Legal Marijuana Market is Estimated to Grow at a CAGR over 22.03% by 2022 Market Research Future published a Cooked Research Report on Global Legal Marijuana Market, which is estimated to grow at a CAGR of 22.03% during the forecast period 2016-2022 Market Overview: Marijuana is dried leaves, stems, flowers or seed of Cannabis sativa or Cannabis indica plant. The consumption of marijuana is limited to certain countries where it is known as legal marijuana. Major share of the legal marijuana consumption was witnessed in North America, which held 69.3% of market share in the year 2016. Legal marijuana is widely used in the medical sector for the treatment of various diseases such as cancer, multiple sclerosis, HIV/AIDS, and others. Scientists are constantly researching on the marijuana species to bring out value added products from the cannabis strains, which is contributing in the growth of legal marijuana market. The legal marijuana is experiencing high demand owing to its recreational activity, which is projected to support the growth of the legal marijuana market over the forecast period. The global market for legal marijuana has been experiencing high demand from the last few years and is projected to reach 2610 tons by 2022. Increasing legalization of marijuana market in various countries is driving the market of legal marijuana market. Owing to its health beneficial attributes such as treatment of cancer, multiple sclerosis, HIV/AIDS, inducing sleep in patients with chronic disorder, and others, the inclination of medical professionals towards legal marijuana has increased. Based on the type, the sativa is expected to witness the highest growth rate of 12.89% on a global level. Indica segment of the legal marijuana holds the second largest share and is expected to grow rapidly during the forecast period. Moreover, owing to its various beneficial attributes, application of legal marijuana market expected to witness high growth in sector apart from medical sector over the forecast period.
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