IMARC Group, a leading market research company, has recently releases report titled “Legal Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” The study provides a detailed analysis of the industry, including the global legal cannabis market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Legal Cannabis Market?
The global legal cannabis market reached a value of US$ 16.2 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 61.4 Billion by 2027, exhibiting a CAGR of 24.94% during the forecast period (2022-2027).
What is Legal Cannabis?
Legal cannabis is a drug obtained from drying and curing marijuana flowers to the sophisticated chemistry of producing cannabis concentrates. It is used to treat diseases or conditions such as cancer, appetite loss, wasting syndrome (cachexia), and Crohn’s disease. It also regulates and prevents diabetes, helps reduce chronic pain, eases anxiety, and treats depression and inflammatory bowel diseases among the masses. It is utilized for the treatment of different symptoms and diseases, such as migraines, glaucoma, multiple sclerosis, epilepsy, arthritis, Alzheimer’s, Tourette’s, Parkinson’s, amyotrophic lateral sclerosis (ALS), an acquired immunodeficiency syndrome (AIDS), and post-traumatic stress disorder (PTSD). As a result, legal cannabis is widely utilized in the pharmaceutical industry for its medicinal benefits.
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/legal-cannabis-market
What are the growth prospects and trends in the legal cannabis industry?
The market is primarily driven by the legalization and decriminalization of cannabis. In addition, the increasing usage of legalized cannabis and approval of its use in the medical field is other growth-inducing factors. Moreover, international agencies acknowledge potential opportunities that cannabis may offer.
They are also authorizing the use of a medication containing cannabidiol (CBD) for the treatment of rare epilepsy like Dravet syndrome and Lennox-Gastaut syndrome, which is difficult to control with other types of medication, thus propelling the market growth. Besides this, oral cannabinoids are effective antiemetics for adults with chemotherapy-induced nausea and vomiting and also assist in improving spasticity symptoms among the masses with multiple sclerosis (MS)-related spasticity.
Additionally, increasing research and clinical trials coupled with a growing number of medical cannabis dispensaries in several countries that supply cannabis for therapeutic use on a licensed healthcare practitioner recommendation is positively influencing the market growth.
Request Free Sample Copy of This Report: https://www.imarcgroup.com/legal-cannabis-market/requestsample
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Source:
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
Breakup by Distribution Channel:
- Recreational Stores
- Online Stores
Breakup by End User:
- Medical Use
- Recreational Use
- Industrial Use
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corporation, Green Thumb Industries, GW Pharmaceuticals plc (Jazz Pharmaceuticals plc), HEXO Corp., Organigram Holdings Inc., Sundial Growers Inc., The Cronos Group, The Green Organic Dutchman Holdings Ltd., The Scotts Miracle-Gro Company, Tilray and VIVO Cannabis Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Follow us on Twitter: @imarcglobal
Read More : Global Industrial Robotics Market Share, Growth, Report Analysis, 2023-2028