The Marijuana Market is expected to register a CAGR of 20.4% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Product Type (Flower, Concentrates, Oil, Tinctures). The report is segmented by Application (Chronic Pain, Mental Disorders, Cancer, Others). The report is segmented by End Use (Medical Use, Adult Use). The report is segmented by Strains (Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, Balanced THC and CBD). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Marijuana Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Marijuana Market Segmentation
Product Type- Flower
- Concentrates
- Oil
- Tinctures
- Chronic Pain
- Mental Disorders
- Cancer
- Medical Use
- Adult Use
- Tetrahydrocannabinol-Dominant
- Cannabidiol-Dominant
- Balanced THC and CBD
Strategic Insights
Marijuana Market Growth Drivers- Legalization and Regulatory Frameworks: One of the main growth drivers for the market has been the legalization of medical marijuana in many states. California and Colorado were initial pioneers demonstrating that medical cannabis, indeed, worked; as more and more states and countries come to recognize its therapeutic value, regulatory environments are increasingly being unfurled for a structured cultivation, distribution, and use framework. Such clear rules will not only help more businesses to enter the market but also make sure that the product is safe and of good quality for the patients.
- Increasing Patient Awareness and Acceptance: More and more, in recent years, patients have been made aware of the goodness of medical marijuana. The educational campaigns, advocacy groups, and personal testimonials have thus contributed to a growing awareness of cannabis as a viable treatment option for conditions such as chronic pain, anxiety, epilepsy, and multiple sclerosis. The stigma attached to marijuana, the longer the informed patients are, is slowly disappearing, and more and more patients will eventually consider it as part of their treatment plan.
- Advancements in Research and Development: Another imperative variable that has led to this transformation has been the increasing scientific work focused on the medicinal significance of cannabis. Credible research and studies kept the medical fraternity and the policymaker diligently contemplating when serious studies revealed that cannabinoids were capable of curing several maladies. Further scientific work creates new avenues into understanding cannabis and also leads to the development of new formulations and delivery methods, thus widening treatment options for the benefits of the patient.
- Rise of Personalized Medicine: Being quite definitive, the advancement of healthcare in personalized medicine is trickling down to the medical marijuana market as well. While healthcare is by nature patient-centric, it finds this increase in demand for tailoring treatment plans according to individual needs. Genomic testing and discovery of biomarkers would guide treatment prescribers to recommend certain strains or formulations of cannabis which could be right to administer for maximum therapeutic efficacy with no or negligible side effects.
- Focus on Sustainability: Sustainability is emerging as an imperative trend in the medical cannabis market. Currently, more consumers than ever ask questions about growing and producing cannabis from an environmental perspective. Therefore, it's sure that the companies adopting organic cultivation methods, eco-friendly packaging and carbon-neutral operations will find resonance with those who are aware of the environment, thus resulting in brand loyalty and market share increase.
- Integration of Cannabis in Holistic Health: There is growing incorporation of cannabis into holistic health practices. More and more patients are looking for natural products that go beyond the traditional Western treatments to finally more inclusive wellness strategies involving diet, exercise, and mindfulness. The current trend would thus be an opportunity for cannabis brands to position themselves within the wellness space by communicating their product not just as medicines, but something integrated into a healthy lifestyle.
- Expansion of Telemedicine: The trend of telemedicine provides massive opportunities for the medical marijuana market. As increasing numbers of patients seek virtual consultations, it is easier for healthcare providers to write prescriptions for medical cannabis in areas that have limited access to specialists. This trend benefits increased patient access as well as provider access to an increased population and grows the market.
- Product Innovation and Development: Increased demand from mature markets for innovative cannabis products, other than just smokes or edibles, like oils and capsule and topical treatments, and condition-specific products, for example, high-CBD medicinal varieties for anxiety or for pain, may expand the base of patients. Companies that invest in R&D to create effective and targeted products will find serious room to grow.
- Growing Acceptance in Mainstream Healthcare: With the health care providers approaches medicinal cannabis and adopting it for treatment, integration into conventional medical practices surfaces as a possibility. This opens avenues for collaboration between cannabis companies and health care providers in education, best outcomes for patients, and a whole approach to patient care. Such integration is likely to cement the acceptance of medical marijuana, thus pushing more patients into its benefits.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Marijuana Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Marijuana Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Marijuana Market is estimated to witness a CAGR of 20.4% from 2023 to 2031
The major factors driving the marijuana market are:
1. Legalization and Regulatory Frameworks
2.Increasing Patient Awareness and Acceptance
Expansion of Telemedicine act as a opportunity for growth of the market in forecast period.
North America region dominated the marijuana market in 2023.
Concentrates segment, by product type, dominated the market in 2023.
