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Legal Marijuana Market

Global Legal Marijuana Market Size, Share, Growth, Forecast: By Type: Medical Marijuana, Recreational Marijuana; By Species: Sativa, Indica, Hybrid; By Product: Buds, Oils, Tinctures, Others; By Distribution Channel: Pharmacy Stores, Online, Others; By Application: Chronic Pain, Others; Regional Analysis; Supplier Landscape; 2024-2032

Global Legal Marijuana Market Outlook

The global legal marijuana market size was valued at USD 30.13 billion in 2023. The major drivers of the industry are 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. The market is anticipated to grow at a CAGR of 21% during the forecast period 2024-2032 to reach a value of USD 167.51 billion by 2032.

 

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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Market Segmentation

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 Corporation
  • Tilray Brands Inc.
  • Aurora Cannabis
  • Maricann Group Inc
  • Jazz Pharmaceuticals plc
  • VIVO Cannabis Inc
  • Others

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

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Species
  • Product
  • Distribution Channel
  • Application
  • Region
Breakup by Type
  • Medical Marijuana
  • Recreational Marijuana
Breakup by Species
  • Sativa
  • Indica
  • Hybrid
Breakup by Product
  • Buds
  • Oils
  • Tinctures
  • Others
Breakup by Distribution Channel
  • Pharmacy Stores
  • Online
  • Others
Breakup by Application
  • Chronic Pain
  • Mental Disorder
  • Cancer
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Canopy Growth Corporation
  • Tilray Brands Inc.
  • Aurora Cannabis
  • Maricann Group Inc
  • Jazz Pharmaceuticals plc
  • VIVO Cannabis Inc
  • Dr. Hemp Me.
  • Hemp Production Services
  • Medical Marijuana, Inc.
  • Gaia Herbs Farm
  • Lexaria Corp.
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
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Legal Marijuana Market Overview 

