Marijuana refers to dried leaves, flowers, stems, and seeds from the Cannabis sativa or Cannabis indica plant. This herb is often used as a recreational drug for different types of illnesses. Marijuana is legal for recreational and medical use, as well as for cultivation, possession, and distribution in many countries. Thus, there is an increasing demand for marijuana worldwide.
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Market Dynamics:
Increasing prevalence of chronic and neurological disease, rise in usage of marijuana for medicinal and recreational purposes, increasing number of countries legalizing the use of medical marijuana, and favorable government initiatives/programs are major factors expected to drive growth of the global legal marijuana market size. For instance, in January 2021, Aurora Cannabis Inc. entered into a strategic agreement with MedReleaf Australia. MedReleaf to act as exclusive supplier in Australia of Aurora's MedReleaf, CanniMed and Aurora brands. Products covered by the agreement will be EUGMP certified and include dried flower, oils, and soft gels, as well as future products employing new delivery mechanisms. The companies have signed a five-year supply agreement.
Key features of the study:
- This report provides in-depth analysis of the global legal marijuana market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global legal marijuana market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Tilray, Aphria, Inc., Wayland Group Corp., Aurora Cannabis, Canopy Growth Corporation, and GW Pharmaceuticals, Plc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global legal marijuana market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global legal marijuana market.
Detailed Segmentation:
Global Legal Marijuana Market, By Application:
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Others
- Recreational
Global Legal Marijuana Market, By Product Type:
- Buds
- Oils
Global Legal Marijuana Market, By Geography:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Company Profiles
- Tilray
- Aphria, Inc.
- Wayland Group Corp.
- Aurora Cannabis
- Canopy Growth Corporation
- GW Pharmaceuticals, Plc.
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