Product ID: SQMIG35I2060
Global Cannabis Market Size, Share, Growth Analysis, By Application(Medical, recreational), By Product Type(Concentrates, Flower), By Compound(THC-dominant, CBD-dominant) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2060 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
88 |
Figures:
76
Global Cannabis Market Regional Insights
Currently, North America is dominating the global cannabis market. The region is the largest consumer of cannabis for a variety of reasons. The legalization of cannabis in most states of the US has created a strong presence of providers, and the huge demand from consumers in the US and Canada has made North America the largest market for cannabis. In addition, the climate in North America is conducive to growing cannabis, and there is a large amount of land available for cultivation.
North America is the largest consumer in the global cannabis market due to legalization in most of the states, strong presence of providers, and huge demand from consumers in the US and Canada. The United States is the world's largest producer and consumer of legal marijuana. Canada is the eights largest producer and consumer globally. There are an estimated 25 million regular users in North America.
The majority of cannabis users in North America are between the ages of 18-39. The gender split is almost even, with slightly more men than women using cannabis. Caucasians make up the largest demographic group at around 55%, followed by Hispanics at 20%. African Americans make up around 15% of cannabis users in North America.
Cannabis use has been increasing steadily over the past few decades in North America cannabis market. The reasons for this increase are largely unknown, but some possible explanations include increased social acceptability, better availability, and improved strains/products. Cannabis use disorder (CUD) is a growing concern in North America as well, with an estimated 3-6% of users meeting diagnostic criteria for CUD.
Global Cannabis Market Report Snapshots
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