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Global Legal Marijuana Market: By Type: Medical, Recreational; By Product: Buds, Oil, Tinctures; By Distribution Channel; By Application: Chronic Pain, Mental Disorders, Cancer; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Legal Marijuana Market Outlook

The global legal marijuana market reached a value of about USD 17 billion in 2020. The market is further expected to grow at a CAGR of 21% in the forecast period of 2021-2026 to reach a value of approximately USD 53 billion by 2026.

The legal marijuana market is being driven by the growing legalisation of cannabis in different parts of the world and the growing awareness regarding the therapeutic effects of marijuana. The more open the market becomes, the higher will be the awareness, de-stigmatisation, and acceptance of marijuana, thus, leading to further market growth.

Based on type, the industry is divided into medical and recreational segments. Among these, the medical segment holds a significant share of the market owing to the increasing demand of cannabis in pharmaceutical applications. Cannabis is being increasingly adopted to treat medical conditions, like cancer, arthritis, Alzheimer's disease, and neurological disorders, among others. Further, the growing incidence of chronic pain is leading to a rise in demand for the product in pain management therapies with minimal side effects, thus, aiding the overall market growth.

The global legal marijuana market is dominated by the North America region, with the United States being the major growth driving region in the market. The United States is the world's largest market for legal cannabis, supported by favourable government policies. The presence of a large pool of patients with chronic pain and the growing geriatric population is driving the demand for medical marijuana, which is being preferred over opioid painkillers in the region.

 

Legal Marijuana Market

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Properties and Applications

Marijuana refers to the viable seeds, leaves, and flowers of the cannabis plant. Cannabis, an annual, dioecious herb, is a genus of flowering plants in the family Cannabaceae. It is mostly used for recreational purposes or as a medicinal drug. However, it may also be utilised for spiritual purposes. The use and cultivation of cannabis are illegal in many countries of the world, but with the growing knowledge regarding its medicinal benefits, prohibition on its use is witnessing a steady decline.

Based on type, the industry is being segmented into:

  • Medical
  • Recreational

Based on the product, the market is divided into:

  • Buds 
  • Oil 
  • Tinctures 
  • Others

On the basis of the distribution channel, the industry is categorised into:

  • Pharmacy Stores
  • Online
  • Others

On the basis of application, the industry is divided into:

  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Legal Marijuana Market by Application

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Market Analysis

The growing legalisation of cannabis and favourable government policies is driving the demand for marijuana in different parts of the world. Different research studies have found the potential benefits of cannabis in various treatments, including cancer and neurological disorders, thus increasing its demand in the medical sector. Due to the increasing prevalence of chronic pain, the demand for the product is expected to grow as it helps to relieve pain symptoms with less risk of overdose and side effects as compared to opioids. The growing geriatric population is also expected to contribute to the growth of the medical marijuana market.

Moreover, owing to the rising disposable incomes, the consumers are ready to spend more for recreational purposes. Adults are in favour of some form of legal marijuana usage, and adult-use sales are expected to drive the growth of the industry in regions like the United States and Canada.

The increasing cannabis-related research and development activities and clinical trials, coupled with the rising applications of marijuana in the pharmaceutical sector, are expected to aid the overall industry growth significantly. This is expected to positively affect the expansion of the global legal marijuana market in the next five years.

 

Legal Marijuana Market by Region

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Competitive Landscape

The report gives a detailed analysis of the following key players in the global legal marijuana market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Canopy Growth Corp.
  • Aphria, Inc
  • Aurora Cannabis
  • Maricann Group, Inc.
  • GW Pharmaceuticals, plc.
  • VIVO Cannabis Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Legal Marijuana Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Legal Marijuana Historical Market (2016-2020) 
    8.3    Global Legal Marijuana Market Forecast (2021-2026)
    8.4    Global Legal Marijuana Market by Type
        8.4.1    Medical
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Recreational
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Legal Marijuana Market by Product
        8.5.1    Buds
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Oil
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Tinctures
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Others
    8.6    Global Legal Marijuana Market by Distribution Channel
        8.6.1    Pharmacy Stores
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Online
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Others
    8.7    Global Legal Marijuana Market by Application
        8.7.1    Chronic Pain
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Mental Disorders
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Cancer    
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Others
    8.8    Global Legal Marijuana Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis
    12.1    North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    12.2    Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
    12.3    Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
    12.4    Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    12.5    Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
13    Competitive Landscape
    13.1    Market Structure
    13.2    Key Players 
    13.3    Company Profiles
        13.3.1    Canopy Growth Corp.
            13.3.1.1    Company Overview
            13.3.1.2    Product Portfolio
            13.3.1.3    Demographic Reach and Achievements
            13.3.1.4    Certifications
        13.3.2    Aphria, Inc
            13.3.2.1    Company Overview
            13.3.2.2    Product Portfolio
            13.3.2.3    Demographic Reach and Achievements
            13.3.2.4    Certifications
        13.3.3    Aurora Cannabis
            13.3.3.1    Company Overview
            13.3.3.2    Product Portfolio
            13.3.3.3    Demographic Reach and Achievements
            13.3.3.4    Certifications
        13.3.4    Maricann Group, Inc.
            13.3.4.1    Company Overview
            13.3.4.2    Product Portfolio
            13.3.4.3    Demographic Reach and Achievements
            13.3.4.4    Certifications
        13.3.5    GW Pharmaceuticals, plc.
            13.3.5.1    Company Overview
            13.3.5.2    Product Portfolio
            13.3.5.3    Demographic Reach and Achievements
            13.3.5.4    Certifications
        13.3.6    VIVO Cannabis Inc.
            13.3.6.1    Company Overview
            13.3.6.2    Product Portfolio
            13.3.6.3    Demographic Reach and Achievements
            13.3.6.4    Certifications
        13.3.7    Others
14    Industry Events and Developments


