PUBLISHER: Value Market Research | PRODUCT CODE: 1547994
PUBLISHER: Value Market Research | PRODUCT CODE: 1547994
The global demand for Legal Marijuana Market is presumed to reach the market size of nearly USD 149.99 Billion by 2032 from USD 20.78 Billion in 2023 with a CAGR of 24.56% under the study period 2024-2032.
Several countries have legalized possession, distribution, cultivation, and consumption of marijuana for medical and recreational purposes. And, in most nations, these policies are regulated by the United Nations Single Convention on Narcotic Drugs. Marijuana is available in several forms in the market, buds, oil, and tinctures. The medical application of this psychoactive drug is subjected to chronic pain, mental disorders, cancer, and other neurological diseases. The Adult-use of marijuana can range from being used as a food ingredient to a psychoactive drug.
With the soar in the use of legal marijuana for medical and adult-use, the global demands for the same are anticipated to grow significantly. Moreover, the growing need for pain management treatments along with the rising burden of chronic pain among the geriatric population is anticipated to lift the product demand. However, the COVID-19 pandemic has imposed several restrictions in terms of the buying capability of consumers and seamless trade. This acts as a key challenge for the legal marijuana market. On the other side, the scope of marijuana in treating several ailments, cancer, anxiety, and Parkinson's and Alzheimer's disease is anticipated to bode well for product penetration in the global market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Legal Marijuana. The growth and trends of Legal Marijuana industry provide a holistic approach to this study.
This section of the Legal Marijuana market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Legal Marijuana market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Legal Marijuana market include Canopy Growth Corporation, Aurora Cannabis Inc., Tilray Brands Inc. (Aphria Inc.), Abcann Medicinals Inc. (Vivo Cannabis Inc.), The Cronos Group, Maricann Inc., Organigram Holdings Inc., Lexaria Bioscience, Gw Pharmaceuticals (Jazz Pharmaceuticals Inc.), Tikun Olam, United Cannabis Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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