North America Cannabis Market: Focus on Product Type, Medical Application, Distribution Channel, Countries Data (U.S. and Canada) and Competitive Landscape – Analysis and Forecast, 2019-2025
Key Questions Answered in the Report:- How did the market for cannabis evolved in North America and what is its scope in the future?
- What are the major market drivers, trends, challenges, and opportunities present in the North America cannabis market?
- What are the regulations pertaining to the North America Cannabis market? When was medical and recreational use of cannabis legalized in the U.S. and Canada and under what conditions?
- What are the initiatives implemented by different government bodies of different states of the U.S. and Canada to legalize the cultivation, production, possession, and distribution of cannabis?
- How much revenue is expected to be generated by different segments, such as product, distribution channel, and country of the North America Cannabis Market?
- What are the different medical applications of cannabis? Which medical application is expected to witness the highest growth rate and why?
- What are the different distribution channels existing in the North America cannabis market? Which distribution channel dominated the market in 2018 in the U.S. and Canada and which distribution channel is expected to witness the highest growth rate during the forecast period between 2019 and 2025?
North America Cannabis Market Size, 2019-2025
The North America cannabis industry analysis by BIS Research highlights that the market was valued at $13.21 billion in 2018 and is expected to reach $36.7 billion in 2025. The market is expected to witness a significant growth during the forecast period from 2019 to 2025.
The legalization of cannabis in both the U.S. and Canada for medical and recreational purposes has been the most prominent driving force toward the growth of cannabis market in North America. The rising demand for cannabis products among consumers in both the countries further boosts the adoption rate of cannabis products in North America.
In addition, increasing investment from both private and public sectors for research and the development of safer forms of cannabis products are also acting as a stimulant for the growth of the North America cannabis market. However, factors such as risk of adverse side-effects, stringent regulatory and approval process, and complex distribution channel are some of the challenges that the market is currently facing.
Expert Quote on the North America Cannabis Market
“Recreational cannabis contributed to highest market share of the North America cannabis market in 2018 and is also expected to grow at higher CAGR as compared to that of medical cannabis. Stringent regulation controlling the production and distribution of medical cannabis and the risk of negative side effects associated with the medical use of cannabis acted as major restraints limiting the growth of the medical cannabis market in North America. In contrast, upsurge in demand for recreational cannabis aided in the growth of the recreational cannabis market in both the U.S. and Canada.”
Scope of the North America Cannabis Market
The purpose of the study is to gain a holistic view of the North America cannabis market in terms of various factors influencing it such as recent trends and research advancements in the market. The scope of this report is centered upon conducting a detailed study of the products allied with the North America cannabis market.
This research report aims at answering various aspects of the North America cannabis market with the help of the key factors driving the market, restraints that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The report includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market.
Market Segmentation
The North America cannabis market is segmented into four different parts i.e. by product type, by medical application, by distribution channel, and by region. The North America market value was estimated using these four different approaches which were validated with one another. These segments are further segmented into several sub-segments to ease the market estimation.
The North America cannabis market is segmented by countries into U.S. and Canada. In 2018, U.S. accounted for almost 96% of the total market share of the North America cannabis market. This was mainly attributed to the increasing legalization of cannabis products for both medical and recreational use in different states of the U.S. However, Canada is expected to witness higher growth rate during the forecast period between 2019 and 2025 as compared to the U.S.
Key Companies Operating in the North America Cannabis Market
The key players who have significant contributions to the North America cannabis market are Aphria, Inc., Aurora Cannabis Inc., Canopy Growth Corporation, CannTrust Holdings Inc., Cronos Group Inc., Curaleaf Holdings, Inc., Cresco Labs, Inc., Terra Tech Corp., Tilray, Inc., and Trulieve Cannabis Corp., among others.
