Global Legal Marijuana Market report from Global Insight Services is the single authoritative source of intelligence on Legal Marijuana Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Since the early 1900s, marijuana has been regulated as a drug in the United States, with laws prohibiting its use, sale, and cultivation. In recent years, however, a number of states have legalized marijuana for medical or recreational use. This change in policy has led to a new industry of legal marijuana businesses, which are developing innovative technologies to support the cultivation, sale, and use of marijuana.
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Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the legal marijuana industry. Many businesses have been forced to close their doors due to the pandemic, and the industry as a whole has seen a decrease in sales. The decrease in sales is largely due to the fact that many people are staying home and not going out to purchase marijuana. However, some companies have been able to adapt and are now offering delivery and pick-up services. The pandemic has also caused many people to reconsider their use of marijuana, as they are now more aware of the potential health risks associated with the virus.
Key Trends
The legal marijuana market is growing rapidly as more and more states legalize the use of marijuana for medicinal and recreational purposes. The market is expected to continue to grow in the coming years as more states legalize marijuana and as the stigma surrounding marijuana use continues to dissipate.
Some of the key trends in the legal marijuana market include:
1. Increased demand for high-quality marijuana: As the legal marijuana market grows, there is an increasing demand for high-quality marijuana. This is especially true for medical marijuana patients who need a consistent and potent product.
2. More sophisticated cultivation methods: As the demand for high-quality marijuana increases, growers are using more sophisticated cultivation methods to produce better yields. This includes using hydroponic systems and LED lighting.
Key Drivers
The therapeutic applications of marijuana are expected to drive the market growth. The plant contains more than 100 active cannabinoids, which are responsible for its therapeutic effects. These cannabinoids interact with the endocannabinoid system of the human body, which is responsible for regulating various physiological and cognitive processes. The therapeutic benefits of marijuana include pain relief, anti-inflammatory, anti-anxiety, and anti-seizure properties.
By Product Type
- Flower
- Oil and Tinctures
By Application
- Medical
- Adult Use
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Key Players
- Canopy Growth Corporation
- Aurora Cannabis
- Aphria Inc.
- Tilray
- Green Organic Dutchman Holdings Ltd.
- The Cronos Group
- MedReleaf Corp.
- Hydropothecary
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