Market Research Logo

Cannabis Market by Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC & CBD), Application (Medical and Recreational), and Region (North America, South America, Europe, and Row) - Global Forecast to 2023

Cannabis Market by Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC & CBD), Application (Medical and Recreational), and Region (North America, South America, Europe, and Row) - Global Forecast to 2023

“Growing medicinal application of cannabis is expected to drive the overall growth of the cannabis market.”
The cannabis market size is expected to grow from USD 10.3 billion in 2018 to USD 39.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period. The cannabis market is driven by various factors such as the growing medicinal application of cannabis and the increasing legalization of cannabis. However, a complex regulatory structure for the use of cannabis can hinder the growth of the market.

“The concentrates segment is expected to grow at the highest CAGR during the forecast period.”
The concentrates segment is the fastest-growing segment in the cannabis market, by product type. This is due to their ease in usage and their versatility in the method of delivery, such as dabbing, ingestible oils, and tinctures. Also, along with ingestion, concentrates can offer cleaner, smoother, and less-odiferous hits than flowers. Concentrates are being increasingly opted for over flowers, as these as more potent in nature. The potency of concentrates could also be modified as per requirement and usage, to evoke a higher consumer likeability.

“The THC-dominant segment, by compound, is projected to hold the largest market share during the forecast period.”
The THC-dominant segment is projected to hold the largest share and grow at the highest CAGR during the forecast period. The dominance of this segment is majorly attributed to the fact that THC is the psychoactive substance in cannabis products and is responsible for head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has important medical benefits and is considered effective in relieving nausea, appetite loss, and insomnia.

“North America is projected to be the dominant market during the forecast period.”
The market in this region is primarily driven by the growth in the US and Canadian markets. The market in this region is driven by the increasing legalization of cannabis for both medical and recreational purposes all over North America and the increasing awareness among consumers regarding the health benefits of cannabis. The market is further fueled by the presence of major cannabis giants such as Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc., who are continuously investing and collaborating for the development of new products to fulfill the consumer demand.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cannabis market.

By Company Type: Tier 1: 30%, Tier 2: 40%, and Tier 3: 30%
By Designation: C-level Executives: 75%, and Managers: 25%
By Region: North America: 50%, South America: 20%, Europe: 20%, RoW: 10%

The cannabis market comprises major providers such as Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Tikun Olam (Israel), Cannabis Science Inc. (US), Aphria Inc. (Canada), and Maricann Group Inc. (Canada) among others. The study includes an in-depth competitive analysis of these key players in the cannabis market, along with their company profiles, recent developments, and key market strategies.

Research Coverage:
The market study covers the cannabis market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, on the basis of product type, application, compound, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cannabis market and its subsegments. This report will help the stakeholders to understand the competitive landscape, to gain more insights to position their businesses better, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on the key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SEGMENTATION
    • REGIONS COVERED
    • PERIODIZATION CONSIDERED
    • CURRENCY CONSIDERED
      • Table US DOLLAR EXCHANGE RATES CONSIDERED, 2015–2018
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
    • ASSUMPTIONS FOR THE STUDY
    • LIMITATIONS OF THE STUDY
  • EXECUTIVE SUMMARY
    • Table CANNABIS MARKET SNAPSHOT, 2018 VS. 2023
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE CANNABIS MARKET
    • CANNABIS MARKET: MAJOR COUNTRIES
    • CANNABIS MARKET IN NORTH AMERICA, BY PRODUCT TYPE & COUNTRY
    • CANNABIS MARKET, BY APPLICATION & REGION
    • CANNABIS MARKET, BY COMPOUND & REGION
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • VALUE CHAIN: CANNABIS MARKET
    • GLOBAL REGULATORY OVERVIEW
    • REGULATORY OVERVIEW, BY COUNTRY
      • US
      • CANADA
      • GERMANY
      • ITALY
      • DENMARK
      • CZECH REPUBLIC
      • CHILE
      • NETHERLANDS
      • COLOMBIA
      • URUGUAY
      • AUSTRALIA
      • ISRAEL
  • CANNABIS MARKET, BY PRODUCT TYPE
    • INTRODUCTION
      • Table CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
    • FLOWER
      • INCREASING USAGE OF CANNABIS FOR RECREATIONAL PURPOSES IS EXPECTED TO FUEL THE MARKET GROWTH FOR THESE PRODUCTS
        • Table FLOWER MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • CONCENTRATES
      • A WIDE VARIETY OF DELIVERY METHODS HAVE MADE THE MARKET FOR CANNABIS CONCENTRATES EXTREMELY FAVORABLE AMONGST CONSUMERS
        • Table CONCENTRATES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • OTHERS
      • LARGE NUMBER OF FOOD & BEVERAGE MANUFACTURING COMPANIES VENTURING INTO THE CANNABIS-INFUSED EDIBLES CATEGORY EXPECTED TO DRIVE THE MARKET GROWTH
        • Table OTHERS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • CANNABIS MARKET, BY APPLICATION
    • INTRODUCTION
      • Table CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
    • MEDICAL
      • INCREASING USAGE OF CANNABIS FOR PAIN, NEUROLOGICAL HEALTH, AND MENTAL HEALTH MANAGEMENT IS DRIVING THE MARKET FOR MEDICAL CANNABIS
        • Table MEDICAL CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • RECREATIONAL
      • WIDER LEGALIZATION STATUS OF RECREATIONAL CANNABIS TO SIGNIFICANTLY BOOST MARKET GROWTH
        • Table RECREATIONAL CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • CANNABIS MARKET, BY COMPOUND
    • INTRODUCTION
      • Table CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
    • TETRAHYDROCANNABINOL (THC)-DOMINANT
      • INCREASING LEGALIZATION OF RECREATIONAL CANNABIS COULD HELP PROPEL THE MARKET FOR THC-DOMINANT CANNABIS STRAINS
        • Table THC-DOMINANT CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • CANNABIDIOL (CBD)-DOMINANT
      • USAGE OF CANNABIDIOL FOR MEDICINAL APPLICATIONS IS DRIVING THE MARKET FOR CBD-DOMINANT CANNABIS PRODUCTS
        • Table CBD-DOMINANT CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • BALANCED THC & CBD
      • BALANCED THC & CBD STRAINS PRODUCING EFFECTS, WHICH HELP DIMINISH THE PSYCHOACTIVE PROPERTIES OF THC, ARE EXPECTED TO DRIVE THE MARKET GROWTH
        • Table BALANCED THC & CBD CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • CANNABIS MARKET, BY REGION
    • INTRODUCTION
      • Table CANNABIS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • NORTH AMERICA
      • Table NORTH AMERICA: CANNABIS MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • US
        • Table US: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table US: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table US: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • CANADA
        • Table CANADA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table CANADA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table CANADA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • MEXICO
        • Table MEXICO: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table MEXICO: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table MEXICO: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
    • SOUTH AMERICA
      • Table SOUTH AMERICA: CANNABIS MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • CHILE
        • Table CHILE: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table CHILE: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table CHILE: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • COLOMBIA
        • Table COLOMBIA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table COLOMBIA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table COLOMBIA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • URUGUAY
        • Table URUGUAY: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table URUGUAY: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table URUGUAY: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • REST OF SOUTH AMERICA
        • Table REST OF SOUTH AMERICA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table REST OF SOUTH AMERICA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table REST OF SOUTH AMERICA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
    • EUROPE
      • Table EUROPE: CANNABIS MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table EUROPE: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • Table EUROPE: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • GERMANY
        • Table GERMANY: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table GERMANY: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table GERMANY: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • ITALY
        • Table ITALY: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table ITALY: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table ITALY: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • FRANCE
        • Table FRANCE: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table FRANCE: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table FRANCE: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • THE NETHERLANDS
        • Table THE NETHERLANDS: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table THE NETHERLANDS: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table THE NETHERLANDS: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • REST OF EUROPE
        • Table REST OF EUROPE: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table REST OF EUROPE: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table REST OF EUROPE: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
    • REST OF THE WORLD (ROW)
      • Table ROW: CANNABIS MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table ROW: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016-2023 (USD MILLION)
      • Table ROW: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • Table ROW: CANNABIS MARKET SIZE, BY COMPOUND, 2016-2023 (USD MILLION)
      • ISRAEL
        • Table ISRAEL: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table ISRAEL: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table ISRAEL: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
      • AUSTRALIA
        • Table AUSTRALIA: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2016–2023 (USD MILLION)
        • Table AUSTRALIA: CANNABIS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
        • Table AUSTRALIA: CANNABIS MARKET SIZE, BY COMPOUND, 2016–2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • KEY MARKET STRATEGIES
    • RANKING OF KEY PLAYERS, 2018
    • INVESTMENT OVERVIEW
    • COMPETITIVE SCENARIO
      • AGREEMENTS, COLLABORATIONS, JOINT VENTURES, AND PARTNERSHIPS
        • Table AGREEMENTS, COLLABORATIONS, JOINT VENTURES, AND PARTNERSHIPS, 2013–2018
      • NEW PRODUCT LAUNCHES
        • Table NEW PRODUCT LAUNCHES, 2013–2018
      • EXPANSIONS & INVESTMENTS
        • Table EXPANSIONS & INVESTMENTS, 2013–2018
      • ACQUISITIONS
        • Table ACQUISITIONS, 2013–2018
  • COMPANY PROFILES
    • CANOPY GROWTH CORPORATION
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • AURORA CANNABIS INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • MEDMEN
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • TERRA TECH CORP.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • APHRIA INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • VIVO CANNABIS INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CHRONOS GROUP INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MEDICAL MARIJUANA, INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • STENOCARE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • TIKUN OLAM
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ORGANIGRAMS HOLDING INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CANNABIS SCIENCE INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MARICANN GROUP INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TILRAY INC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • HEXO
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report