COVID-19 Impacts: Impact on Cannabis Oil In USA

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.

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cannabis market reports @ https://www.databridgemarketresearch.com/covid-19-resources/covid-19-impact-on-cannabis-in-the-food-and-beverage-industry

Global
Cannabis Market

Global Cannabis
Market By Product Type (Buds, Oil, Tinctures, Others), Usage (Medical,
Recreational), Crop Variety (Cannabis Indica, Cannabis Sativa, Others),
Distribution Channel (Physical, Digital, Others) and Geography (North America,
Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends
and Forecast to 2026

Cannabis is a type
of drug that is obtained from plants such as cannabis
indica and cannabis
sativa. The active chemical present in the plant is tetrahydrocannabinol (THC).
Cannabis plant has several medical as well as recreational usages. In medical,
cannabis is reported to treat nausea, vomiting, chronic pains, asthma and many
more diseases. The plant also has psychoactive and physiological effects when
taken into the body.

Global cannabis
market is projected to register a healthy CAGR of 34.7% in the forecast period
of 2019 to 2026.

Global
Cannabis Seeds Market 

Global Cannabis
Seeds Market, By Type (Whole Cannabis Seeds, Shelled Cannabis Seeds, Cannabis
Seeds Oil, Cannabis Seeds Protein), Application (Personal Care Products,
Pharmaceuticals), Source (Organic, Conventional), Distribution Channel (Direct
Sales, Online, Modern Trade Format, Convenience Stores, Departmental Stores,
Retails and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K.,
France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of
Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia,
Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina,
Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of
Middle East & Africa) Industry Trends and Forecast to 2027

Global
Medical Cannabis Market

Global
Medical Cannabis Market,By
Species (Cannabis Indica, Sativa, Hybrid), Derivatives (Cannabidiol (CBD),
Tetrahydrocannabinol (THC), Others), Application (Pharmaceutical Industry,
Research and Development Centers, Others), Route of Administration (Oral
Solutions and Capsules, Smoking, Vaporizers, Topicals, Others), Country (U.S.,
Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium,
Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea,
Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-
Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia,
UAE, Egypt, Israel, Rest of Middle East & Africa), Market Trends and
Forecast to 2027

Global
Medical Cannabis Market Scope and Market Size

Medical cannabis
market is segmented of the basis of species, derivatives, application and route
of administration. The growth amongst these segments will help you analyse
meagre growth segments in the industries, and provide the users with valuable
market overview and market insights to help them in making strategic decisions
for identification of core market applications.

Based on species,
the medical cannabis market is segmented into cannabis indica, sativa and
hybrid.

Derivatives segment
of the medical cannabis market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC), and others.

The application
segment of the medical cannabis market is divided into pharmaceutical industry,
research and development centers and others.

Based on route of
administration, the medical cannabis market is bifurcated into oral solutions
and capsules, smoking, vaporizers,
topicals and others.

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.

Browse
related report

·       
Global Cannabis Market: Standardization of Cultivation Process
Creating Opportunities for Market Consolidation

·       
Legalization of Medical and Recreational Use of Cannabis is
Driving the growth of Global Cannabis Market in the forecast period of 2019 to
2026