Global Cannabis Market Projected To Reach $444 Billion By 2030 As Consumption and Demand Skyrockets

FinancialNewsMedia.com News Commentary –

PALM BEACH, Fla., Oct. 2, 2023 /PRNewswire/ — The global cannabis markets has been growing in recent years and is expected to continue through this decade. Marijuana legalization is gaining momentum across the globe. This momentum is driven primarily by the increasing recognition that the product may have a range of legitimate medicinal benefits and therapeutic applications. It is the most widely cultivated, trafficked, and consumed drug worldwide, according to the United Nations Office on Drugs and Crime (UNODC). A growing number of jurisdictions have established legal frameworks for the non-medicinal use of adults, including social, religious, and cultural purposes. Furthermore, formalizing activities related to the product’s cultivation, production, and trade in a (legally regulated) legal marijuana market will facilitate access to information and increased consumption among consumers, which is expected to provide opportunities for the market in the upcoming years. A report from Fortune Business Insights projected that the global cannabis market size was valued at USD 43.72 billion in 2022 and is projected to grow from USD 57.18 billion in 2023 to USD 444.34 billion by 2030, exhibiting a CAGR of 34.03% during the forecast period.  Active Companies from around the market with current developments this week include:  Leafbuyer Technologies, Inc. (OTCQB: LBUY), Cronos Group Inc. (NASDAQ: CRON), Canopy Growth Corporation (NASDAQ: CGC), SNDL Inc. (NASDAQ: SNDL), Tilray Brands, Inc. (NASDAQ: TLRY).

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