Cannabis Market
Report ID: SQMIG35I2060
Report ID: SQMIG35I2060
sales@skyquestt.com
USA +1 351-333-4748
Report ID:
SQMIG35I2060 |
Region:
Global |
Published Date: May, 2025
Pages:
188
|Tables:
120
|Figures:
77
Global Cannabis Market size was valued at USD 49.18 Billion in 2024 and is poised to grow from USD 57.1 Billion in 2025 to USD 188.49 Billion by 2033, growing at a CAGR of 16.1% during the forecast period (2026–2033).
The primary drivers boosting the global cannabis market growth are the legalization, availability of medical marijuana as well as an increase in the use of cannabis by consumers. An important trend being observed worldwide is the increase of organic and sustainable farming practices’ popularity worldwide because of consumers’ attention on environmental issues. Cannabis is finding applications in wellness and health products, including CBD-related products. They have a broader market appeal than pure stoners.
Competition in the market has also increased, which has increased the pressure on markets to introduce new products and do better branding. Economically, the commercialization of cannabis has helped provide employment opportunities and tax revenues, in areas where the use of cannabis products has been legalized. The medical cannabis segment is especially seeing growth due to continued research and clinical trials to support the fact that it offers solutions for conditions such as chronic pain, epilepsy, and multiple sclerosis. Thus, the market is growing rapidly in the coming years due to liberalization of the regulatory environment, technological advancements, and increasing product acceptance, although the market faces several challenges such as unstable regulations and competition in the international market.
How is Nanoemulsion technology bringing Transformation to the Market?
Nanoemulsion technology is transforming the market dynamics. This method breaks down cannabinoids into tiny particles which are water compatible. This allows for faster onset and greater bioavailability. A notable advancement related to this technology is Organigram’s FAST (Fast Acting Soluble Technology) which was launched in 2023 through its Edison Sonics gummies. This was clinically validated in January 2024. FAST provides up to ~50% faster effects and nearly doubles the rate of absorption of cannabinoid at peak effect compared to conventional edibles. This innovation has helped in making nanoemulsions the future of cannabis product development.
To get more insights on this market click here to Request a Free Sample Report
The 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 cannabis market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per categorization by component, the market is classified as THC-dominant, balanced THC & CBD and CBD-dominant. Among these, Balanced THC & CBD earned the largest share in 2024 and continues to dominate the market. Products that contain an equal ratio of THC to CBD are transforming the global cannabis market by providing users with an easy-to-handle mixture of healing and soothing effects. With regard to their numerous applications, this weighing scale satisfies diverse customer wants like alleviating tension without causing a heavy high or curing some specific diseases. Consequently, it has achieved global recognition and is presently changing the course of the market.
CBD-dominant products are expected to drive the expansion of the global cannabis market due to their wide range of therapeutic applications that don't involve psychoactive effects. This trend is being accelerated by growing consumer desire for natural wellness solutions and legislative changes that support non-euphoric cannabis products, placing CBD as a major growth driver.
As per the 2024 global cannabis market analysis, the recreational sub segment led the market by holding the largest share. Innovations in recreational cannabis are revolutionizing the global industry by improving user experiences with a variety of products like edibles, vape pens, and concentrates. Its dominance is a result of growing legalization and consumer acceptability, which has increased demand for high-quality, diverse recreational options. Because it appeals to both novice and experienced users, the market is seeing a steady growth rate.
The industry for medicinal cannabis is expected to grow quickly due to the growing body of research demonstrating its therapeutic effects, the rising acceptance of the drug by patients, and the changing laws. The medical cannabis market is expanding at the quickest rate in the world due to its ability to cure chronic diseases and provide alternative treatments.
To get detailed segments analysis, Request a Free Sample Report
The North America cannabis market emerges as the most dominant cannabis market in the world. The region’s importance is due to its regulations and suitable infrastructure. The principal actors here are represented by two countries: The USA and Canada. Nowadays, there has been a significant increase in consumption patterns as well as overall business expansion in the USA following legalization on state level for both health purposes and leisure use exclusively. Because the nationwide law in Canada has established a regime for processing and regulatory procedures, North America is outperforming other regions by using modern technologies that can produce, process and distribute cannabis. This not only strengthens cannabis market share but also contributes to its growth while positioning it to have a leading role in the global economy.
