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[Latest] Global Electric Aircraft Market Size/Share Worth USD 33 Billion by 2030 at a 16% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value) – GrassNews
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[Latest] Global Electric Aircraft Market Size/Share Worth USD 33 Billion by 2030 at a 16% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

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Sandy, Utah, USA, Jan. 24, 2023 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Electric Aircraft Market Size, Trends and Insights By Type (Light Jet, Ultra-light), By Component (Aircraft Battery, Electric Motors, Others), By Technology (All Electric, Hybrid), By Range (More than 500 Km, Less than 500 Km), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.

“According to the latest research study, the demand for global Electric Aircraft Market size & share was valued at approximately USD 8 Billion in 2021 and is expected to reach USD 10.77 billion in 2022 and expected to reach a value of around USD 33 Billion by 2030, at a compound annual growth rate (CAGR) of about 16%during the forecast period 2022 to 2030.”

The report examines the Electric Aircraft market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Aircraft market.

Click Here to Access a Free Sample Report of the Global Electric Aircraft Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=20023

Electric Aircraft Market: Overview

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Electric aeroplanes have the potential to change air travel by lowering their carbon footprint and fuel costs. The necessity for sustainable aviation and strict emission standards are the reasons for the strong demand for electric aircraft. However, it is anticipated that the need for adequate charging infrastructure and the expensive cost of electric aircraft will limit market expansion.

Using electric aircraft has the added benefit of producing less noise. Jet engines, which are quieter than conventional piston engines, are operated by electric aviation. This is a crucial reason why commercial airline operators worldwide are increasingly adopting electric aircraft.

(A free sample of the Electric Aircraft report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on the Request
  • Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
  • Custom Market Insights (CMI) research methodology

(Please note that the sample of the Electric Aircraft report has been modified to include the COVID-19 impact study prior to delivery.)


Request Customized Sample Copy of Electric Aircraft Market Report @ https://www.custommarketinsights.com/request-for-customization/?reportid=20023

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Growth Factors

Fuel and gasoline are needed in significant quantities by the aircraft. This increases the cost of producing aeroplanes for the aviation sector. This element is propelling the widespread adoption and acceptance of electric aircraft. Additionally, the market for electric aircraft is expanding due to consumer preference for technologically advanced goods.

Escalating environmental concerns also fuel the market expansion for electric aircraft. The usage of electric aircraft contributes to a decrease in pollution. Additionally, this leads to a reduction in the harmful impacts of global warming. Additionally, electric aeroplanes are thought of as environmentally benign transportation options. Governments across various nations are attempting to reduce the consequences of greenhouse gas emissions and carbon emissions. Over the forecast period, this factor promotes the expansion and growth of the global market for electric aircraft. 

Technology advancements in the aviation sector are another element boosting the growth of the global market for electric aircraft. Numerous technologies are used in the production of aeroplanes. In addition, autonomous systems are being used with electric aeroplanes. Some electric aircraft are also used in the defence and military industries. These elements are accelerating the global market growth for electric aviation.

Segmental Overview

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The Electric Aircraft market is bifurcated into type, component, technology, and range. Based on technology, in 2021, the hybrid electric aircraft segment represented a sizeable portion of overall revenue. Propellers, fuel-powered engines, and batteries are all used in hybrid electric aircraft. It occasionally combines traditional jet engines with electrically propelled propellers. This particular class of electric aircraft allows for a design that is not feasible with just fuel-powered machines. It provides for silent vertical takeoffs and landings. It also has many electric propellers, which aid in practical aerodynamics.

OEM and designers are driven by the urgent need to move the aircraft industry toward a power-driven future to market all-electric versions of aeroplanes. Additionally, it considerably lowers fuel costs, saving the aircraft sector money.

Request Customized Copy of Electric Aircraft Market Report @ https://www.custommarketinsights.com/report/electric-aircraft-market/

Regional Overview

Due to rising environmental concerns and expanding government initiatives, North America will account for the most significant revenue share in 2021, fueling the market for electric aircraft. Additionally, many individuals and business owners in the North American region travel extensively by business aircraft. Due to this aspect, the demand for electric aircraft is expanding in North America.

