North America Legal Cannabis Market Size
Market Overview
Cannabis is a synthetic drug produced from the dried leaves and flowers of the hemp plant, which thrives in tropical and temperate climates across the world. Cannabis, also known as hash, weed, marijuana, pot, dope, smoke, and cone, can be obtained in a variety of ways, ranging from the basic process of drying and curing marijuana flowers to the complex chemistry involved in manufacturing cannabis concentrates. Cannabis is gaining popularity for both medical and recreational reasons in North America as the legal landscape shifts toward decriminalization and complete legalization. Marijuana has been legalized in 30 states for medicinal reasons and 9 states for both therapeutic and recreational use in the United States. The use of the substance for therapeutic purposes has been lawful in Canada since 2001; nevertheless, recreational use was made possible by a bill enacted in June 2018. This shift in the regulatory environment has resulted in more people using medicinal cannabis to address conditions including chronic pain, depression, PTSD, social anxiety, cancer, multiple sclerosis, and epilepsy, all of which are linked to changing lifestyles.
North America Legal Cannabis Market: Key Players
-
Canopy Growth Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Aphria, Inc.
- Aurora Cannabis
- Tilray
- Organigram Holdings, Inc.
- Lexaria Bioscience Corp.
- ABcann Medicinals, Inc. (Part of Vivo Cannabis)
- The Cronos Group
- Wayland Group Corp. (Maricann Group Inc.)
- CannTrust Holdings
Growth Factor
Increasing legalization of cannabis and rise in social acceptance of marijuana
Cannabis legalization is frequently regarded in a dual perspective, with skepticism linked with the possibility of misuse. People may now use cannabis in a safe manner while also benefiting from its medical properties, thanks to its legalization. As a result, numerous nations throughout the world are increasingly legalizing the use of cannabis. While most nations throughout the world have yet to legalize cannabis for recreational use, attitudes toward its use and sale have been more relaxed over time. As a result, cannabis has become increasingly popular in numerous places, propelling the whole cannabis industry forward.
Increase in Cannabis- based Consumables.
Cannabis consumer goods firms and merchants are swiftly adapting to satisfy the demands of the “mainstream” cannabis customer. Customers may now choose from a growing number of goods, including concentrates, infused items, and topicals, in addition to smoking flower via joints, pipes, or bongs. Products on the market are progressively addressing the features that modern consumers desire, such as more discretion, convenience of use, product safety, and precise dosage. Companies have responded to these needs with increasingly complex packaging and advertising in order to attract more mainstream customers.
Segmentation
- By Product Type
- Flowers
- Concentrates
- Other product types (capsules, topicals, edibles, and beverages)
- By Application
- Medical
- Recreational
- By Compound
- Tetrahydrocannabinol (THC)-dominant
- Cannabidiol (CBD)-dominant
- Balanced THC & CBD
- North America Legal Cannabis Market Dynamics
- North America Legal Cannabis Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Recent News Related to Market
- In December 2020, Aphria Inc. and Tilray Inc. (Canada) signed a comprehensive deal to merge their operations and form the world's largest cannabis corporation. The combined company would have a comprehensive portfolio of branded Cannabis 2.0 products in Canada, supported by low-cost growing, processing, and manufacturing facilities.
- In November 2020, Aphria Inc. completed the acquisition of SW Brewing Company, LLC (US), one of the leading independent craft brewers. SweetWater is a cannabis lifestyle brand that would help Aphria broaden its product offering.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
COVID-19 pre and post business impact analysis
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- What is the North America Legal Cannabis Market growth?
- Which segment accounted for the largest North America Legal Cannabis Market share?
- Who are the key players in the North America Legal Cannabis Market?
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
.png){kind=icon}
