Cannabinoids Global Market Report 2024

Description

Cannabinoids Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cannabinoids market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
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Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for cannabinoids? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cannabinoids market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product Type: Cannabidiol; Tetrahydrocannabinol; Cannabinol; Other Product Types
2) By Distribution: Hospital Pharmacies; Retail Pharmacies; Online Stores
3) By Application: Medical; Recreational; Industrial Hemp
Companies Mentioned: The Supreme Cannabis Company Inc.; Elixinol Global Limited; GW Pharmaceuticals PLC.; Tilray Inc.; Aurora Cannabis Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Cannabinoids are specific chemical compounds found in marijuana that exert effects on the immune and central nervous systems similar to certain drugs. These compounds are utilized to alleviate side effects or symptoms associated with chronic diseases, particularly in the context of cancer treatment.

The primary types of cannabinoid products include cannabidiol (CBD), tetrahydrocannabinol (THC), cannabinol, and other variants. Cannabidiol is employed in the treatment of conditions such as seizures, anxiety, insomnia, chronic pain, and tobacco addiction. It is a chemical component derived from the cannabis sativa plant or hemp. The distribution channels for cannabinoids encompass hospital pharmacies, retail pharmacies, and online stores. Applications for cannabinoids span medical, recreational, and industrial hemp uses.

The cannabinoids protection market research report is one of a series of new reports from The Business Research Company that provides cannabinoids market statistics, including cannabinoids industry global market size, regional shares, competitors with a cannabinoids market share, detailed cannabinoids market segments, market trends and opportunities, and any further data you may need to thrive in the cannabinoids industry. This cannabinoids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cannabinoids market size has grown exponentially in recent years. It will grow from $33.1 billion in 2023 to $39.86 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The expansion observed in the historical period can be attributed to the legalization of medical cannabis, a growing societal acceptance of cannabis, increased research and development activities, regulatory changes, a rising awareness of the benefits of cannabinoids, investments in the cannabis industry, and evolving consumer trends favoring natural products. These factors collectively contributed to significant growth in the specified historical timeframe.

The cannabinoids market size is expected to see exponential growth in the next few years. It will grow to $84.38 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The anticipated growth in the forecast period can be attributed to broader legalization and decriminalization efforts, advancements in research, a diverse range of product offerings, expanding into international markets, and initiatives focused on public health awareness. Key trends expected in the forecast period include the increasing acceptance and destigmatization of cannabis, a diversification of product offerings, innovation in delivery methods, a heightened focus on quality and safety standards, and the implementation of social equity and inclusivity initiatives. These trends collectively contribute to the projected growth in the specified forecast timeframe.

The cannabinoid market is on an upward trajectory, propelled by the rising prevalence of chronic diseases. Chronic diseases, requiring prolonged medical attention, have prompted the examination of cannabinoids' effectiveness in treating chronic noncancer pain through systematic reviews of randomized controlled trials. According to a McKinsey report, the anticipated 20% rise in the US illness burden through 2040 and the revelation by the Center for Disease Control and Prevention that six in ten Americans live with at least one chronic disease underscore the growing prevalence of chronic diseases. This, in turn, is a significant driver for the growth of the cannabinoid market.

The increasing prevalence of cancer is also contributing to the growth of the cannabinoids market. Cannabinoids, such as CBD and THC, play a role in addressing various symptoms in cancer patients, including neuropathy, nausea, pain, vomiting, appetite, and weight loss. A report on cancer facts and figures by the American Cancer Society highlighted a rise in new cancer cases in the US, reaching 1.92 million in 2022 compared to 1.89 million in 2021. The therapeutic potential of cannabinoids in managing cancer-related symptoms is a key factor propelling the growth of the cannabinoids market.

Major companies in the cannabinoids market are strategically focusing on introducing advanced cannabis-based cosmetic solutions to gain a competitive edge. Cannabis-based cosmetic solutions, like CBG and CBD rescue cream, are formulated with cannabis derivatives to offer skin moisturizing, anti-aging, and anti-inflammatory effects. British Cannabis, a UK-based producer, introduced the Synergy CBG and CBD Rescue Cream, the first cannabis cosmetic in the UK to undergo clinical trials. This innovative product reflects a commitment to creating comprehensive skincare solutions in the cannabinoid market.

Innovation remains a driving force, with major companies launching novel products like Chill Bliss Cannabigerol (CBG) gummies. These gummies, containing CBG, a non-psychoactive cannabinoid, offer potential health benefits. Cronos Group, a Canada-based cannabinoid company, introduced SPINACH FEELZ Chill Bliss 2:1 THC|CBG gummy, featuring CBG and THC, aiming to provide unique experiences for customers. This illustrates the cannabinoid market's dynamic nature, with companies leveraging innovation to stay competitive.

