The global North America, Europe, and Asia Pacific legal cannabis market, is gearing up for an extraordinary surge in the coming years. According to recent projections, the market is expected to reach a valuation of USD 18.42 Billion by 2022, with even more staggering growth anticipated in the subsequent decade.
By 2032, industry analysts forecast the legal cannabis market to soar to an astonishing USD 175.7 Billion, showcasing an exceptional Compound Annual Growth Rate (CAGR) of 25.3% over the span of ten years. This exponential growth trajectory underscores the immense potential and opportunities within the cannabis sector.
The driving force behind this unprecedented expansion is the global movement toward cannabis legalization, encompassing both medical and recreational applications. Governments and regulatory bodies worldwide are increasingly acknowledging the multifaceted benefits of cannabis and its derivatives, paving the way for a robust and sustainable market landscape.
Request for a Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-15206
Key Highlights:
- Exponential Growth Projection: The legal cannabis industry in the North America, Europe, and Asia Pacific region is anticipated to surge from USD 18.42 Billion in 2022 to an astounding USD 175.7 Billion by 2032, showcasing an impressive CAGR of 25.3%.
- Global Trend of Cannabis Legalization: The driving force behind this remarkable expansion is the progressive shift towards the legalization of cannabis for both medical and recreational purposes across the globe. Countries are increasingly acknowledging the manifold opportunities presented by cannabis, thus propelling the industry to unprecedented heights.
- Market Dynamics: The legal cannabis market is expected to witness significant dynamics, with increased investment, product innovation, and evolving regulatory frameworks contributing to sustained growth over the forecast period.
- Manifold Possibilities: Governments worldwide are embracing the manifold possibilities offered by cannabis and its derivatives. This includes its potential in medical treatments, economic contributions, and job creation, fostering a conducive environment for market growth.
- Investment Opportunities: The surge in the legal cannabis industry presents lucrative opportunities for investors, businesses, and entrepreneurs to capitalize on this burgeoning market. As the industry continues to mature, new avenues for investment and collaboration are expected to emerge.
As the legal cannabis industry gears up for this remarkable journey of growth, stakeholders, investors, and businesses are urged to stay abreast of market trends and capitalize on the evolving landscape. The period from 2022 to 2032 is expected to be transformative for the global legal cannabis industry, unlocking unprecedented opportunities and shaping the future of this dynamic market.
The key takeaways from the North America, Europe & Asia Pacific legal cannabis market report are as follows:
- The legal cannabis market is expected to grow at a rapid pace in the coming years, driven by the increasing legalization of cannabis for medical and recreational use in several countries around the world.
- North America is the largest market for legal cannabis, followed by Europe and Asia Pacific.
- The United States is the largest market in North America, followed by Canada.
- The German market is the largest market in Europe, followed by the United Kingdom market.
- The Australian market is the largest market in Asia Pacific, followed by the Japanese market.
- The key trends driving the market growth include the increasing awareness of the medicinal benefits of cannabis, the growing demand for CBD products, and the legalization of cannabis for recreational use in several countries around the world.
The legal cannabis market is still in its early stages of development, but it has the potential to become a major global industry in the coming years. The increasing legalization of cannabis and the growing awareness of its benefits are driving the market growth.
Get Customization on This Report: https://www.futuremarketinsights.com/customization-available/rep-gb-15206
North America, Europe & Asia Pacific Legal Cannabis Market Key Players:
- Aurora Cannabis
- Canopy Growth Corporation
- Tilray
- VIVO Cannabis Inc.
- GW Pharmaceuticals
- Lexaria Bioscience Corp.
- Bod Australia
- Organigram Holdings Inc.
- The Cronos Group
- AusCann Group Holdings Ltd.
- Cann Group Limited
- THC Global Group Limited
- Althea Group
- Zelira Therapeutics
- MGC Pharma
North America, Europe & Asia Pacific Legal Cannabis Market by Segmentation:
By Source:
- Marijuana
- Flower
- Oil & Tinctures
- Hemp
- Hemp CBD
- Supplements
- Industrial Hemp
By Derivates:
- CBD
- THC
- Others
By End-Use:
- Medical Use
- Cancer
- Chronic Pain
- Depression and Anxiety
- Arthritis
- Diabetes
- Glaucoma
- Migraines
- Epilepsy
- Multiple Sclerosis
- AIDS
- Amyotrophic Lateral Sclerosis
- Alzheimer’s
- Post-Traumatic Stress Disorder (PTSD)
- Parkinson’s
- Tourette’s
- Others
- Recreational Use
- Industrial Use
- Textile
- Non-textile
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Get Full Report Access: https://www.futuremarketinsights.com/checkout/15206
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube