Global Legal Cannabis Market: Size, Trends and Forecast (2018-2022)
- Report Description Table of Contents
Scope of the Report
The report entitled “Global Legal Cannabis Market: Size, Trends and Forecast (2018-2022)” provides an in-depth analysis of the legal cannabis market including detailed description of market sizing and growth. The report provides an analysis of the global legal cannabis market by value and by region. The report also includes regional analysis of the US, Canada and the international legal cannabis market. The report also provides detailed regional analysis of legal cannabis market by value, by segments and includes in-depth segment analysis as well. Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global legal cannabis market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the legal cannabis market are mCig, Inc., Canopy Growth Corporation, GW Pharmaceuticals and Arena Pharmaceuticals. The four companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
- mCig, Inc.
Canopy Growth Corporation
- GW Pharmaceuticals
- Arena Pharmaceuticals
Cannabis is a genus of flowering plants which includes three varieties or species: Cannabis sativa, Cannabis indica and Cannabis ruderalis. Cannabis is used for a variety of purposes such as for fiber, for seed and seed oils and for recreational and medical purposes. Cannabis can be consumed by using various methods such as smoking, vaporization or consumed in the form of edibles, cannabis oils and tinctures or as raw cannabis. The cannabis plant contains various active chemicals known as cannabinoids which are found with other active chemicals such as terpenoids and flavonoids. Cannabis is consumed by recreational users for a lot of purposes including pain relief, better sleep, relaxing or for the treatment of anxiety, Alzheimer’s disease, multiple sclerosis, glaucoma and depression.
The global legal cannabis market has been segmented on the basis of type, chemical derivatives, end-use, product type and medical applications. On the basis of type, the market is segmented into medical and recreational. Chemical derivatives of cannabis includes tetrahydrocannabinol (THC), cannabidiol (CBD) and hybrid. Various end-users of the legal cannabis market are pharmaceutical industry, research and development centers and others. On the basis of product type, the legal cannabis market is segmented into buds, oil and tinctures. Cannabis also has some medical applications and is used in the treatment of various diseases such as chronic pain, arthritis, migraine, cancers and other diseases.
The global legal cannabis market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2018-2022). The market is expected to be driven by various growth enhancing factors such as rising investments in the cannabis industry, growth of vaporizer market, growing number of medical cannabis patients, rapid cannabis legalization, rising cannabis consumption etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are lack of banking and financial services, complex distribution and marketing process and high taxes.