Legal Marijuana Market - Global Industry Analysis

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

Published Date: 07-Dec-2021 Category: Pharmaceutical Report Format : PDF Pages: 172 Report Code: ZMR-3423 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.

Description

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 recreation purpose. 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.

Global Heat Treating Market

Legal Marijuana Market: Growth Drivers

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 promulgate market growth. 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. 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:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

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.

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

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. Legal Marijuana Market, 2018–2028(USD Billion)
    • 2.2. Legal Marijuana Market: Snapshot
  • Chapter 3. Global Legal Marijuana Market– Industry Analysis
    • 3.1. Legal Marijuana Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Legalization of marijuana in countries such as Canada, Uruguay, and the U.S. along with its utilization for treating cancer, Parkinson, stress, Alzheimer, neurulogical conditions, and arthritis will steer growth of legal marijuana market.
      • 3.2.2. Increase in proficient pain management activities for treating patients having chronic pain in geriatric persons as well as adult persons will drive business landscape.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Application
      • 3.4.2. Market attractiveness analysis By Type
  • Chapter 4. Global Legal Marijuana Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Legal Marijuana Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Legal Marijuana Market– Application Analysis
    • 5.1. Global Legal Marijuana Market overview: By Application
      • 5.1.1. Global Legal Marijuana Market share, By Application, 2020 and 2028
    • 5.2. Chronic Pain
      • 5.2.1. Global Legal Marijuana Market by Chronic Pain, 2018–2028(USD Billion)
    • 5.3. Mental Disorders
      • 5.3.1. Global Legal Marijuana Market by Mental Disorders, 2018–2028(USD Billion)
    • 5.4. Cancer
      • 5.4.1. Global Legal Marijuana Market by Cancer, 2018–2028(USD Billion)
  • Chapter 6. Global Legal Marijuana Market– Type Analysis
    • 6.1. Global Legal Marijuana Market overview: By Type
      • 6.1.1. Global Legal Marijuana Market share, By Type, 2020 and 2028
    • 6.2. Medical Marijuana
      • 6.2.1. Global Legal Marijuana Market by Medical Marijuana, 2018–2028(USD Billion)
    • 6.3. Recreational Marijuana
      • 6.3.1. Global Legal Marijuana Market by Recreational Marijuana, 2018–2028(USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. Canopy Aphria, Inc.
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Product Portfulio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. CV Sciences
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Product Portfulio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Aurora Cannabis
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Product Portfulio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Development
    • 7.4. Growth Corporation
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Product Portfulio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Development
    • 7.5. Tilray
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Product Portfulio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. Maricann Group, Inc.
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Product Portfulio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. Meadow Care
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Product Portfulio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. Bhang Corporation
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Product Portfulio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development
    • 7.9. Organigram Huldings, Inc.
      • 7.9.1. Overview
      • 7.9.2. Financials
      • 7.9.3. Product Portfulio
      • 7.9.4. Business Strategy
      • 7.9.5. Recent Development
    • 7.10. IRIE CBD
      • 7.10.1. Overview
      • 7.10.2. Financials
      • 7.10.3. Product Portfulio
      • 7.10.4. Business Strategy
      • 7.10.5. Recent Development
    • 7.11. The Cronos Group
      • 7.11.1. Overview
      • 7.11.2. Financials
      • 7.11.3. Product Portfulio
      • 7.11.4. Business Strategy
      • 7.11.5. Recent Development
    • 7.12. ABcann Medicinals, Inc.
      • 7.12.1. Overview
      • 7.12.2. Financials
      • 7.12.3. Product Portfulio
      • 7.12.4. Business Strategy
      • 7.12.5. Recent Development
    • 7.13. Fulium Biosciences
      • 7.13.1. Overview
      • 7.13.2. Financials
      • 7.13.3. Product Portfulio
      • 7.13.4. Business Strategy
      • 7.13.5. Recent Development
    • 7.14. CBD American Shaman
      • 7.14.1. Overview
      • 7.14.2. Financials
      • 7.14.3. Product Portfulio
      • 7.14.4. Business Strategy
      • 7.14.5. Recent Development
    • 7.15. Elixinul
      • 7.15.1. Overview
      • 7.15.2. Financials
      • 7.15.3. Product Portfulio
      • 7.15.4. Business Strategy
      • 7.15.5. Recent Development
    • 7.16. Tikun Olam
      • 7.16.1. Overview
      • 7.16.2. Financials
      • 7.16.3. Product Portfulio
      • 7.16.4. Business Strategy
      • 7.16.5. Recent Development

