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Global Cannabis Market- Market Size & Forecast to 2030

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    Report

  • 249 Pages
  • September 2021
  • Region: Global
  • Quince Market Insights
  • ID: 5514244
The global cannabis market in the COVID-19 period has been estimated to value USD 25,650.4 million in 2021, and is projected to reach USD 1, 76,005.5 million by 2030 at a CAGR of 23.9%, 2021-2030. The global cannabis market growth can be attributed to factors, such as increasing awareness among consumers regarding the health benefits of cannabis and its rising medical application.

Patients suffering from chronic diseases, like Parkinson’s, Alzheimer’s, cancer, and many neurological disorders, are administered cannabis. The demand for cannabis oil is growing due to its wellness and health purpose. Cannabidiol oil is used for treating depression and anxiety, diabetes protection, cancer symptom relief, and inflammation. Due to the rising adoption of cannabidiol (CBD) based products to treat ailments, the global cannabis market is expected to grow significantly during the forecast period. Strict regulatory guidelines associated with the sales and production of cannabis across various nations can be tedious for producers and stakeholders to comply with. Also, the rules and regulations concerning the utilization of cannabis vary from country to country, which generates hindrances in the worldwide market. The presence of major key players, pharmaceutical and biotechnology industries worldwide, and their experimental approach drives the cannabis market growth.

The cannabis market has been segmented based on route of administration, compound, product, species, distribution channel, application, end user, and region.

Based on route of administration, the market is segmented into oral, topical, inhalation, rectal, sublingual. The inhalation segment is expected to hold the largest share in the global cannabis market during the forecast period. Inhalation is a route of administration where cannabis products are inhaled through vapors and smoke. The smoke is released by heating cannabis leaves, extracts with psychoactive chemicals. Different procedures for inhaling cannabis comprise pipe or bong, joint smoking, vaping, and nasal spray. Inhalation is considered to be the fastest and popular method for treating medical conditions and recreation activities. This factor is expected to contribute to segment growth.

Based on the compound, the market is segmented into tetrahydrocannabinol (THC)-dominant, cannabidiol (CBD)-dominant, and balanced THC and CBD. The cannabidiol (CBD) segment is accounted to have the largest share in global cannabis market during the forecast period. Cannabis is no longer just utilized for its tetrahydrocannabinol (THC) effects of getting high. The combined effects of both cannabinoids (THC and CBD) have their health advantages, but when taken at once. It works best and the end user can get more advanced results. For instance, CBD (cannabidiol) counteracts some of the anxiety and paranoia that tetrahydrocannabinol can cause. Tetrahydrocannabinol has better sedative and muscle relaxing effects. So, by mixing them, end users can get all the muscle relaxing properties with better cognitive awareness.

Based on the product, the market is segmented into oils, tinctures, suppositories, transdermal patches, isolates, tablets, capsules, vape oils, creams and roll-ons, and others. The oil segment is accounted to have the largest share in global cannabis treatment market during the forecast period. Oils extracted from cannabis have various benefits and advantages in medical, food & beverage, and personal care industries. CBD oils have various health benefits in treating medical disorders like epilepsy, anxiety, cancer, acne, diabetes, and others. Oils are also used in production of creams and balms that can be absorbed through skin. Various food products and drinks with cannabis oil are also in demand. Several CBD oils are available, including full-spectrum CBD oil, broad-spectrum CBD oil, and isolate oil. Hemp oil is also widely available in the market for various uses. These factors are expected to drive market growth during the forecast period.

Based on the species, the market is segmented into cannabis indica, cannabis sativa, and hybrid. The cannabis indica segment is accounted to have the largest share in global cannabis market during the forecast period. Cannabis indica is native to Afghanistan, Pakistan, and Turkey. The plant is grown in the frequently dry, harsh, and turbulent climate of the Hindu Kush Mountains. Cannabis indica often has a high level of cannabidiol. Cannabis indica plant is used to lower nausea and pain and increase appetite. Due to cannabis indica's deep relaxation effects, it is usually consumed at night. All these benefits offered by the product are expected to drive the segment growth.

Based on the distribution channel, the market is segmented into online and offline. Offline is further segmented into retail store, pharmacies, and others. The offline segment is accounted to have the largest share in global cannabis market during the forecast period. Offline segment growth can be attributed to factors like legal sales of cannabis to consumers through licensed retail or drug stores. Increasing demand for medicinal cannabis due to rising prevalence of chronic diseases and health benefits provided by low CBD content products are expected to boost segment growth. Furthermore, growing number of dispensaries is also expected to support segment growth during the forecast period.

