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PUBLISHER: Grand View Research | PRODUCT CODE: 1511857
PUBLISHER: Grand View Research | PRODUCT CODE: 1511857
Washington Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Hemp, Marijuana), By Derivatives (CBD, THC), By End-use (Industrial Use, Medical Use), And Segment Forecasts, 2024 - 2030
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Washington Legal Cannabis Market Growth & Trends:
The Washington legal cannabis market size is expected to reach USD 3.34 billion by 2030, registering a CAGR of 14.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as growing consumer disposable income, legalization of medicinal cannabis, growing consumer awareness of the health benefits of cannabis, increasing demand for cannabis from the pharmaceutical industry, and the approval of the U.S. Farm Bill are expected to boost the market growth.
Cannabis is widely utilized for managing a range of health conditions, including cancer, mental health issues, pain, and nausea, and for recreational purposes. The growing incidence of cancer is anticipated to significantly contribute to the growing acceptance of medical marijuana over the forecast period. For instance, according to an article published by the American Cancer Society in January 2023, 609,820 cancer deaths and 1,958,310 new cancer cases were projected to occur in the U.S. in 2023. In the U.S., two CBD drugs (nabilone and dronabinol) are approved by the FDA for the treatment of vomiting and nausea caused by chemotherapy.
In addition, the rise in cannabis certification programs and growing awareness among people regarding the therapeutic benefits of cannabis boosts market growth. For instance, Washington-based Tacoma Community College offers a 9-week online certificate program that gives an understanding of the cannabis supply chain and the skills needed to excel in the cannabis cultivation environment. Moreover, there is a growing demand for various CBD-infused products, such as beverages, cannabis oil, beauty products, capsules, gummies, etc. Various methods, such as vaping, smoking, or topical application, can introduce CBD into the body. In Washington, cannabis is legal, and CBD is employed to develop personal care products and medicinal products. The legalization of cannabis-based products created significant expansion opportunities for various industries to broaden their range of products.
Furthermore, new technologies and improvements are continually being developed for cannabis cultivation. With an increasing demand for technologically advanced cannabis production, these expanded techniques are anticipated to assist cultivators in optimizing their resources, further driving the market's growth.
Washington Legal Cannabis Market Report Highlights:
- By source, the marijuana segment accounted for the largest revenue share in 2023, owing to the recognition of cannabis for medical purposes and growing research studies for its therapeutic benefits
- By derivatives, the CBD segment dominated the market with the largest revenue share in 2023, due to rise in demand for CBD-infused food, cosmetics, and medication
- By end use, the recreational use segment held the largest market share in 2023 due to the growing demand for cannabis for smoking and consuming it in the form of foods & beverage
Product Code: GVR-4-68040-306-0
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Source
- 1.2.2. Derivatives
- 1.2.3. End-use
- 1.3. Estimates and Forecast Timeline
- 1.4. Research Methodology
- 1.5. Information Procurement
- 1.5.1. Purchased Database
- 1.5.2. GVR's Internal Database
- 1.5.3. Secondary Sources
- 1.5.4. Primary Research
- 1.6. Information Analysis
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation & Data Visualization
- 1.8. Model Details
- 1.8.1. Commodity Flow Analysis
- 1.9. List of Secondary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.2.1. Source outlook
- 2.2.2. Derivatives outlook
- 2.2.3. End-use outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Washington Legal Cannabis Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Case Study Analysis
- 3.3. Business Environment Analysis
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTLE Analysis
- 3.3.1. Industry Analysis - Porter's
- 3.4. Regulatory Landscape
Chapter 4. Washington Legal Cannabis Market Segment Analysis, By Source, 2018 - 2030 (USD Million)
- 4.1. Definition and Scope
- 4.2. Source Segment Dashboard
- 4.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.4. Hemp
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.2. Hemp CBD
- 4.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Industrial Hemp
- 4.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Marijuana
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5.2. Flower
- 4.5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5.3. Oil and Tinctures
- 4.5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Washington Legal Cannabis Market Segment Analysis, By Derivatives, 2018 - 2030 (USD Million)
- 5.1. Definition and Scope
- 5.2. Derivatives Segment Dashboard
- 5.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.4. CBD
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. THC
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Others
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Washington Legal Cannabis Market Segment Analysis, By End-use, 2018 - 2030 (USD Million)
- 6.1. Definition and Scope
- 6.2. End-use Segment Dashboard
- 6.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.4. Industrial Use
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5. Medical Use
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Chronic Pain
- 6.5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Depression and Anxiety
- 6.5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.4. Arthritis
- 6.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.5. Post-traumatic Stress Disorder (PTSD)
- 6.5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.6. Cancer
