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The cannabis market size is estimated to be valued at USD 20.5 billion in 2020 and is projected to reach USD 90.4 billion by 2026, recording a CAGR of 28.0% in terms of value. The growth of cannabis market can be attributed to the increasing legalization of cannabis across various regions. Along with that, growing medicinal applications of cannabis will further contribute to the growth of cannabis market in the forecasted period. North America region dominated the cannabis market.

North America dominated the global cannabis market. It is largely driven by the increasing legalization of cannabis for both medical and recreational purposes all over the region. Also, the consumers are now more aware about the health benefits of cannabis. The market is further fueled by the presence of major cannabis giants, such as Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc. These companies are playing a major role in developing new innovative products to fulfill consumer demand.

Among various product types of cannabis, flower segment accounted for the major market share in the overall cannabis market. The dominance of this segment is largely attributable to its wider availability. Also, its method of delivery as smoking or vaping the cannabis flower has a quicker effect, which is why is it preferred by medical and recreational cannabis consumers for fast-acting relief.

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Based on application, the recreational segment is projected to be the fastest-growing during the forecast period. The growth is mainly associated with the high consumption and demand levels for recreational cannabis. Also, the demand for recreational cannabis is projected to surpass the demand for medical cannabis. Therefore, the legalization of recreational cannabis across various regions could translate into a larger market share.

Among various compounds, the THC-dominant segment accounted for the major market share in the overall cannabis market. The dominance of this segment is majorly attributed to the fact that THC is the psychoactive substance in cannabis products. The THC-dominant products also offer important medical benefits, which are considered effective in relieving nausea, appetite loss, and insomnia.

Cannabis is a drug derived from the Cannabis sativa, Cannabis indica, and hybrid strains. Cannabis is composed of different cannabinoids, the two main cannabinoids that are considered to be the most active compounds are tetrahydrocannabinol (THC), the psychoactive compound, and cannabidiol (CBD), the non-psychoactive compound. It used for various medical and recreational purpose.

Empty Capsules Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2026

The global empty capsules market is estimated to be valued at US$ 2.1 Bn in 2020, with the market expected to exhibit a CAGR of 8% during the forecast period (2022-2026).
Empty capsules market are witnessing an adoption upsurge, owing to numerous factors such as limited number of competitors, growing demand from the pharmaceutical sector, standard margin level, and potential opportunities in vegan gelatin-based capsules. Further, faster uptake by the FDA and focus of market players on ramping up production capacity are key factors shaping the growth of the empty capsules market.
Empty capsule manufacturers are progressively targeting specialty markets such as contract manufacturers, generic manufacturers, and pediatric drug manufactures. Increasing penetration of low-cost manufacturers in various countries, and supply contracts of life-saving essential drugs, primarily in developing and emerging countries, are further driving the empty capsules market.
Key Players Focus on Capacity Expansion, Strategic Acquisitions, and Joint Ventures to Widen Regional Presence
Leading players in the empty capsules market, such ACG Worldwide, Capsugel, Qualicaps, Inc., Bright Pharma Caps, Inc., and Roxlor LLC, are concentrating on business expansion through mergers, joint ventures, distribution agreements, and capturing untapped market potential.
Key Takeaways of Empty Capsules Market Study
• Greater focus on relieving pressure of supply chain due to demand gap is being tackled by ramping up production capacity; up-scaling is the fundamental strategy outlined for meeting demand in the empty capsules market.
• Vegetable capsules are the latest innovation and are expected to replace gelatin-based variants. Recently, hard gelatin manufacturers have begun increasing the production of vegetarian capsules at scale.
• South and East Asian pharmaceutical markets are expected to grow at twice the global average in terms of value, owing to population growth, rising incomes, and improved access to healthcare.
• The empty capsules market in China is anticipated to exhibit the fastest growth, where per capita spending is anticipated to increase by over 70% in the coming five years.
• High upfront costs and lower margin levels in empty capsules have resulted in 10%-20% price hike in finished products, registering lower sales for animal-based gelatin products in the recent past.
• India, with almost 40% growth, is offering value-capture opportunities, owing to good patient recruitment, acceptable quality of services, reasonable cost-quality ratio, existence of regulatory agencies, high standards of care, larger population base, and low cost of labour.
• Companies manufacturing halal capsules are obtaining halal certification from the Islamic Food and Nutrition Council of America (IFANCA) to capture market shares in Muslim-dominated countries.
• The empty capsules market is consolidated, with leading manufacturers holding around 70% revenue share. Further, growing prominence of CMOs and large-scale gelatin manufacturers is anticipated to boost the growth engine.
• Higher volume handling by key players in comparison with local manufacturers, and higher production capabilities and price advantages over non-standard manufacturers, are expected to generate significant revenue pockets.
Information Source:
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Hares love to snack on products of the soil! You can make your rabbit extremely content with a decent new piece of natural product. However, what might a bunny at any point eat? Once in a while it tends to be challenging to recollect what a bunny ought to or shouldn't eat. What about apples, for instance? Could bunnies eat apples?