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- Executive Summary
- 1 Market Overview
- 1.1 Introduction
- 1.2 Evolution
- 1.3 Legalization of Cannabis
- 1.4 Global Cannabis Market: Key Insights
- 1.5 North America Cannabis Market
- 1.5.1 Assumptions and Limitations
- 2 Market Dynamics
- 2.1 Overview
- 2.2 Impact Analysis
- 2.3 Market Drivers
- 2.3.1 Rising Demand and Increasing Legalization of Cannabis
- 2.3.2 Ease of Availability of Cannabis Plant
- 2.3.3 Wide Range of Benefits for both Medical and Recreational Use
- 2.4 Market Challenges
- 2.4.1 Stringent Regulation and Lengthy Approval Process
- 2.4.2 Side Effects Associated with Cannabis Consumption
- 2.4.3 High Cost and Complex Distribution Channel
- 2.5 Market Opportunities
- 2.5.1 Continuing Research for Development of Safer Forms of Cannabis
- 2.5.2 Shifting Trend of Cannabis Industry Toward Online Platform
- 3 Competitive Landscape
- 3.1 Overview
- 3.1.1 Collaborations, and Partnerships
- 3.1.2 Mergers and Acquisitions
- 3.1.3 Business Expansion
- 3.1.4 Product Launches
- 3.1.5 Awards and Recognitions
- 4 Industry Insights
- 4.1 Canada Legal Landscape
- 4.1.1 Cannabis Framework and Legislation by Provinces and Territories
- 4.1.1.1 Alberta
- 4.1.1.2 British Colombia
- 4.1.1.3 Manitoba
- 4.1.1.4 Newfoundland and Labrador
- 4.1.1.5 Northwest Territories
- 4.1.1.6 New Brunswick
- 4.1.1.7 Nova Scotia
- 4.1.1.8 Nunavut
- 4.1.1.9 Ontario
- 4.1.1.10 Québec
- 4.1.1.11 Saskatchewan
- 4.1.1.12 Prince Edward Island
- 4.1.1.13 Yukon
- 4.2 U.S. Legal Landscape
- 4.2.1 U.S. Federal Laws Impacting Cannabis Market
- 4.2.2 U.S. State Laws Impacting Cannabis Market
- 4.2.3 Medical Cannabis Laws
- 4.2.3.1 CBD/Limited Laws
- 4.2.3.2 Recreational Laws
- 5 North America Cannabis Market (by Product)
- 5.1 Overview
- 5.2 Recreational Cannabis
- 5.3 Medical Cannabis
- 5.3.1 Overview
- 5.3.2 Pain Management
- 5.3.3 Muscle Spasm
- 5.3.4 Headache
- 5.3.5 Anxiety
- 5.3.6 Nausea and Vomiting
- 5.3.7 Other Medical Applications
- 6 North America Cannabis Market (by Distribution Channel)
- 6.1 Overview
- 7 North America Cannabis Market (by Country)
- 7.1 Introduction
- 7.1.1 The U.S.
- 7.1.1.1 The U.S. Cannabis Market (by Product), 2018-2025
- 7.1.1.2 The U.S. Cannabis Market (by Medical Application), 2018-2025
- 7.1.1.3 The U.S. Cannabis Market (by Product Category), 2018-2025
- 7.1.1.4 The U.S. Cannabis Market (by Distribution Channel), 2018-2025
- 7.1.2 Canada
- 7.1.2.1 Canada Cannabis Market (by Product), 2018-2025
- 7.1.2.2 Canada Cannabis Market (by Medical Application), 2018-2025
- 7.1.2.3 Canada Cannabis Market (by Distribution Channel), 2018-2025
- 8 Company Profile
- 8.1 Competitive Dashboard
- 8.2 Aphria, Inc.
- 8.2.1 Company Overview
- 8.2.2 Company Description
- 8.2.3 Financials
- 8.2.4 SWOT Analysis
- 8.3 Aurora Cannabis Inc.
- 8.3.1 Company Overview
- 8.3.2 Company Description
- 8.3.3 Financials
- 8.3.4 SWOT Analysis
- 8.4 Canopy Growth Corporation
- 8.4.1 Company Overview
- 8.4.2 Company Description
- 8.4.3 Financials
- 8.4.4 SWOT Analysis
- 8.5 CannTrust Holdings Inc.
- 8.5.1 Company Overview
- 8.5.2 Company Description
- 8.5.3 Financials
- 8.5.4 SWOT Analysis
- 8.6 Cronos Group Inc.
- 8.6.1 Company Overview
- 8.6.2 Company Description
- 8.6.3 Financials
- 8.6.4 SWOT Analysis
- 8.7 Curaleaf Holdings, Inc.
- 8.7.1 Company Overview
- 8.7.2 Company Description
- 8.7.3 Financials
- 8.7.4 SWOT Analysis
- 8.8 Cresco Labs, Inc.
- 8.8.1 Company Overview
- 8.8.2 Company Description
- 8.8.3 Financials
- 8.8.4 SWOT Analysis
- 8.9 Terra Tech Corp.
- 8.9.1 Company Overview
- 8.9.2 Company Description
- 8.9.3 Financials
- 8.9.4 SWOT Analysis
- 8.10 Tilray, Inc.
- 8.10.1 Company Overview
- 8.10.2 Company Description
- 8.10.3 Financials
- 8.10.4 SWOT Analysis
- 8.11 Trulieve Cannabis Corp.
