The latest niche market study “Global Legal Marijuana Market Drivers, Restraints, Potential Growth Opportunities, Vendor Competitive Landscape, Trends and Forecast 2018-2025” published at AdroitMarketResearch.com
The global legal marijuana market size is anticipated to witness the growth of USD xx billion by end of 2025, due to an increasing adoption of marijuana in several medical treatments for chronic pain, cancer, and medical disorder. The legal cannabis market is likely to experience a propelled revenue growth in the near future as it is beneficial for human organs to heal major diseases, to destroy germs and purify filtration of blood in a human body.
Not everyone gives a heads up to marijuana as it holds negative effects of smoking at high volume and its use it for non-medicinal purposes. Looking at the potential the legal cannabis market holds, medical experts have come up with a positive response which can surely make people believe the benefits of marijuana in improving lung health, decreasing anxiety and stopping cancer from spreading.
Due to the positive response coming from experts, the legal marijuana industry has started gaining traction across the globe resulting in an increasing demand among consumers. The demand for medical marijuana is likely expected to hit a hard stroke to increase multiple impacts over the forecast period. As marijuana is legalized in Canada and believed to be a safe drug, the U.S. population supports marijuana for the recreational purpose. The U.S. is indeed destined to see a positive growth in the legal marijuana market size.
People are believing in products like marijuana oil which is generally produced from cannabis seeds owning to its increased effectiveness. The legal marijuana market is witnessing strong information exchange and technological growth. Countries like Australia, Germany, the U.S., and Canada are working on emerging market in terms sales and revenue volumes, whereas, countries like Israel is focusing on research and development and grasping knowledge transfer.
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Rise in Social Acceptance of Marijuana
The market is still in a position to raise social awareness of marijuana and growing business opportunities which apparently do not cause any harm to human health and can cure major diseases. The high growth rate expansion of the global legal marijuana market share has efficiently resulted in increase in revenue for cultivators, as well as dispensary owners. Ancillary businesses such as cannabis oil, bubblers, percolated bongs, hookah parlors, THC-infused ice cream, volcano vaporizers, and brownies are also reaching a higher demand resulting in the growing legal marijuana market size.
The luxury of cannabis products is emerging as a trend in the medical marijuana sector, as the use of cannabis through smoking can bring more harm to human organs. Several vendors are now introducing luxury cannabis products that can make consumers comfortable to obtain the real benefits from the same.
This luxury cannabis can be edible as it contains therapeutic doses. The dose can generally be obtained with a combination of water, which is the good escape from consuming cannabis without a smoke. Due to the growing development in the industry, cannabis is being added to edibles such as cookies, muffins, teas, brownies, chocolates, and chewing gums.
There are a few prominent market players in the industry who are re-producing and improvising the cannabis products for common consumer use, not familiar with a smoke. Madame Munchie is an organization placed in the US that creates cannabis-infused edible products. Defonce makes edible chocolates with a variety of flavors. Patients with major diseases can consume these edibles for a quick cure if recommended by their physicians.
These interesting words by Sara Gullickson, Founder and CEO of Dispensary Permits, defines the scope the legal marijuana industry holds, she says, “If the industry continues to grow like weeds, we will see marijuana removed as a schedule 1 drug which will ignite a major shift in Marijuana’s social and cultural narrative. The reference to WEED will be forgotten and it will instead be referred to as cannabis and given the clout (not street cred) it deserves. Once the Federal Government accepts marijuana, we will see opiate deaths reduce substantially. Marijuana will evolve into an Exit Drug, not a Gateway drug, and will be wildly accepted for its medicinal and wellness properties. It will become a standard household item, and not just another highly profitable tax generator. Most importantly, we, collectively, as industry activists, business professionals, politicians, patients, responsible humans, will take the stigma out of a plant that has been used for hundreds of years and has helped millions of people with dozens of medical conditions and/or ailments.”
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