Industry Analysis
The cannabis market is expected to witness market growth at a rate of 29.1% in the forecast period of 2021 to 2028. Data Bridge Market Research report on cannabis market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of functional food sector is escalating the growth of cannabis market. Cannabis is referred to as a tall plant with a stiff upright stem that is widely used as a drug and is being legalized for its medical usage. Medical cannabis refers to as the plant-derived psychotropic drugs that is utilized for treating various medical ailments. The product is sourced from sativa and hybrid cannabis plants, cannabis indica, and the active ingredients include tetrahydrocannabinol (THC) and cannabidiol (CBD). The products are manufactured in the form of oils and capsules, among others.
Asia-Pacific Cannabis Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter’s five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.
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Market Insights and Scope
The rise in the health consciousness across the region acts as one of the major factors driving the growth of cannabis market. The increase in demand for cannabis oil among countries with legalized medical marijuana and rise in number of people suffering from chronic illnesses, such as Parkinson's, Alzheimer's, and cancer, among other neurological disorders accelerate the market growth. The surge in in the medical applications of cannabis and active research genetic development and modification of the plant further influence the market. Additionally, surge in disposable income, growth in awareness regarding the benefits of the product, rise in social acceptance of marijuana, change in lifestyle, rapid urbanization, and increase in legalization of cannabis positively affect the cannabis market. Furthermore, product development through research and novel product delivery solutions extend profitable opportunities to the market players in the forecast period of 2021 to 2028. On the other hand, myths associated with cannabis and complex regulatory structure for the usage of cannabis are expected to obstruct the market growth. The issues with the maintenance of product consistency for the cultivation of cannabis and intensive energy consumption are projected to challenge the cannabis market in the forecast period of 2021 to 2028.
For effective business outlook, an all-inclusive Asia-Pacific Cannabis Market report covers different global regions such as North America, Latin America, Asia-pacific, Europe, and India on the basis of productivity of the various industries. This document gives details about global market overview, global market competition by manufacturers, type and application, top players in the market, regional analysis with respect to volume, value and sales price, analysis of global market by manufacturer, cost analysis, industrial chain, sourcing strategy and downstream buyers, marketing strategy analysis, distributors or traders, and market effect factors analysis.
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Industry Segmentation and Size
The cannabis market is segmented on the basis of product type, compound, crop variety, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the cannabis market is segmented into flowers, concentrates and other product types. Other product types are further segmented into capsules, topicals, edibles, and beverages.
- On the basis of compound, the cannabis market is segmented into Tetrahydrocannabinol (THC)-dominant, Cannabidiol (CBD)-dominant and Balanced THC and CBD.
- On the basis of crop variety, the cannabis market is segmented into cannabis indica, cannabis sativa, and others.
- On the basis of application, the cannabis market is segmented into medical and recreational.
- On the basis of distribution channel, the cannabis market is segmented into physical, digital and others.
Market Country Level Analysis
- The countries covered in the Asia-Pacific cannabis market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, and the Rest of Asia-Pacific.
- China dominates the Asia-Pacific cannabis market owning to the vast plantation of cannabis and high investments in the region.
Industry Share Analysis
- The major players covered in the cannabis market report are Tilray, Marley Natural, Aurora Cannabis, Cara Therapeutics, ARUMA LABS HOLDINGS PTY LIMITED, Medcan Australia, Sundial Growers Inc., Canopy Growth Corporation, GW Pharmaceuticals plc, The Scotts Company LLC, Aphria Inc., VIVO Cannabis Inc., Cannatrek, O.penVAPE Shop., and The Cronos Group, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Asia-Pacific Cannabis Market Report Answers the Following Questions:
- What is the current size of the Asia-Pacific Cannabis Market?
- What are the key drivers and challenges for the Asia-Pacific Cannabis Market?
- What are the different types of Asia-Pacific Cannabis Market?
- What are the leading companies operating in the Asia-Pacific Cannabis Market?
- What is the future outlook for the Asia-Pacific Cannabis Market?
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