Revenues Continue to Jump for Legal Cannabis Market Expected to Exceed $73 Billion By 2027 – PRNewswire

PALM BEACH, Fla., Feb. 16, 2021 /PRNewswire/ — It seems that every new report concerning future revenues for the legal cannabis market, projects higher numbers that all previous reports. What they DO agree on is that the market has had several robust years of recent growth and shows every sign that the future will continue to outperform projections. A report from Arcview predicted that global legal cannabis sales will hit $42.7 billion by 2024, but it was quickly outpaced by a report from Grand View Research that said that the global legal marijuana market size is expected to reach USD 73.6 billion by 2027, and it is anticipated to expand at a CAGR of 18.1% during the forecast period. The increasing legalization of cannabis for medical as well as adult-use is expected to promote growth.  The Grand View report said: “On the basis of type, the medical segment held the leading revenue share of 71.0% in 2019, owing to the growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions, such as cancer, arthritis, and Parkinson’s disease, and Alzheimer’s disease among other neurological conditions. Moreover, the increasing need for pain management therapies along with the growing disease burden of chronic pain among elders is expected to boost the product demand. Based on product type, the legal marijuana buds segment accounted for the largest market share in terms of revenue… Buds are primary plant products and are readily available without any processing, which makes them relatively affordable for low-income patients. Moreover, the rapid onset of action of smoking buds compared to other types is anticipated to further fuel the segment growth.”  Active Companies active today in the cannabis related markets include:  Item 9 Labs Corp. (OTCQX: INLB), Tilray Inc. (NASDAQ: TLRY), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), MedMen Enterprises Inc. (OTCQX:

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