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- Worldwide
- Revenue in the Cannabis market worldwide is forecasted to reach US$64.73bn in 2024.
- The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.01%, leading to a market volume of US$75.09bn by 2029.
- When compared globally, the United States is expected to generate the highest revenue (US$42.98bn in 2024).
- In terms of total population figures, per person revenues of US$179.40 are generated in 2024.
- In the worldwide Cannabis market, the United States continues to lead in innovation and investment, shaping global trends in Cannabis legalization and product development.
Key regions: United States, Canada, Netherlands, Germany, Thailand
Definition:
The Cannabis market covers products derived from the cannabis plant used for medical or recreational purposes. These products may include dried flowers, oils, edibles, tinctures, and topicals. Depending on the regulations in each country or state, these products are provided by dispensaries, pharmacies, and/or online platforms. They may be consumed in the form of smoking, vaporizing, eating, or applying topically.
Structure:
The market includes Medical, Pharmaceutical, and Recreational Cannabis as well as CBD Products. The Medical and Pharmaceutical Cannabis markets include products used to treat conditions such as chronic pain, mental disorders, and other medical conditions. The Recreational Cannabis and the the CBD Products markets include products used for personal enjoyment or leisure purposes. All cannabis markets include various forms of cannabis such as flowers, concentrates, edibles, and topicals.
Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).
Company examples: Canopy Growth Corporation, Aurora Cannabis, Curaleaf Holdings, Tilray, Green Thumb Industries, Trulieve Cannabis, Verano Holdings.
in-scope
- Recreational Cannabis
- Medical Cannabis
- Pharmaceutical Cannabis
- CBD Products
out-of-scope
- Illegal cannabis
- Cannabis cultivated for private use
Cannabis
- Recreational Cannabis
- Medical Cannabis
- CBD Products
- Pharmaceutical Cannabis
Related markets:
Medical Technology
OTC Pharmaceuticals
Digital Health
Pharmaceuticals
Hospitals
Mental Health
Pharmacies
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Market
Region
Region comparison
Currency
Analyst Opinion
The global Cannabis market is experiencing significant growth and evolution, driven by changing customer preferences, emerging trends, local special circ*mstances, and underlying macroeconomic factors. Customer preferences: Trends in the market: Local special circ*mstances: Underlying macroeconomic factors:
Methodology
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.
Modeling approach / Market size:
Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.
Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.
Overview
- Revenue
- Users
- Analyst Opinion
- Global Comparison
- Methodology
- Key Market Indicators
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