Legal Marijuana Market Overview :
Marijuana is a greenish-gray mixture of dried leaves of the plant Cannabis sativa. Marijuana is also commonly known as Cannabis, and Hemp. Many countries are allowing the sale of marijuana for recreational purposes owing to excessive tax revenue generated from the market. Besides, consumption of marijuana in some countries is banned because it is perceived as addictive, and has been linked with narcotics such as Heroin. They are frequently mixed into foods such as cookies, brownies, and candies. Stronger form of marijuana includes sinsemilla (from special cultivated female plants) and concentrated resins comprising high-doses of marijuana’s active ingredients that are waxy budder, honeylike hash oil, and hard amberlike shatter.
The factors that drive the global legal marijuana market is upsurge in demand for marijuana in medical sector, in the treatment of glaucoma, used to cure asthma and respiratory disorders, slows progression of Alzheimer’s disease, reduces muscle spasm, helps to decrease the disorder called Dravet's syndrome, and others. Despite loads of medical applications of marijuana, it causes addiction towards this drug, creates hallucinations, and lowers reaction time which may hamper the market growth. Moreover, R&D helping to manufacture cheap & fast-charging batteries, and usage of marijuana to develop new forms of renewable plastic may generate profitable growth opportunities for the market in the forecast period.
The global legal marijuana market is mainly segmented into consumption, application, and geography. By consumption the market classified as solid, liquid, inhalation, and topicals. On the basis of application, the market is further categorized into medicinal, and recreational. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are American Cannabis, Greengro, Medical Marijuana, Mentor Capital, Canopy Growth, Aurora Cannabis Inc., Medicine Man, Teratech, mCig, and United Cannabis, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Legal Marijuana Market with respect to major segments such as consumption, and applications
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Legal Marijuana Market has been included in the report
- Profile of the key players in the Global Legal Marijuana Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Legal Marijuana Market
Consumption Type Segments
- Chronic Pain
- Other Medical Treatments
- North America
- South America
- South Africa