The legal marijuana market share has been steadily growing over the past few years, as more and more countries and states around the world are recognizing the potential benefits of cannabis legalization. This shift in public opinion and policy has created a lucrative industry that is attracting both established players and new entrants.

One of the key factors driving the growth of the legal marijuana market share is the increasing acceptance of cannabis for medicinal purposes. Medical marijuana has gained significant traction as a viable treatment option for various conditions such as chronic pain, epilepsy, multiple sclerosis, and even cancer-related symptoms. As a result, many patients are turning to legal dispensaries to access high-quality cannabis products that meet their specific medical needs.

Moreover, the legalization of recreational marijuana in certain regions has opened up an entirely new consumer base. Cannabis enthusiasts who previously relied on illicit sources now have access to regulated dispensaries where they can purchase a wide range of products including flower, edibles, concentrates, and topicals. This expansion in consumer demand has fueled competition among businesses v As a result, cannabis businesses are constantly innovating and developing new products to cater to the diverse needs and preferences of both medical patients and recreational users.

The Legal Marijuana Market size was valued at USD 16.90 billion in 2022 and is supposed to grow at a CAGR of 25.2% from 2023 to 2030. the legal marijuana market is estimated to reach 102.04 billion by 2030.

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KEY MARKET SEGMENTATION:

By Type

  • Medical
  • Recreational

By Product

  • Buds
  • Oils
  • Tinctures

By Application

  • Chronic Pain    
  • Neurological Disorders 
  • Cancer
  • Others

Some of the major key players are as follows: Canopy Growth Corporation, GBSciences Inc, CanniMed Ltd, Cannabis Sativa Inc, GW Pharmaceuticals Plc, Aphria, Pfizer Inc., Emerald Health Therapeutics Inc, Medical Marijuana Inc, MediPharm Labs, and others.

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