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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Legal Cannabis Market: By Source, By Derivative, By End Use and Region Forecast 2020-2031
Legal Cannabis Market: By Source, By Derivative, By End Use and Region Forecast 2020-2031
Legal Cannabis Market size was valued at US$ 23,878.3 million in 2023 and is poised to grow at a CAGR of 23.3% from 2024 to 2030. Cannabis, derived from the Cannabis sativa plant, contains over 100 cannabinoids, with THC and CBD being the most well-known. These compounds interact with the body's endocannabinoid system, producing various effects. Legal cannabis encompasses products used for medical and recreational purposes in jurisdictions where it's permitted. The market's growth is primarily driven by increasing legalization, growing acceptance of medical cannabis, and shifting societal attitudes. As of 2023, over 50 countries had legalized cannabis for medical use, while recreational use was legal in Canada, Uruguay, and several U.S. states.
The COVID-19 pandemic initially disrupted supply chains but ultimately boosted demand as cannabis was deemed an essential service in many regions. Technological advancements in cultivation techniques, such as vertical farming and LED lighting, are enhancing yield and quality. Additionally, innovations in extraction methods and product formulations are expanding the range of cannabis-based products available. The aging population and increasing prevalence of chronic conditions treatable with cannabis contribute to market growth. However, regulatory complexities, banking restrictions, and lingering stigma pose challenges. North America held the major market share in 2023 and is expected to dominate the global market in the forecasted years.
In January 2024, Tilray Brands completed the acquisition of HEXO Corp for $56 million, a strategic move designed to:
In November 2023, Curaleaf Holdings launched "Select Briq," an innovative cannabis concentrate product designed to:
Study Period
2025-2031Base Year
2024CAGR
23.3%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
The legal cannabis market is driven by a complex interplay of factors. Legalization trends continue to be a primary growth driver, with more countries and states recognizing the potential medical benefits and economic opportunities of cannabis. This shift is supported by growing scientific evidence for cannabis efficacy in treating conditions such as chronic pain, epilepsy, and PTSD. For instance, a 2023 meta-analysis published in the Journal of Pain Management found that cannabis reduced chronic pain intensity by 30% in 60% of patients studied. The recreational segment is expanding rapidly in regions where it's legal, driven by consumer demand for alternative recreational substances and the appeal of cannabis culture.
However, the market faces challenges such as complex and varying regulations across jurisdictions, difficulties in securing traditional banking services due to federal illegality in some countries, and the need for standardized quality control measures. The illicit market continues to compete with legal channels in many areas, impacting market growth. Environmental concerns related to intensive indoor cultivation practices are also emerging as a consideration for industry.
North America dominates the legal cannabis market, accounting for approximately 85% of global sales in 2023. This is primarily due to the mature markets in Canada and several U.S. states. The U.S. market is fragmented due to state-by-state legalization, with California being the largest state market. Europe is emerging as a significant market, with Germany leading in medical cannabis sales and countries like Luxembourg and the Netherlands exploring recreational legalization.
The UK and Israel are key players in cannabis research and development. Asia-Pacific, while currently a small market, shows potential for rapid growth, particularly in Australia and Thailand, which have legalized medical cannabis. Latin America, led by Uruguay and Colombia, is positioned to become a major cultivation hub due to favorable growing conditions and lower production costs.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2023 |
US$ 23,878.3 million |
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Market CAGR |
23.3% |
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By Source |
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By Derivative |
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By End User |
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Download Free Sample Report
Legal Cannabis Market was valued at US$ 23,878.3 million in 2023 and is expected to grow at a CAGR of 23.3% from 2024 to 2030.
The Legal Cannabis Market is segmented based on Source, Derivative, End User, and Geography.
The leading players in the global Legal Cannabis Market are Canopy Growth Corporation; GW Pharmaceuticals, plc; Aurora Cannabis, Inc.; Aphria, Inc.; Cronos Group; Tilray; Sundial Growers Inc.; Insys Therapeutics, Inc.; The Scotts Company LLC; VIVO Cannabis Inc.; Cara Therapeutics Inc.
Historic years considered for the market study are 2019-2022, 2023 is considered as the base year for market estimation, and Seven years forecast is presented from 2024 – 2030.
| 1.Executive Summary |
| 2.Global Legal Cannabis Market Introduction |
| 2.1.Global Legal Cannabis Market - Taxonomy |
| 2.2.Global Legal Cannabis Market - Definitions |
| 2.2.1. Source |
| 2.2.2.End User |
| 2.2.3.Derivative |
| 2.2.4.Region |
| 3.Global Legal Cannabis Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Legal Cannabis Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Legal Cannabis Market By Source, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Marijuana |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hemp |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Legal Cannabis Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. CBD |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. THC |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Legal Cannabis Market By Derivative, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Medical Use |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Recreational Use |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Industrial Use |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Legal Cannabis Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Legal Cannabis Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Marijuana |
| 9.1.2.Hemp |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.CBD |
| 9.2.2.THC |
| 9.3. Derivative Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Medical Use |
| 9.3.2.Recreational Use |
| 9.3.3.Industrial Use |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Legal Cannabis Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Marijuana |
| 10.1.2.Hemp |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.CBD |
| 10.2.2.THC |
| 10.3. Derivative Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Medical Use |
| 10.3.2.Recreational Use |
| 10.3.3.Industrial Use |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Legal Cannabis Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Marijuana |
| 11.1.2.Hemp |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.CBD |
| 11.2.2.THC |
| 11.3. Derivative Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Medical Use |
| 11.3.2.Recreational Use |
| 11.3.3.Industrial Use |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Legal Cannabis Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Marijuana |
| 12.1.2.Hemp |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.CBD |
| 12.2.2.THC |
| 12.3. Derivative Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Medical Use |
| 12.3.2.Recreational Use |
| 12.3.3.Industrial Use |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Legal Cannabis Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Marijuana |
| 13.1.2.Hemp |
| 13.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.CBD |
| 13.2.2.THC |
| 13.3. Derivative Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Medical Use |
| 13.3.2.Recreational Use |
| 13.3.3.Industrial Use |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Canopy Growth Corporation |
| 14.2.2.GW Pharmaceuticals, plc |
| 14.2.3.Aurora Cannabis, Inc. |
| 14.2.4.Aphria, Inc. |
| 14.2.5.Cronos Group; Tilray |
| 14.2.6.Sundial Growers Inc. |
| 14.2.7.Insys Therapeutics, Inc. |
| 14.2.8.The Scotts Company LLC |
| 14.2.9.VIVO Cannabis Inc. |
| 14.2.10.Cara Therapeutics Inc. |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.