The global legal marijuana market was valued at USD 10.0 billion in 2020 and is expected to reach USD 47.1 billion in 2027, growing at a CAGR of 24.9% during the forecast period.
Legal marijuana also is known as legal cannabis. It one of the premium cannabis varieties, which is used for recreational and medicinal reasons (psychoactive drugs). The use of marijuana for recreational purpose is anticipated to increase substantially growth over the forecast period, which may result in rising worldwide demand for legal marijuana. It is expected that the increasing disease burden of chronic pain and the growing need for effective global pain management remedies will increase the demand for legal cannabis. Similarly, it is expected that high cancer prevalence will enhance the demand in the market for legal marijuana.
The main growth factors for the global legal marijuana market include growing intake of medical marijuana for chronic disease treatment and rapid rise in the legalization of marijuana across developed countries. Moreover, product development in various end-use industries across the world is further enhancing demand and sales during the forecast period.
However, the illegality supply of marijuana is hampering the market growth for product development in various end-use industries across the world. Also, limited market access to marijuana in several Asian and African countries and medical marijuana legalization for limited indications are the major restraining factors in the market for the manufacturers near the future.
Legal Marijuana Market Segmentation |
|
| By Product Type | 1. Concentrates |
| 2. Capsules | |
| 3. Edibles | |
| 4. Buds | |
| 5. Oil | |
| 6. Others | |
| By Application | 1. Chronic Pain |
| 2. Mental Disorders | |
| 3. Cancer | |
| 4. Others | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico and Rest of Latin America) | |
| 5. Middle East & Africa (GCC and Rest of Middle East & Africa) | |
Based on the product type, the concentrate segment is expected to lead the market.
Based on the product type, the market has been segmented into concentrates, capsules, edibles, buds, oil, and others. The concentrate segment is predicted to hold nearly 25% in the global market in 2018. While buds segment is expected to grow at the highest CAGR in the legal marijuana market during the forecast period.
Based on the application, the cancer segment is expected to grow at the highest CAGR throughout the forecast period
Based on the application, the market has been segmented into chronic pain, mental disorders, cancer, and others. The cancer segment is expected to grow at the highest CAGR of around 28.5% in the global market owing to increase in the advancement in research heading by the local governments and leading manufacturing companies. Moreover, it is anticipated that the launch of the medical marijuana program and the cultivation and distribution of the product by governments of different countries will increase development in the forecast period.
North America to dominate the global legal marijuana market throughout the forecast period
The demand from North America is anticipated to stay the highest and expected to register approximately 46% market share in 2018. The growth in the region is due to the existence of a big customer pool and the legalization of medical marijuana in the U.S. and Canada. However, legalization in European countries, accompanied by stringent sales and cultivation laws and regulations, may limit Europe's general development and, in turn, the worldwide market. North America represented the biggest share of the revenue in 2018.
The cannabis industry is further driven by the existence of significant cannabis giants such as the Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc. who are continually investing and working together to develop fresh products to meet customer demand.The level of cannabis production in North America has risen quickly over the previous few years as a result of significant players expanding their manufacturing capacity.
Company Profiles and Competitive Intelligence:
The major players operating in the global legal marijuana market are Aphria Inc. (Canada), MedReLeaf Corp. (Canada), Sprott Inc.(Canada), Scotts Miracle-Gro Co.(US), Canopy Growth Corp.(Canada), GW Pharmaceuticals PLC (UK), Aurora Cannabis Inc.(Canada), Insys Therapeutics Inc. (US) and CanniMed Therapeutics Inc. (Canada) among others.
