China Cannabis Market Analysis

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  • Type: Common Disease Area
  • Published : April 2021
  • Region: Asia
  • Country: China
  • Report ID : 1659

  • Format: PPT, PDF

China Cannabis Market: Segmented by Application (Industrial Application, Recreation Application, and Medical Application), Compound (THC-dominant, CBD-dominant, and Balanced THC & CBD)- Growth, Trends, And Forecasts (2019 – 2028)

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Report Overview

The China Cannabis market size stood at USD XX billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of XX% during the forecast period.
China is the world’s major cannabis planting area, accounting for about half of the world’s total area. According to statistics from the World Intellectual Property Organization, 306 of the 606 patents involving cannabis in the world are from Chinese companies and individuals. Two of China’s 34 regions are leading a boom in cultivating cannabis to produce cannabidiol, or CBD, which has become a consumer health and beauty craze in the United States and beyond.

In the domestic market, China’s Yunnan and Heilongjiang provinces have opened up the cultivation and processing of cannabis. Yunnan Province is the only province that has specified the requirements for industrial cannabis cultivation and processing and is also the earliest province for the development of the industrial cannabis industry. In addition, Jilin Province is expected to become the third province in China to open industrial cannabis cultivation and processing.

Market Drivers

Increasing acceptance of medical cannabis, discretionary expenses, and expense towards healthcare are anticipated to propel the market growth. The growth in the demand for cannabis is propelled by the need to come up with better product delivery systems as well as sustainable product strains. This need has, in turn, led to many companies coming up with R&D, which extensively investigates several genetic improvement strategies for cannabis. The usage of cannabis in clinical studies to generate drugs for cancer treatment and pain management is additionally expected to favor the Chinese cannabis market growth.

Looking into this genetic improvement, companies have been extensively venturing into the development of wide yielding varieties, better harvestability and market quality, a reliable low THC content, and improved herbicide tolerance of the cannabis crop. The high yield potential of cannabis arises from several factors that are both genetic and agronomic in nature.

 

1. China Cannabis Market Overview……………………………………………………………..
A. Market Size
2. Market Growth Drivers…………………………………………………………………………….
A. Rise in Prevalence of Cannabis Addiction
B. Growing R&D Investments and Reimbursement Policies
3. Major Cannabis Product Types…………………………………………………………………
A. Flowers
B. Concentrates
C. Others (Capsules, Topicals, Edibles, and Beverages)
4. Cannabis Market Segmentation…………………………………………………………
A. By Application
I. Industrial Application
II. Recreational Application
III. Medical Application
B. By Compound
I. THC Dominant
II. CBD Dominant
III. Balanced THC & CBD
5. Cannabis Major Drugs Market Share………………………………………………………..
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………………….
A. Major Players
B. Products in Pipeline
7. Key Company Profiles………………………………………………………………………..
A. Canopy growth corporation Company overview, Product & Services, Strategies & Financials
B. Aphria Inc. Company overview, Product & Services, Strategies & Financials
C. Aurora Cannabis Company overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape……………………………………..
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth……………………………………………………………….
A. New Trends and Development of Cannabis market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Application:

Based on application, the market is segmented into Industrial consumption, Medical consumption, and Recreational consumption. Industrial consumption accounted for the highest revenue share of in the cannabis cultivation market. This is owing to the growing application of marijuana and hemp in various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and beverages.

Medical consumption is expected to grow at the highest CAGR owing to the increase in the use of marijuana for medical purposes and in the treatment of varied health conditions such as chronic pain, mental disorders, cancer, etc.

By Compound:

Based on the compound, the THC-dominant segment will be the fastest-growing segment in the market. The growth of this segment can be associated with the medical benefits offered by THC-dominant products. These are very effective in relieving nausea, appetite loss, and insomnia.

Major Players

Competition is high among existing players owing to the rise in demand for cannabis and derived products coupled with technological advancements. The rising demand for cannabis cultivation is likely to promote the entry of new companies in the future, fueled by increasing acceptance and awareness regarding cannabis. Major market players include Canopy growth corporation, Aphria Inc., Aurora Cannabis, Tilray, The Cronos group, etc.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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