The global cannabis market was valued at US$ 13.43 Billion in 2022, and is projected to reach US$ 66.35 Billion by 2030, growing at a CAGR of 22.1% from 2023 to 2030. The report also predicts that the market will reach USD 73.6 billion by 2027.

The global cannabis market has been growing rapidly in recent years, driven by increasing legalization and decriminalization of cannabis in many parts of the world. The market includes both medical and recreational cannabis products, and is expected to continue growing as more countries legalize cannabis.

Browse 218 market data Tables and 98 Figures spread through 317 Pages and in-depth TOC on "Cannabis Market Size, Share & Trends Estimation Report By Outlook, By Region, And Segment Forecasts, 2022 - 2030" View detailed Table of Content here-https://www.contrivedatuminsights.com/product-report/cannabis-market-248604/

The legalization and decriminalization of cannabis in many countries has been a major factor in the growth of the cannabis market. As more countries legalize cannabis, it becomes more accessible to consumers and businesses. Medical cannabis has become increasingly accepted as a treatment for a wide range of conditions, including chronic pain, anxiety, and epilepsy. As more research is conducted on the medical benefits of cannabis, demand for medical cannabis products is expected to grow.

Market Dynamics

There has been a shift in consumer attitudes towards cannabis in recent years, with more people becoming accepting of its use for both medical and recreational purposes. This has created a larger market for cannabis products.

The regulatory and legal barriers to entry in the cannabis industry can be significant, with many countries still prohibiting or heavily regulating the use of cannabis. This can limit the growth potential of the industry in certain regions. There is currently a lack of standardization in the cannabis industry, which can make it difficult for businesses to scale up production and ensure consistent quality across products.

Due to the federal status of cannabis as a controlled substance in the United States, many financial institutions are reluctant to provide banking and financial services to cannabis businesses. This can limit their ability to grow and expand.

Cannabis products come in different forms including CBD oil, tinctures, edibles, topicals, and more. This offers a variety of investment opportunities for businesses, allowing them to choose the sector that best suits their expertise. With more research into the medical applications of cannabis, there is an opportunity for companies to produce cannabis-based products that cater to the health and wellness industry. This includes products such as cannabis-based dietary supplements, which could be a high growth area in the future.

CBD is a non-psychoactive cannabinoid found in cannabis and hemp plants that is used for a variety of therapeutic and wellness applications. THC is the primary psychoactive component of cannabis, responsible for the "high" associated with marijuana use. It is used for both medical and recreational purposes. Others includes other cannabinoids, such as cannabigerol (CBG), cannabinol (CBN), and cannabichromene (CBC), as well as terpenes and flavonoids, which are non-cannabinoid compounds found in cannabis.

The end-use outlook is important as it reflects the different consumer needs and preferences for cannabis products. Medical cannabis has a well-established market and is expected to continue to grow as more research is conducted. The legalization of recreational cannabis in some areas has opened up a new market for adult consumers. Industrial uses for cannabis are still in the early stages of development but have the potential to create new markets and applications for the industry.

Regional Analysis

The European market for legal cannabis is still developing, with some countries legalizing medical cannabis and a few allowing for recreational use. The market is expected to grow as more countries legalize cannabis and the regulatory framework becomes clearer.

The Asia Pacific region has a large potential market for cannabis due to its large population and growing interest in alternative medicine. However, the regulatory environment for cannabis is still restrictive in many countries.

Several countries in Latin America have legalized medical cannabis, and some are exploring the possibility of legalizing recreational use. The region has the potential to become a significant player in the global cannabis market.

Competitive Analysis

Canopy Growth is a Canadian company that is one of the largest producers of cannabis products in the world. They produce a range of products, including flower, oils, and edibles, and have a presence in multiple countries. Aurora is a Canadian company that produces a variety of cannabis products for both the medical and recreational markets. They have operations in multiple countries, including Canada, Germany, and Australia.

In May 2021, Canadian cannabis companies Tilray and Aphria completed their merger, creating the world's largest cannabis company by revenue. The merged entity, called Tilray, has a market value of around $8.2 billion. In 2019, Canadian cannabis company Canopy Growth announced a $3.4 billion deal to acquire Acreage Holdings, a US-based cannabis company. The deal was structured in a way that Canopy could only complete the acquisition if cannabis became federally legal in the US.

In December 2018, tobacco giant Altria invested $1.8 billion in Cronos Group, a Canadian cannabis company. This investment gave Altria a 45% stake in Cronos and gave Cronos the financial resources to expand its operations. In November 2020, Merida Capital Partners, a cannabis-focused private equity firm, announced its merger with Green Peak Innovations, a Michigan-based cannabis company. The merger created a vertically integrated cannabis company with operations in multiple US states.

In March 2021, Canopy Rivers, the investment arm of Canopy Growth, announced its merger with TerrAscend, a US-based cannabis company. The deal gave Canopy Rivers a 22% stake in TerrAscend and allowed the company to expand its operations in the US.

Segmentation Analysis of The Global Cannabis Market 2016-2030

The report forecasts revenue growth at global, regional, and country matrics and analyzes the latest industry trends in each of the sub-segments ranging from 2016-2030. For this, CDI has segmented the global cannabis market report based on capacity, vehicle, application, and propulsion type along with regional analysis. 

Source Outlook (Revenue, USD Million, 2016 - 2030)

• Marijuana
• Flowers
• Oil and Tinctures
• Hemp
• Hemp CBD
• Supplements
• Industrial Hemp

Derivative Outlook (Revenue, USD Million, 2016 - 2030)

• CBD
• THC
• Others

End-use Outlook (Revenue, USD Million, 2016 - 2030)

• Medical Use
• Cancer
• Chronic Pain

Depression and Anxiety

• Arthritis
• Diabetes
• Glaucoma
• Migraines
• Epilepsy
• Multiple Sclerosis
• AIDS
• Amyotrophic Lateral Sclerosis
• Alzheimer’s
• Post-Traumatic Stress Disorder (PTSD)
• Parkinson's
• Tourette’s
• Recreational Use
• Industrial Use

Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America