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Key questions answered in this report:

  • What is the size of the Electric Aircraft market and what is its expected growth rate?
  • What are the primary driving factors that push the Electric Aircraft market forward?
  • What are the Electric Aircraft Industry’s top companies?
  • What are the different categories that the Electric Aircraft Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Electric Aircraft market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2030
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

The Asia Pacific region’s electric aircraft market is expanding due to numerous major market players and their rising expenditure in R&D activities. Furthermore, demand for electric aircraft is boosted by expanding commercial aviation in nations like India. Additionally, it is anticipated that China and Japan will contribute significantly to the region’s revenue development.

Report Scope
Feature of the Report Details
Market Size in 2021 USD 8 Billion
Projected Market Size in 2030 USD 33 Billion
Market Size in 2022 USD 10.77 billion
CAGR Growth Rate 16% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Pipistrel Group, Bye Aerospace, Airbus, Aerospace Limited, Leonardo S.p.A., Yuneec Holding Limited, Faradair Aerospace Limited, Boeing, Groupe Gorge, Digisky S.R.L., and Others
Key Segment By Type, Component, Technology, Range, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Players Insights

Our market analysis includes a section specifically devoted to key players operating in the Electric Aircraft market. Our analysts overview each player’s financial statements, product benchmarking, and SWOT analysis. In addition, the competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of globally mentioned competitors. 

Directly Purchase a copy of the report [220+ Pages] @ https://www.custommarketinsights.com/report/electric-aircraft-market/

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Prominent Players

  • Pipistrel Group
  • Bye Aerospace
  • Airbus
  • Aerospace Limited
  • Leonardo S.p.A.
  • Yuneec Holding Limited
  • Faradair Aerospace Limited
  • Boeing
  • Groupe Gorge
  • Digisky S.R.L.
  • Others

The global Electric Aircraft market is segmented as follows:

By Type

  • Light Jet
  • Ultra-light

By Component

  • Aircraft Battery
  • Electric Motors
  • Others

By Technology

  • All Electric
  • Hybrid

By Range

  • More than 500 Km
  • Less than 500 Km

Request Customized Copy of Electric Aircraft Market Report @ https://www.custommarketinsights.com/report/electric-aircraft-market/

(We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.)

Still, Looking for More Information? Do OR Want Data for Inclusion in magazines, case studies, research papers, or Media? 

Email Directly Here with Detail Information: support@custommarketinsights.com

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Browse the full “Electric Aircraft Market Size, Trends and Insights By Type (Light Jet, Ultra-light), By Component (Aircraft Battery, Electric Motors, Others), By Technology (All Electric, Hybrid), By Range (More than 500 Km, Less than 500 Km), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/electric-aircraft-market/

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Click Here to Access a Free Sample Report of the Global Electric Aircraft Market @ https://www.custommarketinsights.com/report/electric-aircraft-market/

Key Insights from Primary Research/Key Insights & Findings from the report:

  • As per the analysis shared by our primary respondents, the Electric Aircraft market is expected to grow annually at a CAGR of around 10.5 %.
  • Through primary research, it was established that the Electric Aircraft market was valued at around USD 1.5 Billion in 2021.
  • Based on type segmentation, gas chromatography (GC) and high-performance liquid chromatography (HPLC) were predicted to show maximum market share in the year 2021.
  • The key factor driving the market is the legalization of cannabis use for recreational and medical purposes will be the primary force behind future market trends.
  • The “North America” region will lead the global Electric Aircraft market during the forecast period 2022 to 2030.

Spectacular Deals

  • Comprehensive coverage
  • Maximum number of market tables and figures
  • Subscription-based option offered
  • Best price guarantee
  • Free 35% or 60 hours of customization.
  • Free post-sale service assistance.
  • 25% discount on your next purchase.
  • Service guarantees are available.
  • Personalized market brief by author.

Click Here to Get a Free Sample Report of the Global Electric Aircraft Market @ https://www.custommarketinsights.com/report/electric-aircraft-market/

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This Electric Aircraft Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Manufacturing Technology is used for Electric Aircraft? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Electric Aircraft Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was the Global Market Status of the Electric Aircraft Market? What Was Capacity, Production Value, Cost and PROFIT of the Electric Aircraft Market?
  • What Is the Current Market Status of the Electric Aircraft Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Electric Aircraft Market by Taking Applications and Types in Consideration?
  • What Are Projections of the Global Electric Aircraft Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is Electric Aircraft Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Electric Aircraft Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Electric Aircraft Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Electric Aircraft Industry?