Additional Customisation Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operations Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location, and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Figures and Tables

1.    Global Legal Marijuana Market: Key Industry Highlights, 2016 and 2026
2.    Global Legal Marijuana Historical Market: Breakup by Type (USD Billion), 2016-2020
3.    Global Legal Marijuana Market Forecast: Breakup by Type (USD Billion), 2021-2026
4.    Global Legal Marijuana Historical Market: Breakup by Product (USD Billion), 2016-2020
5.    Global Legal Marijuana Market Forecast: Breakup by Product (USD Billion), 2021-2026
6.    Global Legal Marijuana Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
7.    Global Legal Marijuana Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
8.    Global Legal Marijuana Historical Market: Breakup by Application (USD Billion), 2016-2020
9.    Global Legal Marijuana Market Forecast: Breakup by Application (USD Billion), 2021-2026
10.    Global Legal Marijuana Historical Market: Breakup by Region (USD Billion), 2016-2020
11.    Global Legal Marijuana Market Forecast: Breakup by Region (USD Billion), 2021-2026
12.    North America Legal Marijuana Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    North America Legal Marijuana Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Europe Legal Marijuana Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Europe Legal Marijuana Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Asia Pacific Legal Marijuana Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Asia Pacific Legal Marijuana Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Latin America Legal Marijuana Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Latin America Legal Marijuana Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Middle East and Africa Legal Marijuana Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Middle East and Africa Legal Marijuana Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    North America Historical Price Trends and Forecast 2016-2026
23.    Europe Historical Price Trends and Forecast 2016-2026
24.    Asia Pacific Historical Price Trends and Forecast 2016-2026
25.    Latin America Historical Price Trends and Forecast 2016-2026
26.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
27.    Global Legal Marijuana Market Structure

Key Questions Answered in the Report

What was the global legal marijuana market size in 2020?

In 2020, the global legal marijuana market attained a value of nearly USD 17 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 21% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 53 billion by 2026.

What are the major industry drivers?

The major drivers of the industry, such as growing awareness regarding the therapeutic applications of the product, favourable government policies, rising disposable incomes, increasing geriatric population, and the increasing prevalence of cancer, mental disorders, and chronic pain, are expected to aid the market growth.

What are the key industry trends of the global legal marijuana market?

The growing research and development activities related to cannabis is the key market trend guiding the growth of the legal marijuana market.

What are the major regional markets of legal marijuana, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest market share.

What are the major types of legal marijuana?

Medical and recreational are the major legal marijuana types in the industry.

What are the significant products of legal marijuana in the industry?

Buds, oil, and tinctures, among others, are the significant products available in the industry.

What are the major distribution channels of legal marijuana?

The major distribution channels of the product include pharmacy stores and online, among others.

What are the significant applications of the product?

Chronic pain, mental disorders, and cancer, among others, are the significant application segments of the product.

Who are the key industry players, according to the report?

The major players in the industry are Canopy Growth Corp., Aphria, Inc, Aurora Cannabis, Maricann Group, Inc., GW Pharmaceuticals, plc., and VIVO Cannabis Inc., among others.

Analyst Review

The global legal marijuana market attained a value of USD 17 billion in 2020, driven by favourable government initiatives and the rising prevalence of chronic pain among the growing geriatric population. Aided by the growing investments in cannabis-related R&D activities, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 21%. The legal marijuana market is projected to reach USD 53 billion by 2026.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the legal marijuana industry can be bifurcated into medical and recreational segments. On the basis of product type, the industry is divided into buds, oil, and tinctures, among others. By distribution channel, the industry is categorised into pharmacy stores and online, among others. Based on application, the industry is segmented into chronic pain, mental disorders, and cancer, among others. The major regional markets for legal marijuana are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Canopy Growth Corp., Aphria, Inc, Aurora Cannabis, Maricann Group, Inc., GW Pharmaceuticals, plc., and VIVO Cannabis 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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