Dublin, July 24, 2023 (GLOBE NEWSWIRE) — The “California Legal Cannabis Market, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

California’s legal cannabis market is projected to reach USD 5.4 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.

Market Drivers:

The growth of the California legal cannabis market is driven by increasing awareness of the benefits of cannabis products for post-traumatic stress disorder (PTSD) and Alzheimer’s disease. A study conducted by the National Alliance on Mental Illness in California revealed that around 9 million adults in the U.S. are affected by PTSD. Additionally, the Alzheimer’s Association reports that over 690,000 adults aged over 65 suffer from Alzheimer’s, and more than 7% of adults aged 45 and above experience subjective cognitive decline in the state. Furthermore, a study published by the NCBI in 2022 indicates an increasing adoption of cannabis for the treatment of mental health disorders, including PTSD, among U.S. citizens.

Government Initiatives:

Rising government efforts, such as funding and initiatives, are contributing to the market’s growth. For instance, in April 2023, the California Department of Cannabis Control (DCC) announced a USD 20 million funding for scientific studies on the effect of cannabis derivatives, such as Delta-10 THC and Delta-8, on the mental health of the young population. Moreover, the governor of California signed 10 marijuana-related bills in September 2022, which are expected to facilitate interstate commerce of cannabis and offer employment protections for marijuana customers.

Market Segmentation:

The report provides a comprehensive analysis of the market’s segmentation based on source (marijuana, hemp), product (flowers, oils, and tinctures), and end-use (medical, industrial, recreational). The report highlights that California legalized cannabis for medical use in 1996 through the Compassionate Use Act, and Proposition 64 passed in 2016 legalized the recreational use of cannabis.

Key Players and Strategies:

The presence of key players, including Punch Edibles Media, LLC, Leef, Jetty Extracts, Agrowth, 4C Labs, Catalyst Cannabis Co., Harborside, and THC Design, is positively impacting the market. These major operators are adopting various strategies such as partnerships, expansions, acquisitions, new product launches, and collaborations to strengthen their market position. For example, Jetty Extracts announced its expansion into New York in January 2023 through partnerships with retailers and local producers. In April 2022, Harborside Inc. acquired LPF JV Corporation, a manufacturer, cultivator, and distributor of cannabis brands in the state, to expand its market share significantly.

Key Attributes:

Key Topics Covered:

Chapter 1 Methodology And Scope
1.1 Research Process
1.2 Information Procurement
1.2.1 Purchased Database
1.3 Research Methodology
1.4 Research Scope And Assumptions
1.5 Research Methodology
1.6 State Market: CAGR Calculation
1.6.1 State-Based Segment Share Calculation
1.7 List Of Data Sources

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Market Snapshot

Chapter 3 California Legal Cannabis Market: Variables, Trends, And Scope
3.1 Impact Of Regulations On Cannabis Market In California And Demand-Supply Analysis
3.2 Market Segmentation
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint Analysis
3.4 Penetration & Growth Prospects Mapping
3.5 California Legal Cannabis Regulatory Scenario
3.6 California Legal Cannabis- PESTEL Analysis
3.6.3 Social
3.6.4 Technology
3.6.6 Economic
3.7 California Legal Cannabis- Porter’s Analysis
3.7.2 Bargaining Power Of Buyers
3.7.3 Competitive Rivalry
3.7.4 Bargaining Power of Suppliers
3.7. 5 Threat of Substitutes
3.8 Opportunity Analysis (2018 – 2022 – 2030)
3.9 Product Pipeline Analysis, By Stage
3.10 Impact of COVID-19 on the Market
3.11 Company Market Position Analysis (2022)
3.12 Market Entry Strategies

Chapter 4 California Legal Cannabis Market: Product Type Estimates And Trend Analysis
4.1 California Legal Cannabis Market: Product Type Movement Analysis
4.2 Legal Cannabis Market: Product Type Analysis
4.2.1 Flower
4.2.2 Oil And Tinctures

Chapter 5 California Legal Cannabis Market: End-use Estimates And Trend Analysis
5.1 California Legal Cannabis Market: End-use Movement Analysis
5.2 California Legal Cannabis Market: End-use Analysis
5.2.1 Adult/Recreational Use
5.2.2 Medical Use
5.2.2 Industrial Use

Chapter 6 California Legal Cannabis Market: Source Estimates And Trend Analysis
6.1 California Legal Cannabis Market: Source Movement Analysis
6.2 California Legal Cannabis Market: Source Analysis
6.2.1 Hemp
6.2.2 Marijuana

Chapter 7 Competitive Landscape
7.1 Company Profiles
7.1.1 Punch Edibles Media, LLC
7.1.2 Leef
7.1.3 Jetty Extracts
7.1.4 Agrowth
7.1.5 4C Labs
7.1.6 Catalyst Cannabis Co.
7.1.7 Harborside
7.1.8 THC Design

For more information about this report visit https://www.researchandmarkets.com/r/dp7dvh

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• Californian Legal Cannabis Market