Global Legal Cannabis Market, By Compound (THC-Dominant, CBD-Dominant, Balanced THC, and CBD), By Ap

Published Date: | Report Code : HC1915657

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Legal Cannabis Market is projected to register high demand during the forecast period with increasing demand from major application such as medical and recreational during the forecast period. Cannabis, also known as marijuana, is a kind of a drug from the cannabis plant used for both recreational and medical purposes. The main part of the cannabis is the tetrahydrocannabinol. It is also called hemp but is only grown for medical purposes. Hemp is bred to produce less level of tetrahydrocannabinol. It is proven to cure many diseases including cancer, mental health problems, chronic pains, etc. Hemp is also made into oils, vapes, and other edible items.

The legalization of cannabis in South and North America, and Europe for recreational purposes has driven market growth. The wide use of cannabis for medicinal purpose is the main reason for the growth of the legal cannabis market. Over the past few years, investments by public and private organizations have led to the legal cannabis market. Moreover, a number of organizations and industries are now producing and developing medical cannabis. Furthermore, its legalization in Canada has also contributed to the growth of the legal cannabis market. Medical cannabis has led to market growth rather than recreational cannabis. North America is expected to account for the largest share of the legal cannabis market.   

Key Factors Impacting Market Growth:

  • Increasing use of medical cannabis to treat various patients
  • Legalization in certain states of America and Europe

Regional Outlook:

North America, Western Europe, and Asia Pacific by region are estimated to dominate the legal cannabis market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, the government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for legal cannabis market during the forecast period. 

The US, Germany, France, UK, Canada, and Spain have been some the major markets in the region. Asia Pacific is estimated to register one of highest CAGR for legal cannabis market during the forecast period. This region has witnessed strategic investments by global companies to cater the growing demand in the recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for legal cannabis market in the region. Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for legal cannabis during the forecast period.

Companies Covered: Aurora Cannabis Inc., Canopy Growth Corporation, Terra Tech Corp, Tikun Olam, Organigrams Holding Inc., Cannabis Science Inc., Maricann Group Inc., and Hexo…

Market Segmentation:

By Compound:

  • THC-Dominant
  • CBD-Dominant
  • Balanced THC
  • CBD

By Application:

  • Medical
  • Recreational

By Type:

  • Flowers
  • Concentrates

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Compound
    • By Application
    • By Type
  • South America
    • By Region (South America, Africa)
    • By Compound
    • By Application
    • By Type
  • Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Compound
    • By Application
    • By Type
  • Rest of the world
    • By Region (America, Africa)
    • By Compound
    • By Application
    • By Type

Reasons To Buy This Report:

  • Market size estimation of the cannabis market on regional and global basis
  • Unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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