Players operating in the market are Canopy Growth Corporation, Aurora Cannabis Inc., Medmen, Terra Tech Corp, Aphria Inc., Vivo Cannabis Inc., Chronos Group Inc., Medical Marijuana, Inc, Stenocare, and Tikun Olam.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Legal Marijuana Market - By Product Type
1.3.2 Legal Marijuana Market - By Application
1.3.3 Legal Marijuana Market - By End Use
1.3.4 Legal Marijuana Market - By Strains
1.3.5 Legal Marijuana Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LEGAL MARIJUANA MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. LEGAL MARIJUANA MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. LEGAL MARIJUANA MARKET - GLOBAL MARKET ANALYSIS
6.1. LEGAL MARIJUANA - GLOBAL MARKET OVERVIEW
6.2. LEGAL MARIJUANA - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. LEGAL MARIJUANA MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. FLOWER
7.3.1. Overview
7.3.2. Flower Market Forecast and Analysis
7.4. CONCENTRATES
7.4.1. Overview
7.4.2. Concentrates Market Forecast and Analysis
7.5. OIL
7.5.1. Overview
7.5.2. Oil Market Forecast and Analysis
7.6. TINCTURES
7.6.1. Overview
7.6.2. Tinctures Market Forecast and Analysis
8. LEGAL MARIJUANA MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CHRONIC PAIN
8.3.1. Overview
8.3.2. Chronic Pain Market Forecast and Analysis
8.4. MENTAL DISORDERS
8.4.1. Overview
8.4.2. Mental Disorders Market Forecast and Analysis
8.5. CANCER
8.5.1. Overview
8.5.2. Cancer Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. LEGAL MARIJUANA MARKET - REVENUE AND FORECASTS TO 2028 - END USE
9.1. OVERVIEW
9.2. END USE MARKET FORECASTS AND ANALYSIS
9.3. MEDICAL USE
9.3.1. Overview
9.3.2. Medical Use Market Forecast and Analysis
9.4. ADULT USE
9.4.1. Overview
9.4.2. Adult Use Market Forecast and Analysis
10. LEGAL MARIJUANA MARKET - REVENUE AND FORECASTS TO 2028 - STRAINS
10.1. OVERVIEW
10.2. STRAINS MARKET FORECASTS AND ANALYSIS
10.3. TETRAHYDROCANNABINOL (THC)-DOMINANT
10.3.1. Overview
10.3.2. Tetrahydrocannabinol (THC)-Dominant Market Forecast and Analysis
10.4. CANNABIDIOL (CBD)-DOMINANT
10.4.1. Overview
10.4.2. Cannabidiol (CBD)-Dominant Market Forecast and Analysis
10.5. BALANCED THC AND CBD
10.5.1. Overview
10.5.2. Balanced THC and CBD Market Forecast and Analysis
11. LEGAL MARIJUANA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Legal Marijuana Market Overview
11.1.2 North America Legal Marijuana Market Forecasts and Analysis
11.1.3 North America Legal Marijuana Market Forecasts and Analysis - By Product Type
11.1.4 North America Legal Marijuana Market Forecasts and Analysis - By Application
11.1.5 North America Legal Marijuana Market Forecasts and Analysis - By End Use
11.1.6 North America Legal Marijuana Market Forecasts and Analysis - By Strains
11.1.7 North America Legal Marijuana Market Forecasts and Analysis - By Countries
11.1.7.1 United States Legal Marijuana Market
11.1.7.1.1 United States Legal Marijuana Market by Product Type
11.1.7.1.2 United States Legal Marijuana Market by Application
11.1.7.1.3 United States Legal Marijuana Market by End Use
11.1.7.1.4 United States Legal Marijuana Market by Strains
11.1.7.2 Canada Legal Marijuana Market
11.1.7.2.1 Canada Legal Marijuana Market by Product Type
11.1.7.2.2 Canada Legal Marijuana Market by Application
11.1.7.2.3 Canada Legal Marijuana Market by End Use
11.1.7.2.4 Canada Legal Marijuana Market by Strains
11.1.7.3 Mexico Legal Marijuana Market
11.1.7.3.1 Mexico Legal Marijuana Market by Product Type
11.1.7.3.2 Mexico Legal Marijuana Market by Application
11.1.7.3.3 Mexico Legal Marijuana Market by End Use
11.1.7.3.4 Mexico Legal Marijuana Market by Strains
11.2. EUROPE
11.2.1 Europe Legal Marijuana Market Overview
11.2.2 Europe Legal Marijuana Market Forecasts and Analysis
11.2.3 Europe Legal Marijuana Market Forecasts and Analysis - By Product Type
11.2.4 Europe Legal Marijuana Market Forecasts and Analysis - By Application
11.2.5 Europe Legal Marijuana Market Forecasts and Analysis - By End Use
11.2.6 Europe Legal Marijuana Market Forecasts and Analysis - By Strains
11.2.7 Europe Legal Marijuana Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Legal Marijuana Market