Reasons to Purchase Electric Aircraft Market Report

  • Electric Aircraft Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • Electric Aircraft Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • Electric Aircraft Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • Electric Aircraft Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.

Click Here to Get a Free Sample Report of the Global Electric Aircraft Market @ https://www.custommarketinsights.com/report/electric-aircraft-market/

Reasons for the Research Report

  • The study provides a thorough overview of the global Electric Aircraft market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Electric Aircraft market analysis.
  • The competitive environment of current and potential participants in the Electric Aircraft market is covered in the report, as well as those companies’ strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  •  Participants and stakeholders worldwide Electric Aircraft market should find this report useful. The research will be useful to all market participants in the Electric Aircraft industry.
  •  Managers in the Electric Aircraft sector are interested in publishing up-to-date and projected data about the worldwide Electric Aircraft market.
  •  Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Electric Aircraft products’ market trends.
  •  Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

Directly Purchase a copy of the report [220+ Pages] @ https://www.custommarketinsights.com/report/electric-aircraft-market/

About Custom Market Insights:

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

CMI provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.

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Contact Us:

 Joel John

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 Email: support@custommarketinsights.com

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Directly Purchase a copy of the report [220+ Pages] @ https://www.custommarketinsights.com/report/electric-aircraft-market/

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Cannabis

IM Cannabis Shares Commence Trading on 6:1 Consolidated Basis

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im-cannabis-shares-commence-trading-on-6:1-consolidated-basis

TORONTO and GLIL YAM, Israel, July 12, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IM Cannabis“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that, further to its press release dated July 5, 2024, effective today the Company’s common shares (“Common Shares“) are trading on the Canadian Securities Exchange (the “CSE“) and Nasdaq Stock Market LLC (“NASDAQ“) on a 6:1 post-consolidated basis (the “Consolidation“).

The Company’s trading symbol remains “IMCC” on both the CSE and NASDAQ. The Company’s new CUSIP and ISIN numbers are 44969Q406 and CA44969Q4060, respectively.

After giving effect to the Consolidation, the Common Shares were reduced from 13,394,136 to 2,232,357 Common Shares. No fractional Common Shares were issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation were rounded to the next whole number, otherwise, the fractional Common Share were cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company’s outstanding convertible securities were proportionately adjusted in connection with the Consolidation.

Computershare Investor Services Inc., the Company’s registrar and transfer agent for the Common Shares, has mailed letters of transmittal to registered shareholders of record as of July 12, 2024 providing instructions for the exchange of their Common Shares as soon as practicable following the effective date. Registered shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR+ profile at www.sedarplus.ca. Until surrendered, each Common Share certificate or direct registration system statement representing pre-consolidated Common Shares will represent the number of whole post-consolidated Common Shares to which the holder is entitled as a result of the Consolidation. No action is required by beneficial holders to receive post-consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation.

About IM Cannabis Corp. 

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IM Cannabis (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IM Cannabis’ products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to the Company amplifying its commercial and brand power to become a global high-quality cannabis player.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to maintain the listing requirements of the CSE and NASDAQ; the Company’s ability to focus on Israel, Germany and Europe; the Company’s ability to realize upon the stated benefits of the partial legalization of cannabis in Germany; and the Company amplifying its commercial and brand power to become a global high-quality cannabis player. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the CSE and NASDAQ; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical Herbs Ltd. (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East; the risk of the Company’s inability to capitalize upon the partial legalization of cannabis in Germany; and risks the Company will be unable to amplify its commercial and brand power and/or be unable to become a global high-quality cannabis player.

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Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations, and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
a.taranko@imcannabis.de

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
+972-77-3603504
info@imcannabis.com

Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg

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Cannabis

Legal Cannabis Market Share Value Projected to Reach USD 194.5 Billion, at 16.9% CAGR by 2034: Prophecy Market Insights

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Covina, July 11, 2024 (GLOBE NEWSWIRE) — The study concludes that the global legal cannabis market size and share is expected to grow at a CAGR of 16.9% between 2024 and 2034. The market revenue of USD 47 Billion in 2024 is expected to grow up to USD 194.5 Billion by 2034.

Cannabis was an illicit drug before, but its legalization process is on fast track today in many nations around the globe, opening a multibillion-dollar market with huge growth potential. The said market is bifurcated into two categories: medical cannabis, used for the treatment of various diseases, and recreational cannabis, for fun and other purposes. Most marijuana consumers are young, especially millennials. Males use it more than females, while the level of consumption is also predicated by class and thereby affects the rate of consumption. Psychographics show that marijuana consumers are social, open to experiences, and concerned about health; the last two probably represent a broader moving trend to natural products and alternate medicine.

The legal cannabis market offers a huge amount of variety, starting from flowers to extracts and consumables like cookies and chocolate that can be applied topically on the skin. Concentrations are gaining their following and popularity because of their potency. Also very popular are the edibles—baked goods, particularly cookies, and sweets—that appeal to those who crave discreetness and effectiveness all at once in consumption.

Download a Free Sample Research Report with Latest Industry Insights: https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/5434      

Our Free Sample Report includes:

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  • Overview & introduction of market study
  • Revenue and CAGR of the market 
  • Drivers & Restrains factors of the market 
  • Major key players in the market 
  • Regional analysis of the market with a detailed graph
  • Detailed segmentation in tabular form of market 
  • Recent developments/news of the market 
  • Opportunities & Challenges of the Market

Some of the Key Market Players:

  • Aurora Cannabis
  • Cresco Labs
  • Jazz Pharmaceuticals
  • Verano Holdings
  • Canopy Growth Corporation
  • Green Thumb Industries
  • Trulieve Cannabis
  • MedMen
  • Aphria
  • Cronos Group
  • Curaleaf
  • GW Pharmaceuticals, plc.
  • The Green Organic Dutchman

To Know More on Market Players, Download a Free Sample Report Here: https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/5434    

Analyst View:

Global cannabis regulations differ, but most countries are legalizing it fast, thereby creating a multibillion-dollar market with huge growth potential. The market segments include cannabis for recreation and cannabis for medical use. Young people form a huge part of the cannabis users, particularly the millennial group who exhibit a social class influence. Due to early legalization and permissive rules, North America is the leader of the legal cannabis business concerning product variety. The constantly changing process of the market keeps including new and different consumers and substances like CBD or substances for euphoric-balming effects.

Legal Cannabis Market: Report Scope
Report Attributes Details
Market value in 2024 USD 47 Billion 
Market value in 2034 USD 194.5 Billion
CAGR 16.9% from 2024 – 2034
Base year 2023
Historical data 2019-2022
Forecast period 2024-2034

Market Dynamics:

Drivers:

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Growing Recognition and Legalization

  • Together, the increasing number of countries legalizing cannabis and the health benefits derived from medical marijuana easily make the global legal cannabis market ripe for significant growth. North America dominates the market due to major contributors such as the US, Canada, the UK, Germany, and Australia. The medicinal properties of cannabis will most probably drive massive growth in the medical cannabis market. Recreational use of marijuana is projected to have the fastest growth rate, and, as such, create jobs and boost the economy. The growth of the market results from geographical expansion, regulatory frameworks, and technological enhancements.

Increasing Customer Requirements

  • It’s the change in consumer expectations that’s driving big shifts in the legal cannabis sector. Companies are rolling out new product lines to cater to health-conscious consumers who demand a wider variety of cannabis-infused products. Where consumers want organically grown and pesticide-free cannabis, quality, and safety also rank very high. Consumers demand personalized experiences, where buyers and dispensaries are very important in guiding clientele to the right products. Moreover, there is an increase in sustainability and social responsibility due to customers valuing companies advocating for them. Technological integration is also being utilized to enhance convenience and engagement measures.

Request for a Discounted Price on this Report @ https://www.prophecymarketinsights.com/market_insight/Insight/request-discount/5434       

Market Trends:

Benefits of Medicine and Research

  • Growth opportunities in legal cannabis mainly come from the legalization of their consumption, primarily for medical use. There are several medical diseases where the benefits of the use of cannabis have been proved, and the FDA has approved quite a few drugs derived from this plant. Improved cultivation, extraction, and testing technologies are also able to raise the quality and safety of products. The medicinal properties of cannabis are also opening up new options in treatment today, especially with those disorders resistant to traditional medications. Growing awareness of the potential economic opportunities that cannabis avails itself to could further drive the development of new innovative products and treatments, thereby accelerating market growth.

Segmentation:

Legal Cannabis Market is segmented based on Source, Compound, Products, and Region.