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TABLE OF CONTENT
Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Legal Marijuana Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Legal Marijuana Market
1.3. Market Dynamics
1.4. Global Legal Marijuana Market, by Segment, 2018
1.4.1. Global Legal Marijuana Market, by Product Type, 2018, (USD Million)
1.4.2. Global Legal Marijuana Market, by Application, 2018, (USD Million)
1.4.3. Global Legal Marijuana Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Global Legal Marijuana Market in Developed Vs. Developing Economies, 2018 vs 2026
1.5.2. Global Legal Marijuana Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. Growing intake of medical marijuana for chronic disease treatment
2.2.2. Rapid rise in the legalization of marijuana across developed countries
2.3. Market Restraints
2.3.1. Limited market access to marijuana in several Asian and African countries
2.3.2. Medical marijuana legalization for limited indications
2.4. Market Opportunities
2.4.1. Product development in various end-use industries across the world
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Legal Marijuana Market, by Product Type
3.1. Market Overview, by Product Type
3.1.1. Global Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Product Type, 2018
3.2. Concentrates
3.2.1. Global Legal Marijuana Market, by Concentrates, 2016-2026, (USD Million)
3.3. Capsules
3.3.1. Global Legal Marijuana Market, by Capsules, 2016-2026, (USD Million)
3.4. Edibles
3.4.1. Global Legal Marijuana Market, by Edibles, 2016-2026, (USD Million)
3.5. Buds
3.5.1. Global Legal Marijuana Market, by Buds, 2016-2026, (USD Million)
3.6. Oil
3.6.1. Global Legal Marijuana Market, by Oil 2016-2026, (USD Million)
3.7. Others
3.7.1. Global Legal Marijuana Market, by Others, 2016-2026, (USD Million)
Chapter 4 Global Legal Marijuana Market, by Application
4.1. Market Overview, by Application
4.1.1. Global Legal Marijuana Market, by Application, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Application, 2018
