Recreational Cannabis Global Market Report 2023 – By Product (Oils, Transdermal Patches, Tablets, Capsule, Vape, Suppositories, Tinctures, Creams, Edibles, Other Products ), By Compound (Tetrahydrocannabinol (THC) Dominant, Cannabidiol (CBD) Dominant, Balanced Tetrahydrocannabinol (THC)), By Administration (Oral, Topical, Inhalation, Rectal, Sublingual), By Application (Chronic Pain, Cancer, Mental Disorder, Sleep Management, Other Applications), By End Users (Pharmaceuticals, Food, Beverages, Tobacco, Personal care, Research and Development Center) – Market Size, Trends, And Global Forecast 2023-2032

Cannabis extract refers to a compound that comes from the cannabis plant called cannabidiol (CBD). Typically, it is an oil, that manufacturers add to various products, such as creams and lotions, and people use CBD extract as a treatment for a range of diseases. The main type of cannabis extract are oils and tinctures. Oils in the cannabis extract market refer to an oleoresin that is extracted from cannabis such as hemp and marijuana plant. The main types of extracts are full spectrum extracts and cannabis isolates sourced from hemp and marijuana. The cannabis extract are distributed through hospital pharmacies, retail pharmacies, and online pharmacies to be used in textile, cosmetic, pharmaceutical, and paper industry. The global cannabis extract market is segmented - 1) By Product Type: Oils, Tinctures 2) By Extract Type: Full Spectrum Extracts, Cannabis Isolates 3) By Sources: Hemp, Marijuana 4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies 5) By Application: Textile, Cosmetic, Pharmaceutical, Paper The global cannabis extract market size is expected to grow from $6.99 billion in 2022 to $8.49 billion in 2023 at a compound annual growth rate (CAGR) of 21.51%. 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 market size of the cannabis extract market is expected to reach $18.25 billion in 2027 at a CAGR of 21.08%. The increase in prevalence of chronic diseases is expected to propel the cannabis extract market. Chronic diseases are illnesses that last a year or longer and require ongoing medical attention. The cannabis extract is effective in the treatment of chronic noncancer pain. 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 increasing prevalence of chronic diseases is driving the cannabis extract market. Major players in the cannabis extract market are Canopy Growth Corporation, Tikun Olam, Aurora Cannabis Inc., Aphria Inc., Tilray Inc., Maricann Inc., The Cronos Group, Peridot Labs, Cannabis Science Inc., Terra Tech Corp., MedMen, Teva Pharmaceutical Industries Ltd., Organa Brands, Dabble Extracts, GW Pharmaceuticals PLC., and Organigram Holdings Inc. Collaboration is the key trend gaining popularity in the cannabinoids market. Major companies operating in the market are collaborating with each other to sustain in the market. For instance, in May 2020, Pathway Rx, a Canada-based company, created a personalized cannabis therapy in collaboration with the University of Lethbridge and other research businesses to treat COVID-19 patients. The study focused on the effects of specific cannabis extracts on the ACE2 and TMPRSS2 proteins, which are embedded in cellular membranes and act as a major entrance point for the COVID-19 virus to enter host cells. The level of these enzymes was changed by the researchers using cannabis sativa extracts. In January 2022, BevCanna Canada-based comprehensive health and wellness beverage and natural products company acquired Embark Health Inc. for an undisclosed amount. With this acquisition, BevCanna will diversify its portfolio of distinctive brands, contribute important intellectual property, and expand its portfolio of adult-use cannabis products. Embark is a Canada-based company that manufactures a variety of topicals, edibles, liquid and powder beverage mixes, and cannabis concentrates. North America was the largest region in the cannabis extract market in 2022. The regions covered in the cannabis extract market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the Cannabis Extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA. The cannabis extract market consists of sales shatter, wax and hash. 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. 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 cannabis extract market research report is one of a series of new reports from The Business Research Company that provides cannabis extract market statistics, including cannabis extract industry global market size, regional shares, competitors with a cannabis extract market share, detailed cannabis extract market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis extract industry. This cannabis extract 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.

