Lucintel Forecasts the Global Legal Marijuana Market to Reach $124 Billion by 2030
Lucintel Forecasts the Global Legal Marijuana Market to Reach $124 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global legal marijuana market looks promising with opportunities in the medical and adult use markets. The global legal marijuana market is expected to reach an estimated $124 billion by 2030 from $45 billion in 2024 at a CAGR of 18.4% from 2024 to 2030. The major drivers for this market are increasing awareness of the therapeutic benefits of this product, such as reducing eye pressure and managing pain, and the rising demand for cannabis-containing vapes, pre-rolls, and gummies.
A more than 150-page report to understand trends, opportunity and forecast in global legal marijuana market to 2030 by product type (flower and oil & tinctures), application (medical and adult use), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that, within the product type category, oil & tincture will remain a larger segment over the forecast period due to the rapid introduction of cannabis-based products for medical use.
Within the application category, medical will remain a larger segment due to recent approval and reduced legal penalties for the medical use of marijuana.
In terms of regions, North America will remain the largest region over the forecast period due to the quick and notable rise in the rate at which governments are decriminalizing cannabis for both adult and medical use.
Canopy Growth Corporation, AURORA CANNABIS, Tilray Brands, ABcann Medicinals, The Cronos, MARICANN, Organigram Holdings are the major suppliers in the legal marijuana market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056