Global Legal Marijuana Market Size To Exceed USD 250.85 Billion By 2035 | CAGR of 18.08%
Category: HealthcareGlobal Legal Marijuana Market Size To Exceed USD 250.85 Billion By 2035
According to a research report published by Spherical Insights & Consulting, the Global Legal Marijuana Market is Expected to Grow from USD 40.30 Billion in 2024 to USD 250.85 Billion by 2035, at a CAGR of 18.08% during the forecast period 2025-2035.
Get more details on this report -
Browse key industry insights spread across 240 pages with 140 Market data tables and figures & charts from the report on the " Global Legal Marijuana Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Flower, and Oil & Tinctures), By Application (Medical, and Adult Use), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035."Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/legal-marijuana-market
The "legal marijuana market" refers to the regulated industry that consists of the manufacturing, selling, and distribution of cannabis products that are permitted by federal, state, or local laws. It includes cannabis that is used both medicinally and recreationally, and it must adhere to strict compliance guidelines to ensure quality, safety, and taxation. The market is driven by shifting regulations, consumer demand, and investment patterns. Edibles, tinctures, oils, and buds are essential categories that have applications in medicine, pharmaceuticals, and personal care. The market is currently at a high growth stage and is growing quickly. The legal marijuana market has grown moderately to rapidly due to increased investment in research and development initiatives as well as increased consumer demand for edibles, pre-rolls, and vapes that contain cannabis. The market for legal marijuana is primarily being driven by shifting perceptions of cannabis use, increased legalization, and greater acceptance of cannabis for both medical and recreational use. The growing demand for goods containing CBD as a result of greater awareness of CBD (cannabidiol) and its therapeutic uses has propelled legal marijuana market expansion. However, the legal marijuana business faces significant challenges due to regulatory uncertainty and inconsistent rules between states and nations.
The oil & tinctures segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the legal marijuana market is divided into flower, and oil & tinctures. Among these, the oil & tinctures segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Numerous uses for marijuana oil and tinctures are being carefully studied. Marijuana oils are used by medical practitioners to treat nausea and vomiting associated with cancer.
The medical segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the legal marijuana market is divided into medical, and adult use. Among these, the medical segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The recent decriminalization and legalization of medical marijuana are among the factors that have driven this market's expansion.
North America is expected to hold the majority share of the global legal marijuana market during the forecast period.
Get more details on this report -
North America is expected to hold the majority share of the global legal marijuana market during the forecast period. Countries with sizable older populations are anticipated to expedite the legalization process due to clinical research verifying its efficacy as a pain reliever, which could promote the expansion of the sector in the North America region.
Asia Pacific is anticipated to grow at the fastest pace in the global legal marijuana market during the forecast period. Rapidly changing legal frameworks, expanding healthcare systems, and increased awareness of cannabis' potential therapeutic benefits are driving the Asia-Pacific region.
Major vendors in the global legal marijuana market are AURORA CANNABIS INC., Canopy Growth Corporation, Tikun Olam, ABcann Medicinals, Inc., The Cronos Group, Tilray Brands Inc., MARICANN INC., Lexaria Bioscience, Organigram Holdings Inc., GW Pharmaceuticals, United Cannabis Corporation, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In January 2024, two cannabis brands, Pure Sunfarms and The Original Fraser Valley Weed Co. (Fraser Valley), have been launched in the United Kingdom, according to Village Farms International, Inc. These products will be distributed by the UK-based medical cannabis firm 4C LABS.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the legal marijuana market based on the below-mentioned segments:
Global Legal Marijuana Market, Product Type
- Flower
- Oil & Tinctures
Global Legal Marijuana Market, By Application
- Medical
- Adult Use
Global Legal Marijuana Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?