Medical marijuana refers to the derivatives of the cannabis sativa plant. It is used to treat drug addiction issues or as a substitute for alcohol and other substances such as opiates and cocaine, including situations such as pain management, nausea and vomiting control, and pain relief. The main types of medical marijuana products are dried flower and extract form. The dried flower medical marijuana is used to cure certain mental and physical illnesses or reduce their symptoms. The dried flower medical marijuana is the smokable, trichome-rich portion of a cannabis plant that is often used in a cannabis product. The main forms of medical marijuana are flower, concentrate, edibles, and other types. The medical marijuana is used for pain management, tourette syndrome, alzheimer's disease, migraines, depression and anxiety, multiple sclerosis, cancer, and other applications that are distributed through retail pharmacy, e-commerce, and other distribution channels. The global medical marijuana market is segmented - 1) By Product: Dried Flower, Extract Form 2) By Type: Flower, Concentrate, Edibles, Other Types 3) By Application: Pain Management, Tourette Syndrome, Alzheimer's disease, Migraines, Depression And Anxiety, Multiple Sclerosis, Cancer, Other Applications 4) By Distribution Channel: Retail Pharmacy, E-Commerce, Other Distribution Channels The global medical marijuana market size is expected to grow from $22.69 billion in 2022 to $27.40 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. 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 global medical marijuana market size is expected to reach $57.80 billion in 2027 at a CAGR of 20.5%. The increasing prevalence of cancer is expected to drive the demand for the medical marijuana market going forward. Cancer refers to the condition when a few of the body's cells grow out of control and spread to other bodily regions. Medical marijuana helps treat cancer patients with neuropathy, nausea, pain, vomiting, appetite, and weight loss. For instance, in April 2022, according to a report on cancer facts and figures by the American Cancer Society, a US-based nonprofit health organization devoted to the eradication of cancer,, there were 1.92 million new cases of cancer in the US, compared to 1.89 cases in 2021. Therefore, the increasing prevalence of cancer will drive the growth of the medical marijuana market. Major players in the medical marijuana market are Canopy Growth Corporation, MedReleaf, Aphria Incorporation, Aurora Cannabis, Medical Marijuana Inc., Tilray Medical, Emerald Health, Green Relief, VIVO Cannabis Inc., Tikun Olam, GB Sciences Inc., Pfizer, MediPharm Labs, ABcann Medicinals, Cara Therapeutics, CanniMed Ltd., and The Cronos Group. The strategic partnership is a key trend gaining popularity in the medical marijuana market. Major players in the medical marijuana sector are focused on strategic partnerships to expand their market and leverage each other's resources. For instance, in December 2021, Teva Pharmaceutical, an Israel-based pharmaceutical company partnered with Tikun Olam-Cannbit, an Israel-based company engaged in the research associated with medical cannabis products. The partnership aims to produce certain medical cannabis products administered as oils and will be marketed by Teva Israel to patients in Israel. Furthermore, in January 2022, Trulieve Cannabis Corp., a US-based cannabis company expanded its partnership with Connected Cannabis Co, a US-based premier cannabis cultivator. The expanded partnership aims to maintain a portfolio of proprietary top-shelf strains. In May 2021, Jazz Pharmaceuticals, an Ireland-based biopharmaceutical company acquired GW Pharmaceuticals plc for an undisclosed amount. Through this acquisition, Jazz Pharmaceuticals' commercial portfolio and innovative pipeline are further diversified with medications that are complementary to its current business. GW Pharmaceuticals is a UK-based company engaged in developing and commercializing cannabinoid-based prescription medicines. North America was the largest region in the medical marijuana market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global medical marijuana market during forecast period. The regions covered in the medical marijuana market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical marijuana market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical marijuana market consists of sales of cartridges, concentrates, flower and extracts. 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. 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 medical marijuana market research report is one of a series of new reports from The Business Research Company that provides medical marijuana market statistics, including medical marijuana industry global market size, regional shares, competitors with a medical marijuana market share, detailed medical marijuana market segments, market trends and opportunities, and any further data you may need to thrive in the medical marijuana industry. This medical marijuana 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.

