U.S. Minor Cannabinoids Market - By Type [Cannabigerol (CBG), Cannabinol (CBN), Cannabichromene (CBC)], Product (Isolates, Distillate), Application (Pain Management, Neurological Disorders, Anxiety/Stress), End-use, Forecast (2024

Description

The U.S. minor cannabinoids market is estimated to register 14.8% CAGR during 2024-2032, driven by consumer demand for natural wellness products. Cannabinoids are gaining popularity for their anti-inflammatory, pain-relieving, and sleep-enhancing benefits. According to a January 2024 survey by the Pew Research Center, nearly 90% of Americans believe that marijuana should be legalized for either medical or recreational use. Research from the National Institutes of Health supports the therapeutic potential of these compounds, further boosting consumer interest. Additionally, the market offers a variety of products, from supplements to skincare, meeting diverse consumer needs.

Regulatory changes are also driving market growth. More states are legalizing cannabis products, creating a favorable environment for companies. For instance, in May 2024, a group of 18 Democratic Senators reintroduced a bill to legalize marijuana nationwide, just one day after reports emerged that the U.S. government would reclassify cannabis under federal law. This regulatory support encourages innovation and makes minor cannabinoids more accessible. The inclusion of these compounds in mainstream retail and wellness products is also expanding their reach, contributing to overall market growth.

The U.S. minor cannabinoids industry is classified based on type, product, application, end-use, and region.

The cannabichromene (CBC) demand is on the rise due to its promising therapeutic potential and growing consumer interest in comprehensive cannabinoid profiles. CBC, a non-psychoactive compound found in cannabis, is gaining attention for its potential benefits, including its anti-inflammatory, analgesic, and neuroprotective properties. Research into CBC is expanding, revealing its ability to interact synergistically with other cannabinoids, which enhances its appeal in creating more effective and balanced cannabinoid formulations.

The skin care application will generate notable revenues for the market by 2032. Minor cannabinoids, such as CBD, CBG, and CBC, are increasingly being incorporated into skincare formulations due to their potential anti-inflammatory, antioxidant, and soothing properties, which can benefit a variety of skin conditions including acne, eczema, and aging. As consumers become more aware of and interested in the natural and therapeutic benefits of these cannabinoids, the demand for cannabinoid-infused skincare products is expected to rise. The innovations in product development is favoring integration of these compounds into widely used personal care and cosmetic products, adding to segment value.

The U.S. minor cannabinoids industry share from cosmetic companies segment will grow at a significant pace through 2032, due to increasing consumer demand for innovative and effective beauty solutions. By incorporating minor cannabinoids into their formulations, cosmetic companies can address a range of skincare concerns, from anti-aging to soothing irritated skin. The consumer inclination for natural and multifunctional products, minor cannabinoids are gaining traction within the broader wellness and beauty industries. As major cosmetic brands and new entrants alike invest in R&D to explore the product benefits, emergence of lucrative opportunities will bolster the market growth.

Product Code: 10036

Chapter 1 Methodology & Scope

1.1 Market scope & definitions
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Increased consumer awareness and demand
  - 3.2.1.2 Expansion of product offerings
  - 3.2.1.3 Legalization and regulatory changes
- 3.2.2 Industry pitfalls & challenges
  - 3.2.2.1 High production costs
  - 3.2.2.2 Advertising and marketing restrictions
3.3 Growth potential analysis
3.4 Regualtory landscape
3.5 Future market trends
3.6 Porter's analysis
3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company matrix analysis
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategy dashboard

Chapter 5 Market Estimates and Forecast, By Type, 2021 - 2032 ($ Mn)

5.1 Key trends
5.2 Cannabigerol (CBG)
5.3 Cannabinol (CBN)
5.4 Cannabichromene (CBC)
5.5 Tetrahydrocannabivarin (THCV)
5.6 Cannabigerolic acid (CBGA)
5.7 Other minor cannabinoids

Chapter 6 Market Estimates and Forecast, By Product, 2021 - 2032 ($ Mn)

6.1 Key trends
6.2 Isolates
6.3 Distillate

Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)

7.1 Key trends
7.2 Pain management
7.3 Neurological disorders
7.4 Anxiety/stress
7.5 Sleep disorders
7.6 Joint pain & inflammation
7.7 Skin care
7.8 Other applications

Chapter 8 Market Estimates and Forecast, By End-Use, 2021 - 2032 ($ Mn)

8.1 Key trends
8.2 Pharmaceutical companies
8.3 Cosmetic companies
8.4 Other end-users

Chapter 9 Market Estimates and Forecast, By Zone, 2021 - 2032 ($ Mn)

9.1 Key trends, by zone
9.2 Northeast
- 9.2.1 Connecticut
- 9.2.2 Maine
- 9.2.3 Massachusetts
- 9.2.4 New Hampshire
- 9.2.5 Rhode Island
- 9.2.6 Vermont
- 9.2.7 New Jersey
- 9.2.8 New York
- 9.2.9 Pennsylvania
9.3 East North Central
- 9.3.1 Wisconsin
- 9.3.2 Michigan
- 9.3.3 Illinois
- 9.3.4 Indiana
- 9.3.5 Ohio
9.4 West North Central
- 9.4.1 North Dakota
- 9.4.2 South Dakota
- 9.4.3 Nebraska
- 9.4.4 Kansas
- 9.4.5 Minnesota
- 9.4.6 Iowa
- 9.4.7 Missouri
9.5 South Atlantic
- 9.5.1 Delaware
- 9.5.2 Maryland
- 9.5.3 District of Columbia
- 9.5.4 Virginia
- 9.5.5 West Virginia
- 9.5.6 North Carolina
- 9.5.7 South Carolina
- 9.5.8 Georgia
- 9.5.9 Florida
9.6 East South Central
- 9.6.1 Kentucky
- 9.6.2 Tennessee
- 9.6.3 Mississippi
- 9.6.4 Alabama
9.7 West South Central
- 9.7.1 Oklahoma
- 9.7.2 Texas
- 9.7.3 Arkansas
- 9.7.4 Louisiana
9.8 Mountain States
- 9.8.1 Idaho
- 9.8.2 Montana
- 9.8.3 Wyoming
- 9.8.4 Nevada
- 9.8.5 Utah
- 9.8.6 Colorado
- 9.8.7 Arizona
- 9.8.8 New Mexico
9.9 Pacific Central
- 9.9.1 California
- 9.9.2 Alaska
- 9.9.3 Hawaii
- 9.9.4 Oregon
- 9.9.5 Washington

Chapter 10 Company Profiles

10.1 BayMedica (InMed Pharmaceuticals Inc.)
10.2 Fresh Bros Hemp Company
10.3 GVB Biopharma
10.4 GenCanna
10.5 KND Labs
10.6 Laurelcrest
10.7 Mile High Labs
10.8 Open Book Extracts
10.9 Rhizo Sciences
10.10 Verus Extracts
10.11 Viobin
10.12 ZERO POINT EXTRACTION, LLC

U.S. Minor Cannabinoids Market - By Type [Cannabigerol (CBG), Cannabinol (CBN), Cannabichromene (CBC)], Product (Isolates, Distillate), Application (Pain Management, Neurological Disorders, Anxiety/Stress), End-use, Forecast (2024 - 2032)