The International Cannabis Market
An International Overview
The global legal marijuana market is expected to reach USD 146.4 billion by end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future.
The legal cannabis market has had explosive growth since several states in the United States legalized recreational consumption. With Canada legalizing recreational consumption nationwide and the growing popularity of the plant in the United States, the global legal cannabis market is set to reach over 63 billion dollars in value by 2024.
According to a market report made public on Tuesday (February 26) from Euromonitor International, the firm expects legal cannabis to represent over 70 percent of the total market globally by the target date. Zora Milenkovic, head of drinks and tobacco at Euromonitor International, said cannabis will serve as an ingredient in several consumer goods.
Researchers at the University of Bonn and Hebrew University have discovered that low, regular doses of tetrahydrocannabinol (THC), one of the main active ingredients or cannabinoids found in marijuana, may help to keep our brains from 'slowing down' as we get older. Published today in the journal Nature Medicine, the German study revealed that while younger mice suffered a performance drop under the influence of THC, the psychoactive chemical gave older mice a considerable performance boost, even putting them on par with younger mice who'd abstained.
Home to more than 740 million people — a population more than double that of the US and Canada combined — Europe is set to become the world’s largest legal weed market over the next five years. A new report launched at Davos by legal cannabis expert, Prohibition Partners, maintains that steeply rising patient numbers and legislative progress have created a "transformative" backdrop for medicinal cannabis use in Europe.