Cannabis - South Korea
South Korea- South Korea is projected to reach a revenue of US$484.91m in the Cannabis market by 2025.
- The revenue is anticipated to demonstrate an annual growth rate (CAGR 2025-2029) of 2.14%, leading to a market volume of US$527.75m by 2029.
- When compared globally, the United States is expected to generate the most revenue, reaching US$45.35bn in 2025.
- In terms of per person revenues in 2025, US$67.40 are generated concerning the total population figures.
- South Korea's evolving regulatory landscape is shaping a burgeoning cannabis market with a focus on research and pharmaceutical advancements.
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.
- Recreational Cannabis
- Medical Cannabis
- Pharmaceutical Cannabis
- CBD Products
- Illegal cannabis
- Cannabis cultivated for private use
