Legal Marijuana Market Size, Share, Growth Report 2032

Legal Marijuana Market

Legal Marijuana Market - By Application (Chronic Pain, Mental Disorders, and Cancer), By Type (Medical Marijuana and Recreational Marijuana), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Category: Pharmaceutical Report Format : PDF Pages: 172 Report Code: ZMR-3423 Published Date: Dec-2021 Status : Published

The global Legal Marijuana Market accrued earnings worth approximately 10.1 (USD Billion) in 2020 and is predicted to gain revenue of about 70.7(USD Billion) by 2028, is set to record a CAGR of nearly 27.1% over the period from 2021 to 2028.

Legal Marijuana Market Size

The global Legal Marijuana Market accrued earnings worth approximately 10.1 (USD Billion) in 2020 and is predicted to gain revenue of about 70.7(USD Billion) by 2028, is set to record a CAGR of nearly 27.1% over the period from 2021 to 2028. The report offers assessment and analysis of the Legal Marijuana Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Legal Marijuana Market: Outlook

Marijuana, which is also referred as cannabis, is a natural psychoactive medicinal herb derived from cannabis plant. Apart from this, legalized marijuana is also utilized for recreational purposes. In addition to this, the product is utilized for reducing nausea as well as vomiting during chemotherapy treatment for cancer patients. Furthermore, marijuana is also utilized in treating chronic pain and muscle spasms. Many countries in North America and Latin America have legalized use of marijuana for medicinal purpose and hence the move is likely to be followed by European countries and other sub-continents in near future.

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Legal Marijuana Market: Growth Drivers

The legalization of marijuana in countries such as Canada, Uruguay, and the U.S. along with its utilization for treating cancer, Parkinson's, stress, Alzheimer's, neurological conditions, and arthritis will steer the growth of the legal marijuana market. In addition to this, increment in proficient pain management therapeutics for treating patients having chronic pain in aging populace as well as adult persons will promulgate market growth. Nevertheless, rise in hydroponically harvested marijuana and ease in the harvesting of such high-quality products will offer a slew of growth avenues for the legal marijuana market in upcoming years.

With rise in popularity of cannabis oil in countries that have legalized medical marijuana, the growth of the market for legal marijuana is projected to gain momentum in ensuing years. Medical marijuana is also used for treating epilepsy in children. However, social stigma related to smoking of cannabis and adverse impact of smoking of cannabis on human health can disrupt growth of legal marijuana market.  

Report Scope:

 

Legal Marijuana Market: Regional Landscape

North America Market To Account Majorly Towards Regional Landscape By 2028

Growth of legal marijuana market in North America over assessment period is due to favorable government laws and legalization of medicinal cannabis in countries such as Canada and the U.S. In addition to this, major marijuana cultivators in sub-continent along with rise in product sales in retail sector will embellish regional market trends.

Legal Marijuana Market: Competitive Landscape

Key players included in report and steering growth of legal marijuana market are Canopy Aphria, Inc., CV Sciences, Aurora Cannabis, Growth Corporation, Tilray, Maricann Group, Inc., Meadow Care, Bhang Corporation, Organigram Holdings, Inc., IRIE CBD, The Cronos Group, ABcann Medicinals, Inc., Folium Biosciences, Tikun Olam, Elixinol, and CBD American Shaman.  

The global Legal Marijuana Market is segmented as follows:

By Application

  • Chronic Pain
  • Mental Disorders
  • Cancer

By Type

  • Medical Marijuana
  • Recreational Marijuana

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

Legalization of marijuana in countries such as Canada, Uruguay, and the U.S. along with its utilization for treating cancer, Parkinson, stress, Alzheimer, neurological conditions, and arthritis will steer growth of legal marijuana market. In addition to this, increment in proficient pain management therapeutics for treating patients having chronic pain in aging populace as well as adult persons will enlarge scope of legal marijuana market growth in foreseeable future. Nevertheless, rise in hydroponically harvested marijuana and ease in harvesting of such high quality products will offer slew of growth avenues for legal marijuana market in upcoming years. With rise in popularity of cannabis oil in countries that have legalized medical marijuana, the growth of market for legal marijuana is projected to gain momentum in ensuing years. Medical marijuana is also used for treating epilepsy in children.  

According to Zion market research report, the global Legal Marijuana Market accrued earnings worth approximately 10.1 (USD Billion) in 2020 and is predicted to gain revenue of about 70.7(USD Billion) by 2028, is set to record a CAGR of nearly 27.1% over the period from 2021 to 2028.

North America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to favorable government laws and legalization of medicinal cannabis in countries such as Canada and the U.S. In addition to this, major marijuana cultivators in sub-continent along with rise in product sales in retail sector will embellish regional market trends.     

The key market participants include Canopy Aphria, Inc., CV Sciences, Aurora Cannabis, Growth Corporation, Tilray, Maricann Group, Inc., Meadow Care, Bhang Corporation, Organigram Holdings, Inc., IRIE CBD, The Cronos Group, ABcann Medicinals, Inc., Folium Biosciences, Tikun Olam, Elixinol, and CBD American Shaman. 

 

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