Market Research Future (Food and Beverages) Legal Marijuana Market Research Report | Page 3

Legal Marijuana Market Research Report- Forecast till 2022
2 Market Overview
The global legal marijuana market has witnessed constant demand during the last few years and is projected to
reach USD 4.69 billion at a CAGR of 22.03% by 2022. Many health benefits associated with marijuana is increasing
its application in the medical sector. The demand for legal marijuana is increasing for recreational activity, which is
driving the growth of the market. Furthermore, high consumption in North America, mainly in the U.S. and Canada,
has been influencing the market growth from the last few years.
North America likely to dominate the legal marijuana market (in terms of value and volume both) and is estimated to
reach the market share of USD 1.6 billion by the end of 2017. The consumption of legal marijuana from RoW is
projected to witness a high growth rate of 15.94% during the given period owing to the increasing consumption of
legal marijuana in Turkey, Australia, Argentina, and the Philippines. Continuous research on the marijuana spices to
bring out value-added products from cannabis strains have been contributing to the growth of the legal marijuana
market from the past few years.
By type, Sativa is projected to dominate the market with over 50% share of the global market. Sativa helps in uplifting
the emotions and energizes the body. Thus it is stimulating better functioning, which is increasing the inclination of
medical professionals towards this strain and boosting the demand for Sativa in the global market.
Regional Analysis:
By type, Sativa is projected to dominate the market with over 50% share of the global market. Sativa helps in uplifting
the emotions and energizes the body. Thus it is stimulating better functioning, which is increasing the inclination of
medical professionals towards this strain and boosting the demand for Sativa in the global market.
Based on the application, medicinal use of legal marijuana is dominating the market by holding 67.2% share of the
global market. However, increasing awareness of benefits from legal marijuana healing skin conditions, reducing
body fats, and others are gaining popularity among the population and boosting other uses segment at a growth rate
of 13.08%.
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