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Global Legal Cannabis Market: By Products Derived: Marijuana, Industrial Hemp; By Application; By Distribution Channel: Regulated Dispensary, Recreational Stores, Stand-Alone Retailer, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Legal Cannabis Market Outlook

The global legal cannabis market is expected to grow in the forecast period of 2023-2028 at a CAGR of 23%.

 

Global Legal Cannabis Market

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Growing Demand for Cannabinoid-Infused Food Products Boosting the Growth of the Legal Cannabis Industry

The trend of food incorporated with cannabis is increasing the demand for cannabinoid, which is surging the demand for industrial hemp. Moreover, the rising awareness regarding the health benefits of cannabinoid is increasing the demand for cannabinoid-infused food products, hence augmenting the market growth. Increasing research activities depicting the positive impact of cannabinoid on various issues, such as anxiety, pain management, Alzheimer’s disease, and insomnia, among others, are leading to a surge in the consumption of industrial hemp for medicinal benefits. This is increasing the demand for industrial hemp and is consequently propelling the growth of the cannabis industry. Moreover, the development of innovative cannabis-based products is significantly contributing to the market growth. In addition, the growing demand for clean label products among the health-conscious population is bolstering the industry growth. Although various industries witnessed a staggered growth amidst the COVID-19 pandemic, the legal cannabis industry grew robustly as the demand for cannabis escalated owing to high pandemic-related stress. As the stigma related to the consumption of cannabis is decreasing, the demand for legal cannabis is surging, which is anticipated to aid the industry growth in the upcoming years.

 

Legal Cannabis: Market Segmentation

Cannabis refers to psychoactive drugs that are derived from the flower of the cannabis plant. Cannabis is consumed for calming and relaxing effects, due to which it is deployed for medicinal use. It comprises of marijuana and industrial hemp and is used in various industries, such as food and beverages and textile industries. The legalisation of cannabis permits the use and consumption of cannabis and cannabis-based products.

 

Global Legal Cannabis Market by Segment

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The major products derived from legal cannabis are:

  • Marijuana
  • Industrial Hemp

The market can be broadly categorised on the basis of its application into:

  • Marijuana
    • Medical 
      • Migraine
      • Arthritis
      • Cancer
      • Others
    • Recreational Use
  • Industrial Hemp
    • Personal Care
    • Hemp CBD
    • Food
    • Consumer Textile 
    • Others

Based on distribution channel, the market is divided into:

  • Regulated Dispensary
  • Recreational Stores
  • Stand-Alone Retailer
  • Others

The EMR report looks into the regional markets of legal cannabis like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Legal Cannabis Market by Region

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Rising Demand for Cannabis with Standard Dosing and Lab-Tested Ingredients to Bolster the Market Growth

The penetration of various start-ups is leading to the availability of cannabis with standard dosing and lab-tested ingredients, the demand for which is rapidly increasing among consumers. Innovative and premium packaging offered by several brands is increasing the appeal of cannabis-based products among millennial and gen-Z consumers, which is invigorating the market growth. The increasing legalisation of cannabis in countries, such as the United States, Spain, and Canada, is fuelling the industry growth. For instance, New York legalised recreational cannabis in April 2021, which is providing a significant boost to the market growth.

In addition, the increasing use of cannabis for medical use is augmenting the market growth. The trend is expected to escalate in the upcoming years due to the integration of the latest technology such as artificial intelligence (AI) and big data in various treatments. This can lead to the personalisation of medical cannabis to develop specific therapies for cancer and palliative care, which is estimated to fuel the industry growth. Moreover, increasing investments into medical cannabis is leading to a surge in research and development (R&D) activities and in the exploration of the potential of cannabinoid, which are projected to propel the market growth over the forecast period.

 

