The global Cannabis Market size is projected to reach USD 97.35 billion by the end of 2026. According to a report published by Fortune Business Insights™, titled “Cannabis Market Size, Share and Industry Analysis by Type (Flowers/Buds and Concentrates), By Application (Medical, Recreational (Edibles and Topical), and Industrial Hemp), and Regional Forecast 2019-2026”, the market size was USD 10.60 billion in 2018. The market will exhibit a CAGR of 32.92% during the forecast period, 2019-2026.

Cannabis is being legalized in several countries for medical and recreational purposes. The demand for cannabis has risen dramatically in the recent years due to the exceptional properties of the product, coupled with its medical benefits. The increasing therapeutic applications will create several opportunities for the companies operating in this market. The advent of cannabis-infused products such as edibles and drinks will aid the growth of the marijuana market in the coming years.

The high investments in the research and development of cannabis-infused drugs for several medical purposes will contribute to the Cannabis Market growth in the coming years. Furthermore, availability of the products in numerous variations will contribute to the growing demand and subsequent rise in the adoption of cannabis across diverse industrial applications.

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https://www.fortunebusinessinsights.com/industry-reports/cannabis-marijuana-market-100219