Global Legal marijuana Market is valued at USD 9.3 billion in 2016 is anticipated to grow USD 134.9 billion with the compounded annual growth of 34.6% over the forecast period 2017-2025.
New York 5 July 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Legal marijuana industry is poised to raise USD 134.9 billion by 2025. Some key components for the market development will be; owing to legalization in several countries and high demand for both medical and recreational purposes.
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Global Legal marijuana Market Size study, By Type (Medical, Recreational), By Product Type (Buds, oil, tinctures), By Medical Application (Chronic Pain, Mental Disorders, Cancer) and by Regional Forecasts 2017-2025
The industry seems to be fairly competitive. Some of the leading market players include Canopy Growth Corporation, Aphria Inc., Aurora cannabis, Maricann group Inc., Tilray, and so on. Other market players discussed in the report include Cronos group, ABcann medicinal Inc., Tikum olam. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The Asia Pacific region accounted for the largest market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
- The market is expected to witness a surge in demand.
Bizwit Research & Consulting LLP has considered the following segments for the study:
By Medical application:
- Chronic pain
- Mental disorder
- North America
- Asia Pacific
- Latin America
- Rest of the World