Source Insights

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  • From the flowers, which have classically been the traditional form of cannabis for as long as anyone can remember, to a large collection of strains with different cannabinoid levels, the flower truly captures the capabilities of the plant. Seed oil is another source that is not psychoactive in nature but is popular mainly due to its abundance of vital fatty acids and possible health benefits. Other sources are concentrated and super-potent cannabis products like trichomes, kief, and live resin. The infused product market is bound to grow with rising demand for seed oil. All in all, cannabis continues changing to best accommodate these different types of customers.

Compound Insights

  • Tetrahydrocannabinol is the widest cannabinoid used and has euphoric-balming effects. With increasing education among consumers, it can maintain its market share. One of the non-psychotic components is CBD, which helps in pain management and sleep quality, amongst others. Balanced THC & CBD: This segment caters to customers looking for a balanced experience by balancing the analgesic, relaxing properties of THC with the anxiety-reducing, focused properties of CBD.

Product Insights

  • Cannabis oil is quite often a concentrate, one can administer it topically for pain, consume it right out of the container, or use it in edibles. Cannabis drinks, like coffee, bubbling water, and spiked drinks, offer a more discreet and convenient way of consumption. Cannabis candies and chocolates are also other discreet and controlled ways. The legal cannabis sector is always experimenting with new products, vaporizers, topicals, edibles, baked foods, and sprays. Cannabis is also used for pet treats quite frequently. It is believed to expand the market for edibles as much as consumer acceptability and legalization expand.

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Recent Development:

  • In July 2024, Hundreds of pro-cannabis advocates took to Bangkok’s streets to protest a possible ban on general use. The Thai government floated plans to relist the plant as a narcotic, two years after it was decriminalized, earlier this year. A health ministry drug control committee approved the proposal, which would see cannabis only allowed for medical and research purposes.
  • In July 2024, NIST’s New Hemp Reference Material Will Help Ensure Accurate Cannabis Measurements. NIST’s Hemp Plant Reference Material will aid labs in accurately measuring THC, CBD, and other compounds in cannabis products, aiding forensic labs in distinguishing between legal hemp and federally controlled marijuana. It will also assist producers and state regulators in ensuring the safe use and accurate labeling of cannabis products.

Regional Insights

  • North America: The charge is currently being led from North America, due to early legalization and relatively permissive laws in countries like Canada and a number of US states. With so many goods on offer against the backdrop of a clientele base very loyal to their products, almost everything is put in place to create an almost perfect environment. The growth of the North American legal cannabis business is aided by many things, especially the medicinal and recreational markets, consumer demand, and lastly, medicinal research. The largest players are represented by Canopy Growth and Aurora Cannabis. The country with the most rapid growth relocated to Canada.
  • Asia Pacific: Asia is increasingly tolerating the use of medical marijuana, mainly in South Korea and Thailand, the growing disposable money of relatively less developed countries at large will set the stage for marijuana legalization for recreational use when regulations change.

Browse Detail Report on “Legal Cannabis Market Size, Share, By Source (Flowers, Seed oil, others), By Compound (Tetrahydrocannabinol, Cannabidiol, Balanced THC & CBD), By Product (Cannabis Oil, Cannabis Beverages, Cannabis Chocolates & Gummies, Others) By Application (Medical, Scientific, Industrial, and Horticultural purposes) and Region – Trends, Analysis and Forecast till 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/legal-cannabis-market-5434

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Cannabis

Global CBD Oil Market Size To Exceed USD 26.72 Billion By 2033 | CAGR of 18.36%

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New York, United States , July 09, 2024 (GLOBE NEWSWIRE) — The Global CBD Oil   Market Size Expected to Grow from USD 4.95 Billion in 2023 to USD 26.72 Billion by 2033, at a CAGR of 18.36% during the forecast period 2023-2033.

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Cannabidiol oil is another name for CBD oil. (CBD), which originates from cannabis plants, such as hemp and marijuana, can possess anxiolytic, anti-inflammatory, and analgesic properties. These characteristics have led to research on CBD oil as a possible treatment for a number of diseases, including anxiety disorders, chronic pain, and epilepsy. The demand for CBD-infused beauty and skincare products has surged, indicating consumers’ growing inclination towards natural and comprehensive skincare treatments. Growing amounts of CBD, which is well-known for its potential anti-inflammatory and antioxidant properties, are being added to skincare formulae to address issues including acne, inflammation, and aging. Governments from a number of states and countries are supporting its use in drugs and other medical treatments, which is expected to expand and increase these products’ sales and distribution throughout the course of the projected period. However, manufacturers continue to work to increase awareness among customers and provide informative packaging to make it clear what the consumer wants to get out of the items. Consequently, the attempts to support the marketing operations may present opportunities for the global cannabidiol oil market.  