Based on the applications, the market is segmented into medical and recreational. Medical is further segmented into anxiety/stress, sleep/insomnia, chronic pain, migraine, skin care, seizures, joint pain and inflammation, neurological conditions, and others (multiple sclerosis, muscle spasms and nausea). Recreational segment is divided into flowers, stems, seeds, and leaves. The medical segment is accounted to have the largest share in global cannabis market during the forecast period. Medical cannabis, also known as medical marijuana, is an unprocessed, crude, and whole marijuana plant extract and is utilized to cure cancer diseases. The tetrahydrocannabinol present in cannabis is used to cure nausea in treatments like chemotherapy and others. On the other hand, the FDA (food and drug administration) and United States Boards authorities are yet to sanction cannabis as a legal medicine. Growing research and activities and developments in this field are driving the demand for medical cannabis.

Based on the end user, the market is segmented into pharmaceuticals, food, beverages, and tobacco, personal care, and research and development centers. The food, beverage and tobacco segment are accounted to have the largest share in global cannabis market during the forecast period. Growing demand for CBD-infused food like chocolates, beverages, gummies, and others is compelling more companies to enter into the cannabis food & beverage industry. Growing legalization of cannabis has also allowed retail shops like coffee shops, bakeries, and pizza shops to serve CBD-infused food to attract more customers. Various beverage companies are also producing water, wines, and other drinks infused with CBD. These factors are thus providing opportunities for food industry players to innovate new edibles, which is boosting the market growth.

Based on region, the market has been segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to be the largest region in the cannabis market during the forecast period. North American cannabis market is driven by the availability of a broad range of cannabis products for customers. Increasing research and development activities is driving the regional cannabis market. The food and drug association (FDA) approvals for cannabis-related drugs therapies or related products also contribute to the cannabis market growth. Cannabis is advantageous for elderly population with relief from nausea, chronic pain, and many more, which contributes to the regional cannabis market. The regional market growth can be attributed to increasing awareness about its therapeutic ability in preventing and curing chronic disorders.

