Legal Cannabis Market Size, Share, Growth Analysis, By Source(Marijuana (Flowers, Oil and Tinctures), Hemp (Hemp CBD, Supplements), By Derivative(CBD, THC, Others), By End-use(Medical Use (Cancer, Chronic Pain, Depression and Anxiety, Arthritis), By Region - Industry Forecast 2024-2031

North America is forecasted to emerge as the top market for legal cannabis companies in the future owing to growing legalization efforts in multiple parts of this region. Rising awareness regarding the health benefits of cannabis and its growing use in multiple healthcare and wellness products are also cementing the dominance of this region going forward. The United States and Canada are forecasted to be the most opportune markets for legal cannabis companies operating in the North American region through 2031. Presence of leading cannabis providers and rising recreational use of cannabis are also expected to bolster the high legal cannabis market share of this region. 

The Asia Pacific region is expected to emerge as the fastest expanding market for legal cannabis in the world going forward. Rising acceptance of cannabis, growing awareness regarding its benefits among consumers, and growing availability of scientific proof to back its health benefits are expected to bolster the demand for legal cannabis in this region. Recreational use of cannabis is not as popular in this region but medical and industrial use of legal cannabis is projected to shine bright in the long run. India, China, and Japan are forecasted to be the leading markets for sales of legal cannabis across the study period and beyond.