High Times: Cannabi*s Products Market Forecast 2024-2033

The Cannabi*s products market size has grown exponentially in recent years. It will grow from $50.96 billion in 2023 to $63.75 billion in 2024 at a compound annual growth rate (CAGR) of 25.1%. The growth in the historic period can be attributed to Cannabi*s advocacy and activism, research and scientific discoveries, consumer trends and preferences, early market entrants, policy and legal frameworks.

The Cannabi*s products market size is expected to see exponential growth in the next few years. It will grow to $159.93 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to supply chain dynamics, international market expansion, investment and funding patterns, regulatory developments, market competition and consolidation. Major trends in the forecast period include legislation and legalization, health and wellness, innovation and product diversity, consumer education and awareness, celebrity and brand endorsements.

Market Overview -
Cannabi*s products refer to Cannabi*s that has undergone a process that turns the plant material into a concentrate, such as, but not limited to, concentrated Cannabi*s, or an edible or topical product containing Cannabi*s or concentrated Cannabi*s and other substances. It is frequently used as a recreational drug and has several medical applications, including the treatment of migraines, nausea, and vomiting.

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Medical Applications Of Cannabi*s Drive Cannabi*s Products Market
The growing medical applications of Cannabi*s are a significant driver for the Cannabi*s products market. Cannabi*s is a drug that comes from Indian hemp plants such as Cannabi*s sativa andCannabi*s indica, with (delta-9 tetrahydrocannabinol) being the main active chemical in it. Cannabi*s has several medical applications in conditions such as nausea and vomiting, glaucoma, epilepsy, and asthma. Hence, many countries have legalized the use of Cannabi*s for medical applications despite it being a psychoactive drug. Medical applications of Cannabi*s include treating cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, AIDS, Alzheimer's disease, and Parkinson's disease. According to Harvard Health, around 85% of Americans supported legalizing medical marijuana, and at least several million Americans were using it.

Competitive Landscape -
Major companies operating in theCannabi*s products market report are Sprott Inc., Medical Marijuana Inc., Jazz Pharmaceuticals plc, Tilray Inc., Canopy Growth Corporation, LivWell Enlightened Health LLC, Organigram Holdings Inc., Aphria Inc., Aurora Cannabi*s Inc., Medicine Man Technologies Inc., Insys Therapeutics Inc., MedMen Enterprises Inc., Stenocare A/S, Cronos Group Inc., The Valens Company Inc., Jushi Holdings Inc., Columbia Care Inc., Cara Therapeutics Inc., VIVO Cannabi*s Inc., Terra Tech Corp., United Cannabi*s Corporation, Tikun Olam Ltd., Noya Inc., The Scotts Miracle-Gro Company, Wayland Group Corp., Cannabi*s Sativa Inc., ABcann Medicinals Inc., CanniMed Therapeutics Inc., Lexaria Bioscience Corp., Cannabi*s Science Inc.

Solar-Powered Cannabi*s Cultivation A Sustainable Approach In The Expanding Cannabi*s Market
Solar Cannabi*s cultivation is an emerging trend in the Cannabi*s product market. As Cannabi*s cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, Cannabi*s product manufacturing companies are investing in solar Cannabi*s cultivation. This is mainly a result of the legalization of Cannabi*s products in various states of the USA, which is continuously increasing the consumption of energy and leading Cannabi*s manufacturers to opt for solar Cannabi*s cultivation. For instance, Aurora acquired 71 acres of land in Medicine Hat, Alberta, and installed a high-technology hybrid greenhouse Cannabi*s production facility.

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Key Segments -

The Cannabi*s products market covered in this report is segmented -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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