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What Is the Forecast for the Cannabinoids Market from 2024 to 2025?

In the last few years, the size of the cannabinoids market has increased significantly. It is predicted to climb from $39.45 billion in 2024 up to $47.43 billion in 2025, representing a compound annual growth rate (CAGR) of 20.2%. This historic surge in growth can be traced back to several factors: the legalization of medical cannabis, the heightened acceptance of cannabis, research and development initiatives, legislative adjustments, expanding understanding of the advantages of cannabinoids, investments into the cannabis sector, and a consumer inclination towards natural products.

What Is the Projected Market Size of the Cannabinoids Market?

Projected to witness sizable expansion in the coming years, the cannabinoids market is anticipated to rise to a worth of $101.9 billion by 2029, boasting a compound annual growth rate (CAGR) of 21.1%. This rise throughout the forecast period can be linked to the widespread legalization and decriminalization, advancements in research, variety in product offerings, expansion of the international market, and public health awareness drives. The upcoming trend landscape is likely to be shaped by factors such as growing acceptance and removal of societal stigmas, broadening range of products, advancements in delivery methodologies, and an emphasis on maintaining quality and safety benchmarks, along with a push for social fairness and inclusivity initiatives.

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Who are the Major Competitors in the Cannabinoids Market Outlook?

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.

What Is Fueling Growth in the Cannabinoids Market?

The cannabinoid market is expected to be driven by the increasing occurrence of chronic diseases. These diseases, which require continuous medical care and persist for a year or more, have been shown to respond to cannabinoids. The efficacy of these substances, including smoked marijuana, cannabis-based treatments, nabilone, dronabinol, and a novel THC analogue, has been explored extensively in dealing with chronic noncancerous pain, as shown by a systematic investigation of randomized controlled studies. For instance, the World Health Organization, a Switzerland-based UN subsidiary, reported in September 2023 that there were 41 million deaths annually, comprising 74% of global deaths attributed to non-communicable diseases, or chronic diseases. Therefore, the increasing incidence of chronic diseases is significantly impacting the expansion of the cannabinoid market.

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Which Cannabinoids Market Segments Are Growing the Fastest?

The cannabinoids market 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 Industry Trends Are Shaping the Future of the Cannabinoids Market?

Leading corporations in the cannabinoids industry are strategically launching innovative cannabis-infused beauty products, including CBD and CBG rescue cream, aiming to earn a competitive advantage. Cannabis-infused beauty products facilitate the incorporation of cannabis or its byproducts, namely CBD or CBG, working as the key ingredients. These products find utility in the cosmetics sector for numerous functions like moisturizing the skin, anti-aging, and suppressing inflammation. In a case to illustrate, British Cannabis, a UK-established cannabis producer, debuted the Synergy CBG and CBD Rescue Cream in November 2022. This product marks the first-ever cannabis-based cosmetic from the UK to undergo clinical trials, now augmented with an additional active ingredient, CBG. Coupling two legal cannabis plant extracts, cannabidiol (CBD), and cannabigerol (CBG), the cream offers a soft, natural solution, ranking as one of the most all-inclusive skincare products available in the market.

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Which Countries Are Leading the Cannabinoids Market?

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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This Report Delivers Insight On:

1. How big is the cannabinoids market, and how is it changing globally?

2. Who are the major companies in the cannabinoids market, and how are they performing?

3. What are the key opportunities and risks in the cannabinoids market right now?

4. Which products or customer segments are growing the most in the cannabinoids market?

5. What factors are helping or slowing down the growth of the cannabinoids market?

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