Legal Marijuana Market Global Sales Are Expected To Reach $ 65.1 Bn by 2027

Precedence Research recently published a report on “Legal Marijuana Market Size, Share & Growth Analysis Report By Marijuana Type (Medical and Adult Use), By Application (Mental Disorders, Chronic Pain, Cancer and Others), Product Type (Oils, Buds and Tinctures) By Region – Global Industry Analysis, Trends, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, The global legal marijuana market size is projected to reach USD 65.1 billion by 2027 from an estimated USD 17.5 billion in 2019, at a CAGR of 17.8% from 2020 – 2027.

The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This research report evaluates legal marijuana market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global legal marijuana market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2019 along with a forecast from 2020 to 2027 based on value.

Marijuana also known as cannabis is a brown, green or gray mix of shredded, dried leaves, seeds, stems and flowers of the hemp plant named Cannabis sativa. It is employed as a mind altering or psychoactive recreational drug for particular medical ailments, for spiritual and divine purposes. The cannabis industry involves legal operations regarding marijuana and hemp which is its non-intoxicating cousin.

Medical marijuana means application of cannabis as a physician suggested therapy for treatment of some health circumstances and symptoms. It is widely utilized for treating mental disorders, chronic pain conditions and diseases, arthritis, cancer treatment, migraine, and other medical situations. The indication for the legitimate medical application of cannabinoids or marijuana is limited to few indications, notably nausea or vomiting, HIV/AIDS cachexia, connected to neuropathic pain, chemotherapy, and spasticity in multiple sclerosis. These medical applications are stimulating the growth of legal marijuana market across the world. Marijuana legalization is a provocative and complicated issue that is nowadays the subject of thoughtful debate. Since 2012, 4 U.S. states have approved ballot initiatives to eliminate ban and authorize a for-profit commercial marijuana business.

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Scope of the Study

This legal marijuana market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Growth Factors

Marijuana is becoming legal in cumulative number of states for both recreational and medical and application. Substantial disagreement present concerning the public health influence of these fluctuations. Rising number of research studies to discover innovative therapeutic uses will accelerate the medical marijuana market advancement in North America. However, non-uniformity and irregularities of cannabis testing standards will hinder market growth. Besides, deficiency of consciousness among the emergent nations plus lack of sufficient safety data will further restrict the growth of medical marijuana market. Though the market for cannabis is anticipated to experience substantial growth over the impending years, crop pricing might extremely hinder development of cannabis market. This might occur as more nations around the world look forward to commoditizing cannabis, that may lead downward trend for crop prices.

Report Highlights

• Despite growing acceptance of cannabis application across the globe, marijuana remains taboo and outlawed in most parts of Asia Pacific mostly on account of stigma neighboring it.
• North America grasp substantial revenue stake share in 2019 on account of growing popularity and adoption in growth in the U.S. and Canadian markets
• Europe medical cannabis market is predicted to witness substantial growth during estimate timeframe.

Regional Snapshots

The advancement of North America medical marijuana sector is mostly supported by swelling need of medical cannabis for the treatment of numerous health conditions. Also, awareness programs directed by private and public associations and cumulative number of states legalizing medical application of cannabis will push business progress. For example, since 2014, 13 states in the U.S. legitimate the medical practice of cannabis. The legalization has boosted the need from both medical and recreational consumers.

Countries such as the U.S. and Canada, where adult application of marijuana has been legalized, have perceived a dynamic modification from patients electing for recreational cannabis than medical. This can be credited to the extensive variety, easy obtainability, and low prices. In nations where repayment for medical cannabis is not significant, this change in trend is much evidentiary. Since 1985, cannabis has been prohibited in China. Yet, species of cannabis named hemp is still grown in the nation and factually has been employed for fibre also ritual purposes inside Taoism. Furthermore, Thailand became the first nation in Southeast Asia to authorize consumption and growth of medical marijuana and started its first legal cannabis greenhouse in 2019.

Key Players:

This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the legal marijuana market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the legal marijuana market include:

• Aurora Cannabis
• GW Pharmaceuticals, plc.
• Organigram Holding, Inc.
• Canopy Growth Corporation
• Maricann Group, Inc.
• Aphria, Inc.
• Maricann Group, Inc.
• The Cronos Group
• Tilray
• ABcannMedicinals, Inc.
• Lexaria Corp.

Segments Covered in the Report

By Marijuana Type

• Medical
• Adult Use

By Product Type

• Oils
• Buds
• Tinctures

By Application

• Mental Disorders
• Chronic Pain
• Cancer
• Others

By Regional

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Key Points Covered in legal marijuana market Study:

• Growth of legal marijuana in 2021
• Market Estimates and Forecasts (2016-2027)
• Brand Share and Market Share Analysis
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Recommendation on Key Winning Strategies
• COVID-19 Impact on Demand for legal marijuana and How to Navigate
• Key Product Innovations and Regulatory Climate
• legal marijuana Consumption Analysis
• legal marijuana Production Analysis
• legal marijuana and Management

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Legal Marijuana Market, By Product

7.1. Legal Marijuana Market, by Product Type, 2020-2027
7.1.1. Oils
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Buds
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Tinctures
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Legal Marijuana Market, By Application

8.1. Legal Marijuana Market, by Application, 2020-2027
8.1.1. Mental Disorders
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Chronic Pain
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Cancer
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Legal Marijuana Market, By Marijuana

9.1. Legal Marijuana Market, by Marijuana, 2020-2027
9.1.1. Medical
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Adult Use
9.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Legal Marijuana Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Marijuana (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Marijuana (2016-2027)

Chapter 11. Company Profiles

11.1. Aurora Cannabis
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. GW Pharmaceuticals, plc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Organigram Holding, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Canopy Growth Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Maricann Group, Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Aphria, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Maricann Group, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. The Cronos Group
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Tilray
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. ABcannMedicinals, Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Lexaria Corp.
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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