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Legal Cannabis Market Size, Trends, Analysis, and Outlook By Source (Marijuana, Hemp), By Derivative (CBD, THC, Others), by Region, Country, Segment, and Companies, 2024-2030

March 2024 | 190 pages | ID: LB50E88A84DCEN
VPAResearch

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The global Legal Cannabis market size is poised to register 25.23% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global Legal Cannabis market across By Source (Marijuana, Hemp), By Derivative (CBD, THC, Others).

The Legal Cannabis market is experiencing exponential growth driven by the increasing legalization of cannabis for medical and recreational use, expanding product offerings, and growing consumer acceptance of cannabis-based products for health and wellness applications. Legalization initiatives across various countries and states have led to the emergence of a regulated cannabis industry, offering a wide range of cannabis-derived products such as dried flower, concentrates, edibles, topicals, and tinctures. Factors such as the growing recognition of cannabis as a therapeutic agent for managing chronic pain, anxiety, insomnia, and other medical conditions, and the shift towards destigmatizing and normalizing cannabis use are driving market expansion. Additionally, advancements in cultivation techniques, extraction technologies, and product formulations, along with the development of quality control standards and testing protocols, are fueling innovation in the market. Moreover, the increasing investment from pharmaceutical companies, consumer goods manufacturers, and venture capital firms in the cannabis industry, and the expanding retail distribution channels for cannabis products, including dispensaries, pharmacies, and online platforms, are driving market growth. Furthermore, efforts to address regulatory challenges, ensure product safety and quality, and expand access to medical cannabis for patients with qualifying conditions are expected to further propel market growth in the foreseeable future.

Legal Cannabis Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Legal Cannabis market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Legal Cannabis survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Legal Cannabis industry.

Key market trends defining the global Legal Cannabis demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Legal Cannabis Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Legal Cannabis industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Legal Cannabis companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Legal Cannabis industry

Leading Legal Cannabis companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Legal Cannabis companies.

Legal Cannabis Market Study- Strategic Analysis Review

The Legal Cannabis market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-
  • Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
  • Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
  • Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
  • Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.
Legal Cannabis Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Legal Cannabis industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Legal Cannabis Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Legal Cannabis Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Legal Cannabis market segments. Similarly, Strong end-user demand is encouraging Canadian Legal Cannabis companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Legal Cannabis market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Legal Cannabis Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Legal Cannabis industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Legal Cannabis market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Legal Cannabis Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Legal Cannabis in Asia Pacific. In particular, China, India, and South East Asian Legal Cannabis markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Legal Cannabis Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Legal Cannabis Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Legal Cannabis market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Legal Cannabis.

Legal Cannabis Market Company Profiles

The global Legal Cannabis market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are Aphria Inc, Aurora Cannabis Inc, Canopy Growth Corp, Cara Therapeutics Inc, Cronos Group, GW Pharmaceuticals Plc, Insys Therapeutics Inc, Sundial Growers Inc, The Scotts Company LLC, Tilray, VIVO Cannabis Inc

Recent Legal Cannabis Market Developments

The global Legal Cannabis market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Legal Cannabis Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis
  • Pricing Analysis
  • Value Chain Analysis
  • SWOT Profile
  • Market Dynamics- Trends, Drivers, Challenges
  • Porter’s Five Forces Analysis
  • Macroeconomic Impact Analysis
  • Case Scenarios- Low, Base, High
Market Segmentation:

By Source

Marijuana

-Flowers

-Oil and Tinctures

Hemp

-Hemp CBD

-Supplements

-Industrial Hemp

By Derivative

CBD

THC

Others

Geographical Segmentation:
  • North America (3 markets)
  • Europe (6 markets)
  • Asia Pacific (6 markets)
  • Latin America (3 markets)
  • Middle East Africa (5 markets)
Companies

Aphria Inc

Aurora Cannabis Inc

Canopy Growth Corp

Cara Therapeutics Inc

Cronos Group

GW Pharmaceuticals Plc

Insys Therapeutics Inc

Sundial Growers Inc

The Scotts Company LLC

Tilray

VIVO Cannabis Inc

Formats Available: Excel, PDF, and PPT
1. EXECUTIVE SUMMARY

1.1 Legal Cannabis Market Overview and Key Findings, 2024
1.2 Legal Cannabis Market Size and Growth Outlook, 2021- 2030
1.3 Legal Cannabis Market Growth Opportunities to 2030
1.4 Key Legal Cannabis Market Trends and Challenges
  1.4.1 Legal Cannabis Market Drivers and Trends
  1.4.2 Legal Cannabis Market Challenges
1.5 Competitive Landscape and Key Players
1.6 Competitive Analysis- Growth Strategies Adopted by Leading Legal Cannabis Companies

2. LEGAL CANNABIS MARKET SIZE OUTLOOK TO 2030

2.1 Legal Cannabis Market Size Outlook, USD Million, 2021- 2030
2.2 Legal Cannabis Incremental Market Growth Outlook, %, 2021- 2030
2.3 Segment Snapshot, 2024

3. LEGAL CANNABIS MARKET- STRATEGIC ANALYSIS REVIEW

3.1 Porter's Five Forces Analysis
* Threat of New Entrants
* Threat of Substitutes
* Intensity of Competitive Rivalry
* Bargaining Power of Buyers
* Bargaining Power of Suppliers
3.2 Value Chain Analysis
3.3 SWOT Analysis

4. LEGAL CANNABIS MARKET SEGMENTATION ANALYSIS AND OUTLOOK

4.1 Market Segmentation and Scope
4.2 Market Breakdown by Type, Application, and Other Segments, 2021-2030
By Source
Marijuana
-Flowers
-Oil and Tinctures
Hemp
-Hemp CBD
-Supplements
-Industrial Hemp
By Derivative
CBD
THC
Others
4.3 Growth Prospects and Niche Opportunities, 2023- 2030
4.4 Regional comparison of Market Growth, CAGR, 2023-2030

