Industry Analysis Medical & Healthcare

Recreational Cannabis Market is to see rapid growth

CRI Report has released a report titled “Recreational Cannabis Market–Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD XXXX billion by 2030. According to this Report, the market is anticipated to portray a CAGR of XX.X% between 2020 and 2030. According to the report, The recreational Cannabis Market is expected to see rapid growth over the forecast period. This growth is mainly attributed to the growth in user numbers after legalization and the growing trend towards using marijuana as an alcohol substitute. Marijuana for the relief of pain in various health conditions such as cancer, AIDS, seizures, and other diseases; and the growing medical marijuana research around the world.

The market report on Recreational Cannabis Market includes in-depth insights as:

  • The estimated value of the market was USD XX.XX billion in the year 2021.
  • Recreational Cannabis Market. in Asia Pacific held the largest market share in the year 2020.
  • Based on Type, Oilcake emerged as a key segment in the Recreational Cannabis Market.
  • Based on Application, Food emerged as a key segment in the Recreational Cannabis Market.
  • Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“The legalization of non-medicinal cannabis has allowed people to practice the safe use of substances and realize their medicinal benefits. As a result, many countries are gradually legalizing the use of cannabis around the world. While most of the countries in the world haven’t legalized it yet. Recreational use of cannabis, the focus on use and sale has loosened over the years, resulting in growing popularity of cannabis use in different regions, which has fueled the growth of the Recreational Cannabis Market in general. The recreational segment dominated the market due to the high demand and consumption of cannabis for recreational purposes, so recreational use legalization has enormous potential to be transformed into a large Recreational Cannabis Market”, according to this report

Recreational marijuana use includes the use of cannabis for personal enjoyment and not for health purposes. Recreational marijuana use can be compared to medical marijuana use, where cannabis is prescribed to control the symptoms of some diseases. If it is believed to have no negative health effects, it is important to remember that inhaling smoke is always harmful. Marijuana has also been linked to cognitive problems, breathing problems, cancer, and other potential health problems. In the short term, marijuana can affect your health. Thinking and problem-solving skills, coordination, reaction time, judgment, memory, mood, long-term, regular use can lead to memory loss, learning and thinking problems, changes in brain structure, problems at work or school.

Global Cannabis Extract Market to Surge at 18.29% CAGR, which is anticipated to reach USD 37.67 billion by 2030.

Recreational Cannabis Market is segmented by Product Type into Flowers, Buds, and Concentrates. The Flowers segment is anticipated to boom the Recreational Cannabis Market. In 2020, the Flowers product type segment has registered for the highest share of sales due to the low price and easy accessibility of flowers compared to other products. With its rich medicinal properties and growing patient population, governments in many countries are decriminalizing or decriminalizing by authorizing its use, which is intended to fuel the growth of the Flowers segment in the Recreational Cannabis Market.

Key Players in the Market

  • Some of the key players operating in the Recreational Cannabis Market are VIVO Cannabis, Aurora Cannabis, Canopy Growth Corporation, Maricann Group, Inc., Aphria, Inc., Tilray, The Cronos Group, ABcann Medicinals, Inc., Lexaria Corp., Organigram Holding, Inc.

Get Valuable Insights into Recreational Cannabis Market.

In the new report, CRI Report thrives to present an unbiased analysis of the Recreational Cannabis Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Recreational Cannabis Market. is segmented by Product Type into Flowers, Buds, and Concentrates; By Compound into THC-dominant, CBD-dominant, and Balanced THC & CBD; By Application into Chronic Pain, Mental Disorders, Cancer, Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

 

Global Cannabis Extract Market to Surge at 18.29% CAGR, which is anticipated to reach USD 37.67 billion by 2030.

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