    3.1    Global Legal Marijuana Market Historical Value (2017-2023) 
    3.2    Global Legal Marijuana Market Forecast Value (2024-2032)
4    Global Legal Marijuana Market Landscape
    4.1    Global Legal Marijuana Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Legal Marijuana Product Landscape
        4.2.1    Analysis by Type
        4.2.2    Analysis by Species
        4.2.3    Analysis by Product
        4.2.4    Analysis by Distribution Channel
        4.2.5    Analysis by Application
5    Global Legal Marijuana Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Legal Marijuana Market Segmentation 
    6.1    Global Legal Marijuana Market by Type
        6.1.1    Market Overview 
        6.1.2    Medical Marijuana
        6.1.3    Recreational Marijuana
    6.2    Global Legal Marijuana Market by Species
        6.2.1    Market Overview 
        6.2.2    Sativa
        6.2.3    Indica
        6.2.4    Hybrid
    6.3    Global Legal Marijuana Market by Product
        6.3.1    Market Overview
        6.3.2    Buds
        6.3.3    Oils
        6.3.4    Tinctures
        6.3.5    Others
    6.4    Global Legal Marijuana Market by Distribution Channel
        6.4.1    Market Overview
        6.4.2    Pharmacy Stores
        6.4.3    Online
        6.4.4    Others
    6.5    Global Legal Marijuana Market by Application
        6.5.1    Market Overview
        6.5.2    Chronic Pain
        6.5.3    Mental Disorder
        6.5.4    Cancer
        6.5.5    Others
    6.6    Global Legal Marijuana Market by Region
        6.6.1    Market Overview
        6.6.2    North America 
        6.6.3    Europe
        6.6.4    Asia Pacific
        6.6.5    Latin America
        6.6.6    Middle East and Africa
7    North America Legal Marijuana Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Legal Marijuana Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Legal Marijuana Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Legal Marijuana Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Legal Marijuana Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Patent Analysis
    12.1    Analysis by Type of Patent
    12.2    Analysis by Publication year
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Patent Age
    12.5    Analysis by CPC Analysis
    12.6    Analysis by Patent Valuation 
    12.7    Analysis by Key Players
13    Grants Analysis
    13.1    Analysis by year
    13.2    Analysis by Amount Awarded
    13.3    Analysis by Issuing Authority
    13.4    Analysis by Grant Application
    13.5    Analysis by Funding Institute
    13.6    Analysis by NIH Departments
    13.7    Analysis by Recipient Organization 
14    Clinical Trials Analysis
    14.1     Analysis by Trial Registration Year
    14.2    Analysis by Trial Status
    14.3    Analysis by Trial Phase
    14.4    Analysis by Therapeutic Area
    14.5    Analysis by Geography
15    Funding and Investment Analysis
    15.1    Analysis by Funding Instances
    15.2    Analysis by Type of Funding
    15.3    Analysis by Funding Amount
    15.4    Analysis by Leading Players
    15.5    Analysis by Leading Investors
    15.6    Analysis by Geography
16    Partnership and Collaborations Analysis
    16.1    Analysis by Partnership Instances
    16.2    Analysis by Type of Partnership
    16.3    Analysis by Leading Players
    16.4    Analysis by Geography
17    Regulatory Framework
    17.1    Regulatory Overview
        17.1.1    US FDA
        17.1.2    EU EMA
        17.1.3    INDIA CDSCO
        17.1.4    JAPAN PMDA
        17.1.5    Others
18    Supplier Landscape
    18.1    Canopy Growth Corporation
        18.1.1    Financial Analysis
        18.1.2    Product Portfolio
        18.1.3    Demographic Reach and Achievements
        18.1.4    Mergers and Acquisitions
        18.1.5    Certifications
    18.2    Tilray Brands Inc.
        18.2.1    Financial Analysis
        18.2.2    Product Portfolio
        18.2.3    Demographic Reach and Achievements
        18.2.4    Mergers and Acquisitions
        18.2.5    Certifications
    18.3    Aurora Cannabis
        18.3.1    Financial Analysis
        18.3.2    Product Portfolio
        18.3.3    Demographic Reach and Achievements
        18.3.4    Mergers and Acquisitions
        18.3.5    Certifications
    18.4    Maricann Group Inc
        18.4.1    Financial Analysis
        18.4.2    Financial Portfolio
        18.4.3    Demographic Reach and Achievements
        18.4.4    Mergers and Acquisitions
        18.4.5    Certifications
    18.5    Jazz Pharmaceuticals plc
        18.5.1    Financial Analysis
        18.5.2    Product Portfolio
        18.5.3    Demographic Reach and Achievements
        18.5.4    Mergers and Acquisitions
        18.5.5    Certifications
    18.6    VIVO Cannabis Inc
        18.6.1    Financial Analysis
        18.6.2    Product Portfolio
        18.6.3    Demographic Reach and Achievements
        18.6.4    Mergers and Acquisitions
        18.6.5    Certifications
    18.7    Dr. Hemp Me.
        18.7.1    Financial Analysis
        18.7.2    Product Portfolio
        18.7.3    Demographic Reach and Achievements
        18.7.4    Mergers and Acquisitions
        18.7.5    Certifications
    18.8    Hemp Production Services
        18.8.1    Financial Analysis
        18.8.2    Product Portfolio
        18.8.3    Demographic Reach and Achievements
        18.8.4    Mergers and Acquisitions
        18.8.5    Certifications
    18.9    Medical Marijuana, Inc.
        18.9.1    Financial Analysis
        18.9.2    Product Portfolio
        18.9.3    Demographic Reach and Achievements
        18.9.4    Mergers and Acquisitions
        18.9.5    Certifications
    18.10    Gaia Herbs Farm
        18.10.1    Financial Analysis
        18.10.2    Product Portfolio
        18.10.3    Demographic Reach and Achievements
        18.10.4    Mergers and Acquisitions
        18.10.5    Certifications
    18.11    Lexaria Corp.
        18.11.1    Financial Analysis
        18.11.2    Product Portfolio
        18.11.3    Demographic Reach and Achievements
        18.11.4    Mergers and Acquisitions
        18.11.5    Certifications
19    Global Legal Marijuana Market - Distribution Model (Additional Insight)
    19.1    Overview 
    19.2    Potential Distributors 
    19.3    Key Parameters for Distribution Partner Assessment 
20    Key Opinion Leaders (KOL) Insights (Additional Insight)
21    Company Competitiveness Analysis (Additional Insight)

    21.1    Very Small Companies
    21.2    Small Companies
    21.3    Mid-Sized Companies
    21.4    Large Companies
    21.5    Very Large Companies
22    Payment Methods (Additional Insight)
    22.1    Government Funded
    22.2    Private Insurance
    22.3    Out-of-Pocket

 

*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The global legal marijuana market reached a value of USD 30.13 billion in 2023.

The market is anticipated to grow at a CAGR of 21% during the forecast period of 2024-2032 to reach a value of USD 167.51 billion by 2032.

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.

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

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.

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

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

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

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

The major players in the industry are Canopy Growth Corporation, Tilray Brands Inc., Aurora Cannabis, Maricann Group Inc, Jazz Pharmaceuticals plc, and VIVO Cannabis Inc, among others

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