Global marijuana cigarette market is estimated to witness high growth
The market is projected to be valued at US$58.63 billion in 2023 and exhibit a robust CAGR of 34.1% over the forecast period of 2023-2030, according to a new report published by Coherent Market Insights.
Market Overview:
The marijuana cigarette market comprises the production and sale of cannabis cigarettes, commonly known as joints, which are rolled with marijuana flowers. These marijuana cigarettes are predominantly used for smoking purposes, both for medicinal and recreational purposes. The increasing prevalence of chronic diseases and the growing demand for natural alternatives to traditional medications are driving the demand for marijuana cigarettes. Additionally, the legalization of marijuana in several countries and the shift in public opinion towards cannabis use are further fueling market growth.
Market Dynamics:
The rapid growth of the marijuana cigarette market can be attributed to two key drivers. Firstly, the increasing legalization of marijuana for medical and recreational purposes is driving market growth. Several countries, including Canada, Uruguay, and various states in the United States, have legalized the use of marijuana either medicinally or recreationally, leading to an increased demand for marijuana cigarettes. Secondly, the growing acceptance of cannabis as an alternative treatment option for various health conditions is contributing to market growth. Marijuana cigarettes are widely used by medical marijuana patients to alleviate symptoms of chronic pain, nausea, and anxiety, among other conditions. The therapeutic properties of cannabis are gaining recognition, leading to higher adoption and demand for marijuana cigarettes in the healthcare sector.
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