Towards Healthcare
Legal Marijuana Market Leads 14.4% CAGR to Hit 135.06 Bn by 2034

Legal Marijuana Market Key Trends & Strategic Imperatives

Market insights predict the global legal marijuana industry will increase from USD 35.18 billion in 2024 to USD 135.06 billion by 2034, achieving a CAGR of 14.4%. In 2023, flower buds led the market with a 51% share, showcasing their lasting appeal. Medical marijuana for pain management held 28%, underscoring its therapeutic value. North America dominated with a 70% share, reinforcing its stronghold in the industry.

Introduction

  • Research Objective
  • Scope of the Study
  • Definition and Taxonomy

Research Methodology

  • Research Approach
  • Data Sources
  • Assumptions

Executive Summary

  • Synopsis
  • Analyst Recommendations

Market Overview 

  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Value Chain Analysis
    • Raw Material Sourcing
    • Manufacturing Process
    • Logistics & Transportation
    • Buyer Preferences
  • Trends
    • Market Trends
    • Technological Trends
  • Porter’s Five Forces Analysis
    • Bargaining Power of Suppliers
    • Bargaining Power of Buyers
    • Threat of Substitute
    • Threat of New Entrants
    • Degree of Competition
  • PESTLE Analysis for 5 Leading Countries
    • Regulatory Framework for Leading Countries/Regions
    • Supply Demand Analysis
    • Production & Consumption Statistics
    • Export Import Statistics
    • Price Trend Analysis

Global Legal Marijuana Market Assessment

  • Overview
  • Global Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • Global Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational
  • Global Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Geography (2021 – 2033)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

North America Legal Marijuana Market Assessment

  • Overview
  • North America Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • North America Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational

Europe Legal Marijuana Market Assessment

  • Overview
  • Europe Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • Europe Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational

Asia Pacific Legal Marijuana Market Assessment

  • Overview
  • Asia Pacific Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • Asia Pacific Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational

Latin America Legal Marijuana Market Assessment

  • Overview
  • Latin America Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • Latin America Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational

Middle East and Africa Legal Marijuana Market Assessment

  • Overview
  • Middle East and Africa Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Product Type (2021 – 2033)
    • Flower Buds
    • Oils
    • Tinctures
    • Others
  • Middle East and Africa Legal Marijuana Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Medical
      • Pain Management
      • Neurological Disorders
      • Mental Health
      • Gastrointestinal Disorders
      • Cancer Support
      • Others
    • Recreational

Company Profiles

  • Curaleaf Holdings Inc.
    • Company Overview
    • Geographic Footprints
    • Financial Performance
    • Product Portfolio
    • SWOT Analysis
    • R&D Efforts
    • Recent Developments & Strategic Collaborations
      • Product Launch/M&A/Technical Collaboration
  • Green Thumb Industries Inc.
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Maricann Inc.
  • Jazz Pharmaceuticals, Inc.
  • Organigram Holdings Inc.
  • Controlled Environments Limited
  • Lexaria Bioscience
  • Tikun Olam

Conclusion & Recommendations

  • Insight Code: 5106
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: April 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Deepa Pandey is a focused and detail-oriented market research professional with growing expertise in the healthcare sector, delivering high-quality insights across therapeutic areas, diagnostics, biotechnology, and healthcare services.

She began her research career at Precedence Research, where she contributed to a wide range of healthcare industry studies, helping build a strong foundation in market intelligence and strategic research. Currently, Deepa plays a critical role at Towards Healthcare, while also extending her research capabilities across Statifacts, supporting cross-industry intelligence initiatives with a focus on healthcare.

Her ability to distill complexity into clarity has made her a trusted contributor to both internal teams and external clients across the healthcare value chain. By combining professionalism with an evolving depth in healthcare research, Deepa consistently adds value to projects that demand critical thinking, market precision, and industry-specific knowledge. Her contributions help organizations navigate the complexities of regulated markets and make data-backed growth decisions.

FAQ's

Marijuana has potential medicinal uses, including pain relief, nausea reduction in cancer patients undergoing chemotherapy and appetite stimulation for those with weight loss due to medical conditions. It is also being explored for managing conditions like epilepsy and multiple sclerosis.

Several countries have legalized the medical and recreational use of marijuana. Some examples include Canada, Uruguay and certain states in the United States.

As more regions legalize medical or recreational use, it opens up new markets and increases demand. Ongoing research into the medicinal properties of marijuana leads to new therapeutic applications, potentially expanding its market.

National Institute of Health, World Health Organization, Center for Disease Control and Prevention, CT.gov., Therapeutics Goods Administration.