Market Research Report
Global Legal Cannabis Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||586152|
|Published||Content info||120 Pages
Delivery time: 1-2 business days
|Global Legal Cannabis Market 2019-2023|
|Published: November 30, 2018||Content info: 120 Pages||
The use of advanced techniques in cannabis cultivation is likely to drive market growth. The cannabis industry has been growing with the advent of new processes used in cannabis cultivation. These processes have been extremely helpful in improving the quality and increasing the production level. Cannabis cultivation is basically done in fully-equipped laboratories with facilities like sanitized chambers and controlled environment. Technavio's analysts have predicted that the legal cannabis market will register a CAGR of over 27% by 2023.
Rapid legalization of cannabis has been a major driver impacting the growth of the market, which is influencing many nations to decriminalize cannabis and legalize the use of marijuana both for recreational and medicinal purposes.
Legalizing cannabis in any country poses a great threat to its citizens as its over consumption can lead to various respiratory problems and several health issues.
For the detailed list of factors that will drive and challenge the growth of the legal cannabis market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Aphria and Aurora Cannabis the competitive environment is quite intense. Factors such as the use of advanced techniques in cannabis cultivation and the rapid legalization of cannabis, will provide considerable growth opportunities to legal cannabis manufactures. Aphria, Aurora Cannabis, Canopy Growth Corporation, CV Sciences, and Tilray are some of the major companies covered in this report.