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MarketResearch.biz delivers in-depth insights on the global legal marijuana market in its upcoming report titled, “Global Legal Marijuana Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global legal marijuana market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global legal marijuana market report has been segmented on the basis of type, product type, application, and region.
Marijuana is a green, brown, or gray mixture of dried, shredded leaves, stems, seeds, and flowers of the cannabis plant. Marijuana contains more than 400 chemicals. Marijuana can be used for various medical and recreational purposes.
Legalization of marijuana by developed countries for medical purposes where compounds in marijuana can be used for treatment of various chronic diseases such as cancer AIDS, ALS, Crohn’s disease, and Parkinson’s and increasing R&D activities and government expenditure on healthcare sector demands for cannabis for clinical use and are major factors driving growth of the global legal marijuana market. In addition, increasing incidence of chronic diseases among population and various beneficial chemicals found in marijuana , which can be used for relief from chronic pain, reduce nausea and vomiting and stimulate appetite during chemotherapy are other factors expected to support growth of the global legal marijuana market. Moreover, rising mental disorder and presence of tetrahydrocannabinol chemical in marijuana that can be used to treat mental disorder is another factor expected to boost growth of the global legal marijuana market.
However, stringent government regulations related to use of marijuana as it may have short term and long term side effects on health is a major factor restraining growth of the global legal marijuana market. in addition, common side effects of marijuana such as increased talkativeness and laughter alternating with periods of introspective dreaminess, lethargy and sleepiness is expected to challenge growth of the global legal marijuana market.
Recent trends observed in legal marijuana market is use of G-pen for medical purpose that appears as an electronic cigarette and it does not produce smoke or any odor.
North America market is expected to dominate in the global legal marijuana market with higher revenue share as compared to other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing pool of patient suffering from chronic diseases, well developed healthcare sector and favorable reimbursement policies. According to Drug Policy Alliance, the recreational use of marijuana is legal in Washington, D.C. and four states: Colorado, Washington, Oregon and Alaska. In addition, in 2014, the first full year of legalization, Colorado collected over $76 million in marijuana taxes and fees. Europe market accounts for second-largest revenue share in the global legal marijuana market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. According to Drug Policy Alliance in 2013, Uruguay became the first country in the world to approve the legal regulation of marijuana for adult use. The market in Asia Pacific is projected to register fastest growth in terms of revenue, owing increasing government expenditure on healthcare sector in emerging economies in this region.
Global Legal Marijuana Market Segmentation:
By Marijuana Type:
By Product Type:
- Chronic Pain
- Mental Disorders
- Others (AIDS, ALS, Parkinson’s)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Canopy Growth Corporation
- Aphria, Inc.
- Aurora Cannabis Inc.
- Maricann Group, Inc.
- The Cronos Group
- Organigram Holdings, Inc.
- ABcann Medicinals, Inc.
- Tikun Olam
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