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Legal Marijuana Market

Legal Marijuana Market Size, Share & Trends Analysis Report By Type (Medical, Recreational), By Product (Buds, Oils, Tinctures), By Application (Chronic Pain, Neurological Disorders, Cancer, Others), and By Region | Global Market Forecasts 2022 - 2028

Report Id: SNS/HC/1046 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Legal Marijuana market size was valued at USD 13.5 billion in 2021 and is supposed to grow at a CAGR of 25.2% from 2022 to 2028. the legal marijuana market is estimated to reach 66 billion by 2028. The developing interest in Legal Marijuana has been an essential variable in the development of the market. As of late, countless nations have sanctioned the utilization of clinical marijuana for treating different afflictions. Various investigations did demonstrate the way that clinical marijuana and its subordinates can be utilized to treat side effects of different illnesses, for e.g., it has been effectively used to treat patients with constant torment, chemotherapy-prompted sickness, Parkinson's, Alzheimer's, and other neurological infections. The FDA and other such affiliations have now begun tolerating the marijuana subsidiaries for the solution of illnesses which has shown to be helpful. This is one more component for the fast circle back of its legitimate status in a lot of nations.

Legal Marijuana Market

Market Dynamics

Driving factors:

The legal marijuana market is expected to grow in the coming year as more people become aware of the benefits of medical marijuana. Furthermore, the legalization of marijuana in a few countries for clinical trials is predicted to provide drug companies with lucrative freedoms, which could fuel the marijuana market within the forecasted time frame. Furthermore, marijuana can provide relief from persistent pain, and sleep issues are likely to increase interest in medical marijuana, which might help the medical marijuana industry grow in the near future. Furthermore, the expansion of the marijuana industry to combat sickness is likely to increase demand for natural leaves, which will fuel the market in the near future.

Restraints:

The burden of severe laws and regulations is the primary constraint on Marijuana Market Growth. Furthermore, several countries have imposed stringent laws and guidelines in relation to the use of cannabis based on its outcome, which could stymie the medical marijuana market in the coming years. Furthermore, the use of marijuana for sporting design is essential to avoid an adverse effect on human health that might effectively stifle the marijuana market's growth.

Opportunities:

Expanding marijuana authorization is expected to provide a significant opportunity for the legal marijuana market to expand. The growing sanctioning and licensing of medical and legal marijuana in several countries is expected to provide lucrative economic opportunities in the near future. Furthermore, as people become more aware of the benefits, demand is projected to rise, potentially allowing different freedoms to expand the legal marijuana industry.

Challenges:

Rigid approval procedures are seen as a serious obstacle that could limit the legal marijuana market's expansion. Furthermore, the availability of stringent approval techniques in various countries' administrative collections is likely to be a key test in the rise of legal marijuana states. Also, the presence and accessibility of international companies, as well as the difficulties they face as a result of intense competition between local and national brands, are expected to have an impact on the legal marijuana industry's growth.

Impact of Covid-19

The development of COVID-19 is expected to stymie the marijuana industry for the foreseeable future because to the inconvenience of the shutdown in many countries. The clinical business, on the other hand, has exploded during the COVID-19 period. In any event, the COVID-19 epidemic has resulted in lockdowns from one end of the globe to the other, depleting crude materials stocks and disrupting manufacturing, and so disrupting the global marijuana retail network. Because of the growing focus on antibody production, the growth of the marijuana market is likely to be hampered.

Market Segmentation:

By Type

  • Medical

  • Recreational

By Product

  • Buds

  • Oils

  • Tinctures

By Application

  • Chronic Pain    

  • Neurological Disorders 

  • Cancer

  • Others

The legal marijuana market is divided into three categories: type, application, and product. The growth of these segments will aid in the analysis of low growth segments in the sectors, as well as give users a comprehensive market overview and industry insights to assist them in making strategic decisions for finding core market applications.

Legal Marijuana market

Regional Analysis:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

The nations canvassed in the legitimate marijuana market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of , Japan, India,  china, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Europe in Europe, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, Egypt, U.A.E, South Africa, Israel, Rest of Middle East and Africa (MEA) as a piece of , Brazil, Middle East and Africa (MEA), Argentina and Rest of South America as a feature of South America.

Major Market Players:

Canopy Growth Corporation, GBSciences Inc, CanniMed Ltd, Cannabis Sativa Inc, GW Pharmaceuticals Plc, Aphria, Pfizer Inc., Emerald Health Therapeutics Inc, Medical Marijuana Inc, MediPharm Labs, and others.

 

Legal Marijuana Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 13.5 Billion
Market Size by 2028 US$ 66 Billion
CAGR CAGR of 25.2% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Medical, Recreational)
• By Product (Buds, Oils, Tinctures)
• By Application (Chronic Pain, Neurological Disorders, Cancer, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Canopy Growth Corporation, GBSciences Inc, CanniMed Ltd, Cannabis Sativa Inc, GW Pharmaceuticals Plc, Aphria, Pfizer Inc., Emerald Health Therapeutics Inc, Medical Marijuana Inc, MediPharm Labs, and others.


Frequently Asked Questions (FAQ) :

The market size was esteemed at USD 31.59 billion in 2021 and is supposed to extend at a compound annual growth rate (CAGR) of 23.4% from 2021 to 2028.

Oil and tinctures are sub-segments of products that lead the market.

Segments of the Legal Marijuana Market are by product, by type, by application.

Canopy Growth Corporation, GBSciences Inc., CanniMed Ltd, Cannabis Sativa Inc, and GW Pharmaceuticals Plc these are the key players in the Legal Marijuana Market.

Manufacturer and service provider, research institutes, universities, and private libraries, suppliers, and distributors.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Legal Marijuana Market Segmentation, by Type

8.1 Medical

8.2 Recreational

 

9. Global Legal Marijuana Market Segmentation, by Product

9.1 Buds

9.2 Oils

9.3 Tinctures

 

10. Global Legal Marijuana Market Segmentation, By Application

10.1 Chronic Pain    

10.2 Neurological Disorders 

10.3 Cancer

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2  Canada

11.2.3  Mexico

11.3     Europe

11.3.1  Germany

11.3.2  UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4     Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5     The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6     Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

 

12. Company Profiles

12.1 Canopy Growth Corporation

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 GBSciences Inc.

12.3 CanniMed Ltd

12.4 Cannabis Sativa Inc

12.5 GW Pharmaceuticals Plc

12.6 Aphria

12.7 Pfizer Inc.

12.8 Emerald Health Therapeutics Inc. (Victoria, BC)

12.9 Medical Marijuana Inc

12.10 MediPharm Labs.

 

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.

Step 4: QA/QC Process

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