Segmentation AnalysisThe global market for the Cannabis is segmented into product, compound, application and region.By Product:Based on product, the market is segmented into Concentrates, Flower and Others. Among all the product types, flower segment dominated themarket by 58%, and the concentrates segment is anticipated to grow at the maximum CAGR of about 32% during the forecast period. Flowers areeasily available and can be obtained in a huge quantity. Apart from this, vaping or smoking the cannabis flower has a quicker effect and is most
preferred for giving a faster relief to the medical and recreational consumers. While in its usage for pharmaceutical grade drugs, the flower budsare processed through the extraction of active cannabinoids. Also, various products like salves, tinctures, elixirs, creams and poultices can be madefrom the flowering tops which are used for treating the internal and external aliments.By Compound:Based on compound type, the market is categorized into Cannabidiol (CBD)-dominant, Tetrahydrocannabinol (THC)-dominant and Balanced CBD &THC. The Tetrahydrocannabinol (THC)-dominant segment dominated the market. It is also expected to grow at the fastest CAGR of more than 31%and accounted for a share of near about 56% and was valued at near about USD 8.0 Billion. The dominance of this segment is majorly accrediteddue to that psychoactive substance in it, which is responsible for getting the high. THC also has various medicinal benefits which are helpful inrelieving insomnia, appetite loss, nausea and similar symptoms.By Application:Based on application, the market is divided into Medical and Recreational. Further, the medical segment is sub-segmented into NeurologicalHealth Management, Pain Management, Mental Health Management and Others. Due to the rising demand of cannabis for the medicinal purposelike pain management, mental health management and neurological health, this segment is expected to dominate the market. Also, the increasinglegalization of cannabis for recreational purpose is expected to boost this segment in the near future.Regional AnalysisAmongst all the regions, North America accounted for the largest share of the market in 2019. The growth in this market is primarily driven due tothe U.S. and Canada. Due to the increasing legalization for medicinal and recreational purpose and liberalism of government regulations, there is agrowing awareness amongst the consumers regarding its health benefits. North America accounted for more than 80% of the global cannabismarket. Other promising markets for the rising sale of cannabis include countries like Germany, Australia, Poland, Israel and Uruguay. Israel’s vastknowledge in the Agri-space was useful in developing various new technologies and thus has helped in the higher production of new strains. AsU.S. remains closed legally for any export of cannabis, Colombia and Uruguay the Latin American countries are working for becoming the upcomingsuppliers of cannabis in the near future, thus creating huge opportunities as global exporters. Also, other countries like Thailand and UK arecreating a legal structure for cannabis due to which their revenue is expected to rise prominently. Some other countries like New Zealand andSouth Africa are still into the legalization of medical marijuana phase and are expected to develop as viable markets in the upcoming years.Key Players AnalysisMajor players in Cannabis market are Medical Marijuana, Inc. (US), Terra Tech Corp. (US), Cannabis Science Inc. (US), MedMen (US), CanopyGrowth Corporation (Canada), Tilray Inc. (Canada), Aphria Inc. (Canada), Aurora Cannabis Inc. (Canada), Maricann Group Inc. (Canada), Cronos
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