Cannabis Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Cannabis Industry Report is Segmented by Product Type (Capsules, Concentrates, Edibles, and Other Product Types), Application (Medical and Recreational), Compound Type (Tetrahydrocannabinol (THC), Cannabidiol (CBD), and Balanced THC and CBD), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Forecasts for all the Above Segments in Value (USD).

Cannabis Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Cannabis Market Size

Cannabis Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 39.05 Billion
Market Size (2030) USD 79.92 Billion
CAGR (2025 - 2030) 15.40 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Low

Major Players

Cannabis Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Cannabis Market Analysis

The Cannabis Market size is estimated at USD 39.05 billion in 2025, and is expected to reach USD 79.92 billion by 2030, at a CAGR of 15.4% during the forecast period (2025-2030).

The cannabis market offers various items divided into recreational and medicinal uses. While medicinal usage is becoming more broadly accepted, the recreational use of cannabis is likely to rise in tandem with increased tolerance and official legalization globally. The market growth has been fueled by the continued adoption of legal medical or recreational cannabis in more countries worldwide and high-profile achievements from some of the industry's emerging top contenders. With the first cannabis-based drug receiving approval from the US Food and Drug Administration (FDA), many investors have started legal marijuana operations in the last eight years.

The medicinal properties of cannabis, increasing advances in genetic development, and intellectual property on cannabis may expand the global market over the coming years. According to Harvard University, the most common use for medical cannabis in the United States is for pain control. In 2020, about 85% of Americans supported legalizing medical cannabis, and it is estimated that at least several million Americans currently use it.

In May 2024, the Cannabis for Private Purposes Act made South Africa the first African nation to legalize the use of marijuana in the region. Africa offers enormous opportunities to local start-ups and foreign companies looking to expand, with affordable land, low-cost labor, and an experienced agricultural workforce. However, even if medicinal cannabis were to be legalized across the continent, access to products would be restricted due to a lack of healthcare infrastructure.

According to a report by the United Nations' International Narcotics Control Board, the United Kingdom was the largest producer and exporter of legalized cannabis for medical and research purposes prior to legalization. As a result, it is projected that the legalization of cannabis in Europe is expected to boost the cannabis industry during the review period.

Cannabis Industry Overview

The global cannabis market is highly fragmented by various major and small players competing to increase market share. Aphria Inc., MedMen Enterprises, Jazz Pharmaceuticals Inc., Aurora Cannabis Inc., and Canopy Growth Corp are the prominent players in the market studied. As per the key developments observed during the review period, mergers and acquisitions and product launches are the most adopted strategies by the dominant players in the market. Moreover, key players are investing heavily in R&D to launch innovative products according to the customer's needs. These dominant players have also been expanding their businesses by adopting various strategies, such as expansions, partnerships, and product innovations.

Cannabis Market Leaders

  1. Canopy Growth Corp.

  2. Aurora Cannabis Inc.

  3. Jazz Pharmaceuticals, Inc.

  4. Aphria Inc.

  5. MedMen Enterprises

  6. *Disclaimer: Major Players sorted in no particular order
Cannabis Market Concentration
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Cannabis Market News

May 2023: Toast collaborated with The Nirvana Group to expand innovative new cannabis product offerings in New Mexico and Oklahoma provinces of the United States.

April 2023: Hello Juice collaborated with The Beleaf Co. to launch a new product line of cannabidiol (CBD)-infused juice shots.

Cannabis Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Legalization of Cannabis
    • 4.2.2 Growing Focus on Health Benefits of Cannabis
  • 4.3 Market Restraints
    • 4.3.1 Lack of Data on Dosages and Results
    • 4.3.2 Lack of Access to Financial Assistance
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Product Type
    • 5.1.1 Capsules
    • 5.1.2 Concentrates
    • 5.1.3 Edibles
    • 5.1.4 Other Product Types
  • 5.2 Application
    • 5.2.1 Medical
    • 5.2.2 Recreational
  • 5.3 Compound Type
    • 5.3.1 Tetrahydrocannabinol (THC)
    • 5.3.2 Cannabidiol (CBD)
    • 5.3.3 Balanced THC and CBD
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
    • 5.4.1.4 Rest of North America
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 Czech Republic
    • 5.4.2.3 Croatia
    • 5.4.2.4 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 Australia
    • 5.4.3.2 Thailand
    • 5.4.3.3 Rest of Asia-Pacific
    • 5.4.4 South America
    • 5.4.4.1 Argentina
    • 5.4.4.2 Chile
    • 5.4.4.3 Peru
    • 5.4.4.4 Rest of South America
    • 5.4.5 Middle East and Africa
    • 5.4.5.1 South Africa
    • 5.4.5.2 Lebanon
    • 5.4.5.3 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Most Adopted Strategies
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles
    • 6.3.1 Tilray
    • 6.3.2 Canopy Growth Corp.
    • 6.3.3 Jazz Pharmaceuticals
    • 6.3.4 Aurora Cannabis Inc.
    • 6.3.5 Aphria Inc.
    • 6.3.6 MedMen Enterprises
    • 6.3.7 CV Sciences Inc.
    • 6.3.8 Delta 9 Cannabis
    • 6.3.9 Cannimed Therapeutics Inc.
    • 6.3.10 Vivo Cannabis
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Cannabis Industry Segmentation

Cannabis is a tall plant with a stiff upright stem used as a drug for recreational and entheogenic purposes and is being legalized for its medical usage. 

The cannabis market is segmented by product type (capsules, concentrates, edibles, and other product types), application (medical and recreational), compound type (tetrahydrocannabinol (THC), cannabidiol (CBD), and balanced THC & CBD), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and forecasts for all the above segments in value (USD).

Product Type Capsules
Concentrates
Edibles
Other Product Types
Application Medical
Recreational
Compound Type Tetrahydrocannabinol (THC)
Cannabidiol (CBD)
Balanced THC and CBD
Geography North America United States
Canada
Mexico
Rest of North America
Geography Europe Germany
Czech Republic
Croatia
Rest of Europe
Geography Asia-Pacific Australia
Thailand
Rest of Asia-Pacific
Geography South America Argentina
Chile
Peru
Rest of South America
Geography Middle East and Africa South Africa
Lebanon
Rest of Middle East and Africa
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Cannabis Market Research Faqs

How big is the Cannabis Market?

The Cannabis Market size is expected to reach USD 39.05 billion in 2025 and grow at a CAGR of 15.40% to reach USD 79.92 billion by 2030.

What is the current Cannabis Market size?

In 2025, the Cannabis Market size is expected to reach USD 39.05 billion.

Who are the key players in Cannabis Market?

Canopy Growth Corp., Aurora Cannabis Inc., Jazz Pharmaceuticals, Inc., Aphria Inc. and MedMen Enterprises are the major companies operating in the Cannabis Market.

Which is the fastest growing region in Cannabis Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Cannabis Market?

In 2025, the North America accounts for the largest market share in Cannabis Market.

What years does this Cannabis Market cover, and what was the market size in 2024?

In 2024, the Cannabis Market size was estimated at USD 33.04 billion. The report covers the Cannabis Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Cannabis Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Cannabis Industry Report

This comprehensive report offers a deep dive into the cannabis industry, providing a detailed analysis of key market drivers and market segments. Mordor Intelligence offers customization based on your specific interests, including: 1. Product Type: Flowers, Buds, Topicals & Tinctures 2. Application: Industrial Hemp

Cannabis Market Report Snapshots