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North America Legal Cannabis Market Size & Share to Record New Values for the Forecast Period 2020-2030
Cannabis is a synthetic drug produced from the dried leaves and flowers of the hemp plant, which thrives in tropical and temperate climates across the world. Cannabis, also known as hash, weed, marijuana, pot, dope, smoke, and cone, can be obtained in a variety of ways, ranging from the basic process of drying and curing marijuana flowers to the complex chemistry involved in manufacturing cannabis concentrates. Cannabis is gaining popularity for both medical and recreational reasons in North America as the legal landscape shifts toward decriminalization and complete legalization. Marijuana has been legalized in 30 states for medicinal reasons and 9 states for both therapeutic and recreational use in the United States. The use of the substance for therapeutic purposes has been lawful in Canada since 2001; nevertheless, recreational use was made possible by a bill enacted in June 2018. This shift in the regulatory environment has resulted in more people using medicinal cannabis to address conditions including chronic pain, depression, PTSD, social anxiety, cancer, multiple sclerosis, and epilepsy, all of which are linked to changing lifestyles.
Canopy Growth Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Cannabis legalization is frequently regarded in a dual perspective, with skepticism linked with the possibility of misuse. People may now use cannabis in a safe manner while also benefiting from its medical properties, thanks to its legalization. As a result, numerous nations throughout the world are increasingly legalizing the use of cannabis. While most nations throughout the world have yet to legalize cannabis for recreational use, attitudes toward its use and sale have been more relaxed over time. As a result, cannabis has become increasingly popular in numerous places, propelling the whole cannabis industry forward.
Cannabis consumer goods firms and merchants are swiftly adapting to satisfy the demands of the “mainstream” cannabis customer. Customers may now choose from a growing number of goods, including concentrates, infused items, and topicals, in addition to smoking flower via joints, pipes, or bongs. Products on the market are progressively addressing the features that modern consumers desire, such as more discretion, convenience of use, product safety, and precise dosage. Companies have responded to these needs with increasingly complex packaging and advertising in order to attract more mainstream customers.
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Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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