Table of Contents

1. Market Abstract
2. Market Introduction
2.1. Market Scope
2.2. Key Definitions-Content
2.2.1. Cannabinoid
2.2.2. Tetrahydrocannabinol (Odelta-9-Tetrahydrocannabinol) (Thc)
2.2.3. Cannabidiol (Cbd)
2.2.4. Endocannabinoid System (Ecs)
2.2.5. Extraction
2.2.6. Recreational
2.2.7. Depenalization
2.2.8. Decriminalization
2.2.9. Legalization
3. Qmi Research Practice
3.1. Research Practice
3.1.1. Supply Based Analysis
3.1.2. Demand Based Analysis
3.1.3. Global Level Analysis
3.1.4. Country Level Analysis
3.1.5. Triangulation
3.2. Primary Data
3.3. Secondary Data
3.4. Market Evaluation & Forecasting Methodology
3.5. Assumptions/ Limitations for the Study
3.6. What this Study Provides
3.7. Key Questions Answered by this Report
3.8. This Study is Intended for
4. Key Related Data
4.1. Competitive Positioning
4.1.1. Product Positioning, by Route of Administration
4.1.2. Product Positioning, by Product
4.1.3. Product Positioning, by Species
4.1.4. Product Positioning, by Distribution Channel
4.1.5. Product Positioning, by Application
4.1.6. Product Positioning, by End-User
4.1.7. Regional Reach Positioning
4.2. Major Investments in Last Five Years by Global Players
4.3. Key Industry Trends
4.3.1. Cannabis Trends Will Increase
4.3.2. The Legalization Movement Will Grow Stronger
4.3.3. Researchers Are Studying New Uses of Medical Marijuana
4.3.4. More Diverse Range of Customers
4.3.5. Customers Will Be Aware of the Benefits of Cannabis
4.4. Technological Advancement
4.5. Vendor Matrix
4.6. Guidelines & Regulations
4.6.1. Controlled Substance Act (Csa)
4.6.2. Agriculture Improvement Act of 2018 (Farm Bill)
4.6.3. German Narcotics Act
4.6.4. Narcotics Act (No.8) B.E. 2564 (2021)
4.7. Thailand Cannabis Market Outlook
4.7.1. Trends in Thailand for Cannabis
4.7.2. Go to Market Strategies Overview
4.7.3. Potential Suppliers
4.7.4. Thailand Regulations/ Guidelines
4.7.5. Key Challenges
4.8. Covid- 19 Impact on Cannabis Market
4.8.1. The Fall and Rise of Merger and Acquisitions
4.8.2. The Rise of Marijuana Tax Benefits
4.8.3. Clinical Trials of Cannabis Are Still on Going
4.9. Mitragyna Speciosa (Kratom)
4.9.1. Legalization
4.9.2. Trends
4.9.3. Adoption
4.9.4. Applications
4.9.5. Product Types
4.10. Asean Cannabis Used Cases
5. Impact Factor Analysis
5.1. Drivers/Restraints/Opportunities/Challenges
5.1.1. Drivers
5.1.1.1. Growing Adoption of Medical Cannabis for the Treatment of Chronic Compounds
5.1.1.2. Growing Legalization of Medical Cannabis in Various Countries
5.1.2. Restraints
5.1.2.1. Legalization of Medical Cannabis Only for Selected Indications
5.1.2.2. High Pricing of Medical Cannabis in Big Markets
5.1.3. Opportunities
5.1.3.1. Product Development Via Research and Novel Product Delivery Solutions
5.1.3.2. Emergence of Cannabis Legalization in Asia-Pacific
5.1.4. Challenges
5.1.4.1. Intensive Energy Consumption and Maintaining Product Consistency for the Cultivation of Cannabis
5.2. Porter's Five Forces Model
5.2.1. Threat of New Entrants: (Low to Moderate)
5.2.2. Bargaining Power of Suppliers: (Moderate)
5.2.3. Intensity of Rivalry: (Moderate)
5.2.4. Bargaining Power of Buyers: (Moderate)
5.2.5. Threat of Substitute: (Moderate)
5.3. Value Chain Analysis
5.3.1. Crop Production
5.3.2. Harvesting, Processing, and Packaging
5.3.3. Distribution
5.3.4. Point of Sale
6. Market Development Analysis
6.1. Overview
6.2. New Product Development (2015-2021)
6.3. Partnerships/Agreements/Collaborations/ Expansion (2015-2021)
6.4. Mergers & Acquisitions (2015-2021)
7. Cannabis Market, by Route of Administration
7.1. Introduction
7.2. Oral
7.3. Topical
7.4. Inhalation
7.5. Rectal
7.6. Sublingual
8. Cannabis Market, by Compound
8.1. Introduction
8.2. Tetrahydrocannabinol (Thc)-Dominant
8.3. Cannabidiol (Cbd)-Dominant
8.4. Balanced Thc & Cbd
9. Cannabis Market, by Product
9.1. Introduction
9.2. Oils
9.3. Tinctures
9.4. Suppositories
9.5. Transdermal Patches
9.6. Isolates
9.7. Tablets
9.8. Capsules
9.9. Vape Oils
9.10. Creams and Roll-On
9.11. Others
10. Cannabis Market, by Species
10.1. Introduction
10.2. Cannabis Indica
10.3. Sativa
10.4. Hybrid
11. Cannabis Market, by Distribution Channel
