Global Legal Marijuana Market Sets Record Growth, Heading Towards USD 86.3 Billion by 2033 | Market.us
An Increase in Demand and Opportunities for the Global Legal Marijuana Market by 2024,” offers a comprehensive analysis of the market by evaluating research and information from multiple sources. This report empowers decision-makers worldwide to positively influence the global economy by providing a detailed overview of the market, including statistics, market size, and competitive conditions.
Market expansion has been fueled by increasing demand, with several countries legalizing medical cannabis in recent years for treating various conditions. Numerous studies have showcased the efficacy of medical marijuana in alleviating symptoms like chronic pain, chemotherapy-induced nausea, Parkinson’s disease, and Alzheimer’s.
The Legal Marijuana market boasts a strong global foundation. The market research report conducts a thorough analysis, forecasting future trends, growth factors, consumption and production volumes, as well as CAGR numbers. Moreover, it offers recommendations, profit margins, and pricing data sourced directly from the market, aiding market participants and individuals in predicting future profitability and making informed business decisions.
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Key Takeaways
- Market Size: Legal Marijuana Market size is expected to be worth around USD 86.3 Billion by 2033 from USD 19.4 Billion in 2023.
- Market Growth: The market growing at a CAGR of 16.1% during the forecast period from 2024 to 2033.
- Product Analysis: The largest revenue share was held by the oil and other tinctures segment, which accounted for over 54%.
- Application Analysis: The medical segment held the largest revenue share, accounting for more than 83% in 2023.
- Regional Analysis: North America accounted for the majority of North America’s revenue share, with 75% as of 2023.
Scope of the Legal Marijuana Market
The report provides insights into the future needs and potential opportunities of the Legal Marijuana market, highlighting key market players and their roles. Utilizing key market dynamics and growth variables, the report calculates market value and growth rates. Drawing from current industry news, market trends, and growth projections, it also presents a detailed analysis of market and competitor scenarios, including a SWOT analysis of prominent competitors.
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Market Leading Segmentation
Product Type
- Flower
- Oil and Tinctures
Application
Medical
- Chronic Pain
- Cancer
- Depression and Anxiety
- Arthritis
- Diabetes
- Glaucoma
Recreational
Market Top Players
- Canopy Growth Corporation
- Aurora Cannabis
- Aphria, Inc.
- Tilray
- ABcann Medicinals, Inc.
- Maricann Group, Inc.
- The Cronos Group
- Organigram Holding, Inc.
- Lexaria Corp.
- GW Pharmaceuticals
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Regional Analysis
-North America [United States, Canada, Mexico]
-South America [Brazil, Argentina, Columbia, Chile, Peru]
-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
-Middle East & Africa [GCC, North Africa, South Africa]
-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
What to Expect in Our Report?
(1) The comprehensive section of the global Legal Marijuana market report is devoted to market dynamics, including influencing factors, market drivers, challenges, opportunities, and trends.
(2) Another important part of the study is reserved for the regional analysis of the Global Legal Marijuana Market, which evaluates key regions and countries in terms of growth potential, consumption, market share, and other pertinent factors that point to their market growth.
(3) Players can use the competitor analysis in the report to create new strategies or refine existing ones to meet market challenges and increase Legal Marijuana market share.
(4) The report also examines the competitive situation and trends, throwing light on business expansion and ongoing mergers and acquisitions in the global Legal Marijuana market. It also shows the degree of market concentration and the market shares of the top 3 and top 5 players.
(5) The readers are provided with the study results and conclusions contained in the Legal Marijuana Market Report.
The Report Addresses the Following Questions about Legal Marijuana
- What is the business landscape of the Legal Marijuana market?
- What factors influence business development during the forecast period?
- What are the major risks in the Legal Marijuana industry?
- Which regions offer the best investment opportunities in the market?
- What are the opportunities in the Global Legal Marijuana Market?
- What are the entry strategies into the Legal Marijuana Industry?
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