Cannabinoids Market Size, Share & Analysis Report, 2022-2030
The global Cannabinoids market size was estimated at USD 22.7 billion in 2021 and is expected to surpass around USD 154.9 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 22.9% during the forecast period 2022 to 2030.
Overview of Global Cannabinoids Market
Cannabinoids are derived from phytocannabinoids, endocannabinoids, and synthetic cannabinoids; and are used for medical applications. Major cannabinoids and minor cannabinoids are the two types of cannabinoids. Major cannabinoids include tetrahydrocannabinol and cannabidiol. Minor cannabinoids include cannabinoids, cannabidivarin, and cannabigerol. Cannabinoid synthesis in plants in small amounts is termed as minor cannabinoids. Rise in interest in the potential usage of cannabis in various medical conditions as well as research on the adverse health effects from use of cannabis is encouraging governments of countries across the globe to support the sale of CBD oil at hospital pharmacies and physician offices. This is projected to drive the global cannabinoids market in the near future.
Technological advancements have led to the introduction of new plant cloning techniques in the market. GW Pharmaceuticals launched its lead cannabinoid product Epidiolex in 2018. It is a pharmaceutical formulation comprising highly purified plant derived cannabidiol, for which the company retains global commercial rights.
Report Scope of the Cannabinoids Market
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Report Coverage |
Details |
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Market Size |
USD 154.9 Billion by 2030 |
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Growth Rate |
CAGR of 22.9% from 2022 to 2030 |
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Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Product Type, Application, Distribution Channel And Geography, |
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Companies Mentioned |
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Rise in Research & Development and Growth in Investment in Medical Cannabinoids to Drive Global Cannabinoids Market
The medical cannabis industry is expanding with advances in the use of cannabidiol (CBD). Usage of cannabidiol has increased due to rise in legalization of cannabidiol in various countries. Additionally, the FDA approval for CBD products for epilepsy treatment is promoting their usage in the pharmaceutical industry. Therefore, companies would continue to come up with medical solutions with improved CBD-based medicines. For instance, SanSal Wellness is working on the research & development of improved hemp genetics and innovation, providing uncompromising high quality hemp products to the global community. In 2019, the Government of Australia declared investment of US$ 3 Mn for research in medical cannabis. Thus, rise in research & development and investment in medical cannabinoids are likely to drive the global market.
Health Benefits of Medical Cannabis to Boost Demand for Cannabinoids
Medical hashish is a popular herbal treatment used to treat unusual ailments. Around 104 chemical compounds called cannabinoids have been discovered in a hashish or marijuana plant, which can play an important role in the remedy of one-of-a-kind diseases. Tetrahydrocannabinol (THC) is the leading psychoactive cannabinoid discovered in hashish, which offers greater alleviation from aches and different signs & symptoms without the mind-altering outcomes of marijuana. CBD is probably used to lessen persistent ache by means of impacting endocannabinoid receptor activity, decreasing inflammation, and interacting with neurotransmitters. For instance, Sativex, an oil spray, is an aggregate of tetrahydrocannabinol (THC) and cannabidiol (CBD); and is permitted in many countries to treat aches associated with multiple sclerosis.
Growth in Usage of Cannabidiol (CBD) to Overcome Anxiety and Pain to Boost Market
In terms of product, the global cannabinoids market has been classified into cannabidiol, tetrahydrocannabinol, and others. The cannabidiol segment accounted for major share of the global market in 2021. The segment is expected to expand at a CAGR of around 22.2% from 2022 to 2030. Cannabidiol is less psychoactive to neutralize the reactive oxygen species, which makes it a crucial contributor to anti-inflammatory effects. Cannabidiol is derived from hemp and marijuana; hence, it helps patients overcome anxiety and pain. Cannabis-infused products are also popular among end-users across the globe. Companies in the global cannabinoid market are focusing on increasing the manufacture of cannabidiol products that are safe for consumption.
