Legal Marijuana Market Research Report - Forecast till 2027

Legal Marijuana Market Research Report: Information by Form (Buds, Oils and others), Applications (Pharmaceuticals and Recreational) and Region (North America, Europe, South America and Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/3235-HCR | February 2021 | Region: Global | 90 pages

Please note that assessment period of report has been updated from 2019-2024 to 2020-2027. Cordially fill sample form for updated data.

Legal Marijuana Market Overview

The Legal Marijuana Market is expected to arrive at USD 32.34 Billion and a CAGR of 4.11% by 2024, as per the market report analysis. The developing mindfulness about the advantages of marijuana legalization is expected to be a critical factor that can increase the legal marijuana market size during the expected time frame.


You must know that marijuana is dried leaves, stems, blossoms, or seeds of Cannabis sativa or Cannabis indica plant. But the utilization of marijuana is restricted to specific nations where it is known as Legal Marijuana. A significant portion of the Legal Marijuana utilization was seen in North America, which held 69.3% of a piece of the pie in the year 2016. Legal Marijuana is broadly utilized in the clinical area to treat different illnesses like malignant growth, numerous sclerosis, HIV/AIDS, etc. Researchers are continually exploring the Legal Marijuana species to bring out esteem added items from the cannabis strains, contributing to the development of the Legal Marijuana market. In addition, lawful cannabis is encountering appeal attributable to its sporting activities, which is projected to help develop the legal marijuana market over the forecasted time frame.


Medical marijuana legal in Texas is broadly utilized in the medical business. The best thing about medical marijuana is that it is widely utilized for treating many medical problems. Some of the popular use of medical marijuana is to treat mental issues and illnesses, persistent agony conditions, malignancy therapy, headache, joint inflammation, and much more. Due to its medical use, medical marijuana is driving the development of the global legal marijuana market to a great extent.


Because of the expanding utilization of medical marijuana in the drug business, numerous administration bodies are thinking about the legitimization of marijuana, which is required to help develop the worldwide legal marijuana market. Legitimately accessible marijuana is generally utilized for sporting purposes. The expanding utilization of marijuana by the more youthful populace and the rising expanding per capita discretionary cash flow is relied upon to drive the interest for legal marijuana. In addition, the expanding research on the utilization of pot in treating other ailments set out development open doors for the players working in the worldwide legal marijuana industry. Be that as it may, the severe standards and guidelines forced on the development of marijuana may hamper the worldwide legal marijuana market development.


Covid-19 Analysis


The rise of COVID-19 is relied upon to hinder the marijuana business during the estimated time frame attributable to the inconvenience of the lockdown in different nations. On the other hand, the clinical business has seen a blast during the COVID-19 period. In any case, the COVID-19 pandemic has caused lockdowns from one side of the planet to the other, emptying the stock of crude materials and upsetting the assembling, and thusly, the store network of marijuana items the globe. The development of the marijuana market is probably going to hamper because of the developing spotlight on making the antibody.


Market Dynamics


Drivers


Expanding awareness about the benefits of Medical Marijuana is likely to boost the legal marijuana Market development in the recent year. Furthermore, the expanding sanctioning of marijuana in a few nations for clinical designs are expected to offer rewarding freedoms to drug organizations, which may drive the marijuana market during the estimated time frame. Furthermore, marijuana can give relaxation from having constant agony, and rest troubles are probably going to upgrade the interest for medical marijuana, which may support the medical marijuana business development in the coming time frame. Besides, the development of the marijuana business to forestall disease is probably going to flood the interest for natural leaves that can fuel the exchange during the coming time frame.


Challenges


Rigid approval procedures are considered a significant challenge that may restrict the growth of the legal marijuana market. In addition, the presence of exacting endorsement strategies in administrative assortments of different nations is probably going to represent a critical test in legal marijuana states growth. Also, the presence and accessibility of worldwide brands and their difficulties looked because of enormous or rivalry between the local and national brands is likely to affect the growth of the legal marijuana industry.


Opportunities


Expanding authorization of marijuana is expected to offer a significant opportunity for legal marijuana Market Expansion. The developing sanctioning and approval of medical and legal marijuana in different nations is relied upon to offer rewarding business sector openings in the coming time frame. In addition, the expanding mindfulness about the advantages is expected to improve requests can also give different freedoms to extend the legal marijuana market.


Restraints


The burden of stringent rules and regulations is the major restraining factor in the Market Growth of Marijuana. Furthermore, different nations have forced exacting principles and guidelines in regards to the use of cannabis inferable from its result, which can hamper the medical marijuana market during the forecasted time span. Moreover, the utilization of marijuana for sporting design is required to welcome an adverse consequence on human wellbeing that can effectively block the marijuana market development.


