Legal Cannabis Market size is expected to reach USD 134.4 billion by 2030
Legal Cannabis Industry Overview The global legal cannabis market size was valued at USD 17.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.3% from 2022 to 2030. The increasing rate of legalization of cannabis and acceptance of its use in the medical field are the key factors due to which the market is expected to boom. Cannabis has long been used for medicinal purposes but not as the first line of treatment. Research surrounding the use of cannabis for its medicinal properties has led to it being used for various indications. Cannabis has been found to be greatly effective in its ability as a therapeutic for chronic pain and in treating nausea caused due to chemotherapy. It is still classified as a Schedule I drug by the U.S. Drug Enforcement Administration (DEA), in spite of which it has been legalized in more than two-thirds of the states. Gather more insights about the market drivers, restrains and growth of the Glo...