Global Legal Cannabis Market to Reach US$ 61.4 Billion by 2027, Impelled by Increasing Product Legalization

December 09, 2022

The latest report by IMARC Group, titled “Legal Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global legal cannabis market size reached US$ 16.2 Billion in 2021. Legal cannabis is a drug obtained from Cannabis Sativa, Indica, and Ruderalis plants. It has psychoactive properties that help relieve chronic pain, regulate and prevent diabetes, alleviate anxiety, and treat depression and inflammatory bowel diseases among individuals. It is also used in the treatment of cancer, multiple sclerosis, arthritis, glaucoma, epilepsy, migraines, Alzheimer’s, Tourette’s, Parkinson, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), and post-traumatic stress disorder (PTSD). Owing to these properties, legal cannabis finds extensive applications across the pharmaceutical industry across the globe.

Global Legal Cannabis Market Trends:

The market is primarily driven by the increasing number of countries legalizing and decriminalizing cannabis. In addition, oral cannabinoids are effective antiemetics for adults suffering from chemotherapy-induced nausea and vomiting. They are also used to treat spasticity symptoms in individuals with multiple sclerosis (MS)-related spasticity. This, coupled with the expanding pharmaceutical industry worldwide, is positively influencing market growth. Besides this, the market is also propelled by the rising approvals legalizing the use of medications containing cannabidiol (CBD) to treat rare epilepsy like Lennox-Gastaut and Dravet syndrome, which are difficult to control with other types of medication. Moreover, the increasing awareness among individuals regarding the medical benefits of legal cannabis and the rising number of research and clinical trials around the world are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 61.4 Billion by 2027, exhibiting a CAGR of 24.94% during the forecast period (2022-2027).

Market Summary:

  • Based on the source, the market has been categorized into marijuana and hemp.
  • On the basis of derivatives, the market has been bifurcated into cannabidiol (CBD) and tetrahydrocannabinol (THC).
  • Based on the distribution channel, the market has been classified into recreational stores, pharmacies, online stores, and others.
  • On the basis of the end user, the market has been segmented into medicinal, recreational, and industrial use. 
  • Region-wise, the market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corporation, Green Thumb Industries, GW Pharmaceuticals plc (Jazz Pharmaceuticals plc), HEXO Corp., Organigram Holdings Inc., Sundial Growers Inc., The Cronos Group, The Green Organic Dutchman Holdings Ltd., The Scotts Miracle-Gro Company, Tilray Brands, Inc., and VIVO Cannabis Inc.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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.

Contact Us:

30 N Gould St, Ste 
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Legal Cannabis Market to Reach US$ 61.4 Billion by 2027, Impelled by Increasing Product Legalization
Select Licence Type

Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More