Cumulative Growth Analysis


The development in the legitimization of marijuana in various countries is a superb determinant invigorating business sector germination. The adequacy of marijuana for helpful targets is increasing force worldwide because of current authorizations in different countries. Restorative hemp is utilized to relentless prescription infections, like danger, arthropathy, and neurological ailments, like pressure, alarm assaults, and many other problems. The high transcendence of malignancy is expected to be fundamental conditions urging the necessity for legal marijuana.


Segment Overview


By Type


Based on item type, buds/cannabis blossom represented the biggest portion of the worldwide legal marijuana market in 2018. However, the enormous portion of this section is predominantly credited to the presence of a huge number of tobacco smokers. In any case, marijuana separate is required to observe a fast development during the estimated time frame from 2019 to 2025.


By application


Because of the application, the legal marijuana market is portioned into three significant fragments, specifically clinical, sporting, and beautifying agents and others. Medical application fragment represented the biggest portion of the worldwide legal marijuana market in 2018. The huge portion of this section is chiefly ascribed to expanding the request of pot for diminishing torment in different ailments like malignant growth, AIDS, seizures, and different infections; and developing exploration on restorative cannabis across the globe. In any case, the sporting application fragment is relied upon to observe a quick development during the estimated time frame. This development is principally credited to the development of a number of purchasers after legitimization and developing a pattern of burning-through legal marijuana as a replacement to liquor.


By Strains


Based on strains, the legal marijuana market is divided into three significant sections, specifically THC-prevailing, CBD-predominant, and Balanced THC and CBD. THC-predominant section represented the biggest portion of the worldwide legal marijuana industry in 2018, which is fundamentally ascribed to its wide-range therapeutic properties like pain-relieving, anti-anxiety, antibacterial, anticancer, stimulant, antiemetic, mitigating, antinausea, and antispasmodic.


Regional Analysis


Among the areas, North America is overwhelming the legal marijuana market with more than eighty percent of the worldwide portion of the overall industry. It is projected to arrive at more than USD 3.6 billion by 2022. The line is projected to observe the most noteworthy development rate during the estimated time frame 2016-2022. The sanctioning of marijuana in different nations is supporting the legal marijuana market development at a worldwide level. Also, the uses of legal marijuana are expanding attributable to the related advantages, which have been driving the development of the market from the most recent couple of years.


Major Market Players


The key players of the Legal Marijuana Market are:



  • Canopy Growth Corporation (US)

  • GBSciences Inc.(Nevada)

  • CanniMed Ltd (Canada)

  • Cannabis Sativa Inc (Nevada)

  • GW Pharmaceuticals Plc (US)

  • Aphria (Ontario)

  • Pfizer Inc. (US)

  • Emerald Health Therapeutics Inc. (Victoria, BC)

  • Medical Marijuana Inc (US)

  • MediPharm Labs (US)


Recent Developments


December 2020-Unifor, Canada's biggest private-area association, and Alafia Health Inc. has declared a drawn-out organization that, through aggregate dealing, will try to give admittance to its individuals to legal marijuana inclusion as a component of their advantage and protection inclusion.


Report Overview


Market overview highlights the global recognition of marijuana federally Legal Analysis Overview



  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis for the marijuana market research Report.

  • Market segmentation overview

  • The regional analysis of legal marijuana industry analysis

  • Competitive landscape analysis

  • Recent Developments of legal marijuana industry Forecast


The report highlights the legal marijuana market growth development includes its revenue hike's growth potential by the end of the forecast years.



Frequently Asked Questions (FAQ) :


Legal marijuana market CAGR would be 4.11% during the forecast period.

Legal marijuana market valuation would be USD 32.34 billion.

Strict rules and regulations would trigger legal marijuana market.

North America would dominate the legal marijuana market.

South America would register high CAGR during the forecast period.

Table of Contents

1. 1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Legal Marijuana Market, by Form

