Factors

The cannabis market continues to change due to various factors, and the main trends and factors are analyzed below:

Changes in regulations

The legalization of cannabis has a significant impact on market growth. In the United States, legalization has progressed at the state level, and in Canada, cannabis was legalized at the federal level in 2018. These legal reforms have created new markets and led to rapid growth in cannabis-related companies. Many more countries are considering the legalization of cannabis, and market expansion is expected.

Improved social acceptance

Social acceptance of cannabis has improved rapidly in recent years. In particular, the perception of medical cannabis has changed, and access for patients has become easier in many countries. In addition, the taboo around recreational cannabis has decreased, attracting new consumer segments to the market.

Introduction of new technologies

In the cannabis market, innovations in cultivation techniques, product development, and sales channels are advancing. In particular, improvements in quality and yield are expected through the development of gene-editing technologies and AI-assisted cultivation management systems. Also, the proliferation of online sales and delivery services has increased touchpoints with consumers, invigorating the market.

Progress in research

As research on cannabis advances, knowledge about its medical effects and safety increases. Specifically, it has become clear that cannabinoids, the active ingredients in cannabis, can be useful in treating various diseases, leading to the exploration of new medical applications. The progress of such research drives market growth.