11.2.7.1.1 Germany Legal Marijuana Market by Product Type
11.2.7.1.2 Germany Legal Marijuana Market by Application
11.2.7.1.3 Germany Legal Marijuana Market by End Use
11.2.7.1.4 Germany Legal Marijuana Market by Strains
11.2.7.2 France Legal Marijuana Market
11.2.7.2.1 France Legal Marijuana Market by Product Type
11.2.7.2.2 France Legal Marijuana Market by Application
11.2.7.2.3 France Legal Marijuana Market by End Use
11.2.7.2.4 France Legal Marijuana Market by Strains
11.2.7.3 Italy Legal Marijuana Market
11.2.7.3.1 Italy Legal Marijuana Market by Product Type
11.2.7.3.2 Italy Legal Marijuana Market by Application
11.2.7.3.3 Italy Legal Marijuana Market by End Use
11.2.7.3.4 Italy Legal Marijuana Market by Strains
11.2.7.4 Spain Legal Marijuana Market
11.2.7.4.1 Spain Legal Marijuana Market by Product Type
11.2.7.4.2 Spain Legal Marijuana Market by Application
11.2.7.4.3 Spain Legal Marijuana Market by End Use
11.2.7.4.4 Spain Legal Marijuana Market by Strains
11.2.7.5 United Kingdom Legal Marijuana Market
11.2.7.5.1 United Kingdom Legal Marijuana Market by Product Type
11.2.7.5.2 United Kingdom Legal Marijuana Market by Application
11.2.7.5.3 United Kingdom Legal Marijuana Market by End Use
11.2.7.5.4 United Kingdom Legal Marijuana Market by Strains
11.2.7.6 Rest of Europe Legal Marijuana Market
11.2.7.6.1 Rest of Europe Legal Marijuana Market by Product Type
11.2.7.6.2 Rest of Europe Legal Marijuana Market by Application
11.2.7.6.3 Rest of Europe Legal Marijuana Market by End Use
11.2.7.6.4 Rest of Europe Legal Marijuana Market by Strains
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Legal Marijuana Market Overview
11.3.2 Asia-Pacific Legal Marijuana Market Forecasts and Analysis
11.3.3 Asia-Pacific Legal Marijuana Market Forecasts and Analysis - By Product Type
11.3.4 Asia-Pacific Legal Marijuana Market Forecasts and Analysis - By Application
11.3.5 Asia-Pacific Legal Marijuana Market Forecasts and Analysis - By End Use
11.3.6 Asia-Pacific Legal Marijuana Market Forecasts and Analysis - By Strains
11.3.7 Asia-Pacific Legal Marijuana Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Legal Marijuana Market
11.3.7.1.1 Australia Legal Marijuana Market by Product Type
11.3.7.1.2 Australia Legal Marijuana Market by Application
11.3.7.1.3 Australia Legal Marijuana Market by End Use
11.3.7.1.4 Australia Legal Marijuana Market by Strains
11.3.7.2 China Legal Marijuana Market
11.3.7.2.1 China Legal Marijuana Market by Product Type
11.3.7.2.2 China Legal Marijuana Market by Application
11.3.7.2.3 China Legal Marijuana Market by End Use
11.3.7.2.4 China Legal Marijuana Market by Strains
11.3.7.3 India Legal Marijuana Market
11.3.7.3.1 India Legal Marijuana Market by Product Type
11.3.7.3.2 India Legal Marijuana Market by Application
11.3.7.3.3 India Legal Marijuana Market by End Use
11.3.7.3.4 India Legal Marijuana Market by Strains
11.3.7.4 Japan Legal Marijuana Market
11.3.7.4.1 Japan Legal Marijuana Market by Product Type
11.3.7.4.2 Japan Legal Marijuana Market by Application
11.3.7.4.3 Japan Legal Marijuana Market by End Use
11.3.7.4.4 Japan Legal Marijuana Market by Strains
11.3.7.5 South Korea Legal Marijuana Market
11.3.7.5.1 South Korea Legal Marijuana Market by Product Type
11.3.7.5.2 South Korea Legal Marijuana Market by Application
11.3.7.5.3 South Korea Legal Marijuana Market by End Use
11.3.7.5.4 South Korea Legal Marijuana Market by Strains
11.3.7.6 Rest of Asia-Pacific Legal Marijuana Market
11.3.7.6.1 Rest of Asia-Pacific Legal Marijuana Market by Product Type
11.3.7.6.2 Rest of Asia-Pacific Legal Marijuana Market by Application
11.3.7.6.3 Rest of Asia-Pacific Legal Marijuana Market by End Use
11.3.7.6.4 Rest of Asia-Pacific Legal Marijuana Market by Strains
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Legal Marijuana Market Overview
11.4.2 Middle East and Africa Legal Marijuana Market Forecasts and Analysis
11.4.3 Middle East and Africa Legal Marijuana Market Forecasts and Analysis - By Product Type
11.4.4 Middle East and Africa Legal Marijuana Market Forecasts and Analysis - By Application
11.4.5 Middle East and Africa Legal Marijuana Market Forecasts and Analysis - By End Use
11.4.6 Middle East and Africa Legal Marijuana Market Forecasts and Analysis - By Strains
