The Global Legal Marijuana Market is poised to value USD 64726 million by 2028 end at a CAGR of 25.5% during the forecast period 2022 to 2028.
Marijuana, often known as cannabis, is a psychoactive plant extract. Cannabis can be used for both medicinal and recreational purposes. It is used in medicine to treat chemotherapy-related diseases, chronic pain, muscle spasms, and other problems. An thorough investigation is being conducted to find its therapeutic uses and benefits. Because of its extensive recreational use, it has a high market value. Regulatory restraints have limited the cannabis industry for the most part. However, given recent trends with countries allowing both medicinal and recreational use, the business is likely to develop dramatically. Growing legalisation of marijuana around the world, increasing therapeutic applications of marijuana, an ageing population in need of chronic disease treatment, and technological breakthroughs in cultivation are the primary reasons driving the rise of the legal marijuana market. Marijuana use as a recreational drug is illegal in many countries around the world. Several countries, including Uruguay and Canada, as well as several states in the United States, have legalised the production, sale, and possession of marijuana for recreational and medical purposes as a result of long-fought legalisation efforts. The broad legalisation of marijuana in this manner can have a wide range of consequences for the economy and society in which it is legalised. Legalization allows governments to regulate marijuana cultivation and sales by application, ensuring its contribution to the country’s GDP. Legalization also aids in the dismantling of cartels and black-market dealers, as well as the reduction of associated crime rates. Marijuana legalisation has benefited public health and safety. The primary goal of marijuana legalisation in Canada is to protect public health and safety. According to the Centre for Addiction and Mental Health (Canada), legalisation, in conjunction with strict healthâ€TMfocused regulation, offers the opportunity to reduce the harms associated with marijuana use. Existing marijuana users who buy frequently expect to buy more frequently after legalisation. At the same time, less frequent consumers anticipate purchasing products more frequently and spending significantly more when they do. As a result of increased legalisation, demand for marijuana will rise, propelling the global legal marijuana market forward.
The astute research report on Legal Marijuana market provides intricate details for analyzing appropriate parameters and valuable insights. The report offers extensive information about this business to help bring forth the growth potential of the market across various segments and provides the clients with a comprehensive analysis of factors like market size, market growth trends, competitive landscape, product utilization, regional growth prospects, and application potential, etc. The data provided in the report has been gathered from a wide variety of sources by using primary and secondary research. This Legal Marijuana research report also provides crucial insights into consumer behaviour, brand positioning, pricing analysis, and key player strategies. The market overview included in the Legal Marijuana research report incorporates critical factors procured from industry analysts, prominent players as well as trade and industrial organizations.
The report on Legal Marijuana market offers up-to-date information on the factors impeding the market growth which shall provide vendors with crucial insights into understanding the market dynamics thereby aiding the clients to sketch out a better business strategy. These factors will help them identify market growth opportunities. Furthermore, FutureWise research analysts provide timely assistance to their customers in understanding eccentric market parameters more effectively thereby leading to better decision-making.
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The Legal Marijuana market research report is segmented – by product type, by species, by strain, by purchase channel, by application, by end user, and by region. It also consists of insights regarding the revenue value and sales volume during the forecasted timeframe of 2022 to 2028.
Legal Marijuana Market Segmentation:
By Product Type
Buds / marijuana Flower
Cannabis Extracts
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
Recreational
Cosmetics & Others
By End-User
Pharmaceutical
Food, Beverages, and Tobacco
Personal Care
Research and Development Centres
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Legal Marijuana Market Regional Analysis:
The report provides a complete evaluation of the potential amplification of the Legal Marijuana Market in pivotal geographic regions such as North America, Asia Pacific, Europe, Latin America and Middle East & Africa.
Competitive Landscape:
Some of the key market players are
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.
FutureWise Key Takeaways:
Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth
Objectives of the Study:
To provide an extensive analysis of the global Legal Marijuana market by product type, by species, by strain, by purchase channel, by application, by end user, and by region
To carter complex data and information on the characteristics influencing the market growth (drivers, restraints, opportunities, and industry-specific restraints)
To predict and assess micro-markets and the overall market
To anticipate the market size, in key geographical regions (along with countries)— North America, Europe, Asia Pacific, Latin America and the Middle East and Africa
To estimate and inspect competitive landscape mapping- technological advancements, product launches, mergers and expansions
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