San Francisco, CA - Legal Marijuana Market is
anticipated to reach 146.4 billion by end of 2025. The market is anticipated to
grow at a healthy rate in the years to come. Robust demand among consumers and
growing legalization of recreational and medical marijuana in numerous
economies, rising investments by the public and private sector, research and
development activities, innovations of safer means for the consumption of
marijuana including oils, vapes, tinctures, and other edibles are driving the
market.
Also, increasing number of conditions treated for the usage
of medical marijuana and expansion of the patient base across the globe, rise
in the adoption rates of marijuana in varied medical applications ranging from
cancer, mental disorders, to chronic pain are likely to foster the growth. The
market is anticipated to grow at a significant CAGR of 34.6% in the upcoming
period as the scope, product types and its applications are increasing across
the globe.
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Legal marijuana industry may be explored by type, product,
applications, and geography. The market may be explored by type as Medical, and
Recreational. The “Medical” segment dominated the legal marijuana market in
2016 and is anticipated to maintain its dominance by 2025 due to the fact that
several countries have approved hemp products for cancer-induced nausea,
chronic pain, and multiple sclerosis. “Recreational” segment is anticipated to
record the highest CAGR over the forthcoming period.
Legal marijuana industry may be explored by product as Oil,
Tinctures, and Buds. In 2016, Bud dominated the market. The factors that
contribute to the market growth include widespread acceptance of buds and their
low cost as compared to extracts or derivatives. These buds are extensively
used for smoking and are in high demand for entertainment.
Legal marijuana market may be explored by Applications as
Mental Disorders, Chronic Pain, Cancer, and Others. The “chronic pain” segment
dominated the legal marijuana industry in 2016 and is anticipated to maintain
its dominance by 2025 due to facts that cannabis help to decrease pain and
increase lifespan among patients suffering from chronic pain. However, “Chronic
pain” segment is followed by the “Metal disorder” segment and anticipated to
record the highest CAGR in the years to come.
North America accounted for the major share of the global
Legal Marijuana Market Size Analysis in 2016 and will continue to lead in the
forecast period North America is followed by Europe and Asia-Pacific and it is
anticipated to record at the highest CAGR in the forecast period.
Some of the key players that fuel the growth of the legal
marijuana industry include Aphria, Inc.; Aurora Cannabis; Canopy Growth
Corporation; Maricann Group, Inc.; The Cronos Group; Tilray; Organigram
Holdings, Inc.; Tikun Olam, and ABcannMedicinals, Inc.;The leading companies
are taking up partnerships, mergers and acquisitions, and joint ventures in
order to boost the inorganic growth of the industry.
Regional Analysis For
Legal Marijuana Market:
For comprehensive understanding of market dynamics, the
global Legal Marijuana Market is analyzed across key geographies namely: North
America, Europe, Asia-Pacific, Latin America and Africa. Each of these regions
is analyzed on basis of market findings across major countries in these regions
for a macro-level understanding of the market.
Significant Features
that are under Offering and Key Highlights of the Reports:
1
Detailed overview of Legal Marijuana Market
2
Changing market dynamics of the industry
3
In-depth market segmentation by Type,
Application etc
4
Historical, current and projected market size in
terms of volume and value
5
Recent industry trends and developments
6
Competitive landscape of Legal Marijuana Market
7
Strategies of key players and product offerings
8
Potential and niche segments/regions exhibiting
promising growth.
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Insights, Download Brochure @ https://www.millioninsights.com/industry-reports/legal-marijuana-market
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