Cannabis Market to Register Promising Growth of USD 168.58 Billion
12-Oct-22 05:24:39
Cannabis Market to Register Promising Growth of USD 168.58 Billion with Healthy CAGR of 9% by 2029, Industry Size, Share, Development Trends and Value Forecast
The increased incidence of chronic diseases after 50 years of age, as well as the efficacy of cannabis in treating such problems. January 2018, the Australian government has permitted regional cannabis growers to export medical cannabis and its products to the international market which is further anticipated to propel the growth of the market.
A Qualitative Research Study accomplished by Data Bridge Market research's database, titled “Global Cannabis Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. This Cannabis market research report helps the management of a firm in planning by providing accurate and up-to-date information about the demands, customers’ changing tastes, attitudes, preferences, buying intentions, etc. The manufacturer can adjust production according to the conditions of demand evaluated in the report. It lends a hand to establishing a correlative relationship between the product brand and consumers’ needs and preferences. Moreover, manufacturers can secure economies in the distribution of products with the data underlined in this Cannabis market analysis report. Also, the report makes the marketing of goods efficient and economical which help eliminate all type of wastage.
Medicinal cannabis makes up a sizable portion of the cannabis market due to the Many nations have approved the use of cannabis for medicinal purposes, including Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, and Uruguay. Data Bridge Market Research analyses that the cannabis market was valued at USD 25.40 billion in 2021 and is further estimated to reach USD 168.58 billion by 2029, and is expected to grow at a CAGR of 9% during the forecast period of 2022 to 2029.
SOURCE: GLOBE NEWS WIRE