Cannabis products refer to cannabis that has undergone a process that turns the plant material into a concentrate, such as, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other substances. It is frequently used as a recreational drug and has several medical applications, including the treatment of migraines, nausea, and vomiting. The main types of products are flowers, concentrates, and others. The smokable section of the cannabis plant, also known as the bud or nug, is referred to as the flower, bud, or nug. THC-dominant, CBD-dominant, and balanced THC and CBD compounds are available and can be used for both medical and recreational purposes. The various routes of administration include oral solutions and capsules, smoking, vaporizers, topicals, and others. The global cannabis products market is segmented - 1) By Product Type: Flower, Concentrates, Other Product Types 2) By Usage: Medical, Recreational 3) By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD 4) By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Other Route Of Administrations The global cannabis products market size grew from $35 billion in 2022 to $42.15 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. 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 market size of the cannabis products is expected to grow from $100.63 billion in 2027 at a CAGR of 24.3%. The growing medical applications of cannabis are a significant driver for the cannabis products market. Cannabis is a drug that comes from Indian hemp plants such as Cannabis sativa and Cannabis indica, with THC (delta-9 tetrahydrocannabinol) being the main active chemical in it. Cannabis has several medical applications in conditions such as nausea and vomiting, glaucoma, epilepsy, and asthma. Hence, many countries have legalised the use of cannabis for medical applications despite it being a psychoactive drug. Medical applications of cannabis 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 legalising medical marijuana, and at least several million Americans were using it. Major players in the cannabis products market are Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Cara Therapeutics, GW Pharmaceuticals PLC., Maricann Group, Tilray, The Cronos Group, Tikun Olam, and United Cannabis Corporation. The presence of several legal norms related to the use and possession of cannabis is an important restraint on the cannabis products market. These norms include regulations of the Food and Drug Administration (FDA) as well as rules set up by the governments of each state in the USA. The FDA reviews all applications of cannabis products for their safety and effectiveness. Despite having laws allowing cannabis businesses, many states in the USA still do not allow such businesses. For instance, Los Angeles, San Francisco, San Jose, and San Diego have laws allowing cannabis businesses, but 80% of California’s nearly 500 municipalities do not allow retail marijuana businesses. Solar cannabis cultivation is an emerging trend in the cannabis product market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis product manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalising cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation. For instance, Aurora acquired 71 acres of land in Medicine Hat, Alberta, and installed a high-technology hybrid greenhouse cannabis production facility. The government of California regulates the safety of manufacturing cannabis under the California Code of Regulations, Title 17, Division 1. It states that every manufacturer of cannabis products should obtain a valid licence issued by a state cannabis licencing agency. To obtain an annual licence for cannabis manufacturing, the manufacturer should submit the physical address of the manufacturing premises and a written security plan. The security plan should include measures to prevent access of unauthorised people to the manufacturing premises and the loss or theft of cannabis and cannabis products. Hence, it is expected to maintain a vigil on the manufacturing of cannabis in the coming years. In May 2020, Aurora Cannabis Inc., a Canada-based cannabinoid company, acquired Reliva, LLC., for an undisclosed amount. Through this acquisition, Aurora and Reliva will be able to build a market-leading international cannabinoid platform, and they will be able to offer stable revenue and enhanced profitability. Reliva, LLC., is a US-based company and a pacesetter in delivering high-quality hemp-derived CBD products to consumers. North America was the largest region in the cannabis products market in 2022. The Middle East is expected to be the fastest-growing region in the global cannabis products market share during the forecast period. The regions covered in the global cannabis products market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cannabis products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The cannabis products market consists of sales of cannabis vape products, cannabis edibles, cannabis topicals, and cannabis oral products. 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. 