Legal Marijuana Market Share, Size, Trends, Industry Analysis Report By Type (Medical, Adult Use); By Product Type (Buds, Oils, Tinctures), By Application (Medical (Chronic Pain, Mental Disorders, Cancer, Others), Industrial Hemp, Recreational), By Compound (Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, Balanced THC & CBD), By Mode Of Delivery (Capsules, Concentrates, Edibles and Others); By Regions, Segments & Forecast, 2020- 2027

Report Summary

The global Legal Marijuana Market is estimated to be USD 16.4 Billion in 2019, expected to grow at CAGR of 21.2% during the forecast period. Legalization of the product in many countries coupled with the effectiveness of cannabis in health applications is expected to propel the market growth over the forecast period. In addition, continuous R&D pertaining to the side effects of cannabis such as prolonged cough, respiratory infections and development of novel ways to offset them is a major market trend.

Cannabis are used in treating diseases such as Alzheimer’s disease, Parkinson’s disease, stress, panic disorders among others. It is also used for treating persistent diseases such as neurological disorders, arthropathy, malignance, among others. The rising occurrence of these diseases across the globe combined with the efficacy of Legal Marijuana is expected to propel market growth.

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Increasing awareness regarding Legal Marijuana usage for treating ailments across the globe is also expected to propel market growth. Cannabis is a flowering plant genus and has been in use as a medicine from historic times. Cannabis ruderalis, Cannabis sativa and Cannabis indica are the dominant species of Legal Marijuana. Majority of the species of Legal Marijuana cultivated across the world is in hybrid form.

Cannabis Sativa is the major form from which hemp is derived. Hemp finds extensive applications in various end-uses such as biodegradable plastics, fuel, textiles and paper. Cultivators across the globe are favoring its cultivation due to strong demand and inherent advantages such as little or no requirement of pesticides, low requirement of industrial processing, and significantly low environmental impact. Some of the major exporters of the product include China, France and Canada among others.

Legal Marijuana Market Report Scope

The market is primarily segmented on the basis of Type, Product, Application, Compound, Mode of Delivery and by geographic region.

Type	Product	Application	Compound	Mode of Delivery	By Region Type
Medical Adult use	Buds Oils & Concentrates Tinctures	Chronic Pain Mental Disorders Cancer Industrial Hemp Recreational Others	Tetrahydrocannabinol (THC)-Dominant Cannabidiol (CBD)-Dominant Balanced THC & CBD	Capsules Concentrates Edibles Others	North America (U.S., Canada, Mexico) Europe (Germany, Italy, Netherlands, Croatia, Poland, Czech Republic, Switzerland) Asia Pacific (Australia) Central & South America (Brazil, Colombia, Chile, Argentina, Uruguay) Middle East & Africa (Israel)

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Product Outlook

On the basis of product, the Legalized Cannabis market is segmented into buds, oils and tinctures. The buds’ section is expected to witness the highest growth over the next few years. The bud segment is also expected to witness the highest penetration over the forecast period. Buds compose of 0.1% to 1%CBD，15％至30％的THC，以及一些其他类型的大麻素的痕迹。蒸发器通常使用芽，蒸发器的普及不断普及，预计将有利于细分市场增长。

Concentrates are also expected to maintain significant growth rate over the next few years. There is a general belief that ingestion or vaporization of concentrates is a healthier way of Legal Marijuana consumption and this is benefitting the overall market demand. Availability of a wide product portfolio having various flavors are some of the factors benefitting the segment growth.

Application Outlook

On the basis of application, the market has been segmented into Chronic Pain, Mental Disorders, Cancer, Industrial Hemp, Recreational and Others. Medical applications dominated the market in 2019 and are expected to do so over the forecast period. Out of the medical application segment, chronic pain emerged as the dominant segment and the same is expected to witness the maximum growth rate over the forecast period.

High prevalence of chronic cases in countries including the U.S, Japan, China, India and Brazil compared with the efficacy of Legal Marijuana in soothing the pain is expected to benefit the segment growth over the next six years. High occurrence of mental diseases such as epilepsy is expected to benefit the market for mental diseases treatment. Rising clinical evidence combined with ongoing R&D activities pertaining to usage of Legal Marijuana for treating mental disorders is benefitting the overall market growth.

Regional Outlook

North America dominated the market in 2019 and is anticipated to do so till the end of the forecast period. The regional market demand is expected to grow at a brisk pace as well. The growth in the U.S. as well as Canadian market are the major contributors to this scenario. Increasing legalization in these two countries for a wide application portfolio is benefitting the Legal Marijuana demand in the region. Presence of major international participants in the region, competitive strategies adopted by them as well as efforts taken by them pertaining to increasing the product awareness is expected to fuel the North America Legal Cannabis market demand.

亚太地区预计将见证gr最高owth rate over the forecast period. In Asia Pacific countries such as India, legalization of cannabis is often viewed with skepticism and is often associated with abuse. However, in the recent past, particularly in Asia Pacific countries, there has been a substantial growth in voices advocating Legal Marijuana. According to the supporters, Legal Marijuana will in turn result in people practicing safe substance usage and will increase the overall medical application portfolio of the product. This is expected to result in considerable relaxation of usage as well as sales in the region over the next few years.

Competitive Landscape

Companies operating in the Legal Marijuana market have to ensure strict compliance to rules, regulations and guidelines prescribed by regulatory agencies, and these differ from country to country. Lack of uniformity in these guidelines prove tedious especially for multinational corporations. Moreover, these regulations are ambiguous in nature which also contributes negatively to the overall market growth. The industry can be characterized as one of the highly regulated industries with regulations differing from application to application. For instance, in the U.S., regulations are different for each application in various states of the country.

Rising demand across the globe has led companies to optimize their production, delivery and marketing systems in order to tackle the challenge of varying regulatory compliance. Development of advanced and novel products by introducing sustainable and advanced strains and R&D associated with it are some of the key industry trends. Companies have also conducted extensive R&D pertaining to the genetics and agronomics of Legal Marijuana in order to achieve superior product yield. Some of the major market participants include Cannabis Sativa, Inc., United Cannabis Corporation., Tikun Olam, Ltd., Tilray., Lexaria Corp., GW Pharmaceuticals, plc., Canopy Growth Corporation., Aurora Cannabis, Aphria, Inc, and Maricann Group, Inc. among others.