COVID-19 Impact Analysis: Cannabis Market Report Analysis
Coronavirus (COVID-19) outbreak across 110 or more countries has shown impact on every industry. Similarly, it has affected every person as well as every business worldwide with in some small or terribly large way.
In present time scenario, the worldwide cases are more than 8.4 million due to which the economy of the countries has started declining. All the industrial sectors of this country are facing challenges starting from raw material collection to procurement of the end product. One of the industries which have got an impact due to the outbreak is cannabis industry. The revenue generations by the companies or the banks in start of year 2020 were plummeted as the consumers’ demand has decreased and the major reason was lockdown.
An excellent Cannabis marketing report provides important information which assists to identify and analyze the needs of the market, the market size and the competition with respect to ABC industry. Moreover, the report combines all-inclusive industry analysis with precise estimates and forecasts to provide complete research solutions with maximum industry clarity for strategic decision making. This market research report is sure to help in growing sales with new thinking, new skills, and innovative programs and tools. The global Cannabis report really serves to be a proven solution for businesses to gain a competitive advantage. Hence, to stand apart from the crowd, businesses must adopt such market report in today’s fast moving business environment.
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Many nations have been decriminalizing cannabis and legalizing the use of marijuana both for recreational and medicinal purposes. At present, in the US, 34 states (including Washington DC) have legalized cannabis for medicinal purposes, while 10 states among them have granted permission for the use of cannabis both for recreational and medicinal uses. The rapid legalization of cannabis worldwide is hence, one of the key factors driving the legal cannabis market growth.
Medical cannabis users are the most likely group to maintain current levels of consumption. Non-medical users, on the other hand, report more of an intent to increase or decrease consumption. This could reflect the fact that dosage recommendations remain relatively stable for medical users, while lifestyle changes will have a drastic effect on non-medical consumption.
Cannabis stocks have been more reactive to the rise of COVID-19 than regular stocks. Since late January 2020, cannabis stocks have taken steeper losses than most but have also been quicker to respond to market upticks. Stocks have bounced back since March 19th and the pace of recovery of cannabis shares have been beating the rest of the market. The week dating 19 – 26th of March saw a 14% recovery towards January 1st values in the Alternative Harvest fund compared to the 9.7% enjoyed by the Vanguard Total Market fund.
The Cannabis Oil market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. The global Cannabis Oil market report is a comprehensive research that focuses on the overall consumption structure, development trends, sales models and sales of top countries in the global Cannabis Oil market. The report focuses on well-known providers in the global Cannabis Oil industry, market segments, competition, and the macro environment.
Cannabis Seed: COVID-19 Impact
The Global Cannabis Seeds Market 2020 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Global Cannabis Seeds Market analysis is provided for the international Markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.
According to this report Global Cannabis Seeds Market will rise from Covid-19 crisis at moderate growth rate during 2020 to 2027. Cannabis Seeds Market includes comprehensive information derived from depth study on Cannabis Seeds Industry historical and forecast market data. Global Cannabis Seeds Market Size to Expand moderately as the new developments in Cannabis Seeds and Impact of COVID19 over the forecast period 2020 to 2027.
Conclusion
COVID-19 pandemic has taken a toll on the global population and economy. A collaborative effort on governments, public health departments, and hospital fraternity to fight the coronavirus has led to economic slowdowns, global lockdowns, and extreme public safety measures. The public health measures include creating awareness about home quarantine measuring, maintaining food and healthcare supply, especially to the poor are being strictly followed by governments across the world.
Despite the pandemic situation, the market for cannabis has shown drastic growth due to its medicinal properties and consumer preferences towards cannabis-based products. The demand for cannabis-based food and beverage along with the smoking products is rising in the countries where legalization of cannabis is already done. Due to the medicinal properties of cannabis, the governments of many countries are focusing on legalizing the cannabis-based products; this is expected to drive the market for cannabis globally. Increasing the inclination of the younger population towards cannabis in various forms is also a major factor affecting the market for cannabis-based products.