The Global Legal Marijuana Market Report by Global Insight Services is the single and trusted source of information for the Legal Marijuana Market. This report provides an analysis of the market impact of the latest market disruptions such as the Russian-Ukraine War and Covid-19. The report provides a qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. The report includes in-depth segmentation and market size data by category, product type, application, and region. The report also includes a comprehensive analysis of recent events such as key issues, trends and drivers, restraints and challenges, competitive landscape, and M&A activity 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.
The legal marijuana industry is still in its early stages, and it is likely that new technologies will continue to be developed to support it. As the industry grows, these technologies will help to ensure that marijuana is grown, sold, and used in a safe and compliant manner.
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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.
3. Increased use of marijuana concentrates: Marijuana concentrates are becoming increasingly popular as they offer a more potent and efficient way to consume marijuana. This is especially true for medical marijuana patients who need a high dose of THC.
4. Development of new delivery methods: There is a growing demand for new and innovative ways to consume marijuana. This includes the development of new delivery methods such as cannabis-infused edibles and topicals.
5. Expansion of the retail market: As the legal marijuana market grows, so does the retail market. More and more dispensaries are opening up across the country, making it easier for consumers to access marijuana.
6. Growth of the online market: The online market for legal marijuana is also growing rapidly. This is due to the fact that it is easier and more convenient to purchase marijuana online.
7. Increase in investment: As the legal marijuana market continues to grow, so does investment in the industry. This is leading to the development of new products and businesses.
8. Increased scientific research: As marijuana becomes more mainstream, there is an increase in scientific research being conducted on the plant. This is leading to a better understanding of the plant and its potential medical applications.
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.
The recreational use of marijuana is another key driver of the legal marijuana market. The use of marijuana for recreation is legal in several countries including Canada, Uruguay, and some states in the US. The recreational use of marijuana is associated with several benefits such as stress relief, increased creativity, and improved sleep. In addition, the legalization of recreational marijuana is expected to drive the market growth.
The increasing investments in the marijuana industry are expected to drive the market growth. Several companies are investing in the research and development of marijuana-based products. In addition, the increasing number of mergers and acquisitions in the marijuana industry is expected to drive the market growth.
The growing acceptance of cannabis as a medicine and recreational drug is expected to drive the legal marijuana market growth. The legalization of marijuana in several countries is expected to drive the market growth. The increasing investments in the marijuana industry are expected to drive the market growth.
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Market Segments
By Product Type
- Flower
- Oil and Tinctures
By Application
- Medical
- Chronic Pain
- Cancer
- Depression and Anxiety
- Arthritis
- Diabetes
- Glaucoma
- Migraines
- Epilepsy
- Multiple Sclerosis
- AIDS
- Amyotrophic Lateral Sclerosis
- Alzheimer’s
- Post-traumatic Stress Disorder (PTSD)
- Parkinson’s
- Tourette’s
- Others
- Adult Use
Key Players
- Canopy Growth Corporation
- Aurora Cannabis
- Aphria Inc.
- Tilray
- Green Organic Dutchman Holdings Ltd.
- The Cronos Group
- MedReleaf Corp.
- Hydropothecary
- Maricann Group Inc.
- Supreme Cannabis Company Inc.
- Emblem Cannabis Corp.
- CannTrust Holdings Inc.
- Organigram Holdings Inc.
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