with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/cannabis-mark ...

According to the report, hemp flower, commonly known as 'bud,' accounts for the majority of the global Cannabis Market share in terms of product type. On the other hand, concentrates based out of marijuana are leading the global market in terms of product type. The higher penetration and better availability of these products boosts the market in developed nations, leading to a significant consumer base.

Increasing Application of Medicinal Cannabis to Promote Cannabis Market Growth

The rising awareness about medicinal properties of marijuana is a key factor driving the global Cannabis Market. Marijuana can help to cure disorders such as Alzheimer's disease, epilepsy, anorexia, chronic pain, arthritis, and other medical conditions. Besides this, the rising legalization of marijuana in several countries of the world is boosting the market globally.

However, the growth trajectory of the market could be bumpy on account of the complex regulatory structure observed in several countries and restrictions on cannabis use in many parts of the world. In addition to this, the declining price of marijuana in the market as the products are getting increasingly commoditized, may also cause hindrance to the market growth in the forecast period.