Zion Market Research, The Market Research Group Announced The Analysis Report Titled "Legal Marijuana Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026 "
Sarasota, FL -- (SBWIRE) -- 10/12/2018 -- Global Legal Marijuana Market: Overview
Cannabis is basically a flowering plant. This plant has several varieties; hemp and marijuana are two of these varieties. Owing to the fact that cannabinoids (THC) is very psychoactive in nature and causes intoxication, cannabis or marijuana is not legalized in most countries. Marijuana is a greenish-gray mixture of the cannabis sativa's dried flowers. The expansion of the global legal marijuana market can be attributed to the rising adoption of marijuana for various medicinal applications, such as cancer, chronic pain, mental disorders, etc. Certain countries are also decriminalizing marijuana for recreational purposes as well.
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Global Legal Marijuana Market: Growth Factors
The major growth driver in the global legal marijuana market is the legalization of cannabis for medical and recreational purposes in several countries. Huge private and public investments are made for research and development of safe marijuana ingesting types such as vapes, oils, and tinctures, among other edibles. This is expected to drive the market for legal marijuana in the upcoming years. In addition, the adoption of marijuana for various medical applications, such as chronic pain, mental disorders, cancer, etc., is also growing. This will also fuel the development of global legal marijuana in the future. Several countries, like Uruguay, the U.S., are legalizing the use of marijuana for recreational and medical purposes. Furthermore, there is a growing acceptance of marijuana socially. These factors are also contributing to the expansion of the market for legal marijuana.
Global Legal Marijuana Market: Segmentation
The global legal marijuana market can be divided based on product type, market type, and medical application. On the basis of product type, the legal marijuana market can be segmented into oil, tinctures, and buds. Based on the market type, the legal marijuana market can be classified into recreational and medicinal. On the basis of medical application, the legal marijuana market can be categorized into mental disorders, cancer, and chronic pain, among others.
Global Legal Marijuana Market: Regional Analysis
Based on regions, the global market for legal marijuana can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American region is anticipated to dominate the market for legal marijuana in the upcoming years. This is due to the legalization of cannabis for medical purposes in 29 states in the U.S. Some of the states in the country have also decriminalized marijuana for recreational purposes, which, in turn, would contribute to the shift of legal marijuana from medical to recreational uses. In the Middle East and African region, Isreal is focussing its resources on the development of research and technology related to marijuana. In the Asia Pacific region, Australia has allowed commercial exports of cannabis along with permitting cultivation of cannabis, both for medical and scientific uses under its national licensing scheme.
Global Legal Marijuana Market: Competitive Players
The key market players of the global market for legal marijuana include Tikun Olam, ABcann Medicinals, OrganiGram Holdings, The Cronos Group, Tilray, Maricann Group, Aurora Cannabis, Aphria, Terra Tech, NuLeaf Naturals, mCig, Pharmahemp, United Cannabis, Meadow Care, IRIE CBD, Folium Biosciences, Elixinol, CV Sciences, Bhang Corporation, CBD American Shaman, Mentor Capital, Medical Marijuana, and Canopy Growth Corporation, among several others.
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Global Legal Marijuana Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa