Legal Cannabis Market Research Report, Its History and Forecast 2024 to 2031

What is Legal Cannabis?

Legal Cannabis is a rapidly growing industry that has been experiencing significant expansion in recent years. Market research indicates that the global legal cannabis market is projected to reach nearly $75 billion by 2025, with a compound annual growth rate of over 20%. This growth can be attributed to the increasing acceptance and legalization of cannabis for medical and recreational use in various countries, as well as the growing consumer interest in alternative health and wellness remedies. As industry experts and consultants, it is crucial to stay informed about the evolving regulatory landscape and consumer trends in order to capitalize on the opportunities presented by this burgeoning market.

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This entire report is of 163 pages.

Study of Market Segmentation (2024 - 2031)

Legal cannabis market types include buds, oils, and other products such as edibles and tinctures. Buds refer to the dried flowers of the cannabis plant, oils are extracted concentrates, and other products include a variety of infused items. These different types cater to consumers' preferences and needs.

Legal cannabis market applications include chronic pain management, treatment of mental disorders, relief for cancer symptoms, and other health concerns. Cannabis has been utilized for its medicinal properties in alleviating various conditions, making it a versatile option for individuals seeking alternative forms of treatment.

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Legal Cannabis Market Regional Analysis 

The legal cannabis market has seen significant growth and adoption in regions like North America (NA), Asia Pacific (APAC), Europe, USA, and China. In North America, countries such as Canada and the United States have made significant strides in legalizing and regulating cannabis for both medical and recreational use. In Europe, countries like Germany and the Netherlands have also seen growth in the legal cannabis market. In the Asia Pacific region, countries like Australia and Japan are beginning to explore opportunities in the cannabis industry. In China, although the market is still largely underground, there is potential for growth as regulations evolve. Overall, the legal cannabis market is expected to continue expanding globally, with growing countries like Mexico, Colombia, and Israel emerging as key players in the industry.

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List of Regions: North America: United States, Canada, Europe: GermanyFrance, U.K., Italy, Russia,Asia-Pacific: China, Japan, South, India, Australia, China, Indonesia, Thailand, Malaysia, Latin America:Mexico, Brazil, Argentina, Colombia, Middle East & Africa:Turkey, Saudi, Arabia, UAE, Korea

Leading Legal Cannabis Industry Participants

Aurora Cannabis, Canopy Growth Corporation, and Medical Marijuana are market leaders in the legal cannabis industry, with a significant share of the market. Emerging companies like Bhang Corporation, CBD American Shaman, and NuLeaf Naturals are also making a mark in the industry with innovative products and strategies. These companies help to grow the legal cannabis market by creating a wide range of high-quality products, investing in research and development, expanding their distribution networks, and educating consumers about the benefits of cannabis. Mentor Capital, Folium Biosciences, and United Cannabis are also significant players in the industry, contributing to the growth of the market by providing capital, technology, and expertise to cannabis businesses. Overall, these companies are driving the growth of the legal cannabis market by promoting innovation, expanding access to legal cannabis products, and building consumer confidence in the industry.

• Aurora Cannabis
• Bhang Corporation
• Canopy Growth Corporation
• Medical Marijuana
• Mentor Capital
• Cannoid
• CBD American Shaman
• CV Sciences
• Elixinol
• Folium Biosciences
• IRIE CBD
• Meadow Care
• mCig
• NuLeaf Naturals
• Pharmahemp
• Terra Tech
• United Cannabis

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Market Segmentation:

In terms of Product Type, the Legal Cannabis market is segmented into:

• Buds
• Oils
• Others

In terms of Product Application, the Legal Cannabis market is segmented into:

• Chronic Pain
• Mental Disorders
• Cancer
• Others

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The available Legal Cannabis Market Players are listed by region as follows:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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The Legal Cannabis market disquisition report includes the following TOCs:

1. Legal Cannabis Market Report Overview


2. Global Growth Trends


3. Legal Cannabis Market Competition Landscape by Key Players


4. Legal Cannabis Data by Type


5. Legal Cannabis Data by Application


6. Legal Cannabis North America Market Analysis


7. Legal Cannabis Europe Market Analysis


8. Legal Cannabis Asia-Pacific Market Analysis


9. Legal Cannabis Latin America Market Analysis


10. Legal Cannabis Middle East & Africa Market Analysis


11. Legal Cannabis Key Players Profiles Market Analysis


12. Legal Cannabis Analysts Viewpoints/Conclusions


13. Appendix

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Legal Cannabis Market Dynamics ( Drivers, Restraints, Opportunity, Challenges)

The legal cannabis market is primarily driven by increasing legalization for medical and recreational use, growing consumer acceptance, and the potential for substantial revenue generation. However, regulatory complexities, limited access to banking services, and inconsistent legal frameworks across states present significant restraints. The market offers lucrative opportunities for expansion into new geographies and product offerings, amidst evolving consumer preferences and innovative product formulations. Nevertheless, challenges such as stringent regulations, quality control issues, and competition from illicit markets continue to pose obstacles to the growth and sustainability of the legal cannabis industry.

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