The legal marijuana industry is booming each year is expected to cross the $66.3 billion mark by the end of 2025. The recent legalization, coupled with the latest research on the legalized marijuana products, has helped the compound grow leap and bound. The expected compound annual growth rates of the product are pegged at 23.9 percent. The double-digit growth figures excite the prospects of the industry and hence has attracted many venture capitalists in this domain.
Factors driving the growth prospects of the industry
There is a slew of factors that have affected the entire industry. Legalization of marijuana for medical and recreational purposes has had a positive impact on the industry. This has affected the black market by a great extent. Furthermore, it has opened the floodgates for the government. The government has now easy access to the tax revenues on the following products. Presence of large customer base ensures that the funds keep coming even in the worst time.
Despite all the efforts by the major economies, the stringent rules and regulations have affected the growth opportunities. Europe has already tasted the results of strict laws in place. Strict laws are the necessity of the hour and should not be ignored by the government for higher profits.
For Detailed Report Visit @ https://www.wiseguyreports.com/reports/4259704-global-marijuana-market-2019-by-manufacturers-regions-type
Key Geographical Markets
The United States and European companies have always been known for their dominance and technological opportunities. Despite this, Israel has been leading the race. The country denominates the market by a great extent and is spreading the word to the rest of the world. Other prominent markets include names like Australia, Poland, Germany, Uruguay, and Colombia. These markets project high growth opportunities and are about to promote the industry positively.
Other rising markets include names like the United Kingdom. These countries are still working on the law and are about to make significant improvements for the medical use of marijuana. Furthermore, emerging nations like South Africa and New Zealand are in the mid of conversation about the industry and how it can implement rules on the same.
Leading manufacturers in the domain
The industry is relatively new and is booming exponentially. Some of the major names who have invested heavily in the field include names like Aphria, Manitoba Harvest, CW Hemp or CW Botanicals, Nutiva, CV Sciences, Isodiol, ENDOCA, North America Hemp & Grain Co, Hempco, Yishutang among many others. The companies are widespread throughout the world and are supposed to make significant changes in the entire society.
With the ease of doing business being a matter of concern for many, the companies all over the world are working and promoting in major geographies that affect their growth prospects positively.
After decades of patience, the marijuana industry is about to make significant reforms. The products are readily available in supermarkets or convenience stores. The product is available in the form of seeds, oils, gel, and protein capsules. The research on the subject is still on, and companies all over the world are trying to produce crucial products from the plant.
Contact Us: Sales@Wiseguyreports.Com Ph: +1-646-845-9349 (Us) Ph: +44 208 133 9349 (Uk)
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349