Global Cannabinoids Industry Trends: Where the Market Is Headed by 2029

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How Much Larger Is The Cannabinoids Market Expected To Become By 2029 Compared With Its 2025 Level?

The cannabinoids market has experienced rapid expansion in recent years. It is anticipated to grow from $39.45 billion in 2024 to $47.03 billion in 2025, achieving a compound annual growth rate (CAGR) of 19.2%. The growth observed in the past can be credited to medical cannabis legalization, increasing acceptance of cannabis, ongoing research and development, shifts in regulations, growing awareness of the benefits of cannabinoids, investments flowing into the cannabis industry, and evolving consumer trends favoring natural products.

The cannabinoids market is projected to undergo significant growth in the upcoming years, with its size expected to reach $99.82 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 20.7%. This expansion during the forecast period is attributed to factors such as widespread legalization and decriminalization, continuous advancements in research, an increasing variety of product offerings, the broadening scope of international markets, and various public health awareness programs. Key developments anticipated in this period include greater public acceptance and destigmatization, a further diversification of product selections, innovations in delivery methods, the establishment of robust quality and safety standards, and various social equity and inclusivity initiatives.

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Which Factors And Drivers Are Influencing The Cannabinoids Market In 2025?

The increasing incidence of chronic diseases is anticipated to boost the cannabinoid market. These conditions are defined as illnesses lasting a year or more and requiring continuous medical attention. A systematic review of randomized controlled trials examined the effectiveness of various cannabinoids, including smoked marijuana, oromucosal extracts of cannabis-based medication, nabilone, dronabinol, and a new THC analogue, in the treatment of chronic noncancer pain. For instance, in September 2023, the World Health Organization, a Switzerland-based specialized agency of the United Nations, reported 41 million annual global deaths, representing 74% of those caused by non-communicable diseases (NCDs) or chronic diseases. Consequently, the rising prevalence of chronic diseases is driving the growth of the cannabinoid market.

What Are The Emerging Segments Gaining Attention In The Cannabinoids Market?

The cannabinoidsmarket covered in this report is segmented –

1) By Product Type: Cannabidiol; Tetrahydrocannabinol; Cannabinol; Other Product Types

2) By Distribution: Hospital Pharmacies; Retail Pharmacies; Online Stores

3) By Application: Medical; Recreational; Industrial Hemp

Subsegments:

1) By Cannabidiol (CBD): Full-Spectrum CBD; Broad-Spectrum CBD; CBD Isolate

2) By Tetrahydrocannabinol (THC): Delta-9 THC; Delta-8 THC

3) By Cannabinol (CBN): CBN Isolate; CBN Oil

4) By Other Product Types: Cannabigerol (CBG); Cannabichromene (CBC); Terpenes And Other Phytocannabinoids

Which Market Trends Are Creating New Opportunities In The Cannabinoids Industry?

Leading companies in the cannabinoids market are concentrating on introducing advanced cannabis-derived cosmetic solutions, such as CBG and CBD rescue cream, to secure a competitive advantage. Cannabis-based cosmetic solutions are products in the cosmetic industry that incorporate cannabis or its derivatives, like CBD or CBG, as an active ingredient. These items serve various purposes in the cosmetic sector, including skin moisturizing, anti-aging, and anti-inflammatory effects. For example, British Cannabis, a UK-based producer of cannabis, unveiled its Synergy CBG and CBD Rescue Cream in November 2022. This product is notable as the UK’s first cannabis cosmetic to undergo clinical trials, and its formula is further improved by the inclusion of an additional active ingredient, CBG. Containing two natural, legal cannabis plant extracts, cannabidiol (CBD) and cannabigerol (CBG), Synergy CBD Rescue Cream is a mild, natural cream that is considered among the most comprehensive skincare products available in the market.

Who Are The Top Performing Companies In The Cannabinoids Market In Recent Years?

Major companies operating in the cannabinoids market are The Supreme Cannabis Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., Aurora Cannabis Inc., Innovative Ind Props, Curaleaf Holdings Inc., Green Thumb Industries, Verano Holdings, Trulieve Cannabis Corp., Cresco Labs Inc., Cronos Group, TerrAscend Corp., Canopy Growth Corp., Sundial Growers Inc., Decibel Cannabis Company, Auxly Cannabis Group, Red White & Bloom Brands, BZAM Ltd, Delta 9 Cannabis Inc., Mylan N.V., Westleaf Cannabis Inc., GrowGeneration, The Scotts Miracle-Gro Company, Jazz Pharmaceuticals PLC, Aphria Inc., Organigram Inc., Alkem labs, MediPharm Labs Corp., The Valens GroWorks Inc.

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How Is Cannabinoids Market Demand Varying Across Different Regions?

North America was the largest region in the cannabinoids market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabinoids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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