Arizona Legal Cannabis Market To Reach $3.32 Billion By 2030

Arizona Legal Cannabis Market Growth & Trends

The Arizona legal cannabis market size is projected to reach USD 3.32 billion by 2030, registering a CAGR of 14.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. It is driven by increasing government support for legalization and growing awareness of its benefits. Additionally, a study published by The Good Body in 2022 has shown that around 40% of the U.S. population experiences chronic pain lasting 3 to 6 months, even after medication. Moreover, according to a study published by the NCBI, two-thirds of patients with chronic pain conditions such as arthritis, neuropathic pain, and post-surgical pain have reported pain relief with medical marijuana. These factors are expected to drive the demand for pain management therapies and contribute to market growth over the forecast period.

In 1996, the Drug Medicalization, Prevention, and Control Act was passed in Arizona after receiving 65% votes. The act allowed healthcare professionals to prescribe cannabis for patients suffering from terminal illnesses. Furthermore, in 2020, Proposition 207 was approved by voters in Arizona which legalized the possession, use, and cultivation of cannabis for recreational use among adults over the age of 21. The Arizona Department of Health Services is responsible for regulating and overseeing the state's medical marijuana program and is responsible for issuing medical marijuana cards to patients for the legal purchase of cannabis products.

Key players in the market, such as Nature’s Medicines, 4Front, Item 9 Labs, Harvest Health and Recreation, PathogenDx, Cannabox, Copperstate Farms, and Sunday Goods are adopting strategies such as acquisitions, partnerships, expansions, collaborations, and new product launches to strengthen their market position and expand their customer base. For instance, in May 2022, Nature’s Medicines announced the establishment of a new dispensary in Massachusetts. The new establishment is equipped with advanced facilities such as open conference spaces for enhanced shopping and educational experiences. Moreover, in May 2022, Nature’s Medicines partnered with Cheech Marin & Tommy Chong for the launch of two cannabis product lines, Tommy Chong's and Cheech & Chong's. These products contain prepacked flowers and are available for purchase in New Mexico and Arizona.

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Arizona Legal Cannabis Market Segmentation

Grand View Research has segmented the Arizona legal cannabis market report based on source, product type, cultivation and end-use:

Arizona Legal Cannabis  Source Outlook (Revenue, USD Million, 2018 - 2030)

• Hemp

  • Hemp CBD

  • Industrial Hemp

• Marijuana

  • Flower

  • Oil and Tinctures

Arizona Legal Cannabis  Derivatives Outlook (Revenue, USD Million, 2018 - 2030)

• CBD

• THC

• Others

Arizona Legal Cannabis  Cultivation Outlook (Revenue, USD Million, 2018 - 2030)

• Indoor Cultivation

• Greenhouse Cultivation

• Outdoor Cultivation

Arizona Legal Cannabis  End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial Use

• Medical Use

  • Chronic Pain

  • Depression and Anxiety

  • Arthritis

  • Post-traumatic Stress Disorder (PTSD)

  • Cancer

  • Migraines

  • Epilepsy

  • Alzheimer’s

  • Multiple Sclerosis

  • AIDS

  • Amyotrophic Lateral Sclerosis

  • Tourette’s

  • Diabetes

  • Parkinson's

  • Glaucoma

  • Others

• Recreational Use