Market Introduction
The use of cannabis in the medical industry has grown significantly in recent years. It is used to make drug that is obtained from Indian hemp plants named cannabis indica and cannabis sativa. There are different forms of cannabis available such as marijuana, hashish and hash oil. Cannabis is used for medical purposes for many years. Recent studies show that cannabis may be useful to help conditions such as nausea and vomiting, particularly when associated with chemotherapy, glaucoma, epilepsy and asthma.
Market Overview and Dynamics
The Europe cannabis market is expected to reach US$ 36,997.1 million by 2027 from US$ 3,498.1 million in 2019. The market is anticipated to grow with a CAGR of 29.6% from 2020 to 2027. Factors driving the market growth include up-gradation of regulations for medical cannabis, and growing cannabis industry. It is also expected that the demand for cannabis product during OCVID-19 pandemic will increase to treat breathing illness, nausea and vomiting symptoms. However, challenges related to cannabis are likely to hinder the market growth during the forecast period.
Key Market Segments
In terms of product type, the flowers segment held the largest share of the market in 2019; however, the concentrates segment is anticipated to register the highest CAGR in the market during the forecast period. In terms of application, the medical segment held a larger share of the market in 2019 and the recreational segment is estimated to register a higher market share in the market during the forecast period. Likewise, in terms of compound, the pain management segment held a larger share of the market in 2019 and is estimated to register a higher CAGR in the market during the forecast period.
Major Sources and Companies Listed
European Food Safety Authority, European Monitoring Centre for Drugs and Drug Addiction, and International Cannabis and Cannabinoids Institute are some of the major primary and secondary sources for the Europe cannabis market included in the report.
Reasons to buy the report
Europe Cannabis Market Segmentation
By Product Type
By Application
By Compound
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3,498.1 Million |
| Market Size by 2027 | US$ 36,997.1 Million |
| CAGR (2020 - 2027) | 29.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Cannabis Market is valued at US$ 3,498.1 Million in 2019, it is projected to reach US$ 36,997.1 Million by 2027.
As per our report Europe Cannabis Market, the market size is valued at US$ 3,498.1 Million in 2019, projecting it to reach US$ 36,997.1 Million by 2027. This translates to a CAGR of approximately 29.6% during the forecast period.
The Europe Cannabis Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Cannabis Market report:
The Europe Cannabis Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Cannabis Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Cannabis Market value chain can benefit from the information contained in a comprehensive market report.
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