According to this latest publication from Meticulous Research®, the global legal marijuana market is expected to grow at a CAGR of 28.3% from 2019 to 2025 to reach $75.6 billion by 2025. The global legal marijuana market is majorly driven by increasing legalization of marijuana across the globe, growing medicinal application of marijuana, rising geriatric population who need treatment for chronic diseases, and growing awareness about the application of marijuana. In addition, huge untapped market provides significant opportunity for the growth of the legal marijuana market. However, the high cost associated with legal marijuana and strict regulations against usage of marijuana obstructs the growth of this market to some extent.

 

Key Market Segments to Watch

 

This study provides assessment of the global legal marijuana market on the basis of product type (buds / marijuana flower and marijuana extracts), marijuana extracts (oil, tinctures, and others), species (cannabis indica, cannabis sativa, and cannabis hybrid), strains (THC-dominant, CBD-dominant, and balanced THC and CBD), purchase channel (online and offline), application (medical, recreational, and cosmetics and others), medical application (chronic pain, mental disorders, cancer, and others), and end-use industries (pharmaceutical; food, beverages, and tobacco; personal care; and research and development centers). The study also evaluates industry competitors and analyses the market at country level.

 

Based on product type, the global legal marijuana market is segmented into buds/ marijuana flower and marijuana extracts. Buds / marijuana flower held the largest market share of the global legal marijuana market in 2018. The large share of this segment is mainly attributed to the presence of large number of tobacco smokers.

 

Based on strains, the CBD-dominant strains are expected to witness a rapid growth during the forecast period. The rapid growth of market is attributed to the fact that CBD has a broader therapeutic index compared to THC; and it is believed to help with appetite stimulation, bone-growth stimulation, immunosuppression, and neuroprotection.

 

Based on application, legal marijuana market is segmented into three major segments namely, medical, recreational, and cosmetics and others. Medical segment accounted for the largest share of the global legal marijuana market in 2018. However, recreational application segment is expected to witness a rapid growth during the forecast period. The rapid growth of this market is primarily attributed growth in the number of consumers after legalization and growing trend of consuming marijuana as a substitution to alcohol. 

 

This research report analyzes major geographies and provides comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The North America accounted for the largest share of the North America legal marijuana market in 2018. The region is also expected to witness the fastest growth during the forecast period. The major share of this region is mainly attributed to changing people's attitude toward marijuana use, large base of marijuana consumers, presence of key players in the region, rising acceptance for both medical and recreational purposes, and increasing investment from leading players.

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Key Players

 

The key players profiled in the global legal marijuana market report are Canopy Growth Corporation (Canada), Aphria, Inc. (Canada), Aurora Cannabis Inc. (Canada), Maricann Group, Inc. (Canada), Tilray, Inc. (Canada), Cronos Group Inc. (Canada), OrganiGram Holding Inc. (Canada), VIVO Cannabis Inc. (Canada), Tikun Olam Ltd. (Israel), The Green Organic Dutchman Holdings Ltd. (Canada), Terra Tech Corp. (U.S.), Medical Cannabis, Inc. (U.S.), Stenocare A/S (Denmark), Cannabis Science, Inc. (U.S.), and HEXO Corp. (Canada).

Scope of the report

Legal Marijuana Market, by Product Type

Buds / marijuana Flower

Cannabis Extracts

Oil

Tinctures

Others

Legal Marijuana Market, by Species

Cannabis Indica

Cannabis Sativa

Cannabis Hybrid

Legal Marijuana Market, by Strain

THC-dominant

CBD-dominant

Balanced THC and CBD

Legal Marijuana Market, by Purchase Channel

Online

Offline

Legal Marijuana Market, by Application

Medical

Chronic Pain

Mental Disorders

Cancer

Others

Recreational

Cosmetics & Others

Legal Marijuana Market, by End-User

Pharmaceutical

Food, Beverages, and Tobacco

Personal Care

Research and Development Centres

Legal Marijuana Market, by Geography

North America

U.S.

Canada

Europe

Germany

U.K.

France

Italy

The Netherlands

Rest of Europe

Asia-Pacific

Australia

South Korea

Rest of Asia-Pacific

Latin America

Argentina

Colombia

Uruguay

Rest of Latin America

Middle East and Africa

South Africa

Israel

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