Global Legal Marijuana Market, By Type (Recreational Marijuana, Medical Marijuana), Application (Chronic Pain, Mental Disorders, Cancer, Others), Product Type (Buds, Oils, Tinctures, Others) – Industry Trends and Forecast to 2029.
Global Legal Marijuana Market Analysis and Size
In the past years, use of marijuana as a recreational drug has been outlawed in numerous countries. Countries such as Uruguay and Canada along with several states in the U.S. have legalized the production, sale, and possession of marijuana for medical and recreational usage owing to the result of long-fought legalization efforts.
Global Legal Marijuana Market was valued at USD 22.93 billion in 2021 and is expected to reach USD 131.88 billion by 2029, registering a CAGR of 20.50% during the forecast period of 2022-2029. “Oils” accounts for the largest product type segment owing to the high usage of cannabis or marijuana oil in countries, like the U.S., Canada, and Colombia, among others.
Global Legal Marijuana Market Definition
Marijuana refers to green, brown, or gray mix of dried parts of the marijuana plant. This plant is widely being used as recreational drug for various forms of diseases. The legality of marijuana for recreational and medical is being done across various regions, in terms of its cultivation, possession and distribution.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Recreational Marijuana, Medical Marijuana), Application (Chronic Pain, Mental Disorders, Cancer, Others), Product Type (Buds, Oils, Tinctures, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
VIVO Cannabis Inc. (Canada), Dr. Hemp Me. (Ireland), QC Infusion (US), Hemp Production Services (Canada), Hudson Valley Hemp, LLC. (US), Green Roads (US), Royal CBD (US), Moon Mother Hemp Company (US), CBD Oil Europe (Europe), King CBD (US), FOLIUM BIOSCIENCES (US), CV Sciences, Inc. (US), Pharmahemp d.o.o. (Slovenia), Gaia Botanicals, LLC (US), Canazil (US), Kazmira (US), Spring Creek Labs (US), Cavendish Nutrition Fulfillment LLC (US), Isodiol International Inc (Canada), HempLife Today (US), Hemp Oil Canada Inc (Canada), Medical Marijuana, Inc. (US), among others
Legal Marijuana Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Number of Legal Cannabis Countries
The increase in the number of number of legal cannabis countries acts as one of the major factors driving the growth of legal marijuana market. The legalization of the cannabis in different countries in terms of its cultivation, possession and distribution assist in the market growth.
- Use of Medical Marijuana
The use of the medical marijuana for various aliments accelerate the market growth. Medical marijuana is being administered to patients suffering from chronic illnesses, such as cancer, Parkinson's, and Alzheimer's, among neurological disorders.
- Changes in Government Policies
The changes in government policies is increasing demand for legal marijuana. Several new startups are venturing into cannabis testing, and manufacturing, among others.
Additionally, rise in awareness, prevalence of medical conditions and effectiveness of marijuana for therapeutic objectives positively impact the legal marijuana market.
Furthermore, rise and development activities to enhance the medical properties extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in investments will further expand the market.
Restraints/Challenges Global Legal Marijuana Market
On the other hand, numerous conflicting conclusions of smoking cannabis are expected to obstruct market growth. Also, respiratory infections are projected to challenge legal marijuana market in the forecast period of 2022-2029.
This legal marijuana market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the legal marijuana market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Legal Marijuana Market
The COVID-19 pandemic had a negative impact on the legal marijuana market owing to the disrupted the supply chain management of cannabis products. The supply of cannabis in dispensaries reduced due to the strict lockdown across the globe. The outbreak of COVID-19 pandemic greatly hit the export business. The disruption in the supply chain affected import as well as export business. However, an increase in the number of patients adopting cannabis as a treatment is expected grow in the post-COVID scenario.
Global Legal Marijuana Market Scope and Market Size
The legal marijuana market segmented on the basis of type, application and product type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Recreational Marijuana
- Medical Marijuana
Based on type, the legal marijuana market is segmented into recreational marijuana, and medical marijuana.
- Chronic Pain
- Mental Disorders
Based on application, the legal marijuana market is segmented into chronic pain, mental disorders, cancer, and others.
Based on product type, the legal marijuana market is segmented into buds, oils, tinctures, and others.
Legal Marijuana Market Regional Analysis/Insights
The legal marijuana market is analysed and market size insights and trends are provided by country, type, application and product type as referenced above.
The countries covered in the legal 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 Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the legal marijuana market because of the government regulations and the legalization of marijuana for medical as well as adult (recreational) use within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in number of applications for which marijuana in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The legal marijuana market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for legal marijuana market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the legal marijuana market. The data is available for historic period 2010-2020.
Competitive Landscape and Legal Marijuana Market Share Analysis
The legal marijuana market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to legal marijuana market.
Some of the major players operating in the legal marijuana market are:
- VIVO Cannabis Inc. (Canada)
- Dr. Hemp Me. (Ireland)
- QC Infusion (US)
- Hemp Production Services (Canada)
- Hudson Valley Hemp, LLC. (US)
- Green Roads (US)
- Royal CBD (US)
- Moon Mother Hemp Company (US)
- CBD Oil Europe (Europe)
- King CBD (US)
- FOLIUM BIOSCIENCES (US)
- CV Sciences, Inc. (US)
- Pharmahemp d.o.o. (Slovenia)
- Gaia Botanicals, LLC (US)
- Canazil (US)
- Kazmira (US)
- Spring Creek Labs (US)
- Cavendish Nutrition Fulfillment LLC (US)
- Isodiol International Inc (Canada)
- HempLife Today (US)
- Hemp Oil Canada Inc (Canada)
- Medical Marijuana, Inc. (US)
Research Methodology : Global Legal Marijuana Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-legal-marijuana-market
Customization Available : Global Legal Marijuana Market
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