Global Cannabis Market
Description
Global Cannabis Market size was valued at USD 42.98 billion in 2023 and is poised to grow from USD 49.18 billion in 2024 to USD 160.87 billion by 2032, growing at a CAGR of 16.1% during the forecast period (2024-2032).
The global cannabis market is driven by factors such as legalization, the rise in medical marijuana availability, and increasing consumer usage patterns. A notable trend is the growing popularity of organic and sustainable farming practices, reflecting consumer concerns about environmental impact. Additionally, cannabis is expanding its footprint in wellness and health sectors, particularly in CBD products, which attract a broader audience beyond traditional users. Market competition is intensifying, pushing brands to innovate and enhance their marketing strategies. The commercialization of cannabis also leads to job creation and tax revenue in regions where it is legalized. While the medical segment is experiencing significant growth fueled by ongoing research into therapeutic benefits, challenges like regulatory instability and international competition persist.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cannabis market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Cannabis Market Segments Analysis
Global Cannabis Market is segmented by Product Type, Component, Usage, Crop Variety, Distribution Channel and region. Based on Product Type, the market is segmented into Buds, Oil, Tinctures and Others. Based on Component, the market is segmented into THC-dominant, Balanced THC and CBD and CBD-dominant. Based on Usage, the market is segmented into Medical and Recreational. Based on Crop Variety, the market is segmented into Cannabis Indica, Cannabis Sativa and Others. Based on Distribution Channel, the market is segmented into Physical, Digital and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Cannabis Market
The rapid expansion of cannabis consumption and cultivation across numerous countries is being propelled by technological advancements aimed at enhancing the production of cannabis-related products. As countries increasingly move towards the legalization of cannabis for medicinal use, innovative technologies are becoming integral to the industry's development. This shift not only fosters the creation of more effective cannabis-based goods but also optimizes cultivation processes, ensuring higher quality and efficiency. The synergy between technology and cannabis is transforming the market landscape, enabling producers to meet the growing demand while adhering to evolving regulatory frameworks and consumer preferences.
Restraints in the Global Cannabis Market
The global cannabis market faces several challenges related to health and safety concerns. Overconsumption can lead to negative long-term effects such as heart arrhythmias and mental health issues, while short-term reactions may include anxiety and panic attacks. When individuals ingest excessive amounts of cannabis, particularly through edibles, they may experience acute adverse effects like cannabis poisoning. The delayed onset of effects associated with these products can increase the likelihood of accidental high-dosage consumption, thereby heightening the risk of overdose incidents. As consumers navigate these risks, ongoing education and awareness are essential in promoting responsible usage.
Market Trends of the Global Cannabis Market
A significant trend in the global cannabis market is the burgeoning popularity of cannabis-infused beverages, driven by a shift in consumer preferences towards healthier and more versatile consumption options. As traditional smoking methods face scrutiny, consumers are increasingly seeking innovative alternatives, prompting major industry players to invest heavily in the development of a diverse array of cannabis-infused drinks. This growing segment not only caters to health-conscious individuals but also enhances social experiences, positioning itself as a mainstream choice among both recreational and wellness-oriented consumers. The expanding product offerings and evolving consumer attitudes reflect a dynamic market poised for continued growth and diversification.
The global cannabis market is driven by factors such as legalization, the rise in medical marijuana availability, and increasing consumer usage patterns. A notable trend is the growing popularity of organic and sustainable farming practices, reflecting consumer concerns about environmental impact. Additionally, cannabis is expanding its footprint in wellness and health sectors, particularly in CBD products, which attract a broader audience beyond traditional users. Market competition is intensifying, pushing brands to innovate and enhance their marketing strategies. The commercialization of cannabis also leads to job creation and tax revenue in regions where it is legalized. While the medical segment is experiencing significant growth fueled by ongoing research into therapeutic benefits, challenges like regulatory instability and international competition persist.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cannabis market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Cannabis Market Segments Analysis
Global Cannabis Market is segmented by Product Type, Component, Usage, Crop Variety, Distribution Channel and region. Based on Product Type, the market is segmented into Buds, Oil, Tinctures and Others. Based on Component, the market is segmented into THC-dominant, Balanced THC and CBD and CBD-dominant. Based on Usage, the market is segmented into Medical and Recreational. Based on Crop Variety, the market is segmented into Cannabis Indica, Cannabis Sativa and Others. Based on Distribution Channel, the market is segmented into Physical, Digital and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Cannabis Market
The rapid expansion of cannabis consumption and cultivation across numerous countries is being propelled by technological advancements aimed at enhancing the production of cannabis-related products. As countries increasingly move towards the legalization of cannabis for medicinal use, innovative technologies are becoming integral to the industry's development. This shift not only fosters the creation of more effective cannabis-based goods but also optimizes cultivation processes, ensuring higher quality and efficiency. The synergy between technology and cannabis is transforming the market landscape, enabling producers to meet the growing demand while adhering to evolving regulatory frameworks and consumer preferences.
Restraints in the Global Cannabis Market
The global cannabis market faces several challenges related to health and safety concerns. Overconsumption can lead to negative long-term effects such as heart arrhythmias and mental health issues, while short-term reactions may include anxiety and panic attacks. When individuals ingest excessive amounts of cannabis, particularly through edibles, they may experience acute adverse effects like cannabis poisoning. The delayed onset of effects associated with these products can increase the likelihood of accidental high-dosage consumption, thereby heightening the risk of overdose incidents. As consumers navigate these risks, ongoing education and awareness are essential in promoting responsible usage.
Market Trends of the Global Cannabis Market
A significant trend in the global cannabis market is the burgeoning popularity of cannabis-infused beverages, driven by a shift in consumer preferences towards healthier and more versatile consumption options. As traditional smoking methods face scrutiny, consumers are increasingly seeking innovative alternatives, prompting major industry players to invest heavily in the development of a diverse array of cannabis-infused drinks. This growing segment not only caters to health-conscious individuals but also enhances social experiences, positioning itself as a mainstream choice among both recreational and wellness-oriented consumers. The expanding product offerings and evolving consumer attitudes reflect a dynamic market poised for continued growth and diversification.
Table of Contents
304 Pages
- 1. Introduction
- 1.1. Objectives of the Study
- 1.2. Scope of the Report
- 1.3. Definitions
- 2. Research Methodology
- 2.1. Information Procurement
- 2.2. Secondary & Primary Data Methods
- 2.3. Market Size Estimation
- 2.4. Market Assumptions & Limitations
- 3. Executive Summary
- 3.1. Global Market Outlook
- 3.2. Supply & Demand Trend Analysis
- 3.3. Segmental Opportunity Analysis
- 4. Market Dynamics & Outlook
- 4.1. Market Overview
- 4.2. Market Size
- 4.3. Market Dynamics
- 4.3.1. Drivers & Opportunities
- 4.3.2. Restraints & Challenges
- 4.4. Porters Analysis
- 4.4.1. Competitive rivalry
- 4.4.2. Threat of substitute
- 4.4.3. Bargaining power of buyers
- 4.4.4. Threat of new entrants
- 4.4.5. Bargaining power of suppliers
- 5. Key Market Insights
- 5.1. Key Success Factors
- 5.2. Degree of Competition
- 5.3. Top Investment Pockets
- 5.4. Market Ecosystem
- 5.5. Market Attractiveness Index, 2024
- 5.6. PESTEL Analysis
- 5.7. Macro-Economic Indicators
- 5.8. Value Chain Analysis
- 5.9. Pricing Analysis
- 5.10. Case Study
- 5.11. Regulatory Analysis
- 6. Global Cannabis Market Size by Product Type & CAGR (2025-2032)
- 6.1. Market Overview
- 6.2. Flowers
- 6.3. Buds
- 6.4. Oil
- 6.5. Concentrates
- 6.6. Edibles
- 6.7. Topicals & Tinctures
- 6.8. Other Product Types
- 7. Global Cannabis Market Size by Compound Type & CAGR (2025-2032)
- 7.1. Market Overview
- 7.2. THC-dominant
- 7.3. Balanced THC and CBD
- 7.4. CBD-dominant
- 8. Global Cannabis Market Size by Application & CAGR (2025-2032)
- 8.1. Market Overview
- 8.2. Medical
- 8.3. Recreational
- 8.4. Other Applications
- 9. Global Cannabis Market Size by Crop Variety & CAGR (2025-2032)
- 9.1. Market Overview
- 9.2. Cannabis Indica
- 9.3. Cannabis Sativa
- 9.4. Other Crop Varieties
- 10. Global Cannabis Market Size & CAGR (2025-2032)
- 10.1. North America (Product Type, Compound Type, Application, Crop Variety)
- 10.1.1. US
- 10.1.2. Canada
- 10.2. Europe (Product Type, Compound Type, Application, Crop Variety)
- 10.2.1. Germany
- 10.2.2. Spain
- 10.2.3. France
- 10.2.4. UK
- 10.2.5. Italy
- 10.2.6. Rest of Europe
- 10.3. Asia Pacific (Product Type, Compound Type, Application, Crop Variety)
- 10.3.1. China
- 10.3.2. India
- 10.3.3. Japan
- 10.3.4. South Korea
