North America Legal Cannabis Market 2023: Share, Key Players, Industry Overview, Regional Analysis and Forecast to 2028

 IMARC Group, a leading market research company, has recently releases report titled “North America Legal Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the North America legal cannabis market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the North America legal cannabis market?

Report AttributesDetails
Market Size in 2022US$ 27.5 Billion
Market Forecast in 2028US$ 130.3 Billion
Growth rate (2023 to 2028)CAGR of 30.1%
Base Year of the Analysis2022
Forecast Period2023-2028

What is Legal Cannabis?

Cannabis, or marijuana, refers to a group of plants with psychoactive properties. It is derived from the leaves or seeds of Cannabis Sativa, Indica, and Ruderalis, which are grown in tropical areas. It is often used in drug form that is obtained by infusing, preparing, storing, drying, and curing marijuana leaves and flowers. It exhibits therapeutic properties that reduce stress and treat chronic pain, glaucoma, and life-threatening disorders, including acquired immunodeficiency syndrome (AIDS) and post-traumatic stress disorder (PTSD). Apart from this, it aids in mitigating depression or migraines; therefore, it is consumed for attaining its relaxing or calming effects.

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North America Legal Cannabis Market Trends:

The growing consumer awareness regarding the multiple health benefits of marijuana and the widespread adoption of cannabis-based treatments by the healthcare sector over conventional approaches are primarily driving the market in North America. It includes active compounds cannabidiol (CBD) and tetrahydrocannabinol (THC) that bind to pain receptors and reduce the signals being transferred; therefore, it is frequently prescribed for chronic pain conditions. Furthermore, favorable initiatives being undertaken by the Federal Government of the United States to legalize marijuana to treat epileptic seizures are propelling the market growth. Moreover, the large-scale demand for medical hemp and cannabis across pharmaceuticals, nutraceuticals, food and beverage (F&B), personal care, and cosmetics sectors is favoring the market growth. Besides this, ongoing research and development (R&D) activities to launch cannabis-infused high-quality recreational and medicinal products are positively supporting the market growth.


Who are the key players operating in the industry?

The report covers the major market players including:

  • 22nd Century Group, Inc
  • Medical Marijuana Inc
  • Hemp, Inc.
  • Axim Biotechnologies, Inc
  • Arena Pharmaceuticals, Inc.
  • Canopy Growth Corporation
  • Aphria Inc.
  • Aurora Cannabis Inc.
  • Abcann Medicinals Inc.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Products Derived:

  • Marijuana
  • Industrial Hemp

Breakup by Distribution Channel:

  • Regulated Dispensary
  • Recreational Stores
  • Stand-Alone Retailers
  • Others

Breakup by Region:

  • United States
  • Canada

Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=970&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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