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 organisations 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 chain or as part of other products. The cannabis products market research report is one of a series of new reports from The Business Research Company that provides cannabis products market statistics, including cannabis products industry global market size, regional shares, competitors with a cannabis products market share, detailed cannabis products market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis products industry. This cannabis products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Cannabis refers to the analysis of an individual sample of cannabis that is examined to determine tetrahydrocannabinol, cannabidiol, and terpene levels, as well as impurities such as residual solvents, mold, pests, disease, or pesticide residue. The cannabis test is used to relieve stress, muscle pain, nausea, and vomiting. The main test types for cannabis testing are potency testing, pesticide screening, residual solvent screening, heavy metal testing, terpene testing, mycotoxin testing, and others. Instruments refers to the instruments used to test cannabis products. The different technologies include chromatography, spectroscopy, and others and involve several portability types, such as stand-alone, handheld devices. These are employed in testing laboratories, drug manufacturers, research institutes, and other end users. The global cannabis testing market is segmented - 1) By Test Type: Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing, Other Test Types 2) By Technology: Chromatography, Spectroscopy, Other Technologies 3) By Portability: Standalone, Hand Held Devices 4) By End User: Testing Laboratories, Drug Manufacturers, Research Institutes, Other End Users The global cannabis testing market size grew from $2.1 billion in 2022 to $2.49 billion in 2023 at a compound annual growth rate (CAGR) of 18.3%. 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 market size of the cannabis testing is expected to grow to $4.78 billion in 2027 at a CAGR of 17.8%. The growing usage of cannabis as a medicinal product is expected to propel the growth of the cannabis testing market going forward. Cannabis is used to relieve tension and muscle problems, as well as to lessen nausea and vomiting following chemotherapy. As a result, the use of cannabis as a therapeutic substance is increasing. Cannabis also calms epileptic seizures in the brain and has the beneficial effect of damping down seizure intensity. For instance, in 2022, according to the World Health Organization, among the 147 million world population, 2.5% of people consumed cannabis. Therefore, the growing usage of cannabis as a medicinal product drives the growth of the cannabis testing market. Major players in the cannabis testing market are Agilent Technologies Inc., Shimadzu Corporation, DigiPath Inc., Steep Hill Inc., SC Laboratories, PharmLabs LLC, Waters Corporation, CW Analytical Laboratories Inc., PerkinElmer Inc., Restek Corporation, Ab Sciex LLC, Danaher Corporation, Praxis Labs, Phenomenex, and Anresco Labs. Strategic partnerships have emerged as the key trend gaining popularity in the cannabis testing market. Major companies operating in the cannabis testing market are undergoing partnerships to strengthen their position. For instance, in November 2020, Shimadzu Scientific Instruments, a Japan-based manufacturer of cannabis testing instruments, partnered with McCann Testing, a US-based medical cannabis testing lab. Through this partnership, Shimadzu would supply MoCann with instruments and support MoCann testing efforts with training, method development, and maintenance. Moreover, in March 2022, Digipath Inc., a US-based cannabis testing laboratory, partnered with CASPR Technologies, a Nigeria-based provider of smart environmental indoor technology for healthcare. Through this partnership, Digipath will test and validate the efficacy of CASPR’s technology in botanical applications, specifically for cannabis and hemp. In December 2020, Kennebec Analytical Services, a US-based company that provides full-service analytical testing and consulting, acquired Cannabis Testing Laboratories (CTL) from Doane University for an undisclosed amount. Through this acquisition, the combined offerings of KAS and CTL are expected to expand full-service testing and consultation services in Nebraska. This would allow them to meet each client's business goals, from harvesting to processing, as this is essential to drive product development and marketing, as well as meet state and federal regulatory guidelines. Doane University Cannabis Testing Laboratories (CTL) is a US-based wholly-owned subsidiary of parent firm Doane University that has established itself as Nebraska's first cannabis testing lab which provides cannabis testing. North America was the largest region in the cannabis testing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabis testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cannabis testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The cannabis testing market includes revenues earned by entities by cannabinoid profile & potency analysis, heavy metal screening, mycotoxin screening, molds & mildews, pesticides & herbicides and residual solvents. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. 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 cannabis testing market research report is one of a series of new reports from The Business Research Company that provides cannabis testing market statistics, including global market size, regional shares, competitors with a cannabis testing market share, detailed cannabis testing market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis testing industry. This cannabis testing 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.

