United States Cannabis market was valued
at USD 11.3 billion in 2020 and is expected to grow at a CAGR of close to 15%
over the forecast period. The key factor for the growth of United States
Cannabis market is its use in medical applications. The cannabis has been
widely used for curing severe medical conditions like cancer, Parkinson’s
disease, Alzheimer’s disease, arthritis, and other neurological conditions as a
part of a medicinal product. Increasing
requirement for pain management therapies and growing chronic pain among elder
citizens has been projected to record high traction in the coming years.
Moreover, cannabis market has shown a significant growth over the past few
years as more states have legalized it. Till now, 33 US states and the District
of Columbia have legalized the use of marijuana for medical, recreational, or
both purposes, which is giving a healthy push to growth of Cannabis market.
The United States Cannabis market is
segmented based on product type, compound, application, region and company.
Based on Product Type, the market can be segmented into Flower and Concentrates. The
concentrates segment dominated the market and is anticipated to record the
highest CAGR in the next 5 years on the account of their ease in usage, and
their versatility in the method of delivery, such as dabbing, ingestible oils,
and tinctures. Furthermore, the concentrates are cleaner, smoother, and less skunky
when compared to flowers. In addition, the concentrates are more potent in
nature having a potency rate of about 50% to 80% which is making it a popular
choice among the end users and thereby boosting the growth of United States
Cannabis market.
The major players operating in the United
States Cannabis market are Green Man Cannabis, Los Sueños Farms LLC, Copperstate
Farms, LLC, Harvest Health & Recreation, Inc., GrowHealthy Holdings, LLC., Vireo
Health of New York, LivWell Enlightened Health LLC, Curaleaf Holding Inc, Isodiol
International Inc., Medical Marijuana Inc.
Objective of the Study:
- To analyze and forecast the market size of United States cannabis
market.
- To classify and forecast United States cannabis market based on Product
Type, Compound, application, company and regional distribution.
- To identify drivers and challenges for United States cannabis
market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in United States cannabis
market.
- To conduct pricing analysis for United States cannabis market.
- To identify and analyze the profile of leading players operating in
United States cannabis market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of Cannabis companies across the US. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the
manufacturers, distribution channels and presence of all major players across
the globe.
TechSci
Research calculated the market size of United States cannabis market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Cannabis manufacturers, suppliers and other
stakeholders
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums and alliances related to
cannabis
- Market research and consulting firms
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units and CAGR for 2017-2021
and 2022E-2027F
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Report coverage
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Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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- Product Type
- Compound
- Application
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Regional scope
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Northeast
Region, South Region, West Region, Mid-west Region
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Key companies profiled
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Green Man Cannabis, Los Sueños Farms LLC, Copperstate Farms,
LLC, Harvest Health & Recreation, Inc., GrowHealthy Holdings, LLC., Vireo
Health of New York, LivWell Enlightened Health LLC, Curaleaf Holding Inc,
Isodiol International Inc., Medical Marijuana Inc.
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Customization scope
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10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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Report Scope:
In this report, United States cannabis
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Market, By Product Type:
- Market, By Compound:
- THC-Dominant
- CBD-Dominant
- Balanced THC & CBD
- Market, By Application:
o Medical
o Recreational
o
West
o
Northeast
o
Midwest
o
South
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in United States cannabis market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
It is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]