Meticulous Research® – leading global market research company published a research report titled “Legal Cannabis Market by Product Type (Buds, Cannabis Extracts), Species (Sativa, Indica), Strains (THC, CBD), Purchase Channel, Application (Medical, Recreational), End-Use, and Geography – Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global legal cannabis market is expected to grow at a CAGR of 28.3% from 2019 to 2025 to reach $75.6 billion by 2025. The global legal cannabis market is majorly driven by increasing legalization of cannabis across the globe, growing medicinal application of cannabis, rising geriatric population who need treatment for chronic diseases, and growing awareness about the application of marijuana. In addition, huge untapped market provides significant opportunity for the growth of the legal cannabis market. However, the high cost associated with legal cannabis and strict regulations against usage of cannabis obstructs the growth of this market to some extent.
Browse in-depth Report on https://www.meticulousresearch.com/product/legal-cannabis-market-5022/
Key Market Segments to Watch
This study provides assessment of the global legal cannabis market on the basis of product type (buds / cannabis flower and cannabis extracts), cannabis extracts (oil, tinctures, and others), species (cannabis indica, cannabis sativa, and cannabis hybrid), strains (THC-dominant, CBD-dominant, and balanced THC and CBD), purchase channel (online and offline), application (medical, recreational, and cosmetics and others), medical application (chronic pain, mental disorders, cancer, and others), and end-use industries (pharmaceutical; food, beverages, and tobacco; personal care; and research and development centers). The study also evaluates industry competitors and analyses the market at country level.
Based on product type, the global legal cannabis market is segmented into buds/ cannabis flower and cannabis extracts. Buds / cannabis flower held the largest market share of the global legal cannabis market in 2018. The large share of this segment is mainly attributed to the presence of large number of tobacco smokers.
Based on strains, the CBD-dominant strains are expected to witness a rapid growth during the forecast period. The rapid growth of market is attributed to the fact that CBD has a broader therapeutic index compared to THC; and it is believed to help with appetite stimulation, bone-growth stimulation, immunosuppression, and neuroprotection.
Based on application, legal cannabis market is segmented into three major segments namely, medical, recreational, and cosmetics and others. Medical segment accounted for the largest share of the global legal cannabis market in 2018. However, recreational application segment is expected to witness a rapid growth during the forecast period. The rapid growth of this market is primarily attributed growth in the number of consumers after legalization and growing trend of consuming cannabis as a substitution to alcohol.
This research report analyzes major geographies and provides comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The North America accounted for the largest share of the North America legal cannabis market in 2018. The region is also expected to witness the fastest growth during the forecast period. The major share of this region is mainly attributed to changing people’s attitude toward marijuana use, large base of cannabis consumers, presence of key players in the region, rising acceptance for both medical and recreational purposes, and increasing investment from leading players.
The key players profiled in the global legal cannabis market report are Canopy Growth Corporation (Canada), Aphria, Inc. (Canada), Aurora Cannabis Inc. (Canada), Maricann Group, Inc. (Canada), Tilray, Inc. (Canada), Cronos Group Inc. (Canada), OrganiGram Holding Inc. (Canada), VIVO Cannabis Inc. (Canada), Tikun Olam Ltd. (Israel), The Green Organic Dutchman Holdings Ltd. (Canada), Terra Tech Corp. (U.S.), Medical Marijuana, Inc. (U.S.), Stenocare A/S (Denmark), Cannabis Science, Inc. (U.S.), and HEXO Corp. (Canada).
Key questions answered in the report-
Which are the high growth market segments in terms of product type, species, strains, purchase channel, application, end-use industries, and countries?
What is the historical market for legal cannabis across the globe?
What are the market forecasts and estimates from the period 2019-2025?
What are the major drivers, restraints, opportunities, challenges, and trends in the global legal cannabis market?
Who are the major players in the global legal cannabis market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global legal cannabis market?
What are the different strategies adopted by the major players in the global legal cannabis market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global legal cannabis market and how do they compete with the other players?
Which will be the potential economies with respect to legal cannabis industry?
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