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North America Cannabis Market Overview
The cannabis market has shown rapid growth in the past few years owing to the rapid demand increase for cannabis and related products. Market Research Future, which specializes in market reports related to the consumer and retail sector among others, recently published a report on this market. Expansion of the North American cannabis market size is estimated with a CAGR of 33% in the forecast period from 2016 to 2021.
Medical uses of cannabis are one of the major uses that have driven the demand for the market, especially in North America. The legalization of cannabis in many of the North American countries has led to the creation of further demand and enhanced the growth potential of the North American cannabis market Size outlook. Furthermore, the introduction of different cannabis included products has led to an expansion of the market size significantly. The utilization of cannabis to treat various medical ailments has been beneficial to the progress of the sector.
Global Competitive Analysis
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 a 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 North American cannabis market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
Major players in the North America cannabis market include:
to name a few of the market players…
North America cannabis market Segmental Analysis
The North America cannabis market overview 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, clothing & textile among others
The 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. is the largest market in the region was valued at over USD 3 billion and is anticipated to grow at a CAGR of over 30% between 2016 and 2021.
Access Complete Report @ https://www.marketresearchfuture.com/reports/cannabis-market-950
Industry Updates News:
Jan 2018 Tokyo Smoke merged with DOJA Cannabis Company Ltd., a Kelowna B.C.-based licensed producer, to create a new company, Hiku Brands Company Ltd., which was listed on the Canadian Securities Exchange recently. Tokyo Smoke of TS Brandco Holdings Inc had been attempting previously to maneuver into carefully cultivating a cannabis-cantered lifestyle brand leading up to recreational legalization in the country.
Jan 2018 Canopy Ventures, the new investment arm of a Boulder-based cannabis accelerator is raising a new pool of cash to help early-stage companies that have survived their start-up pains grow to the next level. They are launching a $50 million venture fund that will focus on tech-based cannabis companies. The accelerator, since its inception in 2015, has invested seed-stage capital in 73 companies, several of which have gone through its accelerator program. This new fund will help finance more mature, so-called growth stage companies.
Jan 2018 MedReleaf Corp announced recently that it has entered an arrangement with Canaccord Genuity Corp. and GMP Securities L.P. to buy, on a bought deal basis 3,800,000 units of the company at $26.50 per share for aggregate gross proceeds of $100.7 million. MedReleaf plans on using the net proceeds to fund the acquisition and/or construction of further cannabis production and manufacturing facilities in Canada as well as in other jurisdictions with federal legal markets.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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