What Factors Propelled The Growth Of The Cannabinoids Market In The Past?
The cannabinoids market has seen considerable growth due to a variety of factors.
• The size of the cannabinoids market has witnessed a significant expansion lately. It is projected to escalate from $39.45 billion in 2024 to $47.43 billion in 2025, with a compound annual growth rate (CAGR) of 20.2%. The remarkable growth experienced during the historic period can be accredited to factors like the legalization of medical cannabis, growing recognition and acceptance of cannabis, advances in research and development, alterations in regulation, heightened awareness of the benefits of cannabinoids, investments made in the cannabis industry, and a consumer shift towards natural products.
What Is the Forecasted Market Size and Growth Rate for The Cannabinoids Template Market?
The Cannabinoids market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, we can anticipate an exponential escalation in the cannabinoids market size, projected to reach $101.9 billion in 2029 with a compound annual growth rate (CAGR) of 21.1%.
The expected growth during the forecast period can be linked to numerous factors such as further legalization and decriminalization, advanced research, wide-ranging product availability, global market growth, and public health advocacy efforts. The forecast period will also see major trends such as growing acceptance and reduction of stigmatization, enhancement of product variety, innovations in product delivery, high quality and safety standards, as well as initiatives focusing on social equality and inclusivity.
What Factors Are Driving Growth In The Cannabinoids Market?
The escalating incidence of chronic conditions is projected to spur the growth of the cannabinoid market. Chronic conditions are those that persist for a year or more and necessitate continuous medical care. The utility of cannabinoids, including smoked marijuana, orally administered cannabis extract medications, nabilone, dronabinol, and a recent THC analogue in managing enduring noncancer pain was thoroughly evaluated in a series of randomized controlled trials. For instance, data from the World Health Organization in September 2023 - a Switzerland-based specialized UN agency - confirmed 41 million deaths, amounting to 74% of deaths resulting from non-communicable diseases (NCDs) or chronic illnesses worldwide each year. Consequently, the heightened incidence of chronic conditions is fostering the expansion of the cannabinoid market.
What Are The Main Segments Of The Global Cannabinoids Market?
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
Pre-Book The Cannabinoids Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Cannabinoids Market?
Leading businesses in the cannabinoids market, such as CBG and CBD, are concentrating their efforts on the production of innovative cannabis-infused cosmetic products to strengthen their foothold in the market. These cosmetics, which are laced with cannabis or its extracts like CBD or CBG, are prevalent in the beauty industry due to their many benefits such as skin hydration, anti-aging, and anti-inflammatory properties. For example, British Cannabis, a prominent UK-based cannabis provider, launched the Synergy CBG and CBD Rescue Cream in November 2022. This product is the first one in the UK's cannabis cosmetics region to undergo clinical exams and has improved further by the addition of another active component, CBG. With the combination of cannabidiol (CBD) and cannabigerol (CBG), two legal extracts from the cannabis plant, Synergy CBD Rescue Cream stands as a natural cream that is among the most all-encompassing skincare items available.
Who Are the Key Players In The Cannabinoids Market?
Major companies operating in the cannabinoids market include:
• 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 The Most Dominant Region In 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.