Browse key industry insights spread across 232 pages with 110 Market data tables and figures & charts from the report on the “Global CBD Oil Market Size, Share, and COVID-19 Impact Analysis, By Source (Marijuana, Hemp), By Product (Full-Spectrum CBD Oil, Broad-Spectrum CBD Oil, CBD Isolate), By Application (Food & Beverages, Pharmaceuticals, Pet Care, Cosmetics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033″

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The hemp segment is expected to hold the largest share of the CBD oil market during the anticipation timeframe.   

Based on the source, the CBD oil market is categorized into marijuana, and hemp. Among these, the hemp segment is expected to hold the largest share of the CBD oil market during the anticipation timeframe. Increased demand for pharmaceuticals and increased public awareness of health issues are likely to drive significant growth in the market for hemp-derived cannabidiol. The pharmaceutical industry predicts that when consumer disposable income increases and cannabis becomes legal, demand for the substance will rise.

The full-spectrum CBD oil segment is expected to grow at the fastest CAGR during the anticipation timeframe.    

Based on the product, the CBD oil market is categorized into full-spectrum CBD oil, broad-spectrum CBD oil, and CBD isolate. Among these, the full-spectrum CBD oil segment is expected to grow at the fastest CAGR during the anticipation timeframe. It indicates the combined benefits of many drugs may be more beneficial than CBD individually. With regard to the entourage effect, full-spectrum CBD oil is expected to have more medicinal benefits than CBD isolation. People may get improved relief from symptoms like pain, inflammation, anxiety, and more.

The pharmaceuticals segment is expected to hold a significant share of the CBD oil market   during the anticipation timeframe.

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Based on the application, the CBD oil market is categorized into food & beverages, pharmaceuticals, pet care, cosmetics, and others. Among these, the pharmaceuticals segment is expected to hold a significant share of the CBD oil market during the anticipation timeframe. the growing number of research investigations evaluating CBD’s physical effects on particular medical conditions. These products are used as an alternative by a substantial, knowledgeable, and conscientious consumer base to lessen mental stress and nervousness.

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North America is projected to hold the largest share of the CBD oil market over the anticipation timeframe.

North America is projected to hold the largest share of the CBD oil market over the anticipation timeframe. Interest from consumers in and tolerance to CBD have significantly increased in the US, which has significantly affected the market share and position of the area. North America is currently the largest market region because to ongoing development, pre-existing infrastructure, and growing public awareness of the potential benefits of CBD.

Europe is expected to grow at the fastest CAGR growth of the CBD oil market during the anticipation timeframe. The legalization of cannabis in a number of European countries has created new markets for CBD products, which will attract investment and encourage the creation of new goods. Moreover, the rise of CBD-infused goods in industries like wellness, food and drink, healthcare, and cosmetics encourages market progress in Europe and positions the region as a significant CBD oil market over the projection period.

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Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the CBD oil market are Aurora Cannabis Inc., BIOTA Biosciences LLC, CannazALL, Cannoid LLC, Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol, Avicanna, Endoca BV, Folium Biosciences, Gaia Botanics, Green Roads Inc., Happie Hemp Pvt. Ltd., Kazmira LLC, Medical Marijuana Inc., and others.

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Recent Developments

  • On January 2023, the acquisition of Goodbody Botanicals Ltd. by British Cannabis, a pioneer in the CBD market, represents a major advancement in our leadership in the wellness industry. This acquisition represents a significant expansion of our manufacturing capacity and an improvement in our ranking on the UK Food Standards Agency’s (FSA) list of authorized products, signifying more than just the joining of two firms.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the CBD oil market based on the below-mentioned segments: 

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Global CBD Oil Market, By Source

  • Marijuana
  • Hemp

Global CBD Oil Market, By Product

  • Full-Spectrum CBD Oil
  • Broad-Spectrum CBD Oil
  • CBD Isolate

Global CBD Oil Market, By Application

  • Food & Beverages
  • Pharmaceuticals
  • Pet Care
  • Cosmetics
  • Others

Global CBD Oil Market, By Regional

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

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