11.4.7 Middle East and Africa Legal Marijuana Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Legal Marijuana Market
11.4.7.1.1 South Africa Legal Marijuana Market by Product Type
11.4.7.1.2 South Africa Legal Marijuana Market by Application
11.4.7.1.3 South Africa Legal Marijuana Market by End Use
11.4.7.1.4 South Africa Legal Marijuana Market by Strains
11.4.7.2 Saudi Arabia Legal Marijuana Market
11.4.7.2.1 Saudi Arabia Legal Marijuana Market by Product Type
11.4.7.2.2 Saudi Arabia Legal Marijuana Market by Application
11.4.7.2.3 Saudi Arabia Legal Marijuana Market by End Use
11.4.7.2.4 Saudi Arabia Legal Marijuana Market by Strains
11.4.7.3 U.A.E Legal Marijuana Market
11.4.7.3.1 U.A.E Legal Marijuana Market by Product Type
11.4.7.3.2 U.A.E Legal Marijuana Market by Application
11.4.7.3.3 U.A.E Legal Marijuana Market by End Use
11.4.7.3.4 U.A.E Legal Marijuana Market by Strains
11.4.7.4 Rest of Middle East and Africa Legal Marijuana Market
11.4.7.4.1 Rest of Middle East and Africa Legal Marijuana Market by Product Type
11.4.7.4.2 Rest of Middle East and Africa Legal Marijuana Market by Application
11.4.7.4.3 Rest of Middle East and Africa Legal Marijuana Market by End Use
11.4.7.4.4 Rest of Middle East and Africa Legal Marijuana Market by Strains
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Legal Marijuana Market Overview
11.5.2 South and Central America Legal Marijuana Market Forecasts and Analysis
11.5.3 South and Central America Legal Marijuana Market Forecasts and Analysis - By Product Type
11.5.4 South and Central America Legal Marijuana Market Forecasts and Analysis - By Application
11.5.5 South and Central America Legal Marijuana Market Forecasts and Analysis - By End Use
11.5.6 South and Central America Legal Marijuana Market Forecasts and Analysis - By Strains
11.5.7 South and Central America Legal Marijuana Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Legal Marijuana Market
11.5.7.1.1 Brazil Legal Marijuana Market by Product Type
11.5.7.1.2 Brazil Legal Marijuana Market by Application
11.5.7.1.3 Brazil Legal Marijuana Market by End Use
11.5.7.1.4 Brazil Legal Marijuana Market by Strains
11.5.7.2 Argentina Legal Marijuana Market
11.5.7.2.1 Argentina Legal Marijuana Market by Product Type
11.5.7.2.2 Argentina Legal Marijuana Market by Application
11.5.7.2.3 Argentina Legal Marijuana Market by End Use
11.5.7.2.4 Argentina Legal Marijuana Market by Strains
11.5.7.3 Rest of South and Central America Legal Marijuana Market
11.5.7.3.1 Rest of South and Central America Legal Marijuana Market by Product Type
11.5.7.3.2 Rest of South and Central America Legal Marijuana Market by Application
11.5.7.3.3 Rest of South and Central America Legal Marijuana Market by End Use
11.5.7.3.4 Rest of South and Central America Legal Marijuana Market by Strains
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL LEGAL MARIJUANA MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. LEGAL MARIJUANA MARKET, KEY COMPANY PROFILES
14.1. CANOPY GROWTH CORPORATION
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. AURORA CANNABIS INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. MARICANN INC
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. TILRAY
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. APHRIA INC.
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. THE CRONOS GROUP
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. ORGANIGRAM HOLDINGS INC.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. GW PHARMACEUTICALS PLC.
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. LEXARIA BIOSCIENCE CORP
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. ABCANN MEDICINALS, INC
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
The List of Companies
1. Canopy Growth Corporation
2. Aurora Cannabis Inc.
3. Medmen
4. Terra Tech Corp
5. Aphria Inc.
6. Vivo Cannabis Inc.
7. Chronos Group Inc.
8. Medical Marijuana, Inc
9. Stenocare
10. Tikun Olam.
11. Tilray
12. Cresco Labs Inc.
13. Green Thumb Industries.
14. Trulieve.
15. Innovative Industrial Properties Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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