Legal Marijuana Market To Reach $74.2 Bn By 2027 | CAGR: 18.7%

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Legal Marijuana Market Growth & Trends

The Global Legal Marijuana market is anticipated to reach USD 74.2 billion by 2027 with a growing CAGR of 18.7% as per the research conducted by UpGraph Research. In the past few years, marijuana has become legal in many countries, though this industry comes from the black market there are many medical benefits which help marijuana to become a legal product. It can be used for anxiety issues, nausea, stress disorders, Parkinson’s disease, and most mental health issues. Also, consumption of marijuana from the legal market reduces risk as it also assurances the purity of the product.

Marijuana consumption also has challenges such as smoking marijuana may harm the lungs and may lead to symptoms like chronic cough and acute bronchitis. Also, consumption of marijuana is harmful during pregnancy as it affects child health which might lead to the under weightage of the child. Though marijuana is less harmful than tobacco and alcohol still it affects human health. Legalizing Marijuana brings public safety issue, appropriate law enforcement and monitoring are necessary in such cases. Public education and awareness programs need to be conducted by the government. Another challenge price of marijuana and it will be beneficial for the government treasury as well.

The marijuana market is divided as per the usage such as for adult and medical usage. Further, it is segmented as per product type like oil, buds, tincture. Based on medical usage, it is further divided into a mental disorder, chronic pain, cancer, and other medical use. The legalized and regulated marijuana market is also helping in creating employment opportunities. It will also increase government revenue by way of taxation and other fees.

North American market is the leading market in legal marijuana products as it is legal in the united states and Canada. The European market is also not far behind the USA, government norms are also supporting the legal marijuana market. Lebanon is the first Arab country to legalize marijuana products. In Asia pacific Thailand and Indonesia have a legal environment for the growing marijuana industry.

Marijuana Type Outlook

  • Adult Use
  • Medical

Product Type Outlook 

  • Oils
  • Buds
  • Tinctures

Medical Application Outlook 

  • Mental Disorders
  • Chronic Pain
  • Cancer
  • Others

Regional Outlook 

  • North America
    • The U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • KSA

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