NorthAmerica Cannabis Market – Overview
Increased demand to indulge in recreationaldrug use and pain management is driving the growth of the cannabis market in
North America. Reports that review the consumer and retail industry have been
offered by Market Research Future, which generates reports on industry
verticals that evaluate the market development and opportunities. The market is
projected to exploit a CAGR of over 33% in the forthcoming period.
The psychoactive benefits of cannabis inNorth America are inducing significant development in the market. The speedy
evolution of cannabis and its uses in medicinal purposes is expected to open up
new areas for development in the coming years.
This research report provides detailedinsights, into various levels of analyses such industry analysis, market share
analysis leading market players and their profiles. This report also helps in
studying the target segments by providing views on emerging & high-growth
segments and market conclusion. Together the market data comprise and discuss
with the basic assessments on the competitive scenerios & strategies, of
the NorthAmerican cannabis market size, including the high-growth regions, countriesand their political, economical and technological environments. Furthermore the
project report also provides views over the historic market values as well as,
pricing and cost analysis of the same.
CompetitiveAnalysis
The influences that are having aconsiderable pull in the market's development are dynamically changing, leading
to the creation of novel opportunities. The stronger influence of buyer
purchasing behavior is dictating the expansion of the market to a great extent.
The competition in the market is conducive to the overall growth of the market.
The new players in the market are motivated by the presence of conducive
factors prevailing in the market. Theallocation of assets is being done judiciously so as to ensure improved growth
opportunities. The pricing of goods in the market is done in a manner that
ensures advantages to individuals and competitors. The industry cost make-up is
also likely to modify with time. The role of the government in the market is substantially
motivating the market. Also, the development of technology also has increased
momentum, guiding to improved market growth.
The foremost players in the North America Cannabis chipsMarket consist of Plandai Biotechnology., Tweed Marijuana Inc, AffinorGrowers., Canadian Cannabis Corporation, Cannabis Sativa Inc, Canna Brands
Inc, Omnicanna Health Solutions., Privateer Holdings, Inc, Cannavest,
And Arena Pharmaceuticals, Inc.
SegmentalAnalysis
The regional evaluation of the NorthAmerica cannabis market report is segmented on the basis of derivatives andapplications. Based on the derivatives, the North America cannabis market trends
is segmented into Marijuana/Flowers and Industrial Hemp, Other Concentrates and
Products which consists of Hash, Keif, Hash Oil Etc. Based on the applications
type, the North America legal cannabis market is segmented into recreational
applications, medicinal applications, and others and uses of hemp into clothing
& textile, food and baby care, among others.
DetailedRegional Analysis
The cannabis market in the North Americaregion was over USD 3.5 billion in 2015. This industry was largely working in the
black market; however, with growth in the medical uses of the derivatives such
as hemp and marijuana, this market has undergone important growth over the past
few years. Currently, the North American legal cannabis market is an
alliance of the growers or producers of marijuana and hemp; it is rather a
corporation of science and technology. The U.S. is the major market in the
region was estimated at over USD 3 billion and is expected to increase at a
CAGR over 30% between 2016 and 2021.
IndustryUpdates:
July2019 Accela recently announced that it's extendinga track-and-trace tool, established by Los Angeles-based cannabis software firm
Kind, for state governments to screen legally grown plants from the sale to
seed. Kind’s cloud-based platform employs blockchain, artificial intelligence,
and RFID (radio frequency identification) tags to trace cannabis plants in
granular feature, from treatment to germination to vegetation, supply, and
sale. It’s accessible by itself or in Accela’s ever-expanding set of cannabis-regulation
tools.
July2019 Surterra Wellness Inc. recently appointed exKellogg Co. chief financial officer Fareed Khan as its succeeding finance
chief, the cannabis startup’s newest senior appointment as it pursues to
exploit on legal marijuana sales. The closely held business last month acquired
$100 million from unidentified private investors to fund its growth.
NOTE: Our Team of Researchers areStudying 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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