North America Legal Cannabis Market Research and Upcoming Forecast Report
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Report Description and Highlights Report Description North America Legal Cannabis Market Outlook 2026:
According to the latest report by IMARC Group, titled "North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2 2021-2026," the North America legal cannabis market reached a value of US$ 16 Billion in 2020. The cannabis plant belongs to the Cannabaceae family and is cultivated in tropical and temperate areas around the world. Cannabis is known to slow down the activity of the central nervous system and produce hallucinogenic effects. It is commonly derived from the dried leaves and flowers of the plant and can be processed using the simple process of drying and curing them. Also known as weed, hash, marijuana, pot and dope, it is widely used for medical and recreational purposes in the North American region since the regulatory landscape is continually being modified to decriminalize its possession and consumption.
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Report Description and Highlights
Report Description
North America Legal Cannabis Market Trends:
The market is primarily driven by the increasing utilization of medical cannabis in the healthcare sector. Cannabis is considered to be a relatively safer treatment option with less severe side-effects for treating numerous ailments, including multiple sclerosis, chronic pain, cancer, social anxiety, depression and post-traumatic stress disorder (PTSD). It is consequently used in combination with other therapies to combat the side-effects and increase the effectiveness of the treatment. The rising awareness regarding the benefits of medical cannabis is, therefore, catalyzing the market growth. The market is further driven by the gradual legalization of marijuana across the region. It has been legalized in 30 states of the United States for medicinal use and in 9 states for both therapeutic as well as recreational purposes. Numerous other states of the country are taking initiatives to legalize the same. Additionally, medical and recreational marijuana is already legalized across Canada. The market is further driven by the implementation of stringent regulations in the region due to which the suppliers have to comply with proper safety control measures and provide consumers with high-quality products.
Report Description and Highlights
Report Description
Some of the other factors contributing to the market growth include the growing utilization of industrial hemp across multiple sectors and the extensive research and development (R&D) activities conducted to develop safer forms of cannabis. Looking forward, IMARC Group expects the market to grow at a CAGR of 26.2% during 2021-2026.
Report Description and Highlights
Report Description Key Market Segmentation: Breakup by Product Derived: • •
Marijuana Industrial Hemp
Breakup by Distribution Channel: • • • •
Regulated Dispensary Recreational Stores Stand-Alone Retailers Others
Regional Insights: • •
United States Canada
Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc
Report Description and Highlights
Report Description Competitive Landscape: • • • • • • • • •
22nd Century Group, Inc Medical Marijuana Inc Hemp, Inc. Axim Biotechnologies, Inc Arena Pharmaceuticals, Inc. Canopy Growth Corporation Aphria Inc. Aurora Cannabis Inc. Abcann Medicinals Inc.
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Report Description and Highlights
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