The cannabis market is expected to reach US$ 147,457.4 million by2027 from US$ 14,383.8 million in 2019; it is estimated to grow at a CAGR of 29.1% from 2020 to 2027.
Cannabis is commercially available in forms such as marijuana, hashish, and Hash oil. A few species of cannabis are used to produce hemp fiber for use in paper, textiles, and clothing. Cannabis has been in use for medical purposes for many years. Recent studies show that cannabis may be useful in treating conditions such as nausea and vomiting, particularly when associated with chemotherapy, glaucoma, epilepsy, and asthma. The growing legalization of medical cannabis; increasing medicinal application of cannabis; and rising awareness regarding medical cannabis through conferences, symposia, and workshops are the major factors propelling the demand for cannabis. However, the stringent regulatory framework for the use of cannabis is market restrains the growth.
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The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Cannabis Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also