Emerging Trends in the Legal Cannabis Industry
According to a recent economic report published by analysts at Research and Markets, the global legal cannabis market is projected to experience substantial growth. The analysts’ latest market forecast highlights the strong profit potential of this emerging international industry. In a press release, Research and Markets stated: “The global legal cannabis market was valued at $33.8 billion in 2024 and is projected to reach $110.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 21.8% from 2024 to 2030.”
Emerging Trends in the Legal Cannabis Industry
The legal cannabis industry is undergoing a significant transformation, with several key trends shaping its future. One of the most notable trends is the increasing demand for cannabis-based health and wellness products, including CBD-infused supplements, skincare products, and functional beverages. Another significant trend is the expansion of cannabis retail and e-commerce platforms, making cannabis products more accessible to consumers through online sales and home delivery services. The rise of premium and craft cannabis products is also gaining traction as consumers seek high-quality, sustainably grown cannabis varieties. Furthermore, the increasing adoption of cannabinoid ingredients in the pet care industry, and CBD-based therapies for animal anxiety and pain relief, are expanding the market reach. Advancements in cannabis cultivation technologies, such as hydroponics and vertical farming, are also improving crop yields and product consistency. In addition, the rise in investment and mergers and acquisitions within the cannabis industry is accelerating industry consolidation and giving rise to multinational cannabis brands. As global regulatory frameworks continue to evolve, cross-border cannabis trade and international market expansion are becoming significant growth drivers.
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