- 6.5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.7. Migraines
- 6.5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.8. Epilepsy
- 6.5.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.9. Alzheimer's
- 6.5.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.10. Multiple Sclerosis
- 6.5.10.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.11. Amyotrophic Lateral Sclerosis
- 6.5.11.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.12. Tourette's
- 6.5.12.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.13. Diabetes
- 6.5.13.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.14. Parkinson's
- 6.5.14.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.15. Glaucoma
- 6.5.15.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.16. Others
- 6.5.16.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6. Recreational Use
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Position Analysis
- 7.4. Company Profiles
- 7.4.1. NORTHWEST CANNABIS SOLUTIONS
- 7.4.1.1. Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Service Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. The Hollingsworth Cannabis Company, LLC
- 7.4.2.1. Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Service Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. Alkaloid Cannabis Company
- 7.4.3.1. Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Service Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Herbs House
- 7.4.4.1. Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Service Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. Nirvana Cannabis
- 7.4.5.1. Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Service Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Edgemont Group (Leafwerx)
- 7.4.6.1. Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Service Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. OLYMPIA WEED COMPANY
- 7.4.7.1. Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Service Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. Canna West Seattle
- 7.4.8.1. Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Service Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. Grow Op Farms (Phat Panda)
- 7.4.9.1. Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Service Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. Forbidden Farms, LLC
- 7.4.10.1. Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Service Benchmarking
- 7.4.10.4. Strategic Initiatives
- 7.4.1. NORTHWEST CANNABIS SOLUTIONS
Product Code: GVR-4-68040-306-0
List of Tables
- Table 1 List of secondary sources
- Table 2 List of abbreviations
- Table 3 Washington legal cannabis market, by source, 2018 - 2030 (USD Million)
- Table 4 Washington legal cannabis market, by derivatives, 2018 - 2030 (USD Million)
- Table 5 Washington legal cannabis market, by end-use, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Market research process
- Fig. 2 Data triangulation techniques
- Fig. 3 Primary research pattern
- Fig. 4 Value-chain-based sizing & forecasting
- Fig. 5 QFD modeling for market share assessment
- Fig. 6 Market research approaches
- Fig. 7 Market formulation & validation
- Fig. 8 U.S. cannabis market: market outlook
- Fig. 9 U.S. cannabis competitive insights
- Fig. 10 Parent market outlook
- Fig. 11 Related/ancillary market outlook.
- Fig. 12 Industry value chain analysis
- Fig. 13 Washington legal cannabis market driver impact
- Fig. 14 Washington legal cannabis market restraint impact
- Fig. 15 Washington legal cannabis market: Source movement analysis
- Fig. 16 Washington legal cannabis market: Source outlook and key takeaways
- Fig. 17 Hemp market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Hemp CBD market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Industrial hemp market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Marijuana market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 21 Flower market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Oil and tinctures market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Washington legal cannabis market: Derivatives movement analysis
- Fig. 24 Washington legal cannabis market: Derivatives outlook and key takeaways
- Fig. 25 CBD market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 26 THC market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Others market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Washington legal cannabis market: End-use movement analysis
- Fig. 29 Washington legal cannabis market: End-use outlook and key takeaways
- Fig. 30 Industrial use market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 31 Medical use market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 32 Chronic pain market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Depression and anxiety market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Arthritis market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Post-traumatic stress disorder (PTSD) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 36 Cancer market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 37 Migraines market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 38 Epilepsy market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 39 Alzheimer's market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 40 Multiple sclerosis market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 41 AIDS market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 42 Amyotrophic lateral sclerosis market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 43 Tourette's market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 44 Diabetes market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 45 Parkinson's market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 46 Glaucoma market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 47 Others market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 48 Recreational Use market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 49 Key company categorization
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