The global legal marijuana market to grow at a CAGR of 37.38% during the period 2016-2020.
Marijuana, one of the premium variants of cannabis, is used for recreational (psychoactive drugs) and medicinal purposes. It contains a maximum 30% of cannabinoids (CBD) and tetrahydrocannabinol (THC), which is a major psychoactive element.
The report covers the present scenario and the growth prospects of the global legal marijuana market for 2016-2020. To calculate the market size, the report considers the revenue generated from legal sales of marijuana. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The cannabis market is set to undergo major changes with the ongoing digitization trend in business processes and its impact on corporate business models. Many vendors are using the internet to reach a large number of targeted audience through online and mobile advertisements. In addition, several new start-ups are launching their mobile apps to reach remotely located customers. For instance, Nestdrop is a mobile app which delivers medicinal cannabis to the customers within a specific period depending on the delivery specifications. The introduction of such technologies has increased the vendor's reach, impacting the market positively.
The growth of the marijuana market has significantly increased the revenue for dispensary owners as well as cultivators and governments. In addition, the growing popularity of marijuana for recreational purpose is increasing the market competition and business opportunity for several vendors. Ancillary businesses such as cannabis oil market, hookahs parlor, bubblers, volcano vaporizers and percolated bongs, THC-infused ice cream, and brownies are also profiting from the growing legal marijuana market.
Further, the report states that the population near the commercial markets where marijuana is available will be exposed to use, misuse, and abuse of the substance, adversely affecting the health and life of the users. Legalizing marijuana for recreational use further exposes children and non-smokers to the passive consumption. Protection of laborers working in the marijuana farm is another major challenge the market faces.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- American Cannabis
- Canopy Growth
- GreenGro Technologies
- Mentor Capital
- Terra Tech
- United Cannabis
Other prominent vendors
- Cannabis Sativa
- Cannabis Science
- Chuma Holdings
- Monarch America
- Natural Cannabis
- Novus Acquisition & Development
- Oregon Green Seed
- Origin Cannabis
- Privateer Holdings
For more information about this report visit http://www.researchandmarkets.com/research/zbnwtm/global_legal