Global Legal Cannabis Market Overview:
Marijuana also called as cannabis, 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. Cannabis includes sinsemilla and concentrated resins which are a stronger form of cannabis 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 cannabis policies across states legalizing marijuana for medical and/or recreational use recommend that cannabis is gaining larger acceptance in our society. Marijuana legalization considers the practical uses of marijuana, especially for medical use. Some of the key players profiled in the study are 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).
On the basis of geography, the market of Legal 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). If we see Market by End-Users, the sub-segment i.e. Healthcare Industry will boost the Legal Cannabis market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Use of Cannabis for Medical Use
- Increasing Disease Burden of Chronic Pain
- Rising Need for Effective Pain Management Remedies
- Legalization of Medicinal Cannabis Led To a Significant Decrease in the Black Market
- Excess Consumption of Cannabis affects the Brain
- Government Earnings through Taxation
- Strict Rules and Regulations Regarding the Product Sale and Cultivation
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.
Canada had recently passed a nationwide legalization of recreational cannabis use, following Uruguay to become the second country to do so. According to CBC, Canada is one of only two countries, besides the Netherlands, that exports cannabis products, which allows companies in Canada to gain instant revenue from recent medical cannabis
Target Audience:Manufacturers of Cannabis, Suppliers of Cannabis, Wholesalers, Distributors, and Retailers of Cannabis, Healthcare Industry, Recreational Industry, Research Organization and Governmental Bodies
Major Objectives Focused through this Study To define, describe, and forecast the Global Legal Cannabis market on the basis of product [Indoor and Greenhouse] , application [Chronic Pain, Mental Disorders, Cancer and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Legal Cannabis market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Legal Cannabis industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are United Cannabis (United States), Terra Tech Corp (Canada), NuLeaf Naturals (United States) and mCig Inc. (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Legal Cannabis market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.