Food & Beverage

Technavio Releases Report on the Legal Cannabis Market

The global legal cannabis market is expected to grow at a CAGR of almost 24 percent from 2017-2021, according to a new market research report by Technavio.

According to a release, Technavio's report on the global legal cannabis market analyses the business dimensions and presents a breakdown in terms of market segmentation by application, including medicinal use and recreational use. As projected in 2016, around 73 percent of the market share originated from medicinal use.

Based on product, the global legal cannabis market has been segmented into solid edibles, inhalation, liquid edibles, and topicals. As of 2016, around 52 percent of the market share came from solid edibles.

"Solid edibles usually refer to food products infused with cannabis. They primarily include marijuana-infused pills in the medical industry. Solid edibles have high penetration in the legal medicinal cannabis industry as cannabis is usually taken in the form of pills and tablets for the treatment of muscle spasms and body pains, particularly in the case of senior citizens," says Manjunath Reddy, a lead analyst at Technavio for food research.

The global legal cannabis market is moderately concentrated. The current market includes companies of varying sizes. Some are more specialized than the others regarding products. The key vendors of the market include Aurora Cannabis, Bhang Corp., Canopy Growth Corp., Medical Marijuana, and Mentor Capital. The vendors in the market compete on parameters such as brand image, quality, price, service, innovation, distribution, packaging, and promotion.

Other topics covered in the report:

Market drivers:

-Growing social acceptance of cannabis

-Rising popularity of Cannabidiol (CBD) oil

Market challenges:

-Distribution challenges in cannabis industry

-Compromising public health

Market trends:

-Rising number of countries decriminalizing and legalizing cannabis

-Increasing influence of online retailing

((Comments on this story may be sent to newsdesk@closeupmedia.com))

THE DAILY VIEW

  • Alexandra Scarborough
    Tea Forté Introduces ‘Matcha’ Collection

    Convenience meets tradition in Tea Forté’s new Ceremonial Matcha Bowl Set and the Matcha Single Steeps.

    The company said its spring harvested, shade grown, stone ground, organic matcha tea is best served in a centuries-old Japanese tea ceremony called chanoyu: a preparation technique known for its centering meditative qualities.

    "The launch of Tea Forté's Matcha collection represents our continued commitment to wellness and cultivating all the potential mental and physical health benefits of tea," says Tea Forté CEO Michael Gebrael. "In addition to our high quality Pure Matcha, we've also blended four distinct flavored Matcha varieties. Prepackaged in pouches measured out for a single serving, our Single Steeps Matcha is ideal for the office, travel, or to keep with you for a boost anytime."

    Tea Forté noted its handcrafted ceremonial tea bowl, handmade bamboo whisk and measuring ladle “encourages serene enjoyment of our premium Kosher, gluten-free and vegan matcha blends.” These include: Pure Matcha, Chocolate Matcha, Coconut Matcha, Ginger Matcha, and Chai Matcha.

    According to a release, in addition to its distinctive taste, matcha is prized for its health benefits. Steeped green tea contains only the antioxidants that can be extracted in water, while with matcha, the whole leaf is consumed.

    Available now in select stores and online at teaforte.com.

 

 

QUICK 5


Expedia.com has released a year-end look at U.S. traveler behavior and trends for 2017, analyzing data to identify the most in-demand destinations, hotels, activities and more.

Among other insights, the roundup revealed:

  1. Labor Day was the busiest weekend for car rental
  2. Disney Theme Parks topped the list of things to do
  3. The average hotel stay was two nights
  4. Top destinations based on 2017 air travel included major global cities like New York, London and Bangkok
  5. Popular tourist destinations included Orlando, Cancun and Las Vegas