October 2, 2022

The latest research study “Legal Cannabis Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global legal cannabis market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.

Legal Cannabis Market Overview : 

Cannabis is a tall, erect plant that is utilised as a narcotic due to its psychotropic qualities. It is made from a trio of cannabis plants: Sativa, Indica, and Ruderalis. Cancer, arthritis, migraines, glaucoma, epilepsy, multiple sclerosis, Parkinson’s, Alzheimer’s, Tourette’s, amyotrophic lateral sclerosis (ALS), AIDS, and post-traumatic stress disorder are among the symptoms and disorders that cannabis is known to cure (PTSD). Medical professionals and doctors advise using cannabis-based medicines to treat depression, inflammatory bowel syndrome, chronic pain, anxiety, and diabetes.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Legal Cannabis Market Trends and Drivers:

The global legal cannabis market is primarily driven by the growing medical applications of the plant. The rising geriatric population that needs medicine for chronic pain is also fueling the market growth. In addition to this, the positive effect of cannabis legalization on public health and safety is propelling the market growth.

Governments and international agencies across countries such as the United States and Canada are regulating cannabis cultivation and sales by application, ensuring its contribution to the GDP of the nations. Nowadays, doctors are prescribing cannabis oil to children, which is showing tremendous benefits for treating disorders such as epilepsy, Dravet syndrome, and Lennox-Gastaut syndrome.

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Furthermore, the increasing number of legal cannabis dispensaries, along with the growing research and clinical trials, is expected to positively impact the market in the upcoming years.

Global Legal Cannabis Market 2022-2027 Analysis and Segmentation:

 Competitive Landscape:

 The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corporation, Green Thumb Industries, GW Pharmaceuticals plc (Jazz Pharmaceuticals plc), HEXO Corp., Organigram Holdings Inc., Sundial Growers Inc., The Cronos Group, The Green Organic Dutchman Holdings Ltd., The Scotts Miracle-Gro Company, Tilray and VIVO Cannabis Inc.

The report has segmented the market on the basis of region, source, derivatives, distribution channel and end user.

Breakup by Source:

  • Marijuana
  • Hemp

Breakup by Derivatives:

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)

Breakup by Distribution Channel:

  • Recreational Stores
  • Pharmacies
  • Online Stores
  • Others

Breakup by End User:

  • Medical Use
  • Recreational Use
  • Industrial Use

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/legal-cannabis-market

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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 Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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