Cannabis Market Size

Global Cannabis Market size was valued at USD 42.6 billion in 2023 and is poised to grow from USD 49.8 billion in 2024 to USD 173.68 billion by 2032, growing at a CAGR of 16.9% during the forecast period (2025-2032).

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.