Table Of Figures

List of Figures

1. Market research Type
2. Market research methodology
3. Global Legal Marijuana Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Legal Marijuana Marketattractiveness, By Application
6. Global Legal Marijuana Marketattractiveness, By  Type
7. Global Legal Marijuana Marketshare by Application ,2020 and 2028 (USD Billion)
8. Global Legal Marijuana Marketby Chronic Pain, 2018–2028(USD Billion)
9. Global Legal Marijuana Marketby Mental Disorders, 2018–2028(USD Billion)
10. Global Legal Marijuana Marketby Cancer, 2018–2028(USD Billion)
11. Global Legal Marijuana Marketshare by  Type,2020 and 2028 (USD Billion)
12. Global Legal Marijuana Marketby Medical Marijuana, 2018–2028(USD Billion)
13. Global Legal Marijuana Marketby Recreational Marijuana, 2018–2028(USD Billion)
14. Global Legal Marijuana Marketshare, by Region, 2020 and 2028
15. North America Legal Marijuana Market, 2018–2028(USD Billion)
16. Europe Legal Marijuana Market, 2018–2028(USD Billion)
17. Asia Pacific Legal Marijuana Market, 2018–2028(USD Billion)
18. Latin America Legal Marijuana Market, 2018–2028(USD Billion)
19. The Middle East and Africa Legal Marijuana Market, 2018–2028(USD Billion)
 


Table Of Tables

List of Tables

1. Global Legal Marijuana Market: snapshot
2. Drivers of the Legal Marijuana Market: impact analysis
3. North America Legal Marijuana Market revenue, By Application  ,2018–2028(USD Billion)
4. North America Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
5. The U.S. Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
6. The U.S. Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
7. Rest of North America Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
8. Rest of North America Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
9. Europe Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
10. Europe Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
11. UK Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
12. UK Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
13. France Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
14. France Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
15. Germany Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
16. Germany Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
17. Rest of Europe Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
18. Rest of Europe Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
19. Asia Pacific Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
20. Asia Pacific Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
21. China Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
22. China Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
23. Japan Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
24. Japan Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
25. India Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
26. India Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
27. Rest of Asia Pacific Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
28. Rest of Asia Pacific Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
29. Latin America Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
30. Latin America Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
31. Brazil Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
32. Brazil Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
33. Rest of Latin America Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
34. Rest of Latin America Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
35. The Middle East and Africa Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
36. The Middle East and Africa Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
37. Saudi Arabia Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
38. Saudi Arabia Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
39. South Africa Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
40. South Africa Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)
41. Rest of the Middle East & Africa Legal Marijuana Market Revenue, By Application  ,2018–2028(USD Billion)
42. Rest of the Middle East & Africa Legal Marijuana Market Revenue, By  Type ,2018–2028(USD Billion)

 
 

Methodology

Free Analysis

Cannabis is a flowering plant, with several varieties. Marijuana and hemp are two cannabis varieties. Cannabinoids (THC) is highly psychoactive in nature and leads to intoxication. Thus, marijuana or cannabis is not legalized in several countries globally. Marijuana is a greenish-gray color mixture of dried flowers of cannabis sativa. The global expansion of the legal marijuana market is due to the growing marijuana adoption for various medical treatments, such as mental disorders, chronic pain, cancer, etc. Some countries are in the process of decriminalizing recreational marijuana as well.

The growth in the global legal marijuana market is driven by cannabis legalization for medical and recreational purposes in various countries around the world. Huge investments made for the research and development of safe marijuana for ingesting, such as oils, tinctures, and vapes, among other edibles, is also expected to fuel the legal marijuana market in the future.

Global Legal Marijuana Market

Legal marijuana market is segmented on the basis of type, product type, and application. Based on the type, this market is bifurcated into medical marijuana and recreational marijuana. By product type, the market is segmented into buds, oil, and tinctures. On the basis of application, the legal marijuana market is divided into chronic pain, mental disorders, cancer, and others. 

Based on geography, the global legal marijuana market is segmented into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America and Europe accounted for largest shares in the global legal marijuana market in the year 2017 and are expected to register significant growth over the forecast years. The legalization of cannabis in the U.S. for recreational and medical purposes this market’s growth in North America. In terms of growth rate, Asia Pacific is estimated to register the highest CAGR in the global legal marijuana market over the forecast timeframe. 

Some of the leading players in legal marijuana market include Canopy Aphria, Inc., Aurora Cannabis, Growth Corporation, Tilray, Maricann Group, Inc., Meadow Care, Organigram Holdings, Inc., The Cronos Group, ABcann Medicinals, Inc., Folium Biosciences, Tikun Olam, IRIE CBD, Elixinol, Bhang Corporation, CV Sciences, and CBD American Shaman. The number of companies operational in the marijuana market is growing, which is anticipated to augment the variety and quantity of products supplied to the end-users. Marijuana oil has started gaining popularity over the last few years, due to its amplified safety and effectiveness in comparison to smoking pot. Moreover, increasing research and development activities related to cannabis manufacturing has led to the introduction of newer marijuana strains. The advancements made in the research field and product development are projected to further boost the adoption of marijuana products among consumers.

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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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