Legal Marijuana Market Medical & Recreational with Focus on US &
Canada: Industry Analysis 2016-2020
ReportsWeb.com published “Legal Marijuana Market” from its database. The report covers the
market landscape and its growth prospects over the coming years. The report also includes a
discussion of the key vendors operating in this market.
Cannabis, also known as marijuana, belongs to a family of plants called Cannabaceae. There are
over 700 varieties of cannabis, which have been described till date. Based on characteristics
such as shape, color, height, smell, it is usually recognized by two main types: Cannabis Sativa,
which originated in the Western hemisphere and Cannabis Indica, which originated in Central
and South Asia.
The report "Marijuana Market" provides an in-depth analysis of the US and Canada market on
the basis of its segments. The major trends, growth drivers as well as issues being faced by the
industry are being presented in this report. The key players in the industry, American Cannabis
Company, mCig, Inc., GreenGro Technologies, Inc. and Mentor Capital Inc. are being profiled.
For more information about this report: http://www.reportsweb.com/legal-marijuana-market-
medical-and-recreational-with-focus-on-us-and-canada-industry-analysis-2016-2020
The key factors driving the growth of the marijuana/cannabis market are technological
advancement, premium pricing due to high energy consumption in marijuana production, rising
social acceptance of marijuana and growing business opportunities, increasing business
sophistication, large base of potential cannabis consumers, medical cannabis on the rise,
growing popular support in cannabis market and the growth of the vaporizer industry. Some of
the noteworthy trends and developments of this industry are national expansion & brand
growth, emergence of large grow, banking & financial services, cannabis as healthcare
treatment and innovative product development. However, the expansion of
marijuana/cannabis market is hindered by legal issues.
In addition to the legalization of medical marijuana, there are states which have also legalized
the recreational use of this drug for adults who are 21 years old or older. So far, four states as
well as the District of Columbia have legalized recreational marijuana use, and 23 states allow
marijuana use for medical purposes. These changes in state laws have helped the growth of the
cannabis industry. The new and revised laws show that people are finally starting to realize that
this drug can have legitimate uses.
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