Legal Marijuana Market Forecasts to 2030 – Global Analysis By Product Type (Tinctures, Flower Buds, Oils, Topicals and Other Product Types), Compound, Mode of Delivery, Species, Distribution Channel, Application, End User and By Geography

Legal Marijuana Market Forecasts to 2030 – Global Analysis By Product Type (Tinctures, Flower Buds, Oils, Topicals and Other Product Types), Compound, Mode of Delivery, Species, Distribution Channel, Application, End User and By Geography


According to Stratistics MRC, the Global Legal Marijuana Market is accounted for $21.0 billion in 2023 and is expected to reach $116.2 billion by 2030 growing at a CAGR of 27.7% during the forecast period. Marijuana is the dry mixture of dried marijuana plant parts that is green, brown, or grey in color. This plant is widely used as a recreational drug to treat various ailments. In many nations, it is legal to grow, possess, and distribute marijuana for both recreational and medical purposes. Although it has long been used medicinally, cannabis is not the first choice for treatment. Cannabis is now used for a number of indications as a result of research into its potential medical uses.

According to a study published in Jama Network Open in 2023, more than half of adults (948 out of 1661) used cannabis to manage their chronic pain.

Market Dynamics:

Driver:

Rising medical acceptance

The market is experiencing a notable rise in medical acceptance due to growing recognition of its therapeutic potential. With ongoing research revealing the medicinal benefits of cannabis compounds, more medical professionals are embracing its use for various conditions like chronic pain, epilepsy, and anxiety. This increasing acceptance is fostering a shift in attitudes, leading to expanded legalization and the development of new medical cannabis products tailored to meet patients' needs.

Restraint:

Strict regulations and legal hurdles

The market faces strict regulations and numerous legal hurdles, posing significant challenges to businesses and consumers alike. These barriers include licensing requirements, taxation complexities, banking limitations due to federal laws, compliance with varying state regulations, and stringent product testing standards. Additionally, the industry contends with issues such as supply chain logistics, marketing restrictions, and ongoing changes in legislation, making it a complex landscape for stakeholders to navigate and thrive within.

Opportunity:

Innovation and product development

Companies are investing in research to create novel strains, infused products like edibles and beverages, and advanced delivery methods such as vaping and topicals. This dynamic landscape encourages collaborations between growers, manufacturers, and tech companies, leading to the creation of safer, more potent, and precisely dosed cannabis products that cater to evolving market demands.

Threat:

Public health concerns

The market raises public health concerns regarding potential misuse, especially among vulnerable populations. Issues include overconsumption leading to impaired driving or cognitive function, addiction risks, and inadequate regulation of product quality and potency. Additionally, there are concerns about second-hand smoke exposure and the long-term health effects of frequent marijuana use. Therefore, these are the factors hampering the growth of the market.

Covid-19 Impact:

The COVID-19 pandemic has had a mixed impact on the legal marijuana market. On one hand, it spurred increased demand as people sought stress relief and alternative medical treatments. This led to record sales in some regions. Conversely, supply chain disruptions, temporary dispensary closures, and economic uncertainty posed challenges. Regulatory changes, such as allowing curbside pickup and delivery, were also implemented. Overall, the market demonstrated resilience but faced operational hurdles due to the pandemic's unpredictability.

The flower buds segment is expected to be the largest during the forecast period

The flower buds segment is expected to be the largest during the forecast period. These buds, also known as nugs, are the most potent part of the plant, containing high concentrations of cannabinoids. Their quality is a key factor in consumer preferences, with characteristics like aroma, flavor, and appearance influencing purchasing decisions. Cultivators focus on optimizing growth conditions to produce dense, resinous buds with diverse profiles to cater to the varied tastes of cannabis enthusiasts.

The pharmaceutical segment is expected to have the highest CAGR during the forecast period

The pharmaceutical segment is expected to have the highest CAGR during the forecast period. Companies are exploring the therapeutic potential of cannabinoids for various medical conditions. From pain management to neurological disorders, pharmaceuticals are exploring various applications, aiming to create innovative treatments that meet regulatory standards and address patients' needs. This intersection of pharmaceuticals and legal marijuana represents a promising frontier in healthcare innovation.

Region with largest share:

North America is projected to hold the largest market share during the forecast period propelled by shifting attitudes and regulatory changes. This growth has led to a diverse range of products, from traditional flower to edibles, concentrates, and topical. Legalization has led to a wide range of cannabis products being available to consumers. The market has attracted substantial investment, creating jobs and generating tax revenue.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The recreational use of marijuana is generally still illegal in most countries in the region. However, there are movements and discussions in some places about potential decriminalization or legalization for recreational purposes. There is a growing interest from investors and businesses in the region to capitalize on the emerging legal marijuana market. This includes not only cultivation and distribution but also research and development of cannabis-based pharmaceuticals.


Key players in the market

Some of the key players in Legal Marijuana market include Green Roads, VIVO Cannabis Inc., Organigram Holding, Inc., Dr. Hemp Me., Gaia Herbs Farm, Royal CBD, Canopy Growth Corporation, Hemp Production Services, CV Sciences, Inc. , Aphria, Inc., Isodiol International Inc, The Cronos Group, Medical Marijuana, Inc. , Aurora Cannabis and GW Pharmaceuticals, plc.

Key Developments:

In January 2024, Village Farms International, Inc., announced the launch of two cannabis brands in the UK, such as Pure Sunfarms and The Original Fraser Valley Weed Co. (Fraser Valley). 4C LABS, a UK-based medical cannabis company, will distribute these brands.

In March 2023, Canopy Growth introduced six new beverage flavors. Under the Deep Space brand, the company announced Canada's first cannabis-infused beverage with naturally occurring caffeine.

Product Types Covered:
• Tinctures
• Flower Buds
• Oils
• Topicals
• Other Product Types

Compounds Covered:
• Cannabidiol (CBD)-Dominant
• Balanced THC & CBD
• Tetrahydrocannabinol (THC)-Dominant

Mode of Deliveries Covered:
• Edibles
• Capsules
• Concentrates

Species Covered:
• Hybrid
• Sativa
• Indica

Distribution Channels Covered:
• Dispensaries
• Online Retail
• Pharmacies
• Other Distribution Channels

