Marijuana is dried leaves, stems, flowers or seed of Cannabis sativa or Cannabis indica plant. The consumption of marijuana is limited to certain countries where it is known as legal marijuana. Major share of the legal marijuana consumption was witnessed in North America, which held 69.3% of market share in the year 2016. Legal marijuana is widely used in the medical sector for the treatment of various diseases such as cancer, multiple sclerosis, HIV/AIDS, and others. Scientists are constantly researching on the marijuana species to bring out value added products from the cannabis strains, which is contributing in the growth of legal marijuana market.
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Competitive Landscape
The major key players in legal marijuana are:
- Medicine Man (U.S.)
- AmeriCann, Inc. (U.S.)
- Novus Acquisition & Development (U.S.)
- Abattis Bioceuticals Corp (Canada)
- GW Pharmaceuticals (U.K.)
- Canopy Growth (Canada)
- Insys Therapeutics (U.S.)
Segmentation Analysis
The global legal marijuana market is segmented by type, application, and regions.
Regional Analysis
Among the regions, North America is dominating the Legal Marijuana Market with over 80% of the global market share and is projected to reach more than USD 3.6 billion by 2022. RoW is projected to witness the highest growth rate during the forecast period 2016-2022. The legalization of marijuana in various countries is supporting the market growth at a global level. Moreover, applications of legal marijuana are increasing owing to the associated benefits, which has been driving the growth of the market from the last few years.
Market Scope
Key players are highly focusing on R&D to extract the different values of the legal marijuana and expand their business portfolio. The R&D investments are evaluated to be contributing over 50% to strategy share and is facilitating the companies to expand their business portfolio. Moreover, legalization of marijuana in various countries has opened the doors for the growth of legal marijuana market.
Browse more details about “Legal Marijuana Market Research Report- Forecast till 2022”.
Industry/ Innovation/ Related News:
Pune, India, MRFR published a Cooked Research Report on Global Legal Marijuana Market, which is estimated to grow at a CAGR of 22.03% during the forecast period 2016-2022.
Marijuana is one of the most abused drugs in the world.The commercial marijuana industry exists on a state-by-state basis, and all medical and recreational programs are technically in violation of federal drug laws.
The U.S. Department of Justice issued some guidelines in recent years that helped the marijuana industry gain traction, but these are not legally binding and could theoretically be nullified at any time.A medicinal cannabis product refers to a product which includes cannabis, and its chemical components (cannabinoids), that can be used for curing, or alleviating the symptoms of disease, ailment or injury.The two main cannabinoids that have been identified for therapeutic application are the psychoactive 9-tetrahydrocanabinol (THC) and non-psychoactive Cannabidiol (CBD).Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-legal-marijuana-2019-2024-884The global average price of Legal Marijuana is in the decreasing trend, from 11.92 USD/g in 2012 to 7.5 USD/g in 2016.
With the situation of global economy, prices will be in decreasing trend in the following five years.The classification of Legal Marijuana includes Classical Media & Salts, Serum-free MediaStem Cell Media, and the proportion of Classical Media & Salts in 2016 is about 50.07%, and the proportion is in decreasing trend from 2012 to 2017.Market competition is not intense.
Medicine Man, Canopy Growth, Aphria, Aurora Cannabis Inc. and mCig Inc are the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in the monopoly position in the industry.According to this study, over the next five years the Legal Marijuana market will register a 28.0% CAGR in terms of revenue, the global market size will reach US$ 35000 million by 2024, from US$ 7970 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Legal Marijuana business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Legal Marijuana market by product type, application, key manufacturers and key regions and countries.This study considers the Legal Marijuana value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.IndoorGreenhouseSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.RecreationalMedicalThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: Breakdown data in in Chapter 3.Medicine ManCanopy GrowthAphriaAurora Cannabis Inc.mCig IncIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
