Legal Cannabis Market Size-Share, Growth Factors, Forecast 2023-2030
Global Legal Cannabis Market is expected to grow at a significant growth rate, and the forecast period is 2023-2030, considering the base year as 2022.
The Legal Cannabis Market has experienced unprecedented growth in recent years, driven by changing societal attitudes towards cannabis, increasing legalization efforts, and the recognition of its potential economic benefits. As more regions around the world embrace cannabis for medical and recreational use, the market has evolved into a dynamic and multifaceted industry. The market encompasses a wide range of products, including cannabis flower, edibles, concentrates, and pharmaceuticals, creating a diverse landscape with numerous opportunities for both established players and new entrants.
Leading Key Players Covered Legal Cannabis Market: -
Canopy Growth Corporation (Canada), Aphria Inc. (Canada), VIVO marijuana Inc. (Canada), OrganiGram Holding Inc. (Canada), Aurora marijuana Inc. (Canada), The Green Organic Dutchman (Canada), Atlas Growers (Canada), Maricann Group, Inc. (Canada), Tilray Inc. (Canada), Terra Tech Corp. (US), Stenocare A/S (Denmark), HEXO Corp. (Canada), Medical Cannabis Inc. (US), AlephSana GmbH (Germany), Tikun Olam Ltd. (Israel), Cannabis Science Inc. (US) and Other Major Players
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Market Driver:
One significant market driver propelling the Legal Cannabis Market is the growing acceptance of cannabis for medicinal purposes. Increasing awareness of the therapeutic properties of cannabis, along with a shift in regulatory frameworks favoring medical cannabis use, has fueled demand. The expanding list of medical conditions where cannabis is prescribed, such as chronic pain, epilepsy, and anxiety, is driving the market's growth. As more scientific research validates the medical efficacy of cannabis, it not only enhances consumer confidence but also attracts investments and stimulates innovation in product development.
Market Opportunity:
A key market opportunity lies in the emerging trend of cannabis-infused products and beverages. The shift towards alternative consumption methods, such as edibles and beverages, presents a vast opportunity for market players. As consumers seek discreet and convenient ways to incorporate cannabis into their lifestyles, the market for infused products is expected to witness significant growth. This includes a wide range of offerings, from cannabis-infused snacks and beverages to more sophisticated formulations catering to specific health and wellness needs. Companies that can successfully navigate this segment stand to capitalize on the evolving preferences of consumers.
Segmentation of Legal Cannabis Market: -
By Type
By Product Type
By Sales Channel
By Application
By End-User
By Region
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Wisconsin-based tribal group ramps up campaigns to legalize medical marijuana
After years of supporters failing to legalize cannabis in Wisconsin, Rob Pero is starting to unite tribal leaders in the state for a new lobbying and campaigning effort.
“Wisconsin is landlocked with a hypocrisy of prohibition,” he said, referring to surrounding states that have legalized cannabis.
Pero founded the Indigenous Cannabis Industry Association in 2022, which recently held its second…
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