Key Industry Players in the Global Legal Cannabis Market

The report presents a detailed analysis of the following key players in the global legal cannabis market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Canopy Growth Corporation
  • Aurora Cannabis Enterprises Inc.
  • Maricann Inc.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Products Derived, Application, Distribution Channel, Country
Breakup by Products Derived Marijuana, Industrial Hemp
Breakup by Application Marijuana, Industrial Hemp
Breakup by Distribution Channel Regulated Dispensary, Recreational Stores, Stand-Alone Retailer, Others
Breakup by Country North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Canopy Growth Corporation, Aurora Cannabis Enterprises Inc., Maricann Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Market Overview
    5.2    Key Market Drivers
    5.3    Key Market Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Global Legal Cannabis Market Snapshot
7    IOpportunities and Challenges in the Market
8    Global Legal Cannabis Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Legal Cannabis Historical Market (2018-2022) 
    8.3    Global Legal Cannabis Market Forecast (2023-2028)
    8.4    Global Legal Cannabis Market by Products Derived
        8.4.1    Marijuana
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Industrial Hemp
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Legal Cannabis Market by Application
        8.5.1    Marijuana
            8.5.1.1    Medical
                8.5.1.1.1    Market Share
                8.5.1.1.2    Historical Trend (2018-2022)
                8.5.1.1.3    Forecast Trend (2023-2028)
                8.5.1.1.4    Breakup by Type
                    8.5.1.1.4.1    Migraine
                    8.5.1.1.4.2    Arthritis
                    8.5.1.1.4.3    Cancer
                    8.5.1.1.4.4    Others
            8.5.1.2    Recreational Use
                8.5.1.2.1    Market Share
                8.5.1.2.2    Historical Trend (2018-2022)
                8.5.1.2.3    Forecast Trend (2023-2028)
        8.5.2    Industrial Hemp
            8.5.2.1    Personal Care
                8.5.2.1.1    Market Share
                8.5.2.1.2    Historical Trend (2018-2022)
                8.5.2.1.3    Forecast Trend (2023-2028)
            8.5.2.2    Hemp CBD
                8.5.2.2.1    Market Share
                8.5.2.2.2    Historical Trend (2018-2022)
                8.5.2.2.3    Forecast Trend (2023-2028)
            8.5.2.3    Food
                8.5.2.3.1    Market Share
                8.5.2.3.2    Historical Trend (2018-2022)
                8.5.2.3.3    Forecast Trend (2023-2028)
            8.5.2.4    Consumer Textile
                8.5.2.4.1    Market Share
                8.5.2.4.2    Historical Trend (2018-2022)
                8.5.2.4.3    Forecast Trend (2023-2028)
            8.5.2.5    Others
    8.6    Global Legal Cannabis Market by Distribution Channel
        8.6.1    Regulated Dispensary
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Recreational Stores
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Stand-Alone Retailer
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Others
    8.7    Global Legal Cannabis Market by Country       
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028) 
9    North America Legal Cannabis Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Legal Cannabis Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Legal Cannabis Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Legal Cannabis Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Legal Cannabis Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Canopy Growth Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Aurora Cannabis Enterprises Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Maricann Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Legal Cannabis Market: Key Industry Highlights, 2018 and 2028
2.    Global Legal Cannabis Historical Market: Breakup by Products Derived (USD Billion), 2018-2022
3.    Global Legal Cannabis Market Forecast: Breakup by Products Derived (USD Billion), 2023-2028
4.    Global Legal Cannabis Historical Market: Breakup by Application (USD Billion), 2018-2022
5.    Global Legal Cannabis Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    Global Legal Cannabis Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
7.    Global Legal Cannabis Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
8.    Global Legal Cannabis Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global Legal Cannabis Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America Legal Cannabis r Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe Legal Cannabis Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific Legal Cannabis Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Latin America Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Latin America Legal Cannabis Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Middle East and Africa Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Middle East and Africa Legal Cannabis Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Global Legal Cannabis Market Structure

Key Questions Answered in the Report

The global legal cannabis market is projected to grow at a CAGR of 23% between 2021 and 2026.

The market is being driven by the increasing demand for cannabinoid-infused food products and the rising awareness regarding the health benefits of cannabis.

The market is expected to be aided by the development of innovative cannabis products, the rising demand for cannabis among women, and increasing research and development (R&D) activities initiated by the leading companies.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major products derived from legal cannabis in the industry are marijuana and industrial hemp.

The significant application segments of legal cannabis are marijuana and industrial hemp.

The leading distribution channels of legal cannabis in the market are regulated dispensary, recreational stores, and stand-alone retailer, among others.

The major players in the industry are Canopy Growth Corporation, Aurora Cannabis Enterprises Inc., and Maricann Inc., among others.

Analyst Review

The global legal cannabis market are being driven by the increasing demand for cannabinoid-infused food products. Aided the development of innovative cannabis products, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 23%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on products derived, the legal cannabis industry can be segmented into marijuana and industrial hemp. By application, the industry is bifurcated into marijuana and industrial hemp. On the basis of distribution channel, the industry is divided into regulated dispensary, recreational stores, and stand-alone retailer, among others. The major regional markets for legal cannabis are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Canopy Growth Corporation, Aurora Cannabis Enterprises Inc., and Maricann Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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