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North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

  • June 2018
  • 71 pages
  • ID: 5475171
  • Format: PDF

Summary

Table of Contents

Cannabis refers to a psychotropic drug which is made from the dried leaves and flowers of the hemp plant.

Although it grows naturally in the temperate and tropical regions of the world, it can be cultivated in almost any climatic condition. The main active chemical in cannabis is Delta-9 tetrahydro-cannabinol (THC) which produces its hallucinogenic effects. Cannabis is either smoked as a cigarette, mixed in food or brewed as tea for recreational purposes. On the other hand, it is used as a palliative for glaucoma as well as in the treatment of serious neurological diseases, cancer, AIDS, and other chronic ailments in the medical industry. According to the latest report by IMARC Group, titled “North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the North America legal cannabis market reached a value of more than US$ 8 Billion in 2017.

Nowadays, cannabis is gaining prominence in North America due to increasing acceptance of the drug for both recreational and medical uses. In Canada, the use and purchase of cannabis have been legalised for people over the age of 18 years. Whereas in the United States, cannabis has been legalised in a number of states for medicinal purpose. Moreover, the growing research and development in the field of medical usage of cannabis is further projected to create positive growth prospects for the market in the coming years. Looking forward, the North America legal cannabis market value is projected to reach around US$ 35 Billion by 2023, expanding at a CAGR of 27.1% during 2018-2023.

Market Summary:
Based on the products derived from cannabis, the market has been segmented into marijuana, industrial hemp and others. Currently, marijuana dominates the market, accounting for the largest share.

On the basis of application, the report finds that the medical applications hold the largest share. Other major application segments include recreational and industrial.
Based on distribution channel, regulatory dispensaries dominate the North America legal cannabis market. Regulatory dispensaries are followed by recreational stores and stand-alone retailers.

Country-wise, the market has been segregated into the United States and Canada. Currently, the United States represents the leading market, holding the majority of the share.
The report also provides an analysis on the competitive landscape and the key players operating in this market.

This report provides a deep insight into the North America legal cannabis market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America legal cannabis market in any manner.

Key Questions Answered in This Report:
How has the North America legal cannabis market performed so far and how will it perform in the coming years?
What are the major countries in the North America legal cannabis market?
Which are the popular cannabis products in the North America legal cannabis market?
What are the key application segments in the North America legal cannabis market?
What are the major distribution channels in the North America legal cannabis market?
What are the various stages in the value chain of the North America legal cannabis market?
What are the key driving factors and challenges in the North America legal cannabis market?
What is the structure of the North America legal cannabis market and who are the key players?
What is the degree of competition in the North America legal cannabis market?

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