The North American legal cannabis market is booming, projected to grow from $44.83 billion in 2024 to $354.82 billion by 2033, with a 24.55% CAGR. Factors such as evolving legislation, increasing public acceptance, and significant innovations are driving this growth. Canada leads with federally legalized cannabis, influencing U.S. states to expand their legal frameworks. Medical cannabis is gaining recognition due to research validating its therapeutic benefits, such as substantial improvements in Alzheimer's patients, reshaping public perception and driving demand.
In 2024, the North American legal cannabis market was valued at $44.83 billion and is projected to reach $354.82 billion by 2033, reflecting a CAGR of 24.55%.
The legal landscape is evolving, with Canada having federally legalized cannabis in 2018 and several U.S. states following suit with adult-use programs.
Research from institutions like Johns Hopkins reveals the therapeutic potential of cannabis, with studies showing significant benefits such as a 30% reduction in agitation for Alzheimer's patients.
Cannabis is being normalized on Main Street, with increasing public acceptance and a favorable regulatory environment driving economic growth and innovation in the industry.
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