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Global Legal Cannabis Market is expected to foresee significant growth. North America to lead the growth!

Global legal cannabis market is expected to register a CAGR of approx. 24% over the period of 2022-2028. Cannabis (Cannabis sativa) is a medicinal plant. It contains cannabinoids such as delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD). Cannabis cannabinoids work by binding to specific sites in the brain and on nerves. There are over 100 cannabinoids in cannabis, but THC and CBD have received the most attention. Cannabinoids are found in the highest concentrations in the plant’s leaves and flowers. Cannabis is a popular recreational drug. Cannabis is also commonly used to treat multiple sclerosis (MS) and nerve pain.  The global legal cannabis market is growing due to cannabis being used medically to treat patients with a variety of chronic conditions, such as Parkinson’s, Alzheimer’s, and other neurological diseases around the globe.  For instance, according to the National Health Service United Kingdom 2019, there were about 28 million people in the United Kingdom with chronic pain, with around 10-14% of them experiencing moderate-to-severe disabling pain. Owing to these glaring statistics the demand for legal cannabis is anticipated to grow in the forthcoming years as the increasing volume of patients suffering from various types of chronic pain and diseases boosted the growth of the legal cannabis industry. Moreover, an increasing number of R&D and clinical trial activities is fueling the demand for the legal cannabis market. Furthermore, children affected by disorders such as epilepsy are encouraged to use cannabis-infused oil is expected to drive the market for legal cannabis market in the coming years.

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Based on the source, the legal cannabis market is segmented into marijuana and hemp. The marijuana segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe due to the increasing rate of legalization. The use of medical marijuana is acceptable in several countries including the U.S., Canada, Italy, etc.

Based on the derivatives, the market is fragmented into CBD, THC, and others. The CBD segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period since both the scientific community and consumers recognize CBD’s effectiveness. Compared to the commonly prescribed traditional medications, CBD has been shown to be effective in treating nausea associated with chemotherapy and epileptic seizures. CBD has been studied for the treatment of anxiety and sleep disorders, and it was discovered to have positive effects on patients during the study; however, the long-term effects have yet to be studied.


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For a better understanding of the market adoption of the legal cannabis, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the legal cannabis industry in 2021, owing to the growing various medical cannabis and therapeutic uses of cannabis products as well as the potential impact of cannabis legalization on the U.S. economy. For instance, in February 2020, Verda Innovations, a medical cannabis-based company in the U.S. announced the launch of its legal cannabis e-commerce and delivery platform in Canada, and U.S. Launch of such online platforms is one of the major factors expanding growth. Thus, increase in the number of countries legalizing it and an increase in the number of prescriptions filled for medicinal marijuana biopharmaceutical companies and the diagnostics industry owing to the presence of well-established market players and frequent product launches in the region.

Some of the major players operating in the market include Canopy Growth Corporation; Jazz Pharmaceuticals, Inc; Aurora Cannabis Inc; Tilray Inc; The Cronos Group; Sundial Growers Inc.; CARA THERAPEUTICS, INC; Medical Marijuana, Inc; Pfizer Inc.; and VIVO Cannabis Inc.


Global Legal Cannabis Market Segmentation


Market Insight, by Source

  • Marijuana
  • Hemp


Market Insight, by Derivative

  • CBD
  • THC
  • Others


Market Insight, by End-User

  • Medical Use
  • Recreational Use
  • Industrial Use


Market Insight, by Region

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Australia
    • Japan
    • Rest of Asia-Pacific
  • Rest of World


Top Company Profiles

  • Canopy Growth Corporation
  • Jazz Pharmaceuticals, Inc
  • Aurora Cannabis Inc
  • Tilray Inc
  • The Cronos Group
  • Sundial Growers Inc.
  • CARA THERAPEUTICS, INC
  • Medical Marijuana, Inc
  • Pfizer Inc.
  • VIVO Cannabis Inc
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