Legal Marijuana Market Share CAGR Status, Industry Analysis, Trends, and Forecast - 2027
Market Introduction 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. Market Forecast The global market for legal marijuana has been experiencing high demand from the last few years and is proj