U.S. Cannabis Market
In North America, U.S. leads the cannabis market especially due to the fact that cannabis has been legalized across states. Cannabis is still prohibited at the federal level. But many states have legalized adult-use of cannabis, creating a multi-billion-dollar industry. Thus, products are seeing innovations in product formats, expansion of dispensary networks, and inflow of investment. Regulatory challenges remain, but market maturity, consumer demand, and policy momentum position the U.S. as a global cannabis industry leader. In June 2024, The Cannabist Company and Bloom partnered together and launched Bloom's vape products in New Jersey and Virginia. This was Bloom’s entry into its 6th and 7th U.S. markets. The thought behind this alliance is to deliver a superior vaping experience and expand both the companies’ footprint in the East Coast cannabis market.
Canada Cannabis Market
Canada in North America is just behind the U.S. The country’s cannabis market’s growth is due to a properly regulated cannabis market since 2018 when it became the first G7 nation to fully legalize cannabis. Many companies are headquartered here such as Canopy Growth Corporation, Aurora Cannabis Inc., and many more. In March 2024, Glow LifeTech had launched four new cannabis products at the Ontario Cannabis Store under its MOD and .decimal brands. This is its largest product shipment to date.
Europe is predicted to grow at the highest rate in the cannabis market over the projection period of 2025-2032. The growth in the region is led by the increased acceptance of medical cannabis and changes to regulations that are kept making them more lenient. In nations such as Germany, Netherlands and UK, there have been recent legalization initiatives which have created possibilities for market growth as well as stimulated extensive research and investments. The European Union is increasingly supporting medical cannabis to gain market traction and ensure product quality among its member states through uniform regulations. Alongside this, an innovation and clinical trial climate are reinvigorating Europe's growing interest in cannabis as an ailment remedy positioning the continent for rapid uptake in global trade.
Germany Cannabis Market
The German cannabis market expansion can be credited to various reasons. This expansion can be contributed to a changing market landscape that has seen recent legalization of cannabis. Cannabis was legalized for medical use in Germany in 2017. This has been allowing physician-prescribed cannabis usage among the public and has led to the market’s growth. In 2024, Germany made it legal for adults above 18 to carry upto 25 grams of cannabis in public and have upto 50 grams of dried cannabis at home. This legalization of possession of cannabis is getting the industry’s confidence. Tilray has expanded its medical cannabis extract portfolio in Germany in February 2025. It has launched new high-potency and trial-size formulations to meet the patient and physician demand for balanced THC and CBD products.
UK Cannabis Market
UK’s market growth is spurred by its legalization of medical cannabis use. The country had legalized medical cannabis in 2018, but this is under strict prescription guidelines. Access still remains limited. Private clinics are nowadays offering cannabis-based treatments. This makes its medical cannabis industry quite a sizeable one. UK is also Europe’s largest producer and exporter of legal cannabis for medical and scientific use. Aurora Cannabis launch of its first inhalable cannabis resin cartridges in the UK in April 2025 is a significant stride. It is a high-potency, cultivar-specific product for convenient, fast-acting medical use.
Asia Pacific held a significant market share in 2024 and is likely to continue so during the forecast period of 2025-2032. The region is currently witnessing a shift in regulations in favor of medical cannabis usage. Many countries in the region like Thailand, Australia, and South Korea have made cannabis for medicinal use legal. The community is also becoming aware of cannabis’ therapeutic benefits. Therefore, investment in R&D has increased and patient access to medical cannabis is driving growth.
South Korea Cannabis Market
South Korea acquires a considerable chunk of the Asia Pacific market for cannabis. It was the first East Asian country to legalize medical cannabis in 2018. The legal framework allows access of South Koreans to cannabis-based pharmaceuticals in a tightly regulated way. The government also extends supports to medical cannabis research and imports. Due to this a nascent but formalized market in South Korea is slowly taking shape. All of these play impacting roles in the market and contribute to the demand for cannabis.
