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The global legal marijuana market was valued at $14.3 bn in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 and 2024, culminating in 2024 global sales of $63.5bn.
The legal marijuana market is witnessing robust growth owing to the increasing legalization and decriminalization of marijuana across North America and Europe. The rising demand of marijuana for recreational use and medical use is a key factor driving the growth. Due to the complex regulatory structure at state level and federal level, the full potential of the market is not yet realized.
