Legal Marijuana Market Projected Expansion to USD 61,927.86 Million Value by 2032 with a 15.9% CAGR | Data by PMR
๐๐๐๐จ๐ซ๐๐ข๐ง๐ ๐ญ๐จ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ, ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ฅ๐๐ ๐๐ฅ ๐ฆ๐๐ซ๐ข๐ฃ๐ฎ๐๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฐ๐๐ฌ ๐ฏ๐๐ฅ๐ฎ๐๐ ๐๐ญ ๐๐๐ ๐๐,๐๐๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐ ๐๐ง๐ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ซ๐๐๐๐ก ๐๐๐ ๐๐,๐๐๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐, ๐ญ๐จ ๐ ๐ซ๐จ๐ฐ ๐๐ญ ๐ ๐๐๐๐ ๐จ๐ ๐๐.๐% ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐.Marijuana, which also goes by other names like grass, pot, hub, and weed, is a psychoactive drug from the marijuana sativa or marijuana indica plant. The marijuana indica plant contains more than 100 compounds, including tetrahydro that cause the consumer to feel high. Marijuana can be used in a number of ways. In the past, individuals used to smoke marijuana in joints, blunts, or bongs. Today, it's more common for someone to vape marijuana using electronic devices or other vaporizers.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐:
https://www.polarismarketresearch.com/industry-analysis/legal-marijuana-market/request-for-sample
Also, it can be infused with food or drinks such as alcohol, tea, cookies amongst others. The short-term side effects of consuming marijuana include altered senses, changes in mood, problems with body movement, and increased appetite.
๐๐จ๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
The legal marijuana market is characterized by fragmentation. The top industry participants focus on strategic developments to stay ahead of the curve. Among the key industry participants include:
โข Aphria Inc.
โข Maricann Group Inc.
โข Tikun Olam
โข Lexaria Corp
โข Organigram Holding Inc.
โข GW Pharmaceuticals plc.
โข Canopy Growth Corporation
โข The Cronos Group
โข Tilray
โข and ABcann Medicinals Inc.
๐๐๐ฒ ๐๐ญ๐๐ญ๐ฌ
โข The global legal marijuana market was valued at USD 16,372.95 million in 2023.
โข The industry is expected to grow at a CAGR of 15.9% during the forecast period from 2024 to 2032.
โข By 2032, the industry is expected to reach USD 61,927.86 million.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
https://www.polarismarketresearch.com/buy/473/2
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ง๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
โข The legalization of marijuana for medicinal and recreational purposes is the primary factor propelling the legal marijuana industry forward. Besides, improvement in therapeutic laws and rising utilization of these therapies to treat chronic conditions are other factors supporting the development of the market.
โข The market is witnessing the entry of new industry participants who are focused on research and development, marijuana testing, and production. These developments are set to boost the state of marijuana markets across the globe.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
โข North America (U.S., Canada)
โข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
โข Latin America (Brazil, Mexico, Argentina)
โข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
โข The market is primarily segmented based on products, application, compound, mode of delivery, and region.
โข By product analysis, the buds segment accounted for the largest market share as it contains the highest concentrations of cannabinoids.
โข By compound analysis, the tetrahydrocannabinol (THC)-dominant segment held the highest market share owing to its wide range of therapeutic qualities.
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐ฌ:
https://www.polarismarketresearch.com/industry-analysis/legal-marijuana-market
๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ:
โข ๐๐๐๐ซ๐๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฌ๐: Legal marijuana products for recreational use cater to adult consumers seeking relaxation, stress relief, and social enjoyment. These products include dried flower, pre-rolled joints, vaporizer cartridges, edibles, beverages, and infused products available in various potency levels, flavors, and formulations to suit consumer preferences.
โข ๐๐๐๐ข๐๐๐ฅ ๐๐ฌ๐: Medical marijuana products serve patients with qualifying medical conditions who seek relief from symptoms such as pain, inflammation, nausea, seizures, and anxiety.
โข ๐๐๐ฅ๐ฅ๐ง๐๐ฌ๐ฌ ๐๐ง๐ ๐๐ข๐๐๐ฌ๐ญ๐ฒ๐ฅ๐: marijuana -infused wellness and lifestyle products cater to health-conscious consumers seeking natural alternatives for relaxation, sleep support, and overall well-being.
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ:
๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ๐ข๐ณ๐๐ญ๐ข๐จ๐ง: Opportunities abound for market expansion and globalization as more countries legalize marijuana for medical and recreational use. Emerging markets represent untapped opportunities for industry players to establish footholds, cultivate local partnerships, and capitalize on growing consumer demand for legal marijuana products.
๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ข๐๐๐๐ซ๐๐ง๐ญ๐ข๐๐ญ๐ข๐จ๐ง: Innovation in product development, formulation technologies, and delivery methods enables companies to differentiate their offerings and capture market share. Investing in research and development, brand innovation, and strategic partnerships fosters product innovation and market leadership in emerging marijuana categories.
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
๐๐๐ง๐ญ๐๐ฅ ๐๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/global-dental-implants-market
๐๐๐ฅ๐๐ก๐๐๐ฅ๐ญ๐ก ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/telehealth-market
๐๐๐ฏ๐๐ง๐๐๐ ๐๐จ๐ฎ๐ง๐ ๐๐๐ซ๐ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/global-advanced-wound-care-management-market
๐๐ซ๐๐๐ฌ๐ญ ๐๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/global-breast-implants-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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