, /PRNewswire/ -- The global legal cannabis market size is estimated to grow by .61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 28.
85% during the forecast period. Rising number of countries decriminalizing and legalizing cannabis is driving market growth, with a trend towards use of advanced techniques in cannabis cultivation. However, lack of funding and investment in cannabis market poses a challenge.
Key market players include Aurora Cannabis Inc., Bhang Nation, Cannabinoid Creations, Cannoid LLC, Canopy Growth Corp., CBD American Shaman.
, Cronos Group Inc., CV Sciences Inc., Elixinol Wellness Ltd.
, Folium Biosciences, Jazz Pharmaceuticals Plc, Medical Marijuana Inc., MediPharm Labs Inc., Mentor Capital Inc.
, PharmaHemp d.o.o.
, Tikun Olam, Tilray Brands Inc., and Unrivaled Brands Inc..
Get a detailed analysis on regions, market segments, customer landscape, and companies- The legal cannabis market experiences growth due to advancements in cannabis cultivation. Fully-equipped laboratories with sanitized chambers and controlled environments facilitate the use of techniques like Screen of Green and Sea of Green. These methods enhance production levels and THC content in cannabis.
Marijuana-derived CBD oil products also benefit from these techniques, increasing revenue in the sector. The application of these advanced techniques is anticipated to boost yield and meet escalating cannabis demand, driving market expansion durin.