Global Legal Marijuana and Cannabis Market by Type (Indoor, Greenhouse), By Application (Recreational, Medical) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global legal marijuana and cannabis market is expected to grow at a CAGR of 27.9% from 2018 to 2030. The growth in the market can be attributed to the legalization of marijuana for recreational and medical purposes across various countries. Additionally, the increasing awareness about the benefits of cannabis is also propelling the growth of this market. The global legal marijuana and cannabis market by type is segmented into indoor and greenhouse segments. The indoor segment is expected to dominate the global legal marijuana and cannabis market during the forecast period owing to factors such as technological advancements in this segment, which has led to an increase in efficiency levels, lower production costs, and higher yields as compared with greenhouses.



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Product Definition:

Legal marijuana is a term used to describe cannabis that has been legalized for medical or recreational use. The importance of legal marijuana and cannabis is significant because it allows people to access the drug in a safe and legal way.

Indoor:

Indoor is the cultivation of cannabis plants indoors, in complete darkness. Indoor cultivation helps preserve the potency of marijuana and protect it from external contaminants such as light, heat, and pollution. It also helps grow high quality marijuana with a higher yield than outdoor or greenhouse cultivation.

Greenhouse:

The greenhouse is a structure that is used to grow plants, vegetables, and herbs. It helps in increasing the yield of the crops by controlling various environmental factors such as humidity, temperature, and light. Greenhouses are also known as horticulture greenhouses or agricultural greenhouses. They are built using transparent polycarbonate sheets or glass panes to allow maximum sunlight in for growing plants inside it.

Application Insights:

Recreational application dominated the global market in 2017. Increasing demand for marijuana and cannabis products for recreational use has been a major factor driving the growth of this segment. Recreational applications include smoking, vaporization, drinking tea, coffee or chocolate with added marijuana and cannabis products, etc. Medical application is expected to be the fastest-growing segment over the forecast period owing to increasing usage of marijuana and its derivatives as an alternative treatment for various medical conditions including chronic pain; mental disorders; cancer; diabetes; cardiovascular diseases (CVDs); etc. Various therapeutic benefits such as anti-inflammatory properties along with antioxidant capabilities are believed to be responsible for numerous medical applications across various disease categories leading towards increased market share of this segment during the forecast period.

Global legal marijuana.

Regional Analysis:

The North American region accounted for the largest revenue share in 2017. The legalization of marijuana in Canada and the decriminalization of marijuana for both medical and adult-use in various states of the U.S., including California, Maine, Massachusetts, Nevada, Arizona, Washington D.C., Guam and Puerto Rico have contributed to its dominance over other regions during that period.

Moreover many countries such as Uruguay are about to follow suit by legalizing cannabis completely or partially which will further boost its demand globally over the forecast period. Moreover Latin America is one of the most lucrative markets due to increasing awareness regarding cannabis among millennials along with a rise in disposable income levels especially among middle class groups that make up approximately 60%of LATAM's population (Brazil being an exception).

Growth Factors:

Increasing legalization of marijuana for medical and recreational use: As of January 2018, 29 states and the District of Columbia have legalized marijuana for medical use, while 8 states and D.C. have legalized it for recreational use. This number is only expected to grow in the coming years, as more people come to see the benefits of cannabis-based treatments.
Growing acceptance among the general population: A recent Gallup poll found that 64% of Americans now support legalizing marijuana – an all-time high! This growing acceptance will help to further legitimize cannabis as a mainstream treatment option.
Advances in cannabinoid research: The last few years have seen a surge in cannabinoid research, with scientists uncovering new ways that these compounds can benefit human health. As this research continues to develop, it will only add to the growing body of evidence supporting cannabis’ therapeutic potential.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Legal Marijuana and Cannabis Market Research Report
By Type
Indoor, Greenhouse
By Application
Recreational, Medical
By Companies
Medicine Man, Canopy Growth, Aphria, Aurora Cannabis Inc., mCig Inc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
222
Number of Tables & Figures
156
Customization Available
Yes, the report can be customized as per your need.

Global Legal Marijuana and Cannabis Market Report Segments:
The global Legal Marijuana and Cannabis market is segmented on the basis of:
Types
Indoor, Greenhouse
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Recreational, Medical
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Medicine Man
Canopy Growth
Aphria
Aurora Cannabis Inc.
mCig Inc



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Highlights of The Legal Marijuana and Cannabis Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Indoor
Greenhouse
By Application:
Recreational
Medical
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Legal Marijuana and Cannabis Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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