DUBLIN--(BUSINESS WIRE)--The "North America Cannabis Market: Focus on Product Type, Medical Application, Distribution Channel, Countries Data (U.S. and Canada) and Competitive Landscape - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
The North America cannabis market was valued at $13.21 billion in 2018 and is expected to reach $36.7 billion in 2025
High demand among consumers for safer forms of ingesting cannabis such as tinctures, oils, vapes, and other edibles, coupled with rising investment from both public and private sectors for research and development activities are all together expected to positively reinforce the growth of the market during the forecast period between 2019 and 2025.
Increasing legalization of cannabis in both Canada and U.S. is the most prominent factor contributing to the growth of the North America cannabis market. North America holds the strongest potential among all other regions of the world for the growth of the cannabis industry and offers lucrative opportunities for the entry of new companies into the market.
As the countries of North America begin to liberalize laws related to the recreational and medical use of cannabis, more companies are expected to enter into this market in order to address the surging demand for cannabis products. High public and private investments in this sector are further propelling research related to cannabis products, actively driving the growth of the market.
However, the market is also witnessing significant challenges that hinders its growth. Although cannabis is legal in the countries of North America for both medical and recreational use, its cultivation, production, distribution, and possession are highly controlled under strict regulations.
Moreover, the risk of side effects associated with the use of cannabis hampers its adoption rate, thereby hampering the growth of the market. However, with progressing research activities, safer forms of cannabis products are expected to come up in the market in the upcoming years that offer prospects for the market growth in the years to come.
Furthermore, increasing launch of online platforms promoting cannabis products and the paradigm shift toward e-commerce sales of cannabis offer huge opportunities that are expected to drive the growth of the North America cannabis market during the forecast period between 2019 and 2025.
This report is a meticulous compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors.
The report also profiles 10 companies including several key players, such as Aphria, Inc., Aurora Cannabis Inc., Canopy Growth Corporation, CannTrust Holdings Inc., Cronos Group Inc., Curaleaf Holdings, Inc., Cresco Labs, Inc., Terra Tech Corp., Tilray, Inc., and Trulieve Cannabis Corp.
- The number of companies operating in this market has increased exponentially over the past few years owning to the huge demand for both medical and recreational cannabis in North America. Synergic strategies involving agreements, partnerships, and collaborations were the most common strategies adopted by the key players of the market in order to sustain in the market competition.
- Several research studies have demonstrated the benefits of cannabis in treating a wide range of medical conditions ranging from pain management to the treatment of cachexia. Among the various medical applications of cannabis, pain management segment contributed to the highest revenue and dominated the market in 2018. High efficiency of cannabis in reducing pain associated with different types of medical conditions, such as cancer, arthritis, cerebral palsy, and muscular dystrophy, aided in the growth of the medical cannabis market pertaining to pain management.
- By distribution channel, retail sales dominated the market in 2018 as it has been the preferred mode of sale of cannabis products among consumers of North America. However, e-commerce sales are expected to witness a much higher CAGR of 22.89% during the forecast period from 2019 and 2025. Increasing launch of online platforms by key companies of the cannabis market promoting e-commerce sales of cannabis is expected to propel the growth of the cannabis market by e-commerce sales.
- In the U.S., the most common cannabis product categories include flower, concentrates, and edibles. Among theses four product categories, flower form of cannabis dominated the cannabis market of U.S. in 2018. However, edibles were expected to witness the highest CAGR during the forecast period between 2019 and 2025.
Key Topics Covered:
1 Market Overview
1.3 Legalization of Cannabis
1.4 Global Cannabis Market: Key Insights
1.5 North America Cannabis Market
1.5.1 Assumptions and Limitations
2 Market Dynamics
2.2 Impact Analysis
2.3 Market Drivers
2.3.1 Rising Demand and Increasing Legalization of Cannabis
2.3.2 Ease of Availability of Cannabis Plant
2.3.3 Wide Range of Benefits for both Medical and Recreational Use
2.4 Market Challenges
2.4.1 Stringent Regulation and Lengthy Approval Process
2.4.2 Side Effects Associated with Cannabis Consumption
2.4.3 High Cost and Complex Distribution Channel
2.5 Market Opportunities
2.5.1 Continuing Research for Development of Safer Forms of Cannabis
2.5.2 Shifting Trend of Cannabis Industry Toward Online Platform
3 Competitive Landscape
3.1.1 Collaborations, and Partnerships
3.1.2 Mergers and Acquisitions
3.1.3 Business Expansion
3.1.4 Product Launches
3.1.5 Awards and Recognitions
4 Industry Insights
4.1 Canada Legal Landscape
4.1.1 Cannabis Framework and Legislation by Provinces and Territories
22.214.171.124 British Colombia
126.96.36.199 Newfoundland and Labrador
188.8.131.52 Northwest Territories
184.108.40.206 New Brunswick
220.127.116.11 Nova Scotia
18.104.22.168 Prince Edward Island
4.2 U.S. Legal Landscape
4.2.1 U.S. Federal Laws Impacting Cannabis Market
4.2.2 U.S. State Laws Impacting Cannabis Market
4.2.3 Medical Cannabis Laws
22.214.171.124 CBD/Limited Laws
126.96.36.199 Recreational Laws
5 North America Cannabis Market (by Product)
5.2 Recreational Cannabis
5.3 Medical Cannabis
5.3.2 Pain Management
5.3.3 Muscle Spasm
5.3.6 Nausea and Vomiting
5.3.7 Other Medical Applications
6 North America Cannabis Market (by Distribution Channel)
7 North America Cannabis Market (by Country)
8 Company Profiles
- Aphria, Inc.
- Aurora Cannabis Inc.
- Canopy Growth Corporation
- CannTrust Holdings Inc.
- Cronos Group Inc.
- Curaleaf Holdings, Inc.
- Cresco Labs, Inc.
- Terra Tech Corp.
- Tilray, Inc.
- Trulieve Cannabis Corp.
For more information about this report visit https://www.researchandmarkets.com/r/jt8ea3