Legal Marijuana Market: Overview

The global legal marijuana market is likely to create immense growth opportunities owing to the increasing demand for medical marijuana across the globe for treating various diseases. It has been observed that it has helped to treat chronic pain, Parkinson’s, Alzheimer’s, nausea induced by chemotherapy, and other neurological disorders. Marijuana is being approved by FDA for the treatment of several ailments and has gained legal status in most countries.

On the basis of product type, the legal marijuana market can be segmented into oil, tinctures, and flower. Based on application the market can be bifurcated into medical and adult use. The application of marijuana in the treatment of arthritis, diabetes, glaucoma, cancer, epilepsy, migraine, AIDS, Alzheimer’s, Parkinson’s, depression, anxiety, and others.

The report curated by TMR includes all important aspects that impact the growth of the legal marijuana market. The various parameters on which the thorough analysis is based are industrial perspective, regional dynamics, competitive analysis, and key drivers. The insights into the market provide a clear direction to the CXOs and stakeholders to make proper decisions regarding investment and expansion plans.

Expanding operations in future? To get the perfect launch ask for a custom report

Legal Marijuana Market: Competitive Analysis

The key players operating in the legal marijuana market are focusing on the cultivation of cannabis and marijuana to extract more revenue share. The promotional activities and marketing strategies to create product awareness and understand the benefits of marijuana in treatment procedures may lead to significant growth of the legal marijuana market. The increasing research and development activities to formulate effective derivatives from marijuana may bring multiple growth opportunities for the growth of the legal marijuana market.

The key players in the legal marijuana market are ABcann Medicinals, Inc., Aurora Cannabis, Maricann Group Inc., Tilray, Organigram Holding, Inc., GW Pharmaceuticals, Tikun Olam, Ltd, and United Cannabis Corporation.

Legal Marijuana Market: Key drivers and Opportunities

The oil and tinctures segment is expected to gain traction owing to the medicinal properties of marijuana. The oils and tinctures are used extensively in most countries across the globe for the treatment of various chronic ailments. These oils are used to treat sleep disorders and relieve stress and anxiety. Additionally, Medical cannabis and its derivatives are used for the treatment of nausea caused because of cancer and vomiting sensation. The popularity of this oil among the major chunk of the global population may augment the growth of the legal marijuana market.

The effective results with minimum side effects can be attained through medical cannabis which has proved to be effective in treating arthritis. The preference for the use of legal marijuana by adults has augmented the growth of the legal marijuana market. Further, the consumer trend of using legal marijuana for recreation may propel the market growth. Also, the preference for marijuana has increased due to its cost-effectiveness and easy availability.

The exponential rise in sales of legal marijuana and applications from medicines to industries is likely to bring significant growth to the legal marijuana market.

Request a sample to get extensive insights into the Legal Marijuana Market

Legal Marijuana Market: Regional Perspective

The global legal marijuana market can be segmented into North America, Latin America, Europe, Asia Pacific, the Middle East and Africa based on the regions. North America is anticipated to show substantial growth owing to the extensive use of marijuana in medical, adult-use, and recreational use. The rising awareness about the use of marijuana for medicinal use is expected to emerge as a prime growth factor for the legal marijuana market in North America. In addition, the initiatives to encourage marijuana cultivation in some counties across the U.S. are estimated to bring promising growth for the global market. The legal marijuana market in Europe is anticipated to observe steady growth during the forecast period of 2021-2031.

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Legal Marijuana Market