Global Legal Marijuana Market Growing at A CAGR of 21.2% During 2016-2026

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The global legal marijuana market was valued at USD XX billion in 2018 and is expected to reach USD XX billion in 2026, growing at a CAGR of 21.2% during the forecast period.

Legal marijuana also is known as legal cannabis. It one of the premium cannabis varieties, which is used for recreational and medicinal reasons (psychoactive drugs). The use of marijuana for recreational purpose is anticipated to increase substantially growth over the forecast period, which may result in rising worldwide demand for legal marijuana. It is expected that the increasing disease burden of chronic pain and the growing need for effective global pain management remedies will increase the demand for legal cannabis. Similarly, it is expected that high cancer prevalence will enhance the demand in the market for legal marijuana.

The main growth factors for the global legal marijuana market include growing intake of medical marijuana for chronic disease treatment and rapid rise in the legalization of marijuana across developed countries. Moreover, product development in various end-use industries across the world is further enhancing demand and sales during the forecast period. However, the illegality supply of marijuana is hampering the market growth for product development in various end-use industries across the world.

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Also, limited market access to marijuana in several Asian and African countries and medical marijuana legalization for limited indications are the major restraining factors in the market for the manufacturers near the future. Based on the product type, the concentrate segment is expected to lead the market.Based on the product type, the market has been segmented into concentrates, capsules, edibles, buds, oil, and others.

The concentrate segment is predicted to hold nearly 25% in the global market in 2018. While buds segment is expected to grow at the highest CAGR in the legal marijuana market during the forecast period. Based on the application, the cancer segment is expected to grow at the highest CAGR throughout the forecast period Based on the application, the market has been segmented into chronic pain, mental disorders, cancer, and others.

The cancer segment is expected to grow at the highest CAGR of around 28.5% in the global market owing to increase in the advancement in research heading by the local governments and leading manufacturing companies. Moreover, it is anticipated that the launch of the medical marijuana program and the cultivation and distribution of the product by governments of different countries will increase development in the forecast period. North America to dominate the global legal marijuana market throughout the forecast period

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The demand from North America is anticipated to stay the highest and expected to register approximately 46% market share in 2018. The growth in the region is due to the existence of a big customer pool and the legalization of medical marijuana in the U.S. and Canada. However, legalization in European countries, accompanied by stringent sales and cultivation laws and regulations, may limit Europe's general development and, in turn, the worldwide market. North America represented the biggest share of the revenue in 2018. The cannabis industry is further driven by the existence of significant cannabis giants such as the Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc. who are continually investing and working together to develop fresh products to meet customer demand.

The level of cannabis production in North America has risen quickly over the previous few years as a result of significant players expanding their manufacturing capacity. Company Profiles and Competitive Intelligence: The major players operating in the global legal marijuana market are Aphria Inc. (Canada), MedReLeaf Corp. (Canada), Sprott Inc.(Canada), Scotts Miracle-Gro Co.(US), Canopy Growth Corp.(Canada), GW Pharmaceuticals PLC (UK), Aurora Cannabis Inc.(Canada), Insys Therapeutics Inc. (US) and CanniMed Therapeutics Inc. (Canada) among others.

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Table Of Content

Chapter 1 Executive Summary
1.1.Market Summary
1.1.1.Global Legal Marijuana Market, 2016-2026, (USD Million)
1.2.Market Snapshot: Global Legal Marijuana Market
1.3.Market Dynamics
1.4.Global Legal Marijuana Market, by Segment, 2018
1.4.1.Global Legal Marijuana Market, by Product Type, 2018, (USD Million)
1.4.2.Global Legal Marijuana Market, by Application, 2018, (USD Million)
1.4.3.Global Legal Marijuana Market, by Region, 2018 (USD Million)
1.5.Premium Insights
1.5.1.Global Legal Marijuana Market in Developed Vs. Developing Economies, 2018 vs 2026
1.5.2.Global Legal Marijuana Market: Regional Life Cycle Analysis

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