North America Cannabis Market Estimated to Grow Rapidly at CAGR over 33% during 2016 to 2021
North America Cannabis Market Information, by Derivatives (Marijuana/Flowers, Industrial Hemp, Other Concentrates/Products), by Application Type (Applications of Marijuana, Applications of Hemp) – Forecast from 2016 to 2021
Pune, India – June 20, 2017 /MarketersMedia/ —
Market Synopsis of Cannabis Market:
Market Scenario:
The report on North America Cannabis Market focuses primarily on the major markets in the region such as the U.S. Canada and Mexico. The market size of Cannabis stood over USD 3.5 billion in 2015. It is expected to expand at a CAGR over 33% over the period of 2016 to 2021.
Key Players:
Some of the major players in North America Cannabis Market include Canadian Cannabis Corporation, Plandai Biotechnology., Tweed Marijuana Inc, Affinor Growers., Cannabis Sativa Inc, Cannavest, Canna Brands Inc, Omnicanna Health Solutions., Privateer Holdings, Inc, and Arena Pharmaceuticals, Inc.
Key Findings:
• Among the derivatives marijuana accounts for the largest market share. The revenue of this segment stood more than USD 2.5 billion in 2015.
• The U.S. being the largest market in the region accounted for over 95% of the market size of the North America cannabis market.
• Rapid growth of cannabis and its applications in medicinal purposes has driven the growth in this market.
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Market Segments:
North America Cannabis Market can be segmented as follows:
Segmentation by Derivatives: Marijuana/Flowers and Industrial Hemp, Other Concentrates/Products which include Keif, Hash, Hash Oil etc.
Segmentation by Applications Type: on the basis of applications the market is segmented as;
Applications of Marijuana:
• Medicinal Applications
• Recreational Applications
• Others
Applications of Hemp:
• Food and Baby Care
• Clothing and Textile
• Others
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Regional Analysis of Cannabis Market:
Cannabis market in North America was over USD 3.5 billion in 2015. This industry was mainly operating in the black market; however with developments in the medical applications of the derivatives such as marijuana and hemp this market experienced significant growth over the past few years. Presently, the cannabis market is not a bare collaboration of the growers or producers of marijuana and hemp; it is rather a conglomerate of science and technology. The U.S. being the largest market in the region was valued over USD 3 billion and is anticipated to grow at a CAGR over 30% between 2016 and 2021.
Regional Coverage:
• North America
• US
• Rest of North America
The report for Cannabis Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes historic and projected market size in terms of value and volume, technological advancements, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Source: MarketersMedia
Release ID: 209675
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