LEGAL MARIJUANA MARKET ANALYSIS

Regional Analysis

Global Legal Marijuana Market: Regional Insights

Based on geography, the global legal marijuana market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East and Africa: GCC Countries, Israel, Rest of Middle East, South Africa, North Africa, and Central Africa

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing demand for medical marijuana, rise in usage of marijuana, favorable government initiatives, and surging pace of cannabis legalization in the United States. For instance, as of 2022, 22 states, 3 U.S. territories, and District of Columbia have legalized recreational use of cannabis. In April 2023, Delaware became the 22nd state to allow legal recreational marijuana Furthermore, thirty-eight states, four U.S. territories, and Washington D.C. have legalized medical use of the drug, driving the growth of the market.

Europe and Asia Pacific are also expected to witness robust growth in the global legal marijuana market due to the rise in trend of cannabis legalization, increasing demand for medical marijuana, growing adoption of medical marijuana for treatment of chronic disease, and favorable government initiatives in these regions. For instance, several EU countries have legalized medical marijuana in recent years. Medical marijuana has also been legalized in other EU member states, most recently in France, Romania and the Czech Republic. The use of Sativex has been approved in 17 European countries, 9 of which have already made it available.