5. REGION-WISE MARKET OUTLOOK TO 2030

5.1 Key Findings for Asia Pacific Legal Cannabis Market, 2025
5.2 Asia Pacific Legal Cannabis Market Size Outlook by Type, 2021- 2030
5.3 Asia Pacific Legal Cannabis Market Size Outlook by Application, 2021- 2030
5.4 Key Findings for Europe Legal Cannabis Market, 2025
5.5 Europe Legal Cannabis Market Size Outlook by Type, 2021- 2030
5.6 Europe Legal Cannabis Market Size Outlook by Application, 2021- 2030
5.7 Key Findings for North America Legal Cannabis Market, 2025
5.8 North America Legal Cannabis Market Size Outlook by Type, 2021- 2030
5.9 North America Legal Cannabis Market Size Outlook by Application, 2021- 2030
5.10 Key Findings for South America Legal Cannabis Market, 2025
5.11 South America Pacific Legal Cannabis Market Size Outlook by Type, 2021- 2030
5.12 South America Legal Cannabis Market Size Outlook by Application, 2021- 2030
5.13 Key Findings for Middle East and Africa Legal Cannabis Market, 2025
5.14 Middle East Africa Legal Cannabis Market Size Outlook by Type, 2021- 2030
5.15 Middle East Africa Legal Cannabis Market Size Outlook by Application, 2021- 2030

6. COUNTRY-WISE MARKET SIZE OUTLOOK TO 2030

6.1 US Legal Cannabis Market Size Outlook and Revenue Growth Forecasts
6.2 US Legal Cannabis Industry Drivers and Opportunities
6.3 Canada Market Size Outlook and Revenue Growth Forecasts
6.4 Canada Legal Cannabis Industry Drivers and Opportunities
6.6 Mexico Market Size Outlook and Revenue Growth Forecasts
6.6 Mexico Legal Cannabis Industry Drivers and Opportunities
6.7 Germany Market Size Outlook and Revenue Growth Forecasts
6.8 Germany Legal Cannabis Industry Drivers and Opportunities
6.9 France Market Size Outlook and Revenue Growth Forecasts
6.10 France Legal Cannabis Industry Drivers and Opportunities
6.11 UK Market Size Outlook and Revenue Growth Forecasts
6.12 UK Legal Cannabis Industry Drivers and Opportunities
6.13 Spain Market Size Outlook and Revenue Growth Forecasts
6.14 Spain Legal Cannabis Industry Drivers and Opportunities
6.16 Italy Market Size Outlook and Revenue Growth Forecasts
6.16 Italy Legal Cannabis Industry Drivers and Opportunities
6.17 Rest of Europe Market Size Outlook and Revenue Growth Forecasts
6.18 Rest of Europe Legal Cannabis Industry Drivers and Opportunities
6.19 China Market Size Outlook and Revenue Growth Forecasts
6.20 China Legal Cannabis Industry Drivers and Opportunities
6.21 India Market Size Outlook and Revenue Growth Forecasts
6.22 India Legal Cannabis Industry Drivers and Opportunities
6.23 Japan Market Size Outlook and Revenue Growth Forecasts
6.24 Japan Legal Cannabis Industry Drivers and Opportunities
6.26 South Korea Market Size Outlook and Revenue Growth Forecasts
6.26 South Korea Legal Cannabis Industry Drivers and Opportunities
6.27 Australia Market Size Outlook and Revenue Growth Forecasts
6.28 Australia Legal Cannabis Industry Drivers and Opportunities
6.29 South East Asia Market Size Outlook and Revenue Growth Forecasts
6.30 South East Asia Legal Cannabis Industry Drivers and Opportunities
6.31 Rest of Asia Pacific Market Size Outlook and Revenue Growth Forecasts
6.32 Rest of Asia Pacific Legal Cannabis Industry Drivers and Opportunities
6.33 Brazil Market Size Outlook and Revenue Growth Forecasts
6.34 Brazil Legal Cannabis Industry Drivers and Opportunities
6.36 Argentina Market Size Outlook and Revenue Growth Forecasts
6.36 Argentina Legal Cannabis Industry Drivers and Opportunities
6.37 Rest of South America Market Size Outlook and Revenue Growth Forecasts
6.38 Rest of South America Legal Cannabis Industry Drivers and Opportunities
6.39 Middle East Market Size Outlook and Revenue Growth Forecasts
6.40 Middle East Legal Cannabis Industry Drivers and Opportunities
6.41 Africa Market Size Outlook and Revenue Growth Forecasts
6.42 Africa Legal Cannabis Industry Drivers and Opportunities

7. LEGAL CANNABIS MARKET OUTLOOK ACROSS SCENARIOS

7.1 Low Growth Case
7.2 Reference Growth Case
7.3 High Growth Case

8. LEGAL CANNABIS COMPANY PROFILES

8.1 Profiles of Leading Legal Cannabis Companies in the Market
8.2 Business Descriptions, SWOT Analysis, and Growth Strategies
8.3 Financial Performance and Key Metrics
Aphria Inc
Aurora Cannabis Inc
Canopy Growth Corp
Cara Therapeutics Inc
Cronos Group
GW Pharmaceuticals Plc
Insys Therapeutics Inc
Sundial Growers Inc
The Scotts Company LLC
Tilray
VIVO Cannabis Inc

9. APPENDIX

9.1 Scope of the Report
9.2 Research Methodology and Data Sources
9.3 Glossary of Terms
9.4 Market Definitions
9.5 Contact Information


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