About Legal Marijuana
Marijuana also called weed, herb, pot, grass, bud, ganja, Mary Jane, and a vast number of other slang terms, it is a greenish gray mixture of the dried flowers of Cannabis sativa. Marijuana include sinsemilla and concentrated resins which are stronger form of marijiuana containing high doses of marijuana’s active elements which includes honeylike hash oil, waxy budder, and hard amberlike shatter. These resins are gradually common among those who use them both recreationally and medically. Changes in marijuana policies across states legalizing marijuana for medical and/or recreational use recommend that marijuana is gaining larger acceptance in our society. Marijuana legalization consider the practical uses of marijuana especially for medical use.
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. Analyst at AMA Research estimates that Canadian and United States Players will contribute the maximum growth to Global Legal Marijuana market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Canopy Growth Corporation (United States), Aphria, Inc. (United States), Aurora Cannabis (Canada), Wayland Group (Canada), Tilray (Canada), The Cronos Group (Canada), Organigram Holding, Inc. (Canada), GW Pharmaceuticals, plc. (United Kingdom), Lexaria Corp. (Canada) and Medicine Man Technology (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are United Cannabis (United States), Terra Tech Corp (Canada), NuLeaf Naturals (United States) and mCig Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Legal Marijuana market by Type (Indoor and Greenhouse), Application (Chronic Pain, Mental Disorders, Cancer and Others) and Region.
On the basis of geography, the market of Legal Marijuana 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). If we see Market by End-Users, the sub-segment i.e. Healthcare Industry will boost the Legal Marijuana market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Need for Effective Pain Management Remedies and Legalization of Medicinal Marijuana Led To a Significant Decrease in the Black Market
Market Growth Drivers:
Increasing Use of Marijuana for Medical Use and Increasing Disease Burden of Chronic Pain
Challenges:
Strict Rules and Regulations Regarding the Product Sale and Cultivation
Restraints:
Can Lead To the Development Problem Known as Marijuana Use Disorder and Excess Consumption Effect the Brain
Opportunities:
Government Earnings through Taxation
Market Leaders and their expansionary development strategies
On May 2, 2019- Canopy Growth has announce that it has acquired German-based, Bionorica SE-founded C3 Cannabinoid Compound Company (“C3”) in a transformative deal that will see established single cannabinoid medicines brought together with the world’s leading full-spectrum medical cannabis offering.
In January 2024, Village Farms International, Inc., announced the launch of two cannabis brands in the UK, such as Pure Sunfarms and The Original Fraser Valley Weed Co. (Fraser Valley). 4C LABS, a UK-based medical cannabis company, will distribute these brands. and In March 2023, Canopy Growth introduced six new beverage flavors. Under the Deep Space brand, the company announced Canada's first cannabis-infused beverage with naturally occurring caffeine. The company also launched four flavors under the Tweed brand for springtime.
FDA has also approved two drugs containing a synthetic version of a substance that is present in the marijuana plant.
Key Target Audience
Manufacturers of Marijuana, Suppliers of Marijuana, Wholesalers, Distributors and Retailers of Marijuana, Healthcare Industry, Recreational Industry, Research Organization and Governmental Bodies
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.