Marijuana which are actually used for medical purpose that are legal those are also called medical marijuana or cannabis. Medical Marijuana is a drug which is used for the treatment of chronic disease, cancer, Parkinson and other neurological disease.
Legal Marijuana Market was valued at US$ 17.48 Bn in 2021. The Legal Marijuana Market size is estimated to grow at a CAGR of 28.43 % over the forecast period.
Legal Marijuana Market overview:
The Legal Marijuana market’s competitive landscape comprises information about rivals. A firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination are among the topics covered. The following information is only relevant to the organization’s focus on the Legal Marijuana market.
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Legal Marijuana Market scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Segmentation:
Based on Product Type, concentrates segment is expected to dominate the market with highest CAGR during the forecast period. These concentrates are available as tinctures, ingestible oils, and dabbing. In most nations around the world, the oils and tinctures are widely used to treat a variety of chronic illnesses. These oils are applied topically to alleviate insomnia and to lessen tension. Additionally, cancer-related nausea and the feeling of vomiting are treated using medical cannabis and its derivatives. The large portion of the world’s population that uses this oil, which is popular, may help the legal marijuana market flourish.
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Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Legal Marijuana market-
- Canopy Growth Corporation
• Aurora Cannabis
• Aphria, Inc.
• Tilray
• ABcann Medicinals, Inc.
• The Cronos Group
• Maricann Group, Inc.
• Organigram Holding, Inc.
• Lexaria Corp.
• GW Pharmaceuticals
• United Cannabis Corporation
• Tikun Olam, Ltd.
• Organigram Holdings, Inc.
• Cresco Labs
Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter’s five forces analysis, and case studies.
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COVID-19 Impact Analysis on Legal Marijuana Market: Furthermore, the research assesses the impact of COVID-19 on the Legal Marijuana market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Legal Marijuana Market. The report focuses on market share and size, clearly demonstrating the pandemic’s influence on the worldwide Legal Marijuana Market in the next years.
Key Questions Answered in the Legal Marijuana Market Report are:
- What will be the Legal Marijuana market’s CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Legal Marijuana industry?
- Who are the key players in the Legal Marijuana market?
- What important trends in the Legal Marijuana industry are anticipated to develop throughout the forecast period?
- How big will the Legal Marijuana market be in 2027?
- In 2020, which business segment had the highest proportion of the Legal Marijuana market?
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