The legal cannabis industry is growing leaps and bounds over the last few years, thanks to a number of jurisdictions that legalized the sale and use of cannabis products in many countries across the world. The legalization of cannabis in countries like Canada and the US has prompted several companies to enter the industry and consequently triggered the growth of the global market for legal marijuana. According to the latest market report from Technavio, the global legal cannabis market is expected to grow at a CAGR of close to 24 % over the next five years till 2021.
These insights are part of the comprehensive dossier penned by the expert in-house research team at Technavio that addresses the various factors associated with the growth and decline of the global legal cannabis market and its related segments. These detailed insights were expertly utilized in articles published by some of the most popular websites including The Times UK, The Globe and Mail, and The Innovation Enterprise. Here is a brief on these influential articles.
The Boom of the Legal Cannabis Market in North America
North America has become the major contributor to the growth of the legal cannabis market and is expected to grow more in the coming years owing to the legalization of cannabis in Canada, and the US. The article recently published by The Globe and Mail cited Technavio’s Global Legal Cannabis Market 2017-2021 and expertly channelized the market insights provided in the report to substantiate their insightful article.
According to the report, the growing awareness regarding the exceptional benefits of Cannabidiol (CBD oil) such as anti-inflammatory properties, protection from Alzheimer’s disease, effective treatment of epilepsy and other mental disorders is fueling the growth of the cannabis market in North America. CBD oil products are also highly recommended to prevent cancer as it suppresses the growth of cancer cells. Combine this with the growing influence of online retailing on shoppers, it is eminent that the growth in the sale of cannabis products will increase significantly over the next five years.
The Growing Use of Cannabis Oil in Food and Beverage Industry
Given the multifold health benefits of CBD oil that are aforementioned, an article published by Sean Pollock in The Times UK emphasizes on the growing use of CBD oil in food products and beverages including chocolates, natural juices, and many other products. According to the article, Irish companies are all set to reap the benefits of the growing popularity of cannabidiol(CBD). The author also mentioned the recent introduction of CBD oil products by companies like Beneficial Chocolate Company that recently launched CBD-infused dark chocolate.
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The content in the article was substantiated through the comprehensive market research on the Global CBD Oil Market 2018-2022 report compiled by expert analysts at Technavio. The market analysts estimate that the global CBD oil market is already worth more than €595 million and is set to register market revenues of over €2.3bn by 2022.
For information about the global CBD oil market size, top CBD oil companies, and the latest market opportunities and market trends, please see Technavio’s Global CBD Oil Market Report 2018-2022, or download your FREE Global CBD Oil Market Report Sample now!