Cannabis cultivation refers to the establishment of one or more cannabis plants or any part of them in any location, whether indoors or out, including inside a completely enclosed and secure building. It also includes harvesting, drying, processing, curing, grading, trimming, packaging, or storing the plants or any part of them. The main types of cannabis cultivation are cannabis indica and cannabis sativa. Cannabis indica refers to a classification of marijuana, known for its relaxing and therapeutic qualities. The different sources include flowers or buds, leaves, and other sources, that are used in medical consumption, recreational consumption, and industrial consumption. The global cannabis cultivation market is segmented – 1) By Type: Cannabis Indica, Cannabis Sativa 2) By Source: Flower or Buds, Leaves, Other Sources 3) By Application Outlook: Medical Consumption, Recreational Consumption, Industrial Consumption The global cannabis cultivation market size will grow from $133.49 billion in 2022 to $155.66 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. 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 cannabis cultivation market size is expected to grow to $286.89 billion in 2027 at a CAGR of 16.5%. Adoption of cannabis for the treatment of chronic diseases is expected to propel the growth of the cannabis cultivation market going forward. Chronic disease refers to a medical condition that lasts for a year or longer and necessitates continuing medical care and restricts daily activities. Adoption of cannabis for the treatment of chronic diseases helps cannabis cultivation by demonstrating safety, efficacy, and consistency sufficient for regulatory approval in spasticity in chronic diseases such as multiple sclerosis, and Dravet and Lennox-Gastaut Syndromes. For instance, in March 2022, according to the data published in the annual report of Jazz Pharmaceuticals plc, an Ireland-based biopharmaceutical company, the company generated a net sale of $463.6 million for Epidiolex, in 2021, with a year-on-year sales growth of 29% as compared to previous year i.e., 2020. Therefore, the adoption of cannabis for the treatment of chronic diseases is driving the cannabis cultivation market. Major players in the market are Pacific Cannabis Growers Inc., Atlas Growers, Canntrust Holdings Inc., The Hydropothecary Corporation, Better Holdings, Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Tilray, Organigram Holdings Inc., The Cronos Group, Maricann Group Inc., ABcann Medicinals Inc., GW Pharmaceuticals plc, and Vivo Cannabis Inc. Product innovations are a key trend gaining popularity in the cannabis cultivation market. Major companies operating in the market are focused on developing innovative products to strengthen their position in the market. For instance, in January 2022, Prospiant, a US-based controlled environment agriculture (CEA) greenhouse solutions and cannabis cultivation and extraction technologies provider, launched Delta Ethanol Extraction CUP-5 to specifically meet the requirements of prototype labs, educational research centers, and small-scale cannabis processing facilities. During the process of cannabis cultivation, it can handle plant material in batches as small as 3.5 pounds and finish the extraction process in 2 to 12 minutes. It combines mechanical centrifugation with closed-loop cold alcohol extraction technology to produce a high-purity final product. Its innovative features also include the ability to operate without a C1D2 environment or a hazardous location (HazLoc) requirement. In June 2021, Canopy Growth, a Canada-based, cannabis company, acquired Supreme Cannabis Company Inc for a deal amount of $435 million. With this acquisition, Canopy Growth aims to strengthen its position in the Canadian market, by providing premium differentiated products to the consumers. Supreme Cannabis Company, Inc is a Canada-based company involved in the production and sale of medical and recreational cannabis. Asia-Pacific was the largest region in the cannabis cultivation market in 2022. The regions covered in the cannabis cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cannabis cultivation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The cannabis cultivation market includes revenues earned by entities by hemp and marijuana. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. 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 cannabis cultivation market research report is one of a series of new reports from The Business Research Company that provides cannabis cultivation market statistics, including cannabis cultivation industry global market size, regional shares, competitors with a cannabis cultivation market share, detailed cannabis cultivation market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis cultivation industry. This cannabis cultivation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Cannabis products refer to cannabis that has undergone a process that turns the plant material into a concentrate, such as, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other substances. It is frequently used as a recreational drug and has several medical