This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Legal Cannabis Market.
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According to the report Legal Cannabis Market�is projected to register high demand during the forecast period with increasing legalization and use from major applications such as medical and recreational during the forecast period.
What is Cannabis?
Cannabis is also known as marijuana. It is a kind of cannabis plant substance that is used both for recreational and medical purposes. The growing use of cannabis as a prescription drug for the treatment of severe medical conditions such as cancer, Parkinson’s disease, Alzheimer’s disease, arthritis, and other neurological conditions was expected to drive demand in the years ahead. An increasing the need for pain management therapies and rising disease burden of chronic pain among elders could also fuel demand.
In some countries, the legalization of medicinal marijuana and decriminalization has led to a significant reduction in the black market, as people resort to the legal purchase of cannabis for both medicinal and recreational use. In addition, government income from taxes is also seen as a way for countries to earn income.
With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Cannabis Science Inc., Organigrams Holding Inc., Aurora Cannabis Inc., Canopy Growth Corporation, Terra Tech Corp, TikunOlam, Maricann Group Inc., and Hexo…
Key Factors Impacting Market Growth:
o Increasing use of medical cannabis to treat various patients
o Legalization in certain nations of America and Europe
This report provides:
1) an overview of Global Legal Cannabis Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotional plans for Global Legal Cannabis Market devices
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.
The researchers have studied the market in-depth and have come up with major segments like product type, application and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.
Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.
During the forecast period, North America, Western Europe and by region the Asia Pacific is estimated to dominate the legal cannabis market. These regions were the market leaders in terms of technological developments and advanced medical treatments for the overall healthcare sector.
The legalization of medicinal cannabis in European countries, accompanied by strict rules and regulations on the sale and cultivation of products, may restrict overall growth in Europe and, in turn, in the global market. Many promising Cannabis markets include Canada, Germany, Poland, Colombia, Uruguay, and Israel. At the moment Israel is at the forefront of bringing technology and information transfer to other world markets.
As with the emerging economies, like the UK and Thailand is developing its legal cannabis system, with revenue growth projected to see significant growth. However, countries such as South Africa and New Zealand are debating legalization for cannabis and may emerge in the coming years as viable markets.
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Market Segmentation:
By Compound:
THC-Dominant
CBD-Dominant
Balanced THC
CBD
By Application:
Medical
Recreational
By Type:
Flowers
Concentrates
By Region:
North America
By Country (US, Canada, Mexico)
By Compound
By Application
By Type
South America
By Region (South America, Africa)
By Compound
By Application
By Type
Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Compound
By Application
By Type
Rest of the world
By Region (America, Africa)
By Compound
By Application
By Type
Reasons To Buy This Report:
Market size estimation of the cannabis market on a regional and global basis
The unique research design for market size estimation and forecast
Profiling of major companies operating in the market with key developments
Broad scope to cover all possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
By Segment
By Sub-segment
By Region/Country
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