Global Legal Cannabis Market Growth 2023-2029

Global Legal Cannabis Market Growth 2023-2029

Cannabis is also known as hemp. Cannabis is a popular recreational drug around the world, only behind alcohol, caffeine and tobacco. In the United States alone, it is believed that over 100 million Americans have tried cannabis. Cannabis for industrial uses is valuable in tens of thousands of commercial products, especially as fibre ranging from paper, cordage, construction material and textiles in general, to clothing. Hemp is stronger and longer-lasting than cotton. It also is a useful source of foodstuffs (hemp milk, hemp seed, hemp oil) and biofuels. Hemp has been used by many civilizations, from China to Europe (and later North America) during the last 12,000 years. In modern times novel applications and improvements have been explored with modest commercial success.

LPI (LP Information)' newest research report, the “Legal Cannabis Industry Forecast” looks at past sales and reviews total world Legal Cannabis sales in 2022, providing a comprehensive analysis by region and market sector of projected Legal Cannabis sales for 2023 through 2029. With Legal Cannabis sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Legal Cannabis industry.

This Insight Report provides a comprehensive analysis of the global Legal Cannabis landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Legal Cannabis portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Legal Cannabis market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Legal Cannabis and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Legal Cannabis.

The global Legal Cannabis market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

The legality of cannabis for medical and recreational use varies by country, in terms of its possession, distribution, and cultivation, and (in regards to medical) how it can be consumed and what medical conditions it can be used for. Countries that have legalized the medical use of cannabis include Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, and the United Kingdom. Others have more restrictive laws that only allow the use of certain cannabinoid drugs, such as Sativex or Marinol.

This report presents a comprehensive overview, market shares, and growth opportunities of Legal Cannabis market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Buds
Oils
Others

Segmentation by application
Chronic Pain
Mental Disorders
Cancer
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Legal Cannabis market?

What factors are driving Legal Cannabis market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Legal Cannabis market opportunities vary by end market size?

How does Legal Cannabis break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.