- 10.3.5. Rest of Asia-Pacific
- 10.4. Latin America (Product Type, Compound Type, Application, Crop Variety)
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Rest of Latin America
- 10.5. Middle East & Africa (Product Type, Compound Type, Application, Crop Variety)
- 10.5.1. GCC Countries
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Intelligence
- 11.1. Top 5 Player Comparison
- 11.2. Market Positioning of Key Players, 2024
- 11.3. Strategies Adopted by Key Market Players
- 11.4. Recent Developments in the Market
- 11.5. Company Market Share Analysis, 2024
- 11.6. Company Profiles of All Key Players
- 11.6.1. Company Details
- 11.6.2. Product Portfolio Analysis
- 11.6.3. Company"s Segmental Share Analysis
- 11.6.4. Revenue Y-O-Y Comparison (2022-2024)
- 12. Key Company Profiles
- 12.1. Cronos Group
- 12.1.1. Company Overview
- 12.1.2. Business Segment Overview
- 12.1.3. Financial Updates
- 12.1.4. Key Developments
- 12.2. Aurora Cannabis
- 12.2.1. Company Overview
- 12.2.2. Business Segment Overview
- 12.2.3. Financial Updates
- 12.2.4. Key Developments
- 12.3. Ascend Wellness Holdings
- 12.3.1. Company Overview
- 12.3.2. Business Segment Overview
- 12.3.3. Financial Updates
- 12.3.4. Key Developments
- 12.4. High Tide
- 12.4.1. Company Overview
- 12.4.2. Business Segment Overview
- 12.4.3. Financial Updates
- 12.4.4. Key Developments
- 12.5. AYR Wellness
- 12.5.1. Company Overview
- 12.5.2. Business Segment Overview
- 12.5.3. Financial Updates
- 12.5.4. Key Developments
- 12.6. Vivo Cannabis
- 12.6.1. Company Overview
- 12.6.2. Business Segment Overview
- 12.6.3. Financial Updates
- 12.6.4. Key Developments
- 12.7. Canopy Growth Corp.
- 12.7.1. Company Overview
- 12.7.2. Business Segment Overview
- 12.7.3. Financial Updates
- 12.7.4. Key Developments
- 12.8. Jushi Holdings Inc.
- 12.8.1. Company Overview
- 12.8.2. Business Segment Overview
- 12.8.3. Financial Updates
- 12.8.4. Key Developments
- 12.9. Columbia Care Inc. (The Cannabist Company)
- 12.9.1. Company Overview
- 12.9.2. Business Segment Overview
- 12.9.3. Financial Updates
- 12.9.4. Key Developments
- 12.10. Planet 13 Holdings Inc.
- 12.10.1. Company Overview
- 12.10.2. Business Segment Overview
- 12.10.3. Financial Updates
- 12.10.4. Key Developments
- 12.11. Curaleaf Holdings
- 12.11.1. Company Overview
- 12.11.2. Business Segment Overview
- 12.11.3. Financial Updates
- 12.11.4. Key Developments
- 12.12. Trulieve Cannabis
- 12.12.1. Company Overview
- 12.12.2. Business Segment Overview
- 12.12.3. Financial Updates
- 12.12.4. Key Developments
- 12.13. Green Thumb Industries
- 12.13.1. Company Overview
- 12.13.2. Business Segment Overview
- 12.13.3. Financial Updates
- 12.13.4. Key Developments
- 12.14. Verano Holdings
- 12.14.1. Company Overview
- 12.14.2. Business Segment Overview
- 12.14.3. Financial Updates
- 12.14.4. Key Developments
- 12.15. Tilray Brands Inc.
- 12.15.1. Company Overview
- 12.15.2. Business Segment Overview
- 12.15.3. Financial Updates
- 12.15.4. Key Developments
- 12.16. Cresco Labs Inc.
- 12.16.1. Company Overview
- 12.16.2. Business Segment Overview
- 12.16.3. Financial Updates
- 12.16.4. Key Developments
- 12.17. Sundial Growers Inc.
- 12.17.1. Company Overview
- 12.17.2. Business Segment Overview
- 12.17.3. Financial Updates
- 12.17.4. Key Developments
- 12.18. Terrascend Corp.
- 12.18.1. Company Overview
- 12.18.2. Business Segment Overview
- 12.18.3. Financial Updates
- 12.18.4. Key Developments
- 12.19. Ianthus Capital Holdings Inc.
- 12.19.1. Company Overview
- 12.19.2. Business Segment Overview
- 12.19.3. Financial Updates
- 12.19.4. Key Developments
- 12.20. Glass House Brands Inc.
- 12.20.1. Company Overview
- 12.20.2. Business Segment Overview
- 12.20.3. Financial Updates
- 12.20.4. Key Developments
- 13. Conclusion & Recommendations
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