Global Cannabis Capsule Market Size

5 Key Insights On The Cannabis Capsule Market 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cannabis Capsule Global Market Report 2024, the cannabis capsule market is expected to show significant growth in the forecast period.

The cannabis capsule market has experienced exponential growth in recent years, driven by advancements in research and development, increased medical requirements, and expanding legalization efforts. From $31.96 billion in 2023, the market is expected to reach $38.75 billion in 2024, growing at a compound annual growth rate (CAGR) of 21.3%.

Rapid Growth Expected Through 2028
The market is projected to continue its rapid expansion, reaching $79.20 billion by 2028, with a CAGR of 19.6%. This growth is fueled by increasing neurological disorders, broader legalization, and evolving consumer preferences. Key trends in this period include:

  • Product Innovations: Companies are focusing on developing new formulations and delivery methods.
  • Strategic Partnerships: Collaborations to enhance distribution channels and market reach.
  • Technological Advancements: Utilizing advanced extraction and formulation technologies.

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Major Drivers: Addressing Neurological Disorders
The rising prevalence of neurological disorders, such as Alzheimer’s disease, is a significant driver for the cannabis capsule market. Compounds like cannabidiol (CBD) have shown potential benefits in preventing social recognition memory deficits associated with Alzheimer’s disease. The increase in neurological disorders, expected to nearly triple to 14 million Americans by 2060, is a crucial factor propelling market growth.

Key Players Driving Innovation
Leading companies in the cannabis capsule market include GW Pharmaceuticals PLC, Trulieve Cannabis Corp., and Green Thumb Industries Inc. These players are at the forefront of product development and market expansion efforts.

Increasing Focus On Chronic Pain Relief
Companies are increasingly focusing on innovative solutions tailored for chronic pain relief. For example, Holistic Industries launched CANNACEUTICA, the first oral cannabis capsule specifically formulated and studied for chronic pain management. This product aims to provide an alternative to opioids with clear dosing guidelines.

KD Pharma Group’s Strategic Expansion
The acquisition of Trigal Pharma by KD Pharma Group highlights strategic expansions in cannabinoid leadership. This move is expected to accelerate growth and innovation in the cannabis capsule segment, leveraging Trigal’s expertise in CBD capsules.

Market Segmentation
The cannabis capsule market is segmented based on type, compound, and end-user:

  1. By Type: High Tetrahydrocannabinol Capsules, Tetrahydrocannabinol Or Cannabinol Balance Capsule, High Cannabinol Capsules
  2. By Compound: Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant
  3. By End User: Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales

Regional Insights: Dominance of North America
In 2023, North America emerged as the largest region in the cannabis capsule market, driven by progressive legalization measures and increasing consumer acceptance of medical cannabis products.

The cannabis capsule market is poised for significant growth driven by increasing medical applications, legalization trends, and innovations in product development. With a robust CAGR projected through 2028 and major players driving advancements, the market is set to expand its footprint globally, addressing diverse medical needs and consumer preferences.

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