applications, including the treatment of migraines, nausea, and vomiting. The main types of products are flowers, concentrates, and others. The smokable section of the cannabis plant, also known as the bud or nug, is referred to as the flower, bud, or nug. THC-dominant, CBD-dominant, and balanced THC and CBD compounds are available and can be used for both medical and recreational purposes. The various routes of administration include oral solutions and capsules, smoking, vaporizers, topicals, and others. The global cannabis products market is segmented - 1) By Product Type: Flower, Concentrates, Other Product Types 2) By Usage: Medical, Recreational 3) By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD 4) By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Other Route Of Administrations The global cannabis products market size grew from $35 billion in 2022 to $42.15 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. 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 market size of the cannabis products is expected to grow from $100.63 billion in 2027 at a CAGR of 24.3%. The growing medical applications of cannabis are a significant driver for the cannabis products market. Cannabis is a drug that comes from Indian hemp plants such as Cannabis sativa and Cannabis indica, with THC (delta-9 tetrahydrocannabinol) being the main active chemical in it. Cannabis has several medical applications in conditions such as nausea and vomiting, glaucoma, epilepsy, and asthma. Hence, many countries have legalised the use of cannabis for medical applications despite it being a psychoactive drug. Medical applications of cannabis 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 legalising medical marijuana, and at least several million Americans were using it. Major players in the cannabis products market are Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Cara Therapeutics, GW Pharmaceuticals PLC., Maricann Group, Tilray, The Cronos Group, Tikun Olam, and United Cannabis Corporation. The presence of several legal norms related to the use and possession of cannabis is an important restraint on the cannabis products market. These norms include regulations of the Food and Drug Administration (FDA) as well as rules set up by the governments of each state in the USA. The FDA reviews all applications of cannabis products for their safety and effectiveness. Despite having laws allowing cannabis businesses, many states in the USA still do not allow such businesses. For instance, Los Angeles, San Francisco, San Jose, and San Diego have laws allowing cannabis businesses, but 80% of California’s nearly 500 municipalities do not allow retail marijuana businesses. Solar cannabis cultivation is an emerging trend in the cannabis product market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis product manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalising cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation. For instance, Aurora acquired 71 acres of land in Medicine Hat, Alberta, and installed a high-technology hybrid greenhouse cannabis production facility. The government of California regulates the safety of manufacturing cannabis under the California Code of Regulations, Title 17, Division 1. It states that every manufacturer of cannabis products should obtain a valid licence issued by a state cannabis licencing agency. To obtain an annual licence for cannabis manufacturing, the manufacturer should submit the physical address of the manufacturing premises and a written security plan. The security plan should include measures to prevent access of unauthorised people to the manufacturing premises and the loss or theft of cannabis and cannabis products. Hence, it is expected to maintain a vigil on the manufacturing of cannabis in the coming years. In May 2020, Aurora Cannabis Inc., a Canada-based cannabinoid company, acquired Reliva, LLC., for an undisclosed amount. Through this acquisition, Aurora and Reliva will be able to build a market-leading international cannabinoid platform, and they will be able to offer stable revenue and enhanced profitability. Reliva, LLC., is a US-based company and a pacesetter in delivering high-quality hemp-derived CBD products to consumers. North America was the largest region in the cannabis products market in 2022. The Middle East is expected to be the fastest-growing region in the global cannabis products market share during the forecast period. The regions covered in the global cannabis products market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cannabis products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The cannabis products market consists of sales of cannabis vape products, cannabis edibles, cannabis topicals, and cannabis oral products. 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. 