Global legal marijuana market size valuation to reach USD 90.5 billion by 2027 – GlobeNewswire

Selbyville, Delaware, Feb. 23, 2021 (GLOBE NEWSWIRE) — According to reliable estimations, global legal marijuana market is expected to grow substantially and reach a valuation of USD 90.5 billion by the year 2027. The growth can be attributed to growing demand for legal marijuana for pharmaceutical as well as recreational applications and rising medical prospects associated with the product.Apart from this, the document delivers vital data regarding the various market segmentations such as type, product type, application scope, compound type, mode of delivery, and regional reach. It also profiles the leading companies operating in this business vertical by providing an in-depth SWOT analysis of the several industry participants.The product is widely adopted for treating various ailments such as Parkinson’s disease, neurological conditions, arthritis, and cancer among others, which in turn is fueling global legal marijuana market size. Legal marijuana can also be used in pain management therapies owing to its high efficiency, easy availability and affordable nature as compared to the counterparts.Request Sample copy of this Report @ from this, supportive regulatory outlook which has legalized the use of cannabis in the recent past coupled with increasing popularity of pain management therapies for treating chronic conditions among elderly population are also favoring the overall market outlook.Elaborating on the application reachBased on application spectrum, the market is divided into recreational, medical, and industrial hemp segments. The medical segment is further split into cancer, mental disorders, chronic pain and others. Among these, estimates cite that global legal marijuana industry share from mental disorders applications is predicted to expand significantly during the study duration.Evolving consumer lifestyle, increasing number of nuclear families and widespread adoption of social media platforms have increased the pervasiveness of mental disorders such as Alzheimer’s diseases, anxiety and depression. This has evidently accelerated the demand for legal marijuana in order to yield desired and positive treatment results, thereby stimulating the overall industry outlook.Highlighting the geographical landscapeAs per the regional analysis, worldwide legal marijuana market is classified into North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa. According to authentic predictions, North America accounted for the largest market share in 2019 and is likely to register consistent growth during the forecast period.Supportive federal outlook in the United States towards legalization of marijuana has resulted in its widespread adoption. Thus, growing demand and proliferating sales of legal marijuana in the U.S. is facilitating the business outlook in North America.To access a sample copy or view this report in detail along with the table of contents, please click the link below: Legal Marijuana by Type (Revenue, USD Billion, 2016 – 2027)Adult useMedicalGlobal Legal Marijuana by Product Landscape (Revenue, USD Billion, 2016 – 2027)TincturesOils & ConcentratesBudsGlobal Legal Marijuana by Application Scope (Revenue, USD Billion, 2016-2027)RecreationalMedicalCancerMental DisordersChronic PainOthersIndustrial HempGlobal Legal Marijuana by Compound Type (Revenue, USD Billion, 2016 – 2027)Balanced THC & CBDCannabidiol (CBD)-DominantTetrahydrocannabinol (THC)-DominantGlobal Legal Marijuana by Mode of Delivery (Revenue, USD Billion, 2016 – 2027)EdiblesConcentratesCapsulesOthersGlobal Legal Marijuana Regional Outlook (Revenue, USD Billion, 2016 – 2027)North AmericaMexicoCanadaU.S.EuropeSwitzerlandGermanyCzech RepublicPolandCroatiaNetherlandsItalyRest of EuropeAsia PacificAustraliaRest of Asia-PacificCentral & South AmericaUruguayArgentinaChileColombiaBrazilRest of Central & South AmericaMiddle East & AfricaIsraelRest of Middle East & AfricaGlobal Legal Marijuana Market Competitive Analysis (Revenue, USD Million, 2016-2027)Lexaria CorporationGW Pharmaceuticals plcOrganigram Holdings Inc.ABcann Medicinals Inc.The Cronos GroupMaricann Group Inc.TilrayAurora Cannabis Inc.Aphria Inc.Canopy Growth CorporationRelated Report:CBD Oil (Cannabidiol Oil) Market Share, Size, Trends, Industry Analysis Report, By Regions; Segment Forecast, 2020 -2027Global Cannabidiol Oil (CBD Oil) Market size is expected to reach USD 24.08 billion by 2027. CBD is commonly used to relieve anxiety and it helps the insomnia patients in falling asleep and staying asleep. Certain CBD manufacturers have been scrutinized by the government who claim that CBD is a cure for cancer. Research about the balance of pros and cons of CBD is ongoing near every production and consumption cluster, and debates about their usage is being carried out in all of the regions wherever there are significant number of potential prospective consumers. Overall CBD has a large addressable market, of which a large part is untouched.About US:Market Study Report, LLC. is a hub for market intelligence products and services.We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities.If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.Contact Us: Corporate Sales,
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