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North America Legal Cannabis Market: By Products Derived: Marijuana, Industrial Hemp; By Distribution Channel: Regulated Dispensary, Recreational Stores, Stand-Alone Retailer, Others; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Competitive Landscape; Industry Events and Developments

North America Legal Cannabis Market Outlook

The North America legal cannabis market size was nearly USD 13 billion in 2019. The industry is further expected to grow at a CAGR of 27% over the forecast period of 2020-2025 to attain USD 54 billion by 2025.

The legal cannabis industry in North America is being driven by the growing medical applications of the product in the region and the implementation of favourable government policies. Within North America, the United States legal cannabis market is supported by the thriving medical cannabis industry. The United States medical cannabis industry accounts for a majority of the regional market share and is further expected to continue its dominance over the forecast period. It is estimated that 33% of the United States consumers utilise cannabis for both recreational and medical reasons. As CBD derived from hemp is legal to import and purchase in all 50 US states, it is expected to create an increased demand for industrial hemp, which in turn, will aid the overall industry growth in the region.

 

Properties and Applications

Cannabis, commonly called marijuana, is an annual flowering plant belonging to the Cannabaceae family, which is native to Central Asia and the Indian subcontinent. The plant is used for industrial, recreational, as well as medical purposes, owing to its psychoactive properties.

On the basis of derived products, the industry can be divided into:

  • Marijuana
  • Industrial Hemp

While marijuana finds applications in medical (migraine, arthritis, and cancer, among others) and recreational purposes, industrial hemp finds application in sectors like personal care, hemp CBD, consumer textiles, and food, among others.

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

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

The report also covers the major legal cannabis markets in North America, which include regions like the United States and Canada.

 

Market Analysis

The legal cannabis market in North America is being driven by the growing demand for cannabis for medical as well as recreational purposes, supported by favourable government policies. In the region, the cannabinoid is treated as a supplement, which is aiding the industry growth. The growing geriatric population and significant patient pool in the region are driving the product demand for medicinal purposes.

Within the United States, more states are moving towards the legalisation of cannabis and, thus, its applications are expected to increase significantly, especially in the medical industry. Different research studies have demonstrated the potential benefits of cannabis in cancer treatment, thus, increasing its demand for cancer therapy. Further, over 100 million Americans suffering from chronic pain rely on opioid painkillers such as Vicodin. Medical cannabis is found to have the potential to fight this opioid epidemic in the United States. As the FDA called for a ban on Opana ER, an opioid painkiller, due to public health reasons in April 2018, cannabis-derived drugs are increasingly being considered a substitute to opioids as they possess no risk of overdose and are less-addictive.

The growing cannabis-related research and development activities and new product launch by manufacturers and leading companies will further aid the legal cannabis industry growth in the future. The growing public support for the legalisation of marijuana and the shift towards hemp-based products are contributing to the industry growth. The growing popularity of CBD hemp oil, which is emerging as an essential part of a healthy lifestyle, is expected to aid the industry growth over the forecast period.

 

Competitive Landscape

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

  • Tilray
  • Marijuana Company of America, Inc
  • Others

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

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    Snapshot
    6.1    Global 
    6.2    North America
7    Industry Opportunities and Challenges
8    Global Legal Cannabis Market Overview

    8.1    Key Industry Highlights
    8.2    Global Legal Cannabis Historical Market (2015-2019) 
    8.3    Global Legal Cannabis Market Forecast (2020-2025)
    8.4    Global Legal Cannabis Market by Products Derived
    8.5    Global Legal Cannabis Market by Distribution Channel  
    8.6    Global Legal Cannabis Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    North America Legal Cannabis Market Analysis
    9.1    Key Industry Highlights
    9.2    North America Legal Cannabis Historical Market (2015-2019) 
    9.3    North America Legal Cannabis Market Forecast (2020-2025)
    9.4    North America Legal Cannabis Market by Products Derived
        9.4.1    Marijuana
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2015-2019)
            9.4.1.3    Forecast Trend (2020-2025)
            9.4.1.4    Breakup by Application
                9.4.1.4.1    Medical
                    9.4.1.4.1.1    Migraine
                    9.4.1.4.1.2    Arthritis
                    9.4.1.4.1.3    Cancer
                    9.4.1.4.1.4    Others
                9.4.1.4.2    Recreational Use
        9.4.2    Industrial Hemp
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2015-2019)
            9.4.2.3    Forecast Trend (2020-2025)
            9.4.2.4    Breakup by Application
                9.4.2.4.1    Personal Care
                9.4.2.4.2    Hemp CBD
                9.4.2.4.3    Food
                9.4.2.4.4    Consumer Textiles
                9.4.2.4.5    Others
    9.5    North America Legal Cannabis Market by Distribution Channel
        9.5.1    Regulated Dispensary
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2015-2019)
            9.5.1.3    Forecast Trend (2020-2025)
        9.5.2    Recreational Stores
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2015-2019)
            9.5.2.3    Forecast Trend (2020-2025)
        9.5.3    Stand-Alone Retailer
            9.5.3.1    Market Share
            9.5.3.2    Historical Trend (2015-2019)
            9.5.3.3    Forecast Trend (2020-2025)
        9.5.4    Others
    9.6    North America Legal Cannabis Market by Country
        9.6.1    Market Share
            9.6.1.1    United States of America
            9.6.1.2    Canada
10    Regional Analysis
    10.1    United States of America
        10.1.1    Historical Trend (2015-2019)
        10.1.2    Forecast Trend (2020-2025)
        10.1.3     Breakup by Products Derived
        10.1.4    Breakup by Application
        10.1.5    Breakup by Distribution Channel
        10.1.6    Breakup by Region
        10.1.7    Legal & Regulatory Framework
    10.2    Canada
        10.2.1    Historical Trend (2015-2019)
        10.2.2    Forecast Trend (2020-2025)
        10.2.3    Breakup by Products Derived
        10.2.4    Breakup by Application
        10.2.5    Breakup by Distribution Channel
        10.2.6    Breakup by Region
        10.2.7    Legal & Regulatory Framework
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyers Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    EMR’s Key Indicators for Demand
    11.4    EMR’s Key Indicators for Price
12    Value Chain Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players' Market Share
    13.3    Company Profiles (*This list is only indicative. The report contains a more comprehensive list of players.)
        13.3.1    Tilray
            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    Marijuana Company of America, 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    Others
14    Industry Events and Developments