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 organisations 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 chain or as part of other products. The cannabis products market research report is one of a series of new reports from The Business Research Company that provides cannabis products market statistics, including cannabis products industry global market size, regional shares, competitors with a cannabis products market share, detailed cannabis products market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis products industry. This cannabis products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Hemp fiber refers to one of the robust members of the family of strong natural fibers, which are generated from the cannabis family's hemp plant. The plant's stem is made up of long strands that are used to make hemp fabric. By using a technique called retting, these fibres are extracted from the bark and then spun together to produce a continuous thread that can be woven into textiles. The main types of hemp fiber are long (bast) fibers, and short (core) fibers. The long (bast) hemp fiber market refers to the soft woody fiber obtained from the stems of dicotyledonous plants and is used for textiles and cordage. The different sources include organic and conventional, and are used in food, beverages, personal care products, textiles, pharmaceuticals, and other applications. The global hemp fiber market is segmented – 1) By Type: Long (bast) Fibers, Short (core) Fibers 2) By Source: Organic, Conventional 3) By Application: Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Other Applications The global hemp fiber market size will grow from $7.94 billion in 2022 to $10.94 billion in 2023 at a compound annual growth rate (CAGR) of 37.9%. 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 hemp fiber market size is expected to grow to $36.21 billion in 2027 at a CAGR of 34.9%. Increasing legalization to cultivate industrial hemp is expected to propel the growth of the hemp fiber market going forward. Industrial hemp is obtained from the plant species Cannabis sativa and has been used globally to produce a variety of industrial and consumer products. Industrial hemp is grown for its fiber and seeds, which are used for the manufacture of hemp fiber. As a result, increasing legalization of industrial hemp helps to increase the production of hemp fiber. For instance, in January 2021, the US Department of Agriculture announced the final rule regulating the production of hemp in the United States. The rules are issued under Section 10113 of the law. This has implicitly legalized the manufacturing and selling of Delta-8 THC, which contains minor psychoactive substances similar to the legally banned Delta-9 (marijuana). Therefore, the increasing legalization of cultivating industrial hemp is driving the growth of the hemp fiber market. Major players in the hemp fiber market are Hempco, Ecofibre, Hemp Inc., GenCanna, HempFlax BV, Natural Fiber, Forever Green, HempAge AG, Hempro Int. GmbH & Co. KG, Hempy’s, Parkland Industrial Hemp Growers Cooperative Ltd., Shanxi Greenland Textile, BaFa, Dunagro, Shenyangbeijiang, Hempfortex, Kingdom Holdings, CanvaLoop Fibre Private Limited, Plains Industrial Hemp Processing Ltd., MH medical hemp, Industrial Hemp Manufacturing LLC, Konoplex, Hemp Oil Canada, and HemPoland. New product innovations have emerged as the key trend gaining popularity in the hemp fiber market. Major companies operating in the hemp fiber sector are focused on introducing product innovations to sustain their position. For instance, in June 2020, Precision Extraction, a US-based manufacturer of hemp extraction equipment, launched the CRS 2000 (CryoMass Refinement System), which is a solvent-free harvesting and refining system. It is used for both drying and purifying biomass from cannabis and hemp plants at a rate of up to 600,000 grams per hour. CRS 2000 drastically increases solvent-based cannabis and hemp, which helps to increase extraction volume by up to 400%. In March 2020, Stevia Nutra Corporation, a Canada based company that produces hemp and stevia, acquired New Earth Development Corporation for an undisclosed amount. Through this acquisition, Stevia Nutra increases its capabilities in developing and producing unbreakable, ballistic personal protective clothing using foam, graphene, and hemp-based compositions. New Earth Development Corporation is a US-based hemp fiber manufacturing company pioneering in the development of hemp fiber-based materials. Asia-Pacific was the largest region in the hemp fiber market in 2022. The regions covered in the hemp fiber report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the hemp fiber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The hemp fiber consists of sales of hemp grain and hemp seed. 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 market value includes the value of related goods sold by the service provider or included within the service offering. 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 hemp fiber market research report is one of a series of new reports from The Business Research Company that provides hemp fiber market statistics, including hemp fiber industry global market size, regional shares, competitors with a hemp fiber market share, detailed hemp fiber market segments, market trends and opportunities, and any further data you may need to thrive in the hemp fiber industry. This hemp fiber 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.

