The Legal Marijuana Market size was valued at USD 16.90 billion in 2022 and is supposed to grow at a CAGR of 25.2% from 2023 to 2030. the legal marijuana market is estimated to reach 102.04 billion by 2030.
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.
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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.
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.
By Type
Medical
Recreational
By Product
Buds
Oils
Tinctures
By Application
Chronic Pain
Neurological Disorders
Cancer
Others
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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.
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.
The Major Players are 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.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 16.90 Billion |
| Market Size by 2030 | US$ 102.04 Billion |
| CAGR | CAGR of 25.2% From 2022 to 2028 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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. |
ANs: The Legal Marijuana Market size eas valued at US$ 16.90 billion in 2022.
Ans: The Legal Marijuana Market size is to grow at a CAGR of 25.2% over the forecast period 2023-2030.
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 Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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
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