Key factors which give growth to the Legal marijuana market are legalization in several countries and high demand for both medical and recreational purposes. A report on ‘Legal marijuana market’ compiled by Brand Essence Market Research provides a succinct analysis regarding the values and trends existing in the current business scenario.
The study also offers a brief summary of market valuation, market size, regional outlook and profit estimations of the industry. Furthermore, the report examines the competitive sphere and growth strategies of leading players in the Legal marijuana market.
Global Legal marijuana Market valued approximately $9.3 billion in 2016 is anticipated to grow with a healthy growth rate of more than 34.60% over the forecast period 2017-2025, to reach $134.9 billion.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters detailed information about crucial aspects such as driving factors & challenges which will define the future growth of the market.
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Additionally, the report incorporates available opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are by type: Medical and Recreational; by product, Buds, Oil, and Tinctures; by medical application: Chronic pain, Mental disorder, and Cancer.
Some of the key manufacturers involved in the market are Canopy Growth Corporation, Aphria Inc., Aurora cannabis, Maricann group Inc., Tilray, Cronos group, ABcann medicinal Inc., Tikum olam. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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The report has 90 pages of insight. It was published on May 6, 2020.