Legal Marijuana Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028

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Legal Marijuana Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028

Status : May, 2020 | Pharmaceutical | PPT format

Report Digest


Global Legal Marijuana Market: Overview

The demand within the global market for legal marijuana has been increasing on account of growing awareness about the uses of marijuana in several medical applications.  Marijuana is a psychoactive drug that is derived from cannibes plant, and is used for several medical and recreational purposes. However, the legal use of marijuana has to undergo several phases of screening before it can be be distributed to the desired industries. Several countries have imposed strict restrictions on free-selling of marijuana due to the rising instances of drug-abuse and addiction. Furthermore, smuggling of the drug has led government to tighten security at import inlets and other avenues of entry. Owing to these factors, the growth of the global market for marijuana is sluggish and is faced with multiple roadblocks. However, several territories and regions have legalised selling of marijuana subject to the certain terms and conditions. Some of the states in the US have also permitted the usage of marijuana for recreational purposes, thus, giving an impetus to the growth of the global market for legal marijuana.

The global market for legal marijuana can be segmented based on the following parameters: end-use, distribution channel, and region. Since the market for marijuana is always under the radar of scrutiny, these segments play an important role in understanding the market dynamics.

A report on the global market for legal marijuana creates a basis to understand the key dynamics that have pervaded the market in recent times. The report not only portrays the intrinsic and extrinsic drivers of demand, but also elucidates the factors that retrain market growth.

Global Legal Marijuana Market: Trends and Opportunities

The demand within the global market for legal marijuana is driven by the extensive usage of this drug in several medical applications. Several scientists and medical practitioners have been testing he impacts of marijuana on the human body, and this has led to discovery of medications based on marijuana. This is another key factor that is expected to reap in tremendous revenues within the global market for legal marijuana. Furthermore, the demand for legal marijuana also comes from research laboratories, centers for bio- analysis, and medical research organisations. Owing to the aforementioned factors, the demand within the global legal marijuana market is projected to touch new heights in the years to come.

However, the use of legal marijuana continues to be a matter of scrutiny and regulation in multiple regional pockets. Owing to this factor, the growth of the global market for legal marijuana is projected to remain steady in the years to come. Nevertheless, the widespread usage of marijuana for recreational purposes is expected to keep enhancing the growth prospects of the market.

Global Legal Marijuana Market: Regional Outlook

The demand for legal marijuana has been escalating across North America, majorly due to the sale of the drug for recreation purposes in several territories of the US. Barring North America, no other regional market is projected to attract any substantial revenues in the years to come.

Global Legal Marijuana Market: Competitive Landscape

The market players in the global market for legal marijuana have been focusing on finding government approvals in order to enhance their prospects of growth over the coming years. Some of these key players in the global market are Canopy Growth Corporation, Aurora Cannabis, and Aphria, Inc.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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