/Global Cannabis Market seems hopeful

Global Cannabis Market seems hopeful

The Worldwide Market for Legal Cannabis 2023-2027. The market for cannabis sold legally is anticipated to expand by USD 54,572,33 million during the period 2022-2027, expanding at a compound annual growth rate (CAGR) of 21.6% during the forecast period.

New York, on the 18th of July, 2023 (Significant Globe Newswire) — Reportlinker.com is pleased to announce the release of their latest report, titled “Global Legal Cannabis Market 2023-2027” (https://www.reportlinker.com/p05228024/?utm_source=GNW).

The report on the legal cannabis market offers an all-encompassing analysis, market size and forecast, trends, growth drivers and challenges, as well as a vendor analysis covering approximately 25 different vendors.

The report provides an up-to-date analysis of the current market scenario, the most recent trends and drivers, and the general environment of the market. The increasing number of nations that have legalized or decriminalized cannabis, the increasing purchasing power of millennials in the key cannabis industry, and the health benefits of medical cannabis are all factors that are driving the market.

The following categories make up the various subsets of the legal cannabis market:

Using the Product

  • Cannabis for medical use
  • Cannabis use for recreational purposes

According to the Derivative Type

  • CBD
  • THC and an appropriate amount of THC
  • CBD

In terms of the Physical Geography

  • The Northern Hemisphere

The European Union

  • APAC
  • The Americas of South
  • Countries in the Middle East and Africa

According to the findings of this study, one of the primary factors that will be driving the expansion of the legal cannabis market over the course of the next few years will be the implementation of innovative cultivation practices. A sizeable amount of demand will be created in the market as a result of the proliferation of edible products infused with cannabis as well as the growing social acceptance of cannabis.

The following topics are discussed in depth in the report on the legal cannabis market:

  • The size of the legal cannabis market
  • A forecast of the legal cannabis market
  • An examination of the legal cannabis market industry

This report provides a detailed analysis of several leading legal cannabis market vendors, including Aurora Cannabis Inc., Bhang Corp., Cannabinoid Creations, Cannoid LLC, Canopy Growth Corp., CBD American Shaman LLC, Cronos Group Inc., CV Sciences Inc., Elixinol Wellness Ltd., Folium Biosciences, Jazz Pharmaceuticals Plc, Medical Marijuana Inc., and MediPharm Labs. The robust vendor analysis is designed to help clients improve their market position The report on the analysis of the market for legal cannabis also includes information on forthcoming trends and challenges that will have an impact on the expansion of the market. This is done to assist businesses in strategizing and making the most of all upcoming opportunities for growth.

An objective combination of primary and secondary information, as well as contributions from key participants in the industry, were utilized in the gathering and analysis of the data for this study. In addition to an analysis of the most important vendors, this report provides a comprehensive landscape of the relevant markets and vendors.

The publisher provides a comprehensive picture of the market by conducting research, synthesizing data from multiple sources, and summarizing the findings. Additionally, the publisher conducts an analysis of key parameters including profit, pricing, competition, and promotions. It does this by identifying the key industry influencers and presenting various aspects of the market. The information that has been compiled is exhaustive, can be relied upon, and is the product of extensive research, both primary and secondary. Using both qualitative and quantitative research, the market research reports provide a comprehensive competitive landscape along with an in-depth vendor selection methodology and analysis. All of this information is used to make an accurate growth forecast for the market.

Original Article posted at https://finance.yahoo.com/news/global-legal-cannabis-market-forecasted-223300492.html