- 8.11.1 Company Overview
- 8.11.2 Company Description
- 8.11.3 Financials
- 8.11.4 SWOT Analysis
- 9 Research Scope and Methodology
- 9.1 Research Scope
- 9.2 North America Cannabis Market: Research Methodology
- List of Tables
- Table 2.1: Impact Analysis of Market Drivers
- Table 2.2: Impact Analysis of Market Challenges
- Table 2.3: Price of cannabis per gram and tax structure for countries of the U.S. and Canada
- Table 4.1: Key Regulations, by Canadian Provinces and Territories
- Table 4.2: List of States (U.S.) that have Legalized Cannabis for Medical Purposes
- Table 4.3: Key Regulations, by U.S. States for Medical Cannabis
- Table 8.1: Aphria, Inc.: Key Financials, 2016-2018
- Table 8.2: Aphria, Inc.: Operating Expenses, 2016-2018
- Table 8.3: Aphria, Inc.: Cost related to Inventory, 2016-2018
- Table 8.4: Aurora Cannabis Inc.: Segmental Revenue, 2017-2018
- Table 8.5: Aurora Cannabis Inc.: Key Financials, 2016-2018
- Table 8.6: Aurora Cannabis Inc.: Operating Expenses, 2016-2018
- Table 8.7: Aurora Cannabis Inc.: Cost related to Inventory, 2016-2018
- Table 8.8: Canopy Growth Corporation: Key Financials, 2016-2018
- Table 8.9: Canopy Growth Corporation: Operating Expenses, 2016-2018
- Table 8.10: Canopy Growth Corporation: Cost related to Inventory, 2017-2018
- Table 8.11: CannTrust Holdings Inc.: Segmental Revenue, 2017-2018
- Table 8.12: CannTrust Holdings Inc.: Key Financials, 2016-2018
- Table 8.13: CannTrust Holdings Inc.: Operating Expenses, 2016-2018
- Table 8.14: CannTrust Holdings Inc.: Cost related to Inventory, 2017-2018
- Table 8.15: Cronos Group Inc.: Segmental Revenue, 2017-2018
- Table 8.16: Cronos Group Inc.: Key Financials, 2016-2018
- Table 8.17: Cronos Group Inc.: Operating Expenses, 2016-2018
- Table 8.18: Cronos Group Inc.: Cost related to Inventory, 2017-2018
- Table 8.19: Curaleaf Holdings, Inc.: Segmental Revenue, 2017-2018
- Table 8.20: Curaleaf Holdings, Inc.: Key Financials, 2017-2018
- Table 8.21: Curaleaf Holdings, Inc.: Operating Expenses, 2017-2018
- Table 8.22: Curaleaf Holdings, Inc.: Cost related to Inventory, 2017-2018
- Table 8.23: Cresco Labs, Inc.: Key Financials, 2016-2018
- Table 8.24: Cresco Labs, Inc.: Operating Expenses, 2017-2018
- Table 8.25: Terra Tech Corp.: Segmental Revenue, 2016-2018
- Table 8.26: Terra Tech Corp.: Key Financials, 2016-2018
- Table 8.27: Terra Tech Corp.: Operating Expenses, 2017-2018
- Table 8.28: Terra Tech Corp.: Cost related to Inventory, 2016-2018
- Table 8.29: Tilray, Inc.: Segmental Revenue, 2016-2018
- Table 8.30: Tilray, Inc.: Regional Revenue, 2016-2018
- Table 8.31: Tilray, Inc.: Key Financials, 2016-2018
- Table 8.32: Tilray, Inc.: Operating Expenses, 2016-2018
- Table 8.33: Tilray, Inc.: Cost related to Inventory, 2017-2018
- Table 8.34: Trulieve Cannabis Corp.: Key Financials, 2017-2018
- Table 8.35: Trulieve Cannabis Corp.: Operating Expenses, 2017-2018
- Table 8.36: Trulieve Cannabis Corp.: Cost related to Inventory, 2017-2018
- List of Figures
- Figure 1: North America Cannabis Market Scenario (by Country), 2018-2025
- Figure 2: Impact of Market Dynamics, 2018
- Figure 3: Share of Key Developments and Strategies, January 2015 to March 2019
- Figure 4: North America Cannabis Market Share (by Product Type), 2018 and 2025
- Figure 5: North America Cannabis Market Share (by Medical Application), 2018 and 2025
- Figure 6: North America Cannabis Market Share (by Distribution Channel), 2018 and 2029
- Figure 1.1: North America Cannabis Market, 2018-2025
- Figure 2.1: Market Dynamics
- Figure 3.1: Share of Key Developments and Strategies, January 2017-April 2019
- Figure 3.2: Collaborations, and Partnerships (by Companies), January 2017-April 2019
- Figure 3.3: Mergers and Acquisitions (by Companies), January 2017-April 2019
- Figure 3.4: Business Expansion (by Companies), January 2017-April 2019
- Figure 3.5: Product Launches (by Companies), January 2017-April 2019
- Figure 3.6: Awards and Recognitions (by Companies), January 2017-April 2019
- Figure 4.1: Timeline: Legalization of Cannabis in Canada
- Figure 4.2: Timeline: Legalization of Cannabis in the U.S.
