Though cannabis is popular across the globe, it is an illegally utilized drug as its use for various purposes is banned by myriad governments worldwide. The product is referred by names such as marijuana and hemp. In fact, hemp is used for psychological disorders as it has non-psychotic effects on the patients. Marijuana is used for medical or therapeutic purpose as well as recreational use.
Legalization is the process of removing a legal prohibition against something which is currently not legal. Legalization is a process often applied to what are regarded, by those working towards legalization, as victimless crimes, of which one example is the consumption of illegal drugs.
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Legalized Cannabis market size is estimated to be worth US$ 19910 million in 2021 and is forecast to a readjusted size of US$ 39400 million by 2028 with a CAGR of 9.8% during the forecast period 2022-2028
Legalized Cannabis Uses
By Type: Cannabis Herb, Cannabis Resin, Other.
By Application: Entertainment Venue, Medical Institutions, and Other
Top Companies: Dixie Elixirs, Cronos Group, Canopy Growth, Aurora Cannabis, ABcann Medicinals, Aphria, Maricann Group, and ABcann Medicinals.
Global Legalized Cannabis market size is estimated to be worth US$ 19910 million in 2021 and is forecast to a readjusted size of US$ 39400 million by 2028 with a CAGR of 9.8% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, the Europe Legalized Cannabis market is estimated at US$ million in 2022, while the United States and China are forecast to reach US$ million and US$ million by 2028, respectively.
The proportion of the United States is % in 2022, while Chinese percentage is %, and it is predicted that China market share will reach % in 2028, trailing a CAGR of % through the analysis period. As for the Europe Legalized Cannabis landscape, Germany is projected to reach US$ million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.