Strategic acquisitions also play a role in shaping the landscape of the cannabinoids market. In June 2021, Canopy Growth Corporation, a major player in the cannabinoid market, acquired The Supreme Cannabis Company, including brands like 7ACRES. This acquisition enhances Canopy Growth Corporation's product portfolio, showcasing the industry's consolidation and the pursuit of a diverse range of brands.

Major companies operating in the cannabinoids market report are The Supreme Cannabis Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., Aurora Cannabis Inc., Innovative Ind Props, Curaleaf Holdings Inc., Green Thumb Industries, Verano Holdings, Trulieve Cannabis Corp., Cresco Labs Inc., Cronos Group, TerrAscend Corp., Canopy Growth Corp., Sundial Growers Inc., Decibel Cannabis Company, Auxly Cannabis Group, Red White & Bloom Brands, BZAM Ltd., Delta 9 Cannabis Inc., Mylan N.V., Westleaf Cannabis Inc., GrowGeneration, The Scotts Miracle-Gro Company, Jazz Pharmaceuticals PLC, Aphria Inc., Organigram Inc., Alkem labs, MediPharm Labs Corp., and The Valens GroWorks Inc.

North America was the largest region in the cannabinoids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabinoids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cannabinoids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cannabinoids market consists of sales of cannabidiolic acid, flowers/buds and concentrates. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12541

1. Executive Summary

2. Cannabinoids Market Characteristics

3. Cannabinoids Market Trends And Strategies

4. Cannabinoids Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Cannabinoids Market Size and Growth

5.1. Global Cannabinoids Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Cannabinoids Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Cannabinoids Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Cannabinoids Market Segmentation

6.1. Global Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cannabidiol
Tetrahydrocannabinol
Cannabinol
Other Product Types
6.2. Global Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospital Pharmacies
Retail Pharmacies
Online Stores
6.3. Global Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Medical
Recreational
Industrial Hemp

7. Cannabinoids Market Regional And Country Analysis

7.1. Global Cannabinoids Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Cannabinoids Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Cannabinoids Market

8.1. Asia-Pacific Cannabinoids Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Cannabinoids Market

9.1. China Cannabinoids Market Overview
9.2. China Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Cannabinoids Market

10.1. India Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Cannabinoids Market

11.1. Japan Cannabinoids Market Overview
11.2. Japan Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Cannabinoids Market

12.1. Australia Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Cannabinoids Market

13.1. Indonesia Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Cannabinoids Market

14.1. South Korea Cannabinoids Market Overview
14.2. South Korea Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Cannabinoids Market

15.1. Western Europe Cannabinoids Market Overview
15.2. Western Europe Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Cannabinoids Market

16.1. UK Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Cannabinoids Market

17.1. Germany Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Cannabinoids Market

18.1. France Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Cannabinoids Market

19.1. Italy Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Cannabinoids Market

20.1. Spain Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Cannabinoids Market

21.1. Eastern Europe Cannabinoids Market Overview
21.2. Eastern Europe Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Cannabinoids Market

22.1. Russia Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Cannabinoids Market

23.1. North America Cannabinoids Market Overview
23.2. North America Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Cannabinoids Market

24.1. USA Cannabinoids Market Overview
24.2. USA Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Cannabinoids Market

25.1. Canada Cannabinoids Market Overview
25.2. Canada Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Cannabinoids Market

26.1. South America Cannabinoids Market Overview
26.2. South America Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Cannabinoids Market

27.1. Brazil Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Cannabinoids Market

28.1. Middle East Cannabinoids Market Overview
28.2. Middle East Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Cannabinoids Market

29.1. Africa Cannabinoids Market Overview
29.2. Africa Cannabinoids Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Cannabinoids Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Cannabinoids Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Cannabinoids Market Competitive Landscape And Company Profiles

30.1. Cannabinoids Market Competitive Landscape
30.2. Cannabinoids Market Company Profiles
- 30.2.1. The Supreme Cannabis Company Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Elixinol Global Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. GW Pharmaceuticals PLC.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Tilray Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Aurora Cannabis Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Cannabinoids Market Competitive Benchmarking

32. Global Cannabinoids Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Cannabinoids Market

34. Cannabinoids Market Future Outlook and Potential Analysis

34.1 Cannabinoids Market In 2028 - Countries Offering Most New Opportunities
34.2 Cannabinoids Market In 2028 - Segments Offering Most New Opportunities
34.3 Cannabinoids Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer