Cannabinoids Global Market Report 2023

“Cannabinoids Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cannabinoids market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for cannabinoids? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cannabinoids market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Cannabidiol; Tetrahydrocannabinol; Cannabinol; Other Product Types

• 2) By Distribution: Hospital Pharmacies; Retail Pharmacies; Online Stores

• 3) By Application: Medical; Recreational; Industrial Hemp

• Companies Mentioned: The Supreme Cannabis Company Inc.; Elixinol Global Limited; GW Pharmaceuticals PLC.; Tilray Inc.; Aurora Cannabis Inc.

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the cannabinoids market are: The Supreme Cannabis Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., Aurora Cannabis Inc., Canopy Growth Corporation, The Cronos Group, Mylan NV (Viatris Inc.), Alkem Labs, Organi Gram Holdings, Mile High Labs International, Global Cannabinoids, GenCanna, CBD Inc. Group, SparkCBD, Rhozo Sciences, and Maricann Inc.

The global cannabinoids market is expected to grow from $27.47 billion in 2022 to $32.94 billion in 2023 at a compound annual growth rate (CAGR) of 19.92%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cannabinoids market is expected to reach $68.38 billion in 2027 at a CAGR of 20.03%.

The cannabinoids market consists of sales of cannabidiolic acid, flowers/buds and concentrates. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Cannabinoids refer to a particular marijuana chemical that has effects similar to those of drugs across the immunological and central nervous systems. The cannabinoid is used to treat the side effects or symptoms of chronic diseases like cancer treatment.

North America was the largest region in the Cannabinoids market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the Cannabinoids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main product type of cannabinoids includes cannabidiol, tetrahydrocannabinol, cannabinol and other product types. Cannabidiol is used to treat patients suffering from seizures, anxiety, insomnia, chronic pain, and tobacco addiction. Cannabidiol refers to a chemical that is found in the cannabis sativa plant or hemp. The distribution type of cannabinoids includes hospital pharmacies, retail pharmacies and online stores. The application includes medical, recreational and industrial hemp.

The rising prevalence of chronic diseases is expected to propel the cannabinoid market. Chronic diseases refer to illnesses that last a year or longer and require ongoing medical attention. The effectiveness of cannabinoids, such as smoked marijuana, oromucosal extracts of cannabis-based medication, nabilone, dronabinol, and a new THC analogue, in the treatment of chronic noncancer pain, was examined in a systematic review of randomized controlled trials. For instance, according to the McKinsey report, it is anticipated that the US illness burden will rise by almost 20% through 2040. Furthermore, according to the Center for Disease Control and Prevention, six in ten Americans live with at least one chronic disease. As a result, the rising prevalence of chronic diseases is driving the growth of the cannabinoid market.

The rise in research and development in medical cannabinoids is the key trend gaining popularity in the cannabinoids market. Major companies operating in the market are focused on research and development of new medicinal products and treatments through trials such as custom cannabis therapy. For instance, in May 2020, Pathway Rx, a Canada-based company, developed custom cannabis therapy to treat COVID-19 patients in collaboration with the University of Lethbridge and other research companies. The study concentrated on the effects of certain cannabis extracts on the ACE2 and TMPRSS2 proteins, which serve as a crucial entry point for the COVID-19 virus to enter host cells because they are embedded in the cellular membrane. Cannabis Sativa extracts were utilized by the researchers to alter the amounts of these enzymes.

In June 2021, Canopy Growth Corporation, a Canada-based company operating in the cannabinoid market, acquired The Supreme Cannabis Company for an undisclosed amount. With this acquisition, Canopy Growth Corporation aims to strengthen its product portfolio by adding different brands of Supreme Cannabis, including 7ACRES. The Supreme Cannabis Company is a Canadian-based company engaged in producing and selling medical and recreational cannabis.

The countries covered in the Cannabinoids market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The cannabinoids protection market research report is one of a series of new reports from The Business Research Company that provides cannabinoids market statistics, including cannabinoids industry global market size, regional shares, competitors with a cannabinoids market share, detailed cannabinoids market segments, market trends and opportunities, and any further data you may need to thrive in the cannabinoids industry. This cannabinoids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.