Hemp-based foods are food products that are derived from the hemp plant whose seeds contain all the amino acids required by our body. In general, hemp seeds and oils are used to make a variety of food products such as hemp milk, hemp oil, hemp cheese substitutes, and hemp-based protein powder. The main products of hemp-based foods are hemp seed oil, hemp protein powder, whole hemp seed, and hulled hemp seed. Hemp seed oil is suitable for cooking or used as an ingredient in cosmetics. The seeds of hemp plants are pressed to produce hemp seed oil. It has a distinctive nutritional profile that includes omega fatty acids and gamma-linolenic acid. It also has therapeutic properties due to its high antioxidant content. The hemp-based food products are distributed through supermarkets and convenience stores. The global hemp based foods market is segmented - 1) By Product: Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seed 2) By Distribution Channel: Supermarket Stores, Convenience Stores The global hemp-based foods market size grew from $5.05 billion in 2022 to $5.54 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. 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 market size of the hemp-based foods market is expected to grow to $7.94 billion in 2027 at a CAGR of 9.4%. The rising vegan population is driving the hemp-based food market. The vegan population consists of people who abstain from all animal products, such as leather, as well as meals like meat, dairy, eggs, and honey and, to the greatest extent, feasible goods that have been subjected to animal testing. Health, weight control, animal welfare, and environmental concerns are some of the reasons people are moving towards a vegan diet. All nine necessary amino acids, along with fiber, healthy fats, and minerals, are present in hemp, which makes it a premium vegan protein source. For instance, according to the survey conducted by Veganuary, an annual campaign called conducted by a non-profit organization in the UK that encourages participants to adopt a vegan diet and lifestyle for the whole month of January, 4 million people signed up for the campaign in 2020, which increased to more than 5 million in 2021. The signups further increased to 6.29 million in 2022. Hence, an increase in the vegan population will propel the hemp-based food market. Major players in the hemp based foods market are Agropro, Nutiva Inc., Compass Group Management LLC, Canopy Growth Corporation, Hempco Inc., Canada Hempfoods Ltd., Elixinol LLC, Cool Hemp Ltd., Hemp Foods Australia Pty Ltd., Liaoning Qiaopai Biotech Co. Ltd., Naturally Splendid Enterprises Ltd., Navitas Organics, Yunnan Hua Fang Industrial Hemp Co. Ltd., Mettrum Originals, Braham & Murray Ltd., and Manitoba Harvest Ltd. The strategic partnership is a key trend in the hemp-based food market. Major companies are entering into a partnership with hemp-based food companies to expand their market and leverage each other's resources. In July 2022, Victory Hemp Foods, a US-based hemp-based food manufacturer, partnered with Applied Foods Sciences (AFS). The partnership will improve sales and marketing for Victory Hemp's two proprietary ingredients, V-70TM Hemp Heart Protein and V-ONETM Hemp Heart Oil, as well as for its food and beverage ingredients. This commitment will further broaden the range of products in which hemp grain can be used as an ingredient. Applied Foods Sciences (AFS) is a US-based supplier of innovative, functional, and organic ingredients. In June 2020, Healthy Food Ingredients (HFI), a US-based specialty ingredient supplier, entered into a partnership with KND Labs. The partnership provides clean label extraction, open third-party testing, and grower-direct supply assurance to the food, beverage, pet, nutraceutical, and cosmeceutical businesses. These services are supported by advanced food safety and quality certifications. KND Labs is a US-based producer of high-quality domestic hemp-derived cannabinoids such as CBD, CBG, and CBN. In June 2021, Flora Growth Corp, a Canada-based cannabis company, acquired Koch & Gsell for USD22.2million (CHF 20 million). With this acquisition, Flora intends to acquire the whole hemp, blended hemp, and tobacco cigarette manufacturing technology of Koch and Gsell. Koch and Gsell is a Switzerland based manufactures and distributor a range of hemp products. North America was the largest region in the hemp based food market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the hemp based food market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hemp based food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The hemp-based foods market consists of sales of hemp milk and hemp based cheese substitutes. 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. 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 hemp-based food market research report is one of a series of new reports from The Business Research Company that provides hemp-based food market statistics, including hemp-based food industry global market size, regional shares, competitors with a hemp-based food market share, detailed hemp-based food market segments, market trends and opportunities, and any further data you may need to thrive in the hemp-based food industry. This hemp-based food 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.