The global legal marijuana market size was valued at USD 21.0 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.7% from 2024 to 2030. Increasing demand for legal marijuana is a major factor in growth of the market. Recently, many countries have legalized the use of medical marijuana for treating various conditions.
Read More »January 18, 2024
The North America legal marijuana market size was valued at USD 13.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2023 to 2030. Across North America, cannabis legitimization has brought about a massive change in the market
Read More »June 28, 2022
The Germany legal cannabis market size was estimated at USD 32.8 million in 2023 and is expected to grow at a CAGR of 14.9% from 2024 to 2030. The market is driven by factors such as increasing adoption of cannabis for treating chronic diseases, positive legal developments, growing research on cannabis use, and increasing adoption & launch of CBD-infused cosmetic products.
Read More »May 27, 2024
The global medical marijuana market size was valued at USD 11.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.06% from 2022 to 2030. The industry is experiencing growth due to the rising awareness regarding various therapeutic applications of the product, such as pain management, appetite enhancement, and reducing eye pressure. Medical marijuana is classified into two types, namely, Cannabis Sativa and Cannabis Indica, which originate from the countries of the western hemisphere and central & south Asian regions, respectively.
Read More »August 1, 2022
The global marijuana drying and curing equipment market size was valued at USD 126.7 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030. There is a growing demand for marijuana drying and curing equipment, owing to increasing number of countries legalizing cannabis for medical and recreational consumption, the growing cannabis cultivation and demand for high-quality cannabis products, the need for efficient and effective drying and curing processes, and the emergence of advanced technologies in the industry.
Read More »September 28, 2023
The global cannabis cultivation market was valued at USD 392.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 21.3% from 2023 to 2030. Growing legalization and the adoption of cannabis for the treatment of chronic diseases are the key factors driving the growth. In addition, the liberalization of laws related to cannabis cultivation, especially for hemp cultivation by various countries due to low THC content is further increasing its adoption.
Read More »February 2, 2023
The Australia medical cannabis market size was estimated at USD 93.54 million in 2023 and is projected to grow at a CAGR of 33.6% from 2024 to 2030. This growth is driven by a rising interest in alternative therapies for managing chronic pain, nausea, and various other health issues, as well as the introduction of new products and formulations.
Read More »June 11, 2024
The Australia legal cannabis market size was estimated at USD 88.1 million in 2023 and is anticipated to grow at a CAGR of 27.8% from 2024 to 2030. The industry growth is propelled by the growing awareness of the health benefits of cannabis and the legalization of marijuana, mostly for medical purposes. Furthermore, the increase in medical marijuana output as a result of increasing demands in the pharmaceutical sector is boosting overall growth.
Read More »May 14, 2024
The North America legal cannabis market size was estimated at USD 36.70 billion in 2023 and is projected to grow at a CAGR of 11.9% from 2024 to 2030. Growing legalization and rising awareness with respect to health benefits provided by consumption of cannabis are some of the major factors driving the growth of the market. For instance, in May 2023, the Government of Minnesota legalized cannabis for recreational use and became the 23rd state in the U.S. to legalize adult-use cannabis.
Read More »August 6, 2024
The North America, Europe, and Asia Pacific legal cannabis market size was valued at USD 18.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 22.3% from 2023 to 2030. On the economic front, recreational-use marijuana legalization will help create new job possibilities and add significantly to the economy.
Read More »June 2, 2022