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.This growth is primarily driven by Rising Government investment in Cannabis Research and Development and Increasing Demand for Cannabis in Medical Purpose and Recreational Purpose.
Globally, a noticeable market trend is evident Product Development and Research and Development in New Product Introduction for Legal purpose like Medical, Pharmaceutical. The Food Products sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
- Rising Government investment in Cannabis Research and Development
- Increasing Demand for Cannabis in Medical Purpose and Recreational Purpose
- Product Development and Research and Development in New Product Introduction for Legal purpose like Medical, Pharmaceutical
- Stringent Government Regulations Regarding Cannabis in Different Countries
Rising Demand for the Legal Cannabis in Different Countries in Youth Population
High Cost involved in Legal Cannabis and Availability of Substitutes in Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Legalized Cannabis Study Sheds Light on
The Legalized Cannabis Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Legalized Cannabis industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Legalized Cannabis industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Legalized Cannabis Market?
The Legalized Cannabis market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Legalized Cannabis Market?
Top performing companies in the Global Legalized Cannabis market are 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), to name a few.
3. Which region dominated the worldwide market for Legalized Cannabis in 2020?
North America is dominating the Legalized Cannabis Market.