Latest Study on “Legal Marijuana Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Legal Marijuana market size is expected to be worth around US$ 103.15 billion by 2027, according to a new report by nova one advisor.
The global Legal Marijuana market size was valued at US$ 9.46 billion in 2020 and is anticipated to grow at a CAGR of 25.80% during forecast period 2021 to 2027. Growing consumer awareness regarding various health benefits offered by medical cannabis and increasing legalization is contributing to the adoption of these products in the region. Moreover, consumer shift towards plant-based treatments such as marijuana for pain management is likely to fuel the growth of the market. Furthermore, changing buyer perception and attitude toward these products is further bolstering revenue growth during the forecast period.
The adult-use segment dominated the market with a revenue share of 54.6% in 2020 and is expected to expand at a significant CAGR over the forecast period owing to the high demand among millennials and patients who do not qualify for medical cannabis. Medical marijuana is expected to grow at a stable rate throughout the forecast period owing to the legalization in various markets as compared to the adult use of marijuana.
Based on product type, the oil segment accounted for the largest revenue share in 2020. With its rich medical properties and the increasing patient population, the governments of many countries are either decriminalizing or approving its usage. This is expected to boost the growth of the oil segment.
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Key Players:
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Legal Marijuana market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Legal Marijuana market include:
- Canopy Growth Corporation Aphria Inc.
- Aurora marijuana Inc.
- Maricann Group Inc.
- Tilray Inc.
- Cronos Group Inc.
- OrganiGram Holding Inc.
- VIVO marijuana Inc.
- Tikun Olam Ltd.
- The Green Organic Dutchman Holdings Ltd.
- Terra Tech Corp.
- Medical Cannabis Inc.
- Stenocare A/S
- Cannabis Science Inc.
- HEXO Corp
Despite unprecedented implications of the COVID-19 outbreak, the market will gain impetus amidst soaring investment towards sophistication of the healthcare sector. The market survey offers compelling insights into key factors enabling growth through the assessment period. It underscores hidden opportunities across diverse segments. Besides uncovering hidden opportunities, the report presents exclusive insights into challenges posing threat to growth. Alongside this, it offers recommendations to navigate through unforeseen hindrances in the future, while keeping the business afloat.
Scope of the Study
This Legal Marijuana market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, Product Type ,Species ,Strain ,Purchase Channel ,Application ,End-User. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product Type:
- Buds/marijuana Flower
- Cannabis Extracts
- Oil
- Tinctures
- Others
By Species:
- Cannabis Indica
- Cannabis Sativa
- Cannabis Hybrid
By Strain:
- THC-dominant
- CBD-dominant
- Balanced THC and CBD
By Purchase Channel:
- Online
- Offline
By Application:
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Recreational
- Cosmetics
- Others
By End-User:
- Pharmaceutical
- Food, Beverages, and Tobacco
- Personal Care
- Research and Development Centers
Regional Segmentation:
– North America Region (U.S., Canada, Mexico)
– Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
– Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
– South America Region (Brazil, Argentina, Columbia, Rest of South America)
– The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Table of content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Continued…
Final Report will add the analysis of the impact of COVID-19 on this industry.
Important years considered for this report:
Historical Years: 2017-2019
Base Year: 2020
Forecast Period: 2021-2027
Key Points Covered in Legal Marijuana Market Survey
- Demand will remain high in the U.S., backed by favourable reimbursement policies and presence of some of the leading market players.
- Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
- China and India will exhibit high demand for Legal Marijuana, backed by expanding healthcare sector.
- Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Legal Marijuana market.
- Hospitals are expected to showcase higher demand for Legal Marijuana on account of greater access to advanced technologies and higher footfall of patients.
- Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Legal Marijuana market will continue increasing at a high pace.
Some of the key highlights covered in the report include:
- Legal Marijuana Market Demand-Supply Analysis -The report covers detailed insights into demand and supply forces prevailing in the global Legal Marijuana market. It examines trends and factors influencing demand for Legal Marijuana globally and gauges the impact of the same on the production.
- Legal Marijuana Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
- Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
- Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Legal Marijuana across the world.
- Competitive Analysis – Some of the leading market players are profiled in the report on Legal Marijuana. The report offers estimation of share individually helps by the market players and determines the impact of some of their popular strategies.
- COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
- Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.
Why should you invest in this report?
If you are aiming to enter the global Legal Marijuana market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Legal Marijuana are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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The post Legal Marijuana Market Size Grow at 25.80% CAGR, Will Reach USD 103.15 billion by 2027:Nova one advisor appeared first on Flair Insight.
