NEW YORK: The global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% between 2017 to 2024, while reaching a value of $63.5 billion by 2024, according to a report by Ameri Research.
The market is going through a period of robust growth because of increasing legalization and decriminalization of cannabis products across North America. The report specifies that legalization trends are moving beyond the U.S. region.