To be honest, I had kind of forgotten that the Universe was allowed to contain negative consequences for legalizing drugs.
The market is expected to witness significant growth owing to legalization in several countries and high demand for both medical and recreational purposes. Over the past few years, the number of companies operating in this market has increased exponentially.
Producers are focused on expanding their customer pool by offering myriad portfolio of products and through geographical expansion.
Products currently being offered include varieties of strains and extracts such as oils, tinctures, resins, and consumables based on concentration of cannabinoids like THC and CBD. As countries begin to liberalize laws related to this drug, the market is expected to witness a surge in demand.
Currently, majority of the cannabis is sold through illicit channels. To curb this illegal trade, governments have started legalizing marijuana in order to monitor the products that enter the supply chain and reap benefits through taxes levied on these products.
This in turn has prompted several countries to initiate legalization programs. Keen investors are awaiting legalization of recreational marijuana in countries like Canada.
As recreational cannabis is legalized, the number of patients consuming it is excepted to reduce by Marijuana Type Insights On the basis of type, the market is segmented into medical and recreational.
The medical segment is estimated to dominate the global market and accounted for around Several countries have legalized hemp products as treatment options for conditions such as multiple sclerosis, cancer-induced nausea, and chronic pain.
Moreover, several countries have recognized health benefits of this product and are in process of legalizing it. With increase in volume of scientific studies and clinical trials, demand for cannabis for clinical use is expected to grow over the forecast period.
Countries such as U. However, Canada is anticipated to legalize recreational use by late These countries are expected to provide growth opportunities to producers, as consumption of this drug and its derivatives is expected to increase with rise in number of consumers.
Recreational use of this drug is considered as a substitute for cigarettes and alcoholic beverages such as beer. Producers in Canada and several U. Manufacturers have also started promoting derivatives such as tinctures, oils, and resins, along with products like vaporizers, among millennials who are considered primary consumers.
The market for recreational cannabis is anticipated to witness faster growth as compared to that for medical usage owing to large customer pool. Moreover, it has been reported that patients in U.
This is mainly because of the stringent regulatory and approval process for receiving prescription of medical marijuana.Marijuana, legal, illegal, weed, pot news, analysis, laws, culture, changes about recreational and medical dispensaries by The Denver Post.
Considering Marijuana Legalization Carefully: Insights for Other Jurisdictions from Analysis for Vermont Debates about the pros and cons of legalizing marijuana should also include detailed discussions of how best to implement legalization.
Download SPECIAL REPORT No. Marijuana Legalization and Taxes: Lessons for Other States from Colorado and Washington (PDF) Key Findings. Marijuana tax collections in Colorado and Washington have exceeded initial estimates, and a nationwide legalization-and-tax regime could see states raise billions of dollars per year in marijuana tax revenue.
Marijuana tax collections in Colorado and Washington have exceeded initial estimates. A mature marijuana industry could generate up to $28 billion in tax revenues for federal, state, and local governments, including $7 billion in federal revenue: $ billion from business taxes and $ billion.
California NORML Report by Dale Gieringer, Ph.D. - Updated October Marijuana Legalization Could Yield California Taxpayers Over $ Billion Per Year. analysis of peer-reviewed literature was conducted, and information was obtained from jurisdictions that have legalized marijuana.
In addition, experts legalization of marijuana will address an important social justice issue by reducing disproportionate.