The global demand for Legal Marijuana Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Several countries have legalized possession, distribution, cultivation, and consumption of marijuana for medical and recreational purposes. And, in most nations, these policies are regulated by the United Nations Single Convention on Narcotic Drugs. Marijuana is available in several forms in the market, buds, oil, and tinctures. The medical application of this psychoactive drug is subjected to chronic pain, mental disorders, cancer, and other neurological diseases. The Adult-use of marijuana can range from being used as a food ingredient to a psychoactive drug.
With the soar in the use of legal marijuana for medical and adult-use, the global demands for the same are anticipated to grow significantly. Moreover, the growing need for pain management treatments along with the rising burden of chronic pain among the geriatric population is anticipated to lift the product demand. However, the COVID-19 pandemic has imposed several restrictions in terms of the buying capability of consumers and seamless trade. This acts as a key challenge for the legal marijuana market. On the other side, the scope of marijuana in treating several ailments, cancer, anxiety, and Parkinson’s and Alzheimer’s disease is anticipated to bode well for product penetration in the global market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of legal marijuana.
The entire legal marijuana market has been sub-categorized into type, product type and medical application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Product Type
By Medical Application
- Chronic Pain
- Mental Disorders
This section covers regional segmentation which accentuates on current and future demand for legal marijuana market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Legal Marijuana Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the legal marijuana market include Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, GW Pharmaceuticals, plc, Lexaria Corp., United Cannabis Corporation, Tikun Olam, Ltd., Cannabis Sativa, Inc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.