1.1.2. Global Legal Marijuana Market, by Applications

1.1.3. Global Legal Marijuana Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Applications

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.2.1. Driver 1

4.2.2. Driver 2

4.3. Restraints

4.3.1. Restraint 1

4.3.2. Restraint 2

4.4. Opportunities

4.4.1. Opportunity 1

4.4.2. Opportunity 2

4.5. Challenges

4.5.1. Challenge 1

4.5.2. Challenge 2

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis

5.2. Supply Chain Analysis

5.3. Porter’s Five Forces Model

5.3.1. Bargaining Power of Suppliers

5.3.2. Bargaining Power of Buyers

5.3.3. Threat of New Entrants

5.3.4. Threat of Substitutes

5.3.5. Intensity of Rivalry

6. GLOBAL LEGAL MARIJUANA MARKET, BY FORM

6.1. Introduction

6.2. Buds

6.2.1. Buds: Market Estimates & Forecast by Region/Country, 2020–2027

6.3. Oils

6.3.1. Oils: Market Estimates & Forecast by Region/Country, 2020–2027

6.4. Others

6.4.1. Others: Market Estimates & Forecast by Region/Country, 2020–2027

7. GLOBAL LEGAL MARIJUANA MARKET, BY APPLICATIONS

7.1. Introduction

7.2. Pharmaceutical

7.2.1. Pharmaceutical: Market Estimates & Forecast by Region/Country, 2020–2027

7.3. Recreational

7.3.1. Recreational: Market Estimates & Forecast by Region/Country, 2020–2027

8. GLOBAL LEGAL MARIJUANA MARKET, BY REGION

8.1. Introduction

8.2. North America

8.2.1. Market Estimates & Forecast by Form, 2020–2027

8.2.2. Market Estimates & Forecast by Applications, 2020–2027

8.2.3. Market Estimates & Forecast by Country, 2020–2027

8.2.4. US

8.2.4.1. Market Estimates & Forecast by Form, 2020–2027

8.2.4.2. Market Estimates & Forecast by Applications, 2020–2027

8.2.5. Canada

8.2.5.1. Market Estimates & Forecast by Form, 2020–2027

8.2.5.2. Market Estimates & Forecast by Applications, 2020–2027

8.2.6. Mexico

8.2.6.1. Market Estimates & Forecast by Form, 2020–2027

8.2.6.2. Market Estimates & Forecast by Applications, 2020–2027

8.3. Europe

8.3.1. Market Estimates & Forecast by Form, 2020–2027

8.3.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.3. Market Estimates & Forecast by Country, 2020–2027

