The "Legal Marijuana Market by Product Type (Buds, Cannabis Extracts), Species (Sativa, Indica), Strains (THC, CBD), Purchase Channel, Application (Medical, Recreational), End-Use Industries, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global legal marijuana market is expected to reach $75.6 billion by 2025, at a CAGR of 28.3% during the forecast period of 2019 to 2025.
The growth in this market is mainly attributed to the increasing legalization of marijuana, growing medicinal applications of marijuana, and the rising geriatric population who are in the need of treatment for chronic diseases. However, high cost and strict rules and regulations regarding production, distribution, sales, and possession of legal marijuana obstruct the growth of this market to some extent.
The North America region is estimated to dominate the global legal marijuana market in 2019. The large share of this region is mainly attributed to legalization of cannabis in several states in the U.S., and in Canada, changing people's attitude toward marijuana use, large base of potential marijuana consumers in the region, rising acceptance towards marijuana use for both medical and recreational purposes, and increasing investment by marijuana producers in the region.
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