Legal Cannabis Market

1. Legal Cannabis Market - North America, Europe & Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast The North America, Europe & Asia Pacific legal cannabis market size was valued at USD 23.05 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021– 2028. The growth of the market is attributed to the augmented use of marijuana and hemp products along with the growing demand for medical marijuana. Cannabis are three types of plants psychoactive plants, called as cannabis ruderalis, cannabis indica, and cannabis sativa. The flowers of the plants on collecting becomes one of the most known drugs in the world, which are known as pot, weed, or marijuana. The cultivation of cannabis is in practice from ancient time, cannabis is used with social leanings and spiritual. Cannabis is not only used to smoke and rolling joints anymore but are utilized in various products, which include topical and concentrates. Cannabis products are increasing in popularity with companies bringing in top-class advertising and packaging activities. The cannabis market is propelled by its therapeutic uses and medicinal properties. Request Sample link :- https://growthmarketreports.com/request-sample/2038 Market Trends, Drivers, Restraints, and Opportunities  Rising utilization of medical marijuana for the cure of chronic conditions is major factor propelling the market. Increasing awareness among a large number of the global population about the medical impacts and the ease of availability of the products is further boosting the approval of marijuana and hemp as well as its derivatives. This is driving the market growth. Growing numbers of quality farming products is anticipated to contribute greatly during the forecast period to the market growth. A complicated regulatory structure for the use of cannabis is estimated to act as a restraint for the market growth in the coming future.   

2.  Vague cannabis cultivation laws that make countries to import cannabis from countries such as Australia, Canada, and the Netherlands. These laws results in increased import costs and making the product expansive on the on the final pricing. This is anticipated to surge illicit activities of cannabis distribution, which otherwise would be presented at much low rates. This is expected to restrict the cultivation market in those countries. Market Segment Insights: Marijuana segment is expected to grow at a rapid pace Based on product types, the North America, Europe & Asia Pacific legal cannabis market is bifurcated into marijuana and hemp oil. The marijuana segment is further segmented into flower, oil, and tinctures. The marijuana segment is expected to grow at a rapid pace due to its vital medical benefits along with the increasing legalization of marijuana, for adult-use as well as medical. The flower segment has the major share of the marijuana segment as smoking flower is cheaper than the use of tinctures and hemp oils, which boosted its demand in the market. However, the hemp oil segment is estimated to magnify at a rapid pace during the forecast period owing to the growing use of hemp- derived products and the rising preference of hemp by the users due to its low content of Tetrahydrocannabinol (THC). Furthermore, the emergent use of hemp-derived Cannabidiol (CBD) in skincare and beauty products, gummies, beverages, capsules, and dog treats, is further bolstering the hemp oil segment in the coming future. Enquiry Link :- https://growthmarketreports.com/enquiry-before-buying/2038 Competitive Landscape Key players competing in the North America, Europe & Asia Pacific legal cannabis market are Maricann Group, Inc.; Aphria, Inc.; ABcann Medicinals, Inc.; Canopy Growth Corporation; The Cronos Group; GW Pharmaceuticals, plc.; Tilray; Aurora Cannabis; Organigram Holding, Inc.; and Lexaria Bioscience Corp. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. Contact: Growth Market Reports Phone: +1 909 414 1393 Email: sales@growthmarketreports.com Web: https://growthmarketreports.com Follow Us: LinkedIn | Twitter