- Figure 4.3: Federal Laws Impacting U.S. Cannabis Market
- Figure 5.1: North America Cannabis Market Segmentation (by Product Type)
- Figure 5.2: North America Cannabis Market (by Product)
- Figure 5.3: North America Cannabis Market (Recreational Cannabis), 2018-2025
- Figure 5.4: North America Cannabis Market (Medical Cannabis), 2018-2025
- Figure 5.5: North America Cannabis Market Segmentation (by Medical Application)
- Figure 5.6: North America Cannabis Market, by Medical Application
- Figure 5.7: North America Cannabis Market (by Medical Application for Pain Management), 2018-2025
- Figure 5.8: North America Cannabis Market (Medical Application for Muscle Spasm), 2018-2025
- Figure 5.9: North America Cannabis Market (by Medical Application for Muscle Spasm), 2018-2025
- Figure 5.10: North America Cannabis Market (by Medical Application for Anxiety), 2018-2025
- Figure 5.11: North America Cannabis Market (by Medical Application for Nausea and Vomiting), 2018-2025
- Figure 5.12: North America Cannabis Market (by Medical Application for Others) 2018-2025
- Figure 6.1: North America Cannabis Market Supply Chain
- Figure 6.2: North America Cannabis Market (by Distribution Channel), 2018-2015
- Figure 7.1: North America Cannabis Market (by Country), 2018-2025
- Figure 7.2: The U.S. Cannabis Market, 2018-2025
- Figure 7.3: The U.S. Cannabis Market (by Product Type), 2018-2025
- Figure 7.4: The U.S. Cannabis Market (by Medical Application), 2018-2025
- Figure 7.5: The U.S. Cannabis Market (by Product Category), 2018-2025
- Figure 7.6: The U.S. Cannabis Market (by Distribution Channel), 2018-2025
- Figure 7.7: Canada Cannabis Market, 2018-2025
- Figure 7.8: Canada Cannabis Market (by Product Type), 2018-2025
- Figure 7.9: Canada Cannabis Market (by Medical Application), 2018-2025
- Figure 7.10: Canada Cannabis Market (by Distribution Channel), 2018-2025
- Figure 8.1: Aphria, Inc.: Brand Portfolio
- Figure 8.2: Aphria, Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.3: SWOT Analysis: Aphria, Inc.
- Figure 8.4: Aurora Cannabis Inc.: Brand Portfolio
- Figure 8.5: Aurora Cannabis Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.6: SWOT Analysis: Aurora Cannabis Inc.
- Figure 8.7: Canopy Growth Corporation: Brand Portfolio
- Figure 8.8: Canopy Growth Corporation: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.9: SWOT Analysis: Canopy Growth Corporation
- Figure 8.10: CannTrust Holdings Inc.: Brand Portfolio
- Figure 8.11: CannTrust Holdings Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.12: SWOT Analysis: CannTrust Holdings Inc.
- Figure 8.13: Cronos Group Inc.: Brand Portfolio
- Figure 8.14: Cronos Group Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.16: SWOT Analysis: Cronos Group Inc.
- Figure 8.17: Curaleaf Holdings, Inc.: Brand Portfolio
- Figure 8.18: Curaleaf Holdings, Inc.: Net Revenue and Y-o-Y, 2017-2018
- Figure 8.19: SWOT Analysis: Curaleaf Holdings, Inc.
- Figure 8.20: Cresco Labs, Inc.: Brand Portfolio
- Figure 8.21: Cresco Labs, Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.22: SWOT Analysis: Cresco Labs, Inc.
- Figure 8.23: Terra Tech Corp.: Brand Portfolio
- Figure 8.24: Terra Tech Corp.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.25: SWOT Analysis: Terra Tech Corp.
- Figure 8.26: Tilray, Inc.: Brand Portfolio
- Figure 8.27: Tilray, Inc.: Net Revenue and Y-o-Y, 2016-2018
- Figure 8.28: SWOT Analysis: Tilray, Inc.
- Figure 8.29: Trulieve Cannabis Corp.: Product Portfolio
- Figure 8.30: Trulieve Cannabis Corp.: Net Revenue and Y-o-Y, 2017-2020E
- Figure 8.31: SWOT Analysis: Trulieve Cannabis Corp.
- Figure 9.1: North America Cannabis Market Segmentation
- Figure 9.2: North America Cannabis Market Research Methodology
- Figure 9.3: Primary Research
- Figure 9.4: Secondary Research
- Figure 9.5: Data Triangulation
- Figure 9.6: Bottom-up Approach (Segment-wise Analysis)
- Figure 9.7: Top-down Approach (Segment-Wise Analysis)
- Figure 9.8: Assumptions and Limitations
- Figure 9.9: Considered Factors for Data Prediction and Modeling