Dec 02, 2019 (The Expresswire) -- Key companies Covered in the research report are: Aurora Cannabis, Aphria, Inc, Canopy Growth Corporation, MedReleaf Corp, Cronos Group, Inc, GW Pharmaceuticals, CannTrust Holdings, Inc, VIVO Cannabis, Inc, Tilray, OrganiGram Holdings
Legal Marijuana Market Overview:
The global Legal Marijuana Market is projected to reach USD 97.35 Billion by the end of 2026. This information is published in a report by Fortune Business Insights, titled, “Cannabis: Global Market Analysis, Insights and Forecast, 2015-2026.” According to the report, the market will exhibit a CAGR of 32.92% in the forecast period (2019-2026).
However, the market was valued at USD 10.60 Billion in 2018. Cannabis legalization is gaining impetus across the world. Legitimate medicinal benefits and therapeutic applications are causing several companies to cultivate and manufacture new cannabis-based products.
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List of the major companies operating in the global Legal Marijuana Market. They are as follows:
Canopy Growth Corporation
Cronos Group, Inc.
GW Pharmaceuticals, plc.
CannTrust Holdings, Inc.
VIVO Cannabis, Inc.
Other key players
The report provides effective guidelines and strategies for organizations to strengthen their positions in the Legal Marijuana Market. Our team of professional analysists have utilized primary and secondary research tools and techniques to accumulate information for this report. Hence, the information offered is highly accurate and trustworthy.
It further highlights significant aspects of the market, namely, growth drivers, competitive landscape, restraints, key market players, regional analysis, and similar other factors.
Sophisticated Packaging and Innovation to Propel Cannabis-based Edibles Sub-segment
In terms of application, the cannabis market is grouped into medical, recreational, and industrial hemp. Under recreational application, the market contains topical and edible. The cannabis-infused edibles consist of cannabinoids and similar other active compounds from the plant. Hence, these are either developed with other infused products, such as cannabis-infused butter or with concentrates. Availability of cannabis-based beverages, candies, and chocolates is one of the notable cannabis market trends. Additionally, product packaging related modification and innovation are projected to play a vital role in propelling the sales of edibles.
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North America to Lead Due to Rapid Legalization of Cannabis for Medical Purposes
Geographically, the cannabis market is divided on the bases of Europe, Latin America, the Middle East and Africa, North America, and Asia Pacific. Out of these regions, in North America, the U.S. medical laws consider cannabis as a form of medicine or therapy for numerous medical conditions, such as epilepsy, Alzheimer’s disease, post-traumatic stress disorder, anorexia, chronic pain, cancer, and arthritis.