Cannabis Market in the US 2015-2019
Cannabis is popularly known as marijuana. It is prepared from cannabis plant for medical purpose. THC (tetrahydrocannabinol) is the major psychoactive part in cannabis. Its consumption is generally through chewing or smoking, and it contain at least 85 cannabinoids.
Technavio's analysts forecast the cannabis market in the US to grow at a CAGR of 41.8% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the cannabis market in the US for the period 2015-2019. This report provides data on the market based on the following: distribution channel, geography, and application.
Technavio's report, Cannabis Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the cannabis market in the US and its growth prospects in the coming years. The report includes a discussion of the key vendors in this market.
Technavio Announces the Publication of its Research Report – Cannabis Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Cannabis Market in the US: American Cannabis, Greengro, mCig, Medical Marijuana, Mentor Capital, Terra Tech and United Cannabis
Other Prominent Vendors in the market are: Cannabis Sativa, Cannabis Science, Cannabrandm Chuma Holdings, Dixie Elixirs & Edibles, Eaze, General Cannabis, MedMen, MJIC, Monarch America, Natural Cannabis, Novus Acquisition & Development, Oregon Green Seed, Origin Cannabis, Potbotics, and Privateer Holdings.
Commenting on the report, an analyst from Technavio’s team said: “With the adoption of new and advanced techniques, the market will witness a high volume of cannabis production. In addition, the adoption of hydroponic growth techniques has increased exponentially following the legalization of cannabis use for recreational purposes, thereby resulting in higher sales and revenue generation.”
According to the report, one of the major drivers is the increasing demand for cannabis for recreational purposes. With legalization, many vendors are investing heavily in the market to meet growing consumer demand. This has not only increased market opportunities for vendors, but it has also increased the tax revenue for the state government.
Further, the report states that the issues related to packaging are hindering the growth of the market. New regulations are placing more emphasis on child-resistant packaging, which leads to changes in the outer packaging, thereby leading to safer usage of the product; this has significantly affected the sales and profit margins of the vendors in the market.
American Cannabis, Greengro, mCig, Medical Marijuana, Mentor Capital, Terra Tech, United Cannabis, Cannabis Sativa, Cannabis Science, Cannabrandm Chuma Holdings, Dixie Elixirs & Edibles, Eaze, General Cannabis, MedMen, MJIC, Monarch America, Natural Cannabis, Novus Acquisition & Development, Oregon Green Seed, Origin Cannabis, Potbotics, Privateer Holdings.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook