Market Insights report
New product innovation and a shift in attitude towards cannabis from consumers and governments have led to a growing Cannabis market. Overall, the Cannabis market realized a revenue of US$59.4 billion worldwide in 2023.
This report gives an international oversight into the Cannabis market which is split into the following markets: Recreational Cannabis, Medical Cannabis, Pharmaceutical Cannabis, and CBD Products. It provides insight into drivers, current market trends, key companies, consumer insights, and future developments in the market.
What's included?
The maturity of the Cannabis market varies across the globe mainly due to differing legal environments and public attitudes towards cannabis. Legalization of cannabis is an important source of economic growth as it contributes to the growing tax revenue, increasing demands on the supply chain and to the creation of new workplaces. The market is divided into four segments: Recreational Cannabis, Medical Cannabis, CBD Products, and Pharmaceutical Cannabis.This report gives an overview of the Cannabis market from an international perspective. Besides all relevant market figures like total and forecasted revenues for the years from 2016 to 2029. We furthermore give detailed insights into market drivers, current trends, key players, and important background information on the Cannabis market.In general, the Cannabis market is expected to grow at a CAGR of 3.01% between 2024 and 2029. Particularly strong growth is expected in upper-middle-income countries, due to the growing trend of changes in cannabis legislation and the corresponding expansion of supporting infrastructure. Together, the Recreational and Medical Cannabis segments account for 51% of the total global revenue, due to the major sales of cannabis for recreational and medical-use in Canada and the United States.
Note: CAGR: Compound Annual Growth Rate / average growth rate per year
Overview
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