About Legalized Cannabis
Legalized production of cannabis is that the production, sale, and possession of marijuana for recreational and medical usage. The broad legitimation of marijuana during this fashion will have various effects on the economy and society during which it's legalized. Legitimation provides governments the chance to control marijuana cultivation and sales by application, thereby making certain its contribution towards the country’s gross domestic product. Legitimation conjointly helps in moving cartels and contraband dealers out of business and reducing associated crime rates.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Canopy Growth Corporation (Canada), Aurora Cannabis (Canada), Aphria, Inc. (Canada), Tilray (Canada), ABcann Medicinals, Inc (Canada), The Cronos Group (Canada), Maricann Group, Inc. (Canada), Organigram Holding, Inc. (Canada) and Lexaria Corp. (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Curaleaf (United States).
Segmentation Overview
AMA Research has segmented the market of Global Legalized Cannabis market by Type (Buds / Cannabis Flower and Cannabis Extracts), Application (Chronic Pain, Mental Disorders, Cancer and Others) and Region.
On the basis of geography, the market of Legalized Cannabis has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Legalized Cannabis market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Product Development and Research and Development in New Product Introduction for Legal purpose like Medical, Pharmaceutical
Market Growth Drivers:
Rising Government investment in Cannabis Research and Development and Increasing Demand for Cannabis in Medical Purpose and Recreational Purpose
Challenges:
High Cost involved in Legal Cannabis and Availability of Substitutes in Market
Restraints:
Stringent Government Regulations Regarding Cannabis in Different Countries
Opportunities:
Rising Demand for the Legal Cannabis in Different Countries in Youth Population
Market Leaders and their expansionary development strategies
In 2021, Curaleaf, the largest cannabis company, acquired European marijuana company Emmac Life Sciences. This acquisition will help Curaleaf strengthen its product portfolio of legal cannabis and fetch the expertise and wide consumer base with the highly spread network for distribution of cannabis.
In 2021, Canopy Growth Corporation, a world-leading diversified cannabis and vaporization device company, has entered the high-potential U.S. CBD beverage category with the launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. Quatreau sparkling water consists of 20 mg of premium, hemp-based CBD and four refreshing flavors.
Key Target Audience
Legalized Cannabis Manufacturer, Supplier/Distributor, Raw Material Provider, Research Institutes, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.