North America Legal Cannabis Market Reaching a Value of Around US$ 35 Billion by 2023

North America Legal Cannabis Market Research Report, Share, Size, Trend and Forecast By 2023

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Report Description and Highlights

Report Description

North America Legal Cannabis Market Report By Products Derived (Marijuana, Industrial Hemp and Others), Distribution Channel (Regulated Dispensary, Recreational Stores, Stand-Alone Retailer and Others), Region The legal cannabis market in North America is currently experiencing a positive growth. This can be attributed to the numerous benefits offered by cannabis, improved product quality along with favourable legalisations.

Market Overview: The new report by IMARC Group, entitled “North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the North America legal cannabis market crossed the value of US$ 8 Billion in 2017. Belonging to the Cannabaceae family, the cannabis plant is cultivated in tropical and temperate areas across the globe. Delta-9 tetrahydrocannabinol, also known as THC, is the main psychoactive constituent of cannabis which slows down the activity of the central nervous system and can produce hallucinogenic effects. In North America, the regulatory landscape is being modified so as to decriminalise the usage and possession of cannabis, which is helping in promoting the commercial cannabis business in the region. Moreover, the expanding research and development in the medical applications of cannabis is expected to create positive opportunities for the growth of the market.

Report Description and Highlights

Report Description

North America Legal Cannabis Market Trends: Currently, cannabis is found in different forms ranging from cannabis concentrates to dried and cured marijuana flowers. It is used for the treatment of a number of ailments including multiple sclerosis, chronic pain, social anxiety, depression, post-traumatic stress disorder, cancer, etc. In addition, the demand for cannabis is being propelled by favourable legalisations in numerous states of the United States. Moreover, there has been a shift in the preferences of the consumers towards cannabis extracts which contain higher concentrations of active cannabinoids. With the implementation of stringent regulations, the suppliers have to comply with proper safety control measures and provide the consumers with high quality products which further acts in favour of the growth of the market. On account of these factors, the market is expected to witness a robust growth, reaching a value of around US$ 35 Billion by 2023 with a CAGR of 28% during 2018-2023.

North America Legal Cannabis Market Segmentation: Market Segmentation by Products Derived o Marijuana Request for a sample report: https://www.imarcgroup.com/north-america-legal-cannabis-market/requestsample

Market Forecast

Sample Figure: North America: Legal Cannabis Market Forecast: Sales Value (in Billion US$), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description o Industrial Hemp o Others

The legal cannabis market in the North American region is segmented according to different types of cannabis-derived products including marijuana and industrial hemp. Currently, marijuana represents the largest segment. These products are further categorised on the basis of their applications.

Market Segmentation by Distribution Channel • • • •

Regulated Dispensary Recreational Stores Stand-Alone Retailer Others

Based on distribution channel, the market is segregated into regulated dispensary, recreational stores and stand-alone retailer. Amongst these, regulated dispensary is the most popular segment, accounting for around two-fifths of the total market.

Market Segmentation by Region For more information, click here: https://www.imarcgroup.com/north-america-legal-cannabis-market

Market Segmentation

Report Description • •

United States Canada

On a regional basis, the United States dominates the market, holding the majority of the market share.

This growth can be accredited to the growing acceptance of both the recreational and medicinal use of cannabis across the region. The United States is followed by Canada.

Competitive Landscape: The competitive landscape of the market has also been examined with the profiles of the key players operative in it.

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Report Description and Highlights

Report Description

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