Legal Marijuana Market Worth $146.4 Billion By 2025

CALIFORNIA: The global legal marijuana market is expected to reach USD 146.4 billion by end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future.

Legal marijuana has started gaining traction worldwide due to very high demand among consumers and increasing legalization of recreational or medical marijuana in various countries. Additionally, high public and private investment for research and the development of safer forms of ingesting marijuana such as tinctures, oils, vapes and other edibles are expected to positively reinforce market growth. The number of conditions treated using medical marijuana is growing rapidly, as new patients are added to the market, the demand for medical marijuana is expected to increase multiple folds over the forecast period. Countries like Canada and the U.S. are moving towards legalization of marijuana for recreational purposes, this in turn is expected to create a shift form medical to recreational marijuana. Lengthy purchase and approval process for medical marijuana prescription and ease of availability of recreational marijuana is expected to trigger this this change.

Increasing number of companies operating in the marijuana market is expected to bolster the quantity and variety of products reaching the end users. Products like marijuana oil have started gaining traction over the past few years owing to increased effectiveness and safety as compared to smoking it. Also, the growing research in cannabis industry has led to introduction of new marijuana strains. These advances in new product development is expected to enhance product adoption among consumers. Legal marijuana market is witnessing strong technological and information exchange. Countries like Canada, the U.S., Germany and Australia are expected to emerge as leading markets in terms of sale, whereas, countries like Israel are focusing on research and technology development and are leveraging on knowledge transfer.

Key Findings From the Report:

    • The U.S. legal marijuana market size was estimated at USD 7.06 billion in 2016 and is expected to grow at a CAGR of 24.9% from 2017 to 2025
    • Medical marijuana emerged as the largest marijuana type segment in 2016 and is estimated to be valued at USD 100.03 billion by 2025
    • By product type, marijuana buds segment was estimated to be dominant in 2016 with revenue share of 62.9% and is estimated to be valued at USD 82.9 billion by end of 2025
    • Some players operating in legal marijuana market are Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, The Cronos Group, Organigram Holdings, Inc, ABcann Medicinals, Inc., and Tikun Olam

Browse full research report with TOC on “Legal Marijuana Market Size, Share & Trends Analysis Report By Type (Medical, Recreational), By Product Type, By Medical Application (Chronic Pain, Mental Disorders, Cancer), And Segment Forecasts, 2018 – 2025” at: https://www.grandviewresearch.com/industry-analysis/legal-marijuana-market

Pot Stocks Gearing Up For Strong 2018 As Cannabis CBD Frenzy Intensifies

FLORIDA:  The hemp, cannabis and marijuana industry is booming while more and more retail investors are really taking notice. According to Cowen & Co., legal marijuana sales in the U.S. have the opportunity to reach $50 billion annually by 2026, with cannabis research firm ArcView projecting compound annual growth of 26% in North America through 2021.

The cannabidiol (CBD) market alone is estimated to grow by 700% by 2020, according to Forbes. A new report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year’s CBD market of $202 million. Plenty of market professionals firmly believe not many other industries and sectors are growing as quickly as legal marijuana heading into the new year. 

WA State takes first stab at estimating pot revenue haul

WASHINGTON:  The first estimate of tax revenue from Washington’s pot sales had to be made. And the Washington Economic and Revenue Forecast Council unveiled its first guess Wednesday.

The council estimates that the state’s revenues will be $51.2 million for 2015-2017 and $138.5 million for 2017-2019. That’s just under $190 million for those four years.

The state council’s executive director, Steve Lerch, said the council’s staff anticipates a ramping up of marijuana sales that will somewhat level out after 2017-2019. However, he anticipated a slight rise in those years due to normal growth in Washington’s population. [Read more…]