Global Legal Marijuana Market Report and Forecast 2023-2031

Global Legal Marijuana Market Report and Forecast 2023-2031

Global Legal Marijuana Market Outlook

The global legal marijuana market size attained a value of USD 24.9 billion in 2022. The market is likely to grow at a CAGR of 21% during the forecast period of 2023-2031 to attain a value of USD 138.4 billion by 2031.

Legal Marijuana Market: Introduction

Marijuana, often referred to as cannabis, is a psychoactive drug derived from the Cannabis plant. It has been used for both medicinal and recreational purposes for thousands of years, with early records of use dating back to ancient civilizations in China and India. While it was considered illegal in many parts of the world throughout the 20th century due to concerns about addiction and potential negative mental health effects, the perception and legal status of marijuana have dramatically changed in recent years.

Many jurisdictions around the world have begun to decriminalize or legalize the use of marijuana, primarily for medical reasons, but also for recreational use in some cases. As of my last update in 2021, a number of states in the USA, along with countries such as Canada and Uruguay, have fully legalized the use of marijuana.


Medical: Medical marijuana refers to the use of the whole cannabis plant or its basic extracts to treat symptoms of illness and other conditions. It is used to alleviate symptoms such as chronic pain, nausea and vomiting due to chemotherapy, and muscle spasticity from multiple sclerosis. In some cases, it is also used for conditions like epilepsy, Crohn's disease, and PTSD.
Recreational: Recreational use of marijuana refers to its use without a medical justification. People consume marijuana for its psychoactive and physiological effects, which can include heightened mood or euphoria, relaxation, and an increase in appetite.

Medical Benefits: The primary benefits of marijuana are related to its medical use. As mentioned, it has been proven effective for treating a variety of medical conditions. It can offer pain relief where other pain medications are not effective or have harmful side effects.
Economic Benefits: Legalizing marijuana opens up a new sector of the economy. It leads to the creation of jobs in marijuana cultivation, distribution, and sales, and generates significant tax revenue for states and countries where it's legal.
Social and Criminal Justice Benefits: Legalization can lead to a decrease in arrests and convictions for drug offenses, helping to reduce the strain on the criminal justice system. It can also address some racial and social inequalities, as drug laws have historically been enforced disproportionately against marginalized communities.
Regulation and Safety: Legalization allows for regulation, which can make using marijuana safer. Regulators can control the quality and safety of the product, ensure that the product is free from harmful additives, and mandate childproof packaging and warning labels.
Despite these benefits, it is important to note that marijuana use is not without risks and potential negative effects, including dependency, mental health issues, and impaired driving. Public health strategies and education are essential components of any policy aimed at legalizing marijuana.

Legal Marijuana Market Segmentations

The market can be categorised into type, species, product, distribution channel, application, and region.

Market Breakup by Type

Medical Marijuana
Recreational Marijuana
Market Breakup by Species

Market Breakup by Product

Market Breakup by Distribution Channel

Pharmacy Stores
Market Breakup by Application

Chronic Pain
Mental Disorder
Legal Marijuana Market Breakup by Region

North America
United States of America
United Kingdom
Asia Pacific
Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa

Legal Marijuana Market Scenario

The legal marijuana market has seen a dramatic increase over the past several years. As more countries and United States move towards legalizing or decriminalizing marijuana, the market continues to expand and evolve. Initially, the market was driven primarily by medical marijuana, but as more regions permit recreational use, this segment has seen significant growth.

In North America, the United States and Canada are leading the way in the legal marijuana market. In the United States, more and more states are legalizing marijuana for medical and recreational use. Each state has its own set of regulations, leading to a somewhat fragmented market. Canada, on the other hand, legalized marijuana at the national level in 2018, becoming the first G7 nation to do so.

Europe and Latin America are also emerging as significant markets for legal marijuana. Countries like Germany and Italy have established medical marijuana programs, while others like the Netherlands have a long history of lenient laws towards marijuana use. In Latin America, countries like Uruguay and Mexico are setting precedents with their own approaches to legalization.

Despite the growth, the legal marijuana market still faces challenges. Regulatory uncertainties, lack of standardization, and complex supply chain management are some of the primary obstacles. However, the market also offers many opportunities. The development of novel product offerings, increased research and development, and the implementation of cannabis in various industrial applications present exciting growth prospects.

The business landscape is also evolving rapidly, with consolidation through mergers and acquisitions, strategic partnerships, and new entrants coming into the market. Many companies are focusing on research and development to introduce new strains of marijuana with various medical and recreational attributes.

With all of these dynamics in play, the legal marijuana market is poised for continued growth and evolution. It represents a significant opportunity for businesses, governments, and consumers alike. However, it's important for all stakeholders to navigate this emerging market responsibly, taking into account the potential public health and societal implications of marijuana use.

Key Players in the Global Legal Marijuana Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

Canopy Growth Corporation
Tilray Brands Inc.
Aurora Cannabis
Maricann Group Inc
Jazz Pharmaceuticals plc
VIVO Cannabis Inc
Dr. Hemp Me.
Hemp Production Services
Medical Marijuana, Inc.
Gaia Herbs Farm
Lexaria Corp.

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Legal Marijuana Market Overview
3.1 Global Legal Marijuana Market Historical Value (2016-2022)
3.2 Global Legal Marijuana Market Forecast Value (2023-2031)
4 Global Legal Marijuana Market Landscape
4.1 Global Legal Marijuana Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Legal Marijuana Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Species
4.2.3 Analysis by Product
4.2.4 Analysis by Distribution Channel
4.2.5 Analysis by Application
5 Global Legal Marijuana Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Legal Marijuana Market Segmentation
6.1 Global Legal Marijuana Market by Type
6.1.1 Market Overview
6.1.2 Medical Marijuana
6.1.3 Recreational Marijuana
6.2 Global Legal Marijuana Market by Species
6.2.1 Market Overview
6.2.2 Sativa
6.2.3 Indica
6.2.4 Hybrid
6.3 Global Legal Marijuana Market by Product
6.3.1 Market Overview
6.3.2 Buds
6.3.3 Oils
6.3.4 Tinctures
6.3.5 Others
6.4 Global Legal Marijuana Market by Distribution Channel
6.4.1 Market Overview
6.4.2 Pharmacy Stores
6.4.3 Online
6.4.4 Others
6.5 Global Legal Marijuana Market by Application
6.5.1 Market Overview
6.5.2 Chronic Pain
6.5.3 Mental Disorder
6.5.4 Cancer
6.5.5 Others
6.6 Global Legal Marijuana Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Legal Marijuana Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Legal Marijuana Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Legal Marijuana Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.6 Australia
9.7 Others
10 Latin America Legal Marijuana Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Legal Marijuana Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Regulatory Framework
17.1 Regulatory Overview
17.1.1 US FDA
17.1.2 EU EMA
17.1.5 Others
18 Supplier Landscape
18.1 Canopy Growth Corporation
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Tilray Brands Inc.
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Aurora Cannabis
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Maricann Group Inc
18.4.1 Financial Analysis
18.4.2 Financial Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Jazz Pharmaceuticals plc
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 VIVO Cannabis Inc
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Dr. Hemp Me.
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Hemp Production Services
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Medical Marijuana, Inc.
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Gaia Herbs Farm
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
18.11 Lexaria Corp.
18.11.1 Financial Analysis
18.11.2 Product Portfolio
18.11.3 Demographic Reach and Achievements
18.11.4 Mergers and Acquisitions
18.11.5 Certifications
19 Global Legal Marijuana Market - Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket

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