List of Figures and Tables

1.    Global Legal Cannabis Market: Key Industry Highlights, 2015 and 2025
2.    Global Legal Cannabis Historical Market: Breakup by Products Derived (USD Billion), 2015-2019
3.    Global Legal Cannabis Market Forecast: Breakup by Products Derived (USD Billion), 2020-2025
4.    Global Legal Cannabis Historical Market: Breakup by Distribution Channel (USD Billion), 2015-2019
5.    Global Legal Cannabis Market Forecast: Breakup by Distribution Channel (USD Billion), 2020-2025
6.    Global Legal Cannabis Historical Market: Breakup by Region (USD Billion), 2015-2019
7.    Global Legal Cannabis Market Forecast: Breakup by Region (USD Billion), 2020-2025
8.    North America Legal Cannabis Market: Key Industry Highlights, 2015 and 2025
9.    North America Legal Cannabis Historical Market: Breakup by Products Derived (USD Billion), 2015-2019
10.    North America Legal Cannabis Market Forecast: Breakup by Products Derived (USD Billion), 2020-2025
11.    North America Legal Cannabis Historical Market: Breakup by Application (USD Billion), 2015-2019
12.    North America Legal Cannabis Market Forecast: Breakup by Application (USD Billion), 2020-2025
13.    North America Legal Cannabis Historical Market: Breakup by Distribution Channel (USD Billion), 2015-2019
14.    North America Legal Cannabis Market Forecast: Breakup by Distribution Channel (USD Billion), 2020-2025
15.    North America Legal Cannabis Historical Market: Breakup by Country (USD Billion), 2015-2019
16.    North America Legal Cannabis Market Forecast: Breakup by Country (USD Billion), 2020-2025
17.    United States of America Legal Cannabis Market: Key Industry Highlights, 2015 and 2025
18.    United States of America Legal Cannabis Historical Market: Breakup by Products Derived (USD Billion), 2015-2019
19.    United States of America Legal Cannabis Market Forecast: Breakup by Products Derived (USD Billion), 2020-2025
20.    United States of America Legal Cannabis Historical Market: Breakup by Application (USD Billion), 2015-2019
21.    United States of America Legal Cannabis Market Forecast: Breakup by Application (USD Billion), 2020-2025
22.    United States of America Legal Cannabis Historical Market: Breakup by Distribution Channel (USD Billion), 2015-2019
23.    United States of America Legal Cannabis Market Forecast: Breakup by Distribution Channel (USD Billion), 2020-2025
24.    United States of America Legal Cannabis Historical Market: Breakup by Region (USD Billion), 2015-2019
25.    United States of America Legal Cannabis Market Forecast: Breakup by Region (USD Billion), 2020-2025
26.    Canada Legal Cannabis Market: Key Industry Highlights, 2015 and 2025
27.    Canada Legal Cannabis Historical Market: Breakup by Products Derived (USD Billion), 2015-2019
28.    Canada Legal Cannabis Market Forecast: Breakup by Products Derived (USD Billion), 2020-2025
29.    Canada Legal Cannabis Historical Market: Breakup by Application (USD Billion), 2015-2019
30.    Canada Legal Cannabis Market Forecast: Breakup by Application (USD Billion), 2020-2025
31.    Canada Legal Cannabis Historical Market: Breakup by Distribution Channel (USD Billion), 2015-2019
32.    Canada Legal Cannabis Market Forecast: Breakup by Distribution Channel (USD Billion), 2020-2025
33.    Canada Legal Cannabis Historical Market: Breakup by Region (USD Billion), 2015-2019
34.    Canada Legal Cannabis Market Forecast: Breakup by Region (USD Billion), 2020-2025
35.    North America Legal Cannabis Market Structure

Key Questions Answered in the Report

In 2019, the North America legal cannabis market attained a value of nearly USD 13 billion.

The market is projected to grow at a CAGR of 27% between 2020 and 2025.

The market is estimated to witness a healthy growth in the forecast period of 2020-2025 to reach about USD 54 billion by 2025.

The major drivers of the industry, such as the increasing awareness regarding the health benefits of cannabis, growing utilisation of product for recreational purposes, growing geriatric population, rising demand for cannabis in the medical sector, and favourable government policies, are expected to aid the market growth.

The key market trends guiding the growth of the legal cannabis market include the launch of enhanced cannabis-based products and the growing investment by the government and private organisations in the research and development activities.

The major regional markets in the industry are the United States of America and Canada, with the United States accounting for the largest share in the market.

Marijuana and industrial hemp represent the major type of derived products in the industry.

The regulated dispensary, recreational stores, and stand-alone retailers are the most significant distribution channels of legal cannabis in the industry.

The major players in the industry are Tilray, Marijuana Company of America, Inc, and others.

Analyst Review

The North America legal cannabis market attained a value of USD 13 billion in 2019, driven by the rising product demand in the medical sector and the growing legalisation of cannabis in the region. Aided by the increased research and development activities and new product launches, the market is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 27%. The legal cannabis market is projected to reach USD 54 billion by 2025.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on derived products, the legal cannabis industry can be bifurcated into marijuana and industrial hemp. On the basis of distribution channels, the industry is divided into regulated dispensary, recreational stores, and stand-alone retailers, among others. The major regional markets for legal cannabis in North America are the United States and Canada, with the United States accounting for the largest share of the market. The key players in the above market include Tilray, and Marijuana Company of America, 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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