4.2. Chronic Pain
4.2.1. Global Legal Marijuana Market, by Chronic Pain, 2016-2026, (USD Million)
4.3. Mental Disorders
4.3.1. Global Legal Marijuana Market, by MentalDisorders, 2016-2026, (USD Million)
4.4. Cancer
4.4.1. Global Legal Marijuana Market, by Cancer, 2016-2026, (USD Million)
4.5. Others
4.5.1. Global Legal Marijuana Market, by Others, 2016-2026, (USD Million)
Chapter 5 Global Legal Marijuana Market, by Region
5.1. Market Overview, by Region
5.1.1. Global Legal Marijuana Market, by Region, 2016-2026, (USD Million)
5.2. Attractive Investment Opportunity, by Region, 2018
5.3. North America Legal Marijuana Market
5.3.1. North America Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
5.3.2. North America Legal Marijuana Market, by Application, 2016-2026 (USD Million)
5.3.3. United States Legal Marijuana Market, 2016-2026 (USD Million)
5.3.4. Canada Legal Marijuana Market, 2016-2026 (USD Million)
5.4. Europe Legal Marijuana Market
5.4.1. Europe Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
5.4.2. Europe Legal Marijuana Market, by Application, 2016-2026 (USD Million)
5.4.3. United Kingdom Legal Marijuana Market, 2016-2026 (USD Million)
5.4.4. Germany Legal Marijuana Market, 2016-2026 (USD Million)
5.4.5. France Legal Marijuana Market, 2016-2026 (USD Million)
5.4.6. Rest of Europe Legal Marijuana Market, 2016-2026 (USD Million)
5.5. Asia Pacific Legal Marijuana Market
5.5.1. Asia Pacific Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
5.5.2. Asia Pacific Legal Marijuana Market, by Application, 2016-2026 (USD Million)
5.5.3. China Legal Marijuana Market, 2016-2026 (USD Million)
5.5.4. Japan Legal Marijuana Market, 2016-2026 (USD Million)
5.5.5. India Legal Marijuana Market, 2016-2026 (USD Million)
5.5.6. Rest of Asia Pacific Legal Marijuana Market, 2016-2026 (USD Million)
5.6. Latin America Legal Marijuana Market
5.6.1. Latin America Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
5.6.2. Latin America Legal Marijuana Market, by Application, 2016-2026 (USD Million)
5.6.3. Brazil Legal Marijuana Market, 2016-2026 (USD Million)
5.6.4. Mexico Legal Marijuana Market, 2016-2026 (USD Million)
5.6.5. Rest of Latin America Legal Marijuana Market, 2016-2026 (USD Million)
5.7. Middle East & Africa Legal Marijuana Market
5.7.1. Middle East & Africa Legal Marijuana Market, by Product Type, 2016-2026 (USD Million)
5.7.2. Middle East & Africa Legal Marijuana Market, by Application, 2016-2026 (USD Million)
5.7.3. GCC Legal Marijuana Market, 2016-2026 (USD Million)
5.7.4. Rest of Middle East & Africa Legal Marijuana Market, 2016-2026 (USD Million)
Chapter 6 Competitive Intelligence
6.1. Top 5 Players Comparison
6.2. Market Positioning of Key Players, 2018
6.3. Market Players Mapping
6.3.1. By Product Type
6.3.2. By Application
6.3.3. By Region
6.4. Strategies Adopted by Key Market Players
6.5. Recent Developments in the Market
6.5.1. Mergers & Acquisitions, Partnership, New Product Type Developments
Chapter 7 Company Profiles
7.1. Aphria Inc.
7.1.1. Aphria Inc. Overview
7.1.2. Aphria Inc. Product Portfolio
7.1.3. Aphria Inc. Financial Overview
7.1.4. Aphria Inc. News/Recent Developments
7.2. MedReLeaf Corp.
7.2.1. MedReLeaf Corp. Overview
7.2.2. MedReLeaf Corp. Product Portfolio
7.2.3. MedReLeaf Corp. Financial Overview
7.2.4. MedReLeaf Corp. News/Recent Developments
7.3. Sprott Inc.
7.3.1. Sprott Inc. Overview
7.3.2. Sprott Inc. Product Portfolio
7.3.3. Sprott Inc. Financial Overview
7.3.4. Sprott Inc. News/Recent Developments
7.4. Scotts Miracle-Gro Co.
7.4.1. Scotts Miracle-Gro Co. Overview
7.4.2. Scotts Miracle-Gro Co. Product Portfolio
7.4.3. Scotts Miracle-Gro Co. Financial Overview
7.4.4. Scotts Miracle-Gro Co. News/Recent Developments
7.5. Canopy Growth Corp.
7.5.1. Canopy Growth Corp. Overview
7.5.2. Canopy Growth Corp. Product Portfolio
7.5.3. Canopy Growth Corp. Financial Overview
7.5.4. Canopy Growth Corp. News/Recent Developments
7.6. GW Pharmaceuticals PLC
7.6.1. GW Pharmaceuticals PLC Overview
7.6.2. GW Pharmaceuticals PLC Product Portfolio
7.6.3. GW Pharmaceuticals PLC Financial Overview
7.6.4. GW Pharmaceuticals PLC News/Recent Developments
7.7. Aurora Cannabis Inc.
7.7.1. Aurora Cannabis Inc. Overview
7.7.2. Aurora Cannabis Inc. Product Portfolio
7.7.3. Aurora Cannabis Inc. Financial Overview
7.7.4. Aurora Cannabis Inc. News/Recent Developments
7.8. Insys Therapeutics Inc.
7.8.1. Insys Therapeutics Inc. Overview
7.8.2. Insys Therapeutics Inc. Product Portfolio
7.8.3. Insys Therapeutics Inc. Financial Overview
7.8.4. Insys Therapeutics Inc. News/Recent Developments
7.9. CanniMed Therapeutics Inc.
7.9.1. CanniMed Therapeutics Inc. Overview
7.9.2. CanniMed Therapeutics Inc. Product Portfolio
7.9.3. CanniMed Therapeutics Inc. Financial Overview
7.9.4. CanniMed Therapeutics Inc. News/Recent Developments
7.10. Cara Therapeutics Inc.
7.10.1. Cara Therapeutics Inc. Overview
7.10.2. Cara Therapeutics Inc. Product Portfolio
7.10.3. Cara Therapeutics Inc. Financial Overview
7.10.4. Cara Therapeutics Inc. News/Recent Developments
Chapter 8 Preface
8.1. Data Triangulation
8.2. Research Methodology
8.2.1. Phase I – Secondary Research
8.2.2. Phase II – Primary Research
8.2.3. Phase III – Expert Panel Review
8.2.4. Approach Adopted
8.2.4.1. Top-Down Approach
8.2.4.2. Bottom-Up Approach
8.2.5. Supply- Demand side
8.2.6. Breakup of the Primary Profiles
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