Applications Covered:
• Medical
• Adult Use
• Other Applications

End Users Covered:
• Food and Beverages
• Tobacco
• Pharmaceutical
• Personal Care
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Legal Marijuana Market, By Product Type
5.1 Introduction
5.2 Tinctures
5.3 Flower Buds
5.4 Oils
5.5 Topicals
5.6 Other Product Types
6 Global Legal Marijuana Market, By Compound
6.1 Introduction
6.2 Cannabidiol (CBD)-Dominant
6.3 Balanced THC & CBD
6.4 Tetrahydrocannabinol (THC)-Dominant
7 Global Legal Marijuana Market, By Mode of Delivery
7.1 Introduction
7.2 Edibles
7.3 Capsules
7.4 Concentrates
8 Global Legal Marijuana Market, By Species
8.1 Introduction
8.2 Hybrid
8.3 Sativa
8.4 Indica
9 Global Legal Marijuana Market, By Distribution Channel
9.1 Introduction
9.2 Dispensaries
9.3 Online Retail
9.4 Pharmacies
9.5 Other Distribution Channels
10 Global Legal Marijuana Market, By Application
10.1 Introduction
10.2 Medical
10.2.1 Arthritis
10.2.2 Glaucoma
10.2.3 Diabetes
10.3 Adult Use
10.4 Other Applications
11 Global Legal Marijuana Market, By End User
11.1 Introduction
11.2 Food and Beverages
11.3 Tobacco
11.4 Pharmaceutical
11.5 Personal Care
11.6 Other End Users
12 Global Legal Marijuana Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Green Roads
14.2 VIVO Cannabis Inc.
14.3 Organigram Holding, Inc.
14.4 Dr. Hemp Me.
14.5 Gaia Herbs Farm
14.6 Royal CBD
14.7 Canopy Growth Corporation
14.8 Hemp Production Services
14.9 CV Sciences, Inc.
14.10 Aphria, Inc.
14.11 Isodiol International Inc
14.12 The Cronos Group
14.13 Medical Marijuana, Inc.
14.14 Aurora Cannabis
14.15 GW Pharmaceuticals, plc.
List of Tables
Table 1 Global Legal Marijuana Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Legal Marijuana Market Outlook, By Product Type (2021-2030) ($MN)
Table 3 Global Legal Marijuana Market Outlook, By Tinctures (2021-2030) ($MN)
Table 4 Global Legal Marijuana Market Outlook, By Flower Buds (2021-2030) ($MN)
Table 5 Global Legal Marijuana Market Outlook, By Oils (2021-2030) ($MN)
Table 6 Global Legal Marijuana Market Outlook, By Topicals (2021-2030) ($MN)
Table 7 Global Legal Marijuana Market Outlook, By Other Product Types (2021-2030) ($MN)
Table 8 Global Legal Marijuana Market Outlook, By Compound (2021-2030) ($MN)
Table 9 Global Legal Marijuana Market Outlook, By Cannabidiol (CBD)-Dominant (2021-2030) ($MN)
Table 10 Global Legal Marijuana Market Outlook, By Balanced THC & CBD (2021-2030) ($MN)
Table 11 Global Legal Marijuana Market Outlook, By Tetrahydrocannabinol (THC)-Dominant (2021-2030) ($MN)
Table 12 Global Legal Marijuana Market Outlook, By Mode of Delivery (2021-2030) ($MN)
Table 13 Global Legal Marijuana Market Outlook, By Edibles (2021-2030) ($MN)
Table 14 Global Legal Marijuana Market Outlook, By Capsules (2021-2030) ($MN)
Table 15 Global Legal Marijuana Market Outlook, By Concentrates (2021-2030) ($MN)
Table 16 Global Legal Marijuana Market Outlook, By Species (2021-2030) ($MN)
Table 17 Global Legal Marijuana Market Outlook, By Hybrid (2021-2030) ($MN)
Table 18 Global Legal Marijuana Market Outlook, By Sativa (2021-2030) ($MN)
Table 19 Global Legal Marijuana Market Outlook, By Indica (2021-2030) ($MN)
Table 20 Global Legal Marijuana Market Outlook, By Distribution Channel (2021-2030) ($MN)
Table 21 Global Legal Marijuana Market Outlook, By Dispensaries (2021-2030) ($MN)
Table 22 Global Legal Marijuana Market Outlook, By Online Retail (2021-2030) ($MN)
Table 23 Global Legal Marijuana Market Outlook, By Pharmacies (2021-2030) ($MN)
Table 24 Global Legal Marijuana Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
Table 25 Global Legal Marijuana Market Outlook, By Application (2021-2030) ($MN)
Table 26 Global Legal Marijuana Market Outlook, By Medical (2021-2030) ($MN)
Table 27 Global Legal Marijuana Market Outlook, By Arthritis (2021-2030) ($MN)
Table 28 Global Legal Marijuana Market Outlook, By Glaucoma (2021-2030) ($MN)
Table 29 Global Legal Marijuana Market Outlook, By Diabetes (2021-2030) ($MN)
Table 30 Global Legal Marijuana Market Outlook, By Adult Use (2021-2030) ($MN)
Table 31 Global Legal Marijuana Market Outlook, By Other Applications (2021-2030) ($MN)
Table 32 Global Legal Marijuana Market Outlook, By End User (2021-2030) ($MN)
Table 33 Global Legal Marijuana Market Outlook, By Food and Beverages (2021-2030) ($MN)
Table 34 Global Legal Marijuana Market Outlook, By Tobacco (2021-2030) ($MN)
Table 35 Global Legal Marijuana Market Outlook, By Pharmaceutical (2021-2030) ($MN)
Table 36 Global Legal Marijuana Market Outlook, By Personal Care (2021-2030) ($MN)
Table 37 Global Legal Marijuana Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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