11.1. Introduction
11.2. Offline
11.2.1. Offline, by Type
11.2.2. Retail Store
11.2.3. Pharmacies
11.2.4. Others
11.3. Online
12. Cannabis Market, by Application
12.1. Introduction
12.2. Medical
12.2.1. Medical, by Type
12.2.2. Anxiety/Stress
12.2.3. Sleep/Insomnia
12.2.4. Chronic Pain
12.2.5. Migraine
12.2.6. Skin Care
12.2.7. Seizures
12.2.8. Joint Pain & Inflammation
12.2.9. Neurological Conditions
12.2.10. Others
12.3. Recreational
12.3.1. Recreational, by Type
12.3.2. Flowers
12.3.3. Stems
12.3.4. Seeds
12.3.5. Leaves
13. Cannabis Market, by End-User
13.1. Introduction
13.2. Pharmaceutical
13.3. Food, Beverage and Tobacco
13.4. Personal Care
13.5. Research and Development Centers
14. Cannabis Market, Regional Analysis
14.1. Introduction
14.2. North America
14.2.1. North America Cannabis Market - by Country
14.2.1.1. U.S.
14.2.1.2. Canada
14.2.1.3. Mexico
14.2.2. North America Cannabis Market - by Route of Administration
14.2.3. North America Cannabis Market - by Compound
14.2.4. North America Cannabis Market - by Product
14.2.5. North America Cannabis Market - by Species
14.2.6. North America Cannabis Market - by Distribution Channel
14.2.6.1. North America Cannabis Market - by Offline Type
14.2.7. North America Cannabis Market - by Application
14.2.7.1. North America Medical Application, by Type
14.2.7.2. North America Recreational Application, by Type
14.2.8. North America Cannabis Market - by End-User
14.3. Europe
14.3.1. Europe Cannabis Market - by Country
14.3.1.1. U.K.
14.3.1.2. Germany
14.3.1.3. Russia
14.3.1.4. France
14.3.1.5. Italy
14.3.1.6. Spain
14.3.1.7. Rest of Europe
14.3.2. Europe Cannabis Market - by Route of Administration
14.3.3. Europe Cannabis Market - by Compound
14.3.4. Europe Cannabis Market - by Product
14.3.5. Europe Cannabis Market - by Species
14.3.6. Europe Cannabis Market - by Distribution Channel
14.3.6.1. Europe Cannabis Market - by Offline Type
14.3.7. Europe Cannabis Market - by Application
14.3.7.1. Europe Medical Application, by Type
14.3.7.2. Europe Recreational Application, by Type
14.3.8. Europe Cannabis Market - by End-User
14.4. Asia-Pacific
14.4.1. Asia-Pacific Cannabis Market - by Country
14.4.1.1. Thailand
14.4.1.2. China
14.4.1.3. India
14.4.1.4. Japan
14.4.1.5. South Korea
14.4.1.6. Australia
14.4.1.7. Rest of Asia-Pacific
14.4.2. Asia-Pacific Cannabis Market - by Route of Administration
14.4.3. Asia-Pacific Cannabis Market - by Compound
14.4.4. Asia-Pacific Cannabis Market - by Product
14.4.5. Asia-Pacific Cannabis Market - by Species
14.4.6. Asia-Pacific Cannabis Market - by Distribution Channel
14.4.6.1. Asia-Pacific Cannabis Market - by Offline Type
14.4.7. Asia-Pacific Cannabis Market - by Application
14.4.7.1. Asia-Pacific Medical Application, by Type
14.4.7.2. Asia-Pacific Recreational Application, by Type
14.4.8. Asia-Pacific Cannabis Market - by End-User
14.5. Middle East& Africa
14.5.1. Middle East & Africa Cannabis Market - by Country
14.5.1.1. Uae
14.5.1.2. Saudi Arabia
14.5.1.3. Qatar
14.5.1.4. South Africa
14.5.1.5. Rest of Middle East & Africa
14.5.2. Middle East & Africa Cannabis Market - by Route of Administration
14.5.3. Middle East & Africa Cannabis Market - by Compound
14.5.4. Middle East & Africa Cannabis Market - by Product
14.5.5. Middle East & Africa Cannabis Market - by Species
14.5.6. Middle East & Africa Cannabis Market - by Distribution Channel
14.5.6.1. Middle East & Africa Cannabis Market - by Offline Type
14.5.7. Middle East & Africa Cannabis Market - by Application
14.5.7.1. Middle East & Africa Medical Application, by Type
14.5.7.2. Middle East & Africa Recreational Application, by Type
14.5.8. Middle East & Africa Cannabis Market - by End-User
14.6. South America
14.6.1. South America Cannabis Market - by Country
14.6.1.1. Brazil
14.6.1.2. Argentina
14.6.1.3. Rest of South America
14.6.2. South America Cannabis Market - by Route of Administration
14.6.3. South America Cannabis Market - by Compound
14.6.4. South America Cannabis Market - by Product
14.6.5. South America Cannabis Market - by Species
14.6.6. South America Cannabis Market - by Distribution Channel
14.6.6.1. South America Cannabis Market - by Offline Type
14.6.7. South America Cannabis Market - by Application
14.6.7.1. South America Medical Application, by Type
14.6.7.2. South America Recreational Application, by Type
14.6.8. South America Cannabis Market - by End-User
15. Company Profiles
15.1. Canopy Growth Corporation
15.1.1. Company Overview
15.1.2. Canopy Growth Corporation.: Financial Overview
15.1.3. Canopy Growth Corporation: Product Overview
15.1.4. Canopy Growth Corporation: SWOT Analysis
15.1.5. Canopy Growth Corporation: Key Developments
15.2. Tilray
15.2.1. Company Overview
15.2.2. Tilray.: Financial Overview
15.2.3. Tilray: Product Overview
15.2.4. Tilray: SWOT Analysis
15.2.5. Tilray: Key Developments
15.3. Aurora Cannabis Inc.
15.3.1. Company Overview
15.3.2. Aurora Cannabis Inc.: Product Overview
15.3.3. Aurora Cannabis Inc.: Financial Overview
15.3.4. Aurora Cannabis Inc.: SWOT Analysis
15.3.5. Aurora Cannabis Inc.: Key Developments
15.4. Medmen
15.4.1. Company Overview
15.4.2. Medmen: Financial Overview
15.4.3. Medmen: Product Overview
15.4.4. Medmen: SWOT Analysis
15.4.5. Medmen: Key Developments
15.5. Medical Marijuana Inc.
15.5.1. Company Overview
15.5.2. Medical Marijuana Inc..: Financial Overview
15.5.3. Medical Marijuana Inc.: Product Overview
15.5.4. Medical Marijuana Inc.: SWOT Analysis
15.5.5. Medical Marijuana Inc.: Key Developments
15.6. Hexo Corp.
15.6.1. Company Overview
15.6.2. Hexo Corp.: Financial Overview
15.6.3. Hexo Corp.: Product Overview
15.6.4. Hexo Corp.: SWOT Analysis
15.6.5. Hexo Corp.: Key Developments
15.7. Curaleaf Holdings Inc.
15.7.1. Company Overview
15.7.2. Curaleaf Holdings Inc.: Financial Overview
15.7.3. Curaleaf Holdings Inc.: Product Overview
15.7.4. Curaleaf Holdings Inc: SWOT Analysis
15.7.5. Curaleaf Holdings Inc.: Key Developments
15.8. Organigram Holdings Inc.
15.8.1. Company Overview
15.8.2. Organigram Holdings Inc.: Financial Overview
15.8.3. Organigram Holdings Inc.: Product Overview
15.8.4. Organigram Holdings Inc.: SWOT Analysis
15.8.5. Organigram Holdings Inc.: Key Development
15.9. Cv Sciences, Inc.
15.9.1. Company Overview
15.9.2. Cv Sciences, Inc.: Financial Overview
15.9.3. Cv Sciences, Inc.: Product Overview
15.9.4. Cv Sciences, Inc.: SWOT Analysis
15.9.5. Cv Sciences, Inc.: Key Development
15.10. Folium Biosciences
15.10.1. Company Overview
15.10.2. Folium Biosciences: Product Overview
15.10.3. Folium Biosciences: SWOT Analysis
15.10.4. Folium Biosciences: Key Development
15.11. Village Farms International Inc.
15.11.1. Company Overview
15.11.2. Village Farms International Inc.: Financial Overview
15.11.3. Village Farms International Inc.: Product Overview
15.11.4. Village Farms International Inc.: SWOT Analysis
15.11.5. Village Farms International Inc.: Key Development
15.12. Isodiol International Inc.
15.12.1. Company Overview
15.12.2. Isodiol International Inc.: Financial Overview
15.12.3. Isodiol International Inc.: Product Overview
15.12.4. Isodiol International Inc.: SWOT Analysis
15.12.5. Isodiol International Inc.: Key Developments
15.13. Gw Pharmaceuticals plc
15.13.1. Company Overview
15.13.2. Gw Pharmaceuticals plc.: Financial Overview
15.13.3. Gw Pharmaceuticals plc: Product Overview
15.13.4. Gw Pharmaceuticals plc: SWOT Analysis
15.13.5. Gw Pharmaceuticals plc: Key Developments
15.14. Yunnan Hansu Biotechnology Co. Ltd.
15.14.1. Company Overview
15.14.2. Yunnan Hansu Biotechnology Co. Ltd.: Product Overview
15.14.3. Yunnan Hansu Biotechnology Co. Ltd.: SWOT Analysis
15.14.4. Yunnan Hansu Biotechnology Co. Ltd.: Key Developments
15.15. Hempthai
15.15.1. Company Overview
15.15.2. Hempthai: Product Overview
15.15.3. Hempthai: SWOT Analysis
16. Appendix
16.1. List of Abbreviation
16.2. Key Stakeholders’ Opinion
16.3. Key Related Reports

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Canopy Growth Corporation
  • Tilray
  • Aurora Cannabis Inc
  • Medmen
  • Medical Marijuana Inc
  • Hexo Corp
  • Curaleaf Holdings Inc
  • Organigram Holdings Inc
  • Cv Sciences Inc
  • Folium Biosciences
  • Village Farms International Inc
  • Isodiol International Inc
  • Gw Pharmaceuticals plc
  • Yunnan Hansu Biotechnology Co Ltd
  • Hempthai