8.3.4. Germany

8.3.4.1. Market Estimates & Forecast by Form, 2020–2027

8.3.4.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.5. France

8.3.5.1. Market Estimates & Forecast by Form, 2020–2027

8.3.5.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.6. Italy

8.3.6.1. Market Estimates & Forecast by Form, 2020–2027

8.3.6.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.7. Netherlands

8.3.7.1. Market Estimates & Forecast by Form, 2020–2027

8.3.7.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.8. Finland

8.3.8.1. Market Estimates & Forecast by Form, 2020–2027

8.3.8.2. Market Estimates & Forecast by Applications, 2020–2027

8.3.9. Rest of Europe

8.3.9.1. Market Estimates & Forecast by Form, 2020–2027

8.3.9.2. Market Estimates & Forecast by Applications, 2020–2027

8.4. South America

8.4.1. Market Estimates & Forecast by Form, 2020–2027

8.4.2. Market Estimates & Forecast by Applications, 2020–2027

8.4.3. Market Estimates & Forecast by Country, 2020–2027

8.4.4. Argentina

8.4.4.1. Market Estimates & Forecast by Form, 2020–2027

8.4.4.2. Market Estimates & Forecast by Applications, 2020–2027

8.4.5. Chile

8.4.5.1. Market Estimates & Forecast by Form, 2020–2027

8.4.5.2. Market Estimates & Forecast by Applications, 2020–2027

8.4.6. Colombia

8.4.6.1. Market Estimates & Forecast by Form, 2020–2027

8.4.6.2. Market Estimates & Forecast by Applications, 2020–2027

8.4.7. Rest of South America

8.4.7.1. Market Estimates & Forecast by Form, 2020–2027

8.4.7.2. Market Estimates & Forecast by Applications, 2020–2027

8.5. Rest of the World

8.5.1. Market Estimates & Forecast by Form, 2020–2027

8.5.2. Market Estimates & Forecast by Applications, 2020–2027

9. COMPETITIVE LANDSCAPE

9.1. Introduction

9.2. Competitive Benchmarking

9.3. Development Share Analysis

9.4. Key Developments & Growth Strategies

10. COMPANY PROFILES

10.1. Canopy Growth Corporation

10.1.1. Company Overview

10.1.2. Financial Overview

10.1.3. Products Offered

10.1.4. Key Developments

10.1.5. SWOT Analysis

10.1.6. Key Strategies

10.2. Aurora Cannabis

10.2.1. Company Overview

10.2.2. Financial Overview

10.2.3. Products Offered

10.2.4. Key Developments

10.2.5. SWOT Analysis

10.2.6. Key Strategies

10.3. MedMen Enterprises

10.3.1. Company Overview

10.3.2. Financial Overview

10.3.3. Products Offered

10.3.4. Key Developments

10.3.5. SWOT Analysis

10.3.6. Key Strategies

10.4. Terra Tech

10.4.1. Company Overview

10.4.2. Financial Overview

10.4.3. Products Offered

10.4.4. Key Developments

10.4.5. SWOT Analysis

10.4.6. Key Strategies

10.5. Aphria Inc.

10.5.1. Company Overview

10.5.2. Financial Overview

10.5.3. Products Offered

10.5.4. Key Developments

10.5.5. SWOT Analysis

10.5.6. Key Strategies

10.6. VIVO Cannabis Inc

10.6.1. Company Overview

10.6.2. Financial Overview

10.6.3. Products Offered

10.6.4. Key Developments

10.6.5. SWOT Analysis

10.6.6. Key Strategies

10.7. Cronos Group

10.7.1. Company Overview

10.7.2. Financial Overview

10.7.3. Products Offered

10.7.4. Key Developments

10.7.5. SWOT Analysis

10.7.6. Key Strategies

10.8. Medical Legal Marijuana, Inc.

10.8.1. Company Overview

10.8.2. Financial Overview

10.8.3. Products Offered

10.8.4. Key Developments

10.8.5. SWOT Analysis

10.8.6. Key Strategies

10.9. StenoCare A/S

10.9.1. Company Overview

10.9.2. Financial Overview

10.9.3. Products Offered

10.9.4. Key Developments

10.9.5. SWOT Analysis

10.9.6. Key Strategies

10.10. Tikun Olam

10.10.1. Company Overview

10.10.2. Financial Overview

10.10.3. Products Offered

10.10.4. Key Developments

10.10.5. SWOT Analysis

10.10.6. Key Strategies

10.11. Organigrams Holding Inc.

10.11.1. Company Overview

10.11.2. Financial Overview

10.11.3. Products Offered

10.11.4. Key Developments

10.11.5. SWOT Analysis

10.11.6. Key Strategies

10.12. Cannabis Science Inc.

10.12.1. Company Overview

10.12.2. Financial Overview

10.12.3. Products Offered

10.12.4. Key Developments

10.12.5. SWOT Analysis

10.12.6. Key Strategies

10.13. Maricann Group Inc.

10.13.1. Company Overview

10.13.2. Financial Overview

10.13.3. Products Offered

10.13.4. Key Developments

10.13.5. SWOT Analysis

10.13.6. Key Strategies

10.14. Tilray Inc

10.14.1. Company Overview

10.14.2. Financial Overview

10.14.3. Products Offered

10.14.4. Key Developments

10.14.5. SWOT Analysis

10.14.6. Key Strategies

10.15. Hexo

10.15.1. Company Overview

10.15.2. Financial Overview

10.15.3. Products Offered

10.15.4. Key Developments

10.15.5. SWOT Analysis

10.15.6. Key Strategies

11. APPENDIX

11.1. General Forms & References

11.2. List of Abbreviation


List of Tables

TABLE 1 Global Legal Marijuana Market, by Region, 2020–2027 (USD Million)

TABLE 2 Global Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 3 Global Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 4 North America: Legal Marijuana Market, by Country, 2020–2027 (USD Million)

TABLE 5 North America: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 6 North America: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 7 US: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 8 US: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 9 Canada: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 10 Canada: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 11 Mexico: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 12 Mexico: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 13 Europe: Legal Marijuana Market, by Country, 2020–2027 (USD Million)

TABLE 14 Europe: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 15 Europe: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 16 Germany: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 17 Germany: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 18 France: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 19 France: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 20 Italy: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 20 Italy: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 21 Netherlands: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 22 Netherlands: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 21 Finland: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 22 Finland: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 23 Rest of Europe: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 24 Rest of Europe: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 25 South America: Legal Marijuana Market, by Country, 2020–2027 (USD Million)

TABLE 26 South America: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 27 South America: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 28 Argentina: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 29 Argentina: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 30 Chile: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 31 Chile: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 32 Colombia: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 33 Colombia: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 34 Rest of South America: Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 35 Rest of South America: Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

TABLE 36 Rest of the World (RoW): Legal Marijuana Market, by Form, 2020–2027 (USD Million)

TABLE 37 Rest of the World (RoW): Legal Marijuana Market, by Applications, 2020–2027 (USD Million)

LIST OF FIGURES

FIGURE 1 Global Legal Marijuana Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Legal Marijuana Market

FIGURE 4 Value Chain of the Global Legal Marijuana Market

FIGURE 5 Share of the Global Legal Marijuana Market in 2020, by Country (%)

FIGURE 6 Global Legal Marijuana Market, by Region, 2020–2027,

FIGURE 7 Global Legal Marijuana Market Size, by Form, 2020

FIGURE 8 Share of the Global Legal Marijuana Market, by Form, 2020–2027 (%)

FIGURE 9 Global Legal Marijuana Market Size, by Applications, 2020

FIGURE 10 Share of the Global Legal Marijuana Market, by Applications, 2020–2027 (%)