Recreational Drugs extraction
Recreational Drugs and drug extracts for medical use for psychoactive purposes that extracted from a plant species is Cannabis. Market database suggests that the recreational vertical has attracted more attention from consumers. Legalization of recreational drugs and the availability of different products have fueled the demand in this category. Market research suggests that medical applications of cannabis in different countries have experienced sharp growth. According to the market database, they are administered to patients who are suffering from chronic illnesses such as Parkinson’s, cancer, Alzheimer’s, and many other neurological disorders. Cannabis is also used to treat nausea and insomnia. The growth in consumption of this product can be studied using market research tools like Global Market Database. Customized market research reports based on the customer’s demand can be obtained via this market intelligence platform.
Classification of Compounds:
Market research suggests that based on the type of compounds the cannabis market is divided into Tetrahydrocannabinol (THC) dominant, Cannabidiol (CBD) dominant, and balanced THC & CBD compounds. According to the market database, THC is regarded as the central element that produces the psychoactive effect. THC is used to develop different types of cannabis products. Market research tools state that these compounds are found easily in nature and can be extracted from the marijuana plant. THC is considered very effective for recreational purposes. Such a mix of factors has contributed towards a positive market outlook.
Market database states that CBD is extracted from the cousin plant of marijuana named the hemp plant. According to market research tools, this type of compound is less toxic and has greater applications in the medical domain. CBD is used to alleviate cases related to anxiety and stress. A major study concluded that a 600mg dose of CBD helped people with social anxiety give a speech. Global Market Database can be used to study the prominent growth segments associated with this sector.
Recreational Drugs- Variety of Products:
Research on drugs used for recreation suggests that cannabis products are formulated in different product types which include flowers, concentrates, capsules, topicals, edibles, and beverages. According to the market database, the flower vertical has experienced a greater share in the cannabis market. Market research tools state that the psychoactive effect of cannabis is derived from different plant extracts which can be cultivated in a variety of ways. Market research tools suggest that the flower products of cannabis are ubiquitous and can be packaged in bulk. Cannabis capsules contain a highly refined cannabis extract of neutral oils. These capsules can be mixed or consumed directly which has attracted great attention from key market players. The growth dynamics associated with the product segments of Cannabis can be understood using Global Market Database. The market intelligence tool provides free market data across 600+ verticals.
Research on drugs used for recreational suggests that the cannabis concentrate is defined as a highly potent mixture of THC and/or CBD concentrated mass. According to the market database, the derived compounds are converted into high viscosity oils to be consumed appropriately. Research on drugs used for recreation research states that the concentrate vertical is expected to be the fastest-growing vertical in the cannabis market. Market database suggests that they offer significant advantages such as ease of use and versatility in the method delivery which include dabbing, ingestible oils, and tinctures. This has contributed towards an optimistic market outlook for cannabis concentrate products.
Opportunities:
According to the market database, greater acceptance and legalization across different regions have supported the growth of the cannabis market. Research on drugs used for recreation research suggests that increased consumer awareness in terms of health benefits and related medical applications has led to improved consumption of cannabis products. Global Market Database can be used to perform an opportunity and scenario analysis on this market and its value chain. The market research tool studies the shift in line with changing market trends.
Research on drugs used for recreation suggests that many non-penetrated regions such as APAC and others have started to draft a bill for cannabis production. This has opened up new opportunities for the market players to explore new regions and set up manufacturing operations. Cannabis companies have started to adopt innovative marketing strategies to capture the attention of the consumer. According to the market database, the emergence of new-age start-ups has led to newer opportunities in terms of cultivation, processing, and manufacturing methods.
Challenges:
Research on drugs used for recreation suggests that complex regulatory structures and reluctance showcased by few countries have acted as a key restraint for the growth of the cannabis market. The drivers, restraints, and challenges associated with this product can also be studied using market research tools.
Market database suggests that lack of standardization and uneven legalities in different countries hamper the manufacturing and production activities across the world. Many people around the world are unaware of the medicinal benefits of cannabis and THC. This has constrained the growth of the cannabis market outlook around the world.
Research on drugs used for recreation suggests that the COVID-19 pandemic acted as a key restraint for the cannabis market. According to the market database, this was due to the disruption in supply chains which delayed the production cycles. Manufacturing processes across different geographies were halted which resulted in a shortfall of inventories for both medical and recreational drugs. As several economies have started to ease the restrictions, the movie is expected to drive business recovery.
North American Market:
According to the market database, the region has commanded a greater share in the cannabis market. Market database suggests that this is the product of greater consumer awareness and legalization practices conducted in this region. Such a mix of factors has contributed towards the ease of doing business in North America. Market research tools like Global Market Database can be used to understand the changing market dynamics associated with recreational drugs market.
In Feb 2021, three bills for the legalization of recreational drugs cannabis for adults 21 years and above in New Jersey (U.S) were signed. Research on drugs used for recreation suggests that increased demand for cannabis in medical applications to alleviate stress and anxiety has contributed towards a positive market outlook. According to the Anxiety and Depression Association of America, in 2020, 18.1% of the total population in the U.S suffered from anxiety disorder each year.
Recreational drugs research suggests that partnerships, collaborations, acquisitions, and mergers have allowed to increase the reach of the organizations and drive innovation. For instance, in Dec 2020, a major player in Canada announced a merger to establish the world’s largest cannabis company. The combined company is now supported by low-cost cultivation, processing, and manufacturing facilities. Greater focus on product launches and research designs has allowed the introduction of a new range of consumer-friendly products. In Nov 2020, a company in Canada launched a new line of CBD-infused beverages. These are naturally flavored sparkling water products that are available in both CBD balanced type ranges.