India Cannabis Market
India’s cannabis market is expanding at a slow pace. The country has historical and cultural ties to cannabis, yet its legal framework is restrictive. Medical and recreational cannabis remains largely illegal. Bhang (made from cannabis leaves) is legally sold in some states. The use of cannabis in Ayurvedic formulations is slowly being advocated leading to the formation of nascent stages of the market. This makes the potential for India's cannabis high but underdeveloped due to regulatory uncertainty.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
An Increase in Technological Innovation and R&D Activity
Edibles with Cannabis Infusions have Higher Prospects for Market Expansion
Issues related to Excessive Cannabis Dosage Usage
High Water Requirement for Growing Cannabis
Request Free Customization of this report to help us to meet your business objectives.
There are many different multinational corporations vying for market share in the fiercely competitive global cannabis market. The most well-known companies include Canopy Growth Corporation,Tilray, Aurora Cannabis, and Canopy Growth Corporation due to the innovative strategies they adopt in different sectors. There has been a great deal of progress in medical cannabis made by GW Pharmaceuticals and Curaleaf among others. The competitive atmosphere is propelled through product development and cultivation innovations as well as strategic partnerships and ongoing research.
Emerging Trends Shaping the Future of Cannabis
Surge in Demand for Cannabis-Infused Beverages
Expansion of Medical Cannabis Programs
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the international cannabis market is experiencing fluctuating growth, resulting from changing consumer tastes, growing legalization as well as mass investments in research and development. Cannabis has transformed from being an ancient form of medicine into a contemporary mode of treatment for diverse ailments such as persistent pain and psychological disorders. pain. Good prospects can be seen on the market, with continuous advancements in drugs that are based on cannabis, growing legal frameworks and increasing acceptability among consumers. This kind of growth is particularly visible in North America and Europe where rapid growth is being driven by market demands and changing regulations. The potential diversity of the market is also underscored by its division according to chemicals, purpose or region.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 49.18 Billion |
| Market size value in 2033 | USD 188.49 Billion |
| Growth Rate | 16.1% |
| Base year | 2024 |
| Forecast period | 2026–2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Cannabis Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cannabis Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cannabis Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cannabis Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
REQUEST FOR SAMPLE
REQUEST FREE CUSTOMIZATION
Global Cannabis Market size was valued at USD 49.18 Billion in 2024 and is poised to grow from USD 57.1 Billion in 2025 to USD 188.49 Billion by 2033, growing at a CAGR of 16.1% during the forecast period (2026–2033).
Tilray Brands Inc. (Canada), Cronos Group Inc. (Canada), Canopy Growth Corporation (Canada), Sundial Growers Inc. (Canada), Aurora Cannabis Inc. (Canada), Green Thumb Industries Inc. (United States), Trulieve Cannabis Corp. (United States), Curaleaf Holdings Inc. (United States), Verano Holdings Corp. (United States), Cresco Labs Inc. (United States), Ayr Wellness Inc. (United States), TerrAscend Corp. (Canada), Jushi Holdings Inc. (United States), Columbia Care Inc. (United States), Planet 13 Holdings Inc. (United States), iAnthus Capital Holdings Inc. (United States)
The key driver of the cannabis market is growing legalization for medical and recreational use, which increases consumer acceptance, expands patient access, encourages investment, and boosts demand across healthcare, wellness, and consumer product industries worldwide.
A key market trend in the cannabis industry is the rapid expansion of legal recreational and medical markets globally, coupled with innovation in product formats like edibles, vapes, and wellness extracts that attract diverse consumer segments and boost overall market growth.
North America accounted for the largest share in the cannabis market, driven by widespread medical and recreational legalization, strong consumer demand, well-developed distribution channels, significant investment, and advanced research efforts that have accelerated product innovation and market expansion across the United States and Canada.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
USA (+1) 351-333-4748