Non-medical Applications of Cannabinoids Creating Opportunities for Market Players
Based on application, the global cannabinoids market has been divided into medical
and non-medical use. The non-medical use segment accounted for the largest share of the global market in 2021. The segment is expected to expand at a CAGR of about 19% from 2022 to 2031 due to the increase in usage of cannabis in food, cosmetics, and textile industries. CBD edibles such as gummies and cannabis-infused chocolate bars are increasingly popular among end-users. They possess antioxidant properties and help relieve stress and depression.
Increase in Number of Retail Pharmacies & Stores Selling Cannabinoids Products to Drive Market
In terms of distribution channel, the global cannabinoids market has been divided into hospitals, retail pharmacies & stores, and online stores. The retail pharmacies & stores segment accounted for the largest share of the global market in 2021. The segment is expected to expand at a high CAGR of about 22.4% from 2022 to 2030. The number of retail pharmacies and stores selling cannabinoids products is increasing due to the legalization of cannabinoids in many countries. Companies in the cannabinoids market are developing innovative products to meet consumer demand. Hospital pharmacies and retail pharmacies are focusing on offering innovative cannabinoid products.
Regional Outlook of Cannabinoids Market
North America dominated the global market in 2021. The market in the region is projected to expand at a CAGR of about 18% from 2022 to 2030. The U.S. and Canada have legalized recreational cannabis, which is driving the market in the region. Rise in chronic diseases such as cancer, Alzheimer’s, and multiple sclerosis has boosted the demand for synthetic cannabinoids in surgeries and chemotherapies. Government support has encouraged local cannabis traders to invest in indoor facilities for cultivation. This is likely to boost the market in North America.
The market in Europe is anticipated to expand at a CAGR of about 37.8% during the forecast period. Large economies in Europe are moving toward liberalization of cannabinoids. The Netherlands is the most mature medical cannabis market in the region. Germany is the economic powerhouse of Europe, with a geriatric population of over 20 million; of this, 80% to 90% is covered under statutory health insurance, which makes up for the cost of medical cannabis.
Analysis of Key Players in Global Cannabinoids Market
The global cannabinoids market is consolidated with a small number of large companies accounting for majority of the share. Most of the firms are making significant investments in research and development activities. Expansion of product portfolios and mergers & acquisitions are the key strategies adopted by key players. Prominent players operating in the market include Mylan N.V. (Viatris Inc.), Alkem Labs, GW Pharmaceuticals plc, Tilray, Inc., Aurora Cannabis, Inc., Canopy Growth Corporation, and The Cronos Group.
Key Developments in Global Cannabinoids Market
Some of the prominent players in the Cannabinoids Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Cannabinoids market
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders
Chapter 1. Introduction
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Cannabinoids Market
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Global Cannabinoids Market Analysis and Forecast, 2017–2030
4.3.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Porter's Five Forces Analysis
5.2. PESTLE Analysis
5.3. Cannabis Genetics: Overview & Analysis
5.4. Regulatory Scenario, by Region/Globally
5.5. Pricing Analysis
5.6. List of key Competitors
5.7. COVID-19 Impact Analysis
5.8. Key Industry Development
6. Global Cannabinoids Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2017–2030
6.3.1. Cannabidiol
6.3.2. Tetrahydrocannabinol
6.3.3. Cannabinol
6.3.4. Others
6.4. Market Attractiveness Analysis, by Product Type
7. Global Cannabinoids Market Analysis and Forecast, by Distribution Channel
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Distribution Channel, 2017–2030
7.3.1. Hospitals Pharmacies
7.3.2. Retail Pharmacies
7.3.3. Online Stores
7.4. Market Attractiveness Analysis, by Distribution Channel
8. Global Cannabinoids Market Analysis and Forecast, by Application
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Market Value Forecast, by Application, 2017–2030
8.3.1. Medicinal Use
8.3.1.1. Chronic Pain
8.3.1.2. Neurological Disorders Management
8.3.1.3. Oncology
8.3.1.4. Others
8.3.2. Non-medical Use
8.4. Market Attractiveness Analysis, by Application
9. Global Cannabinoids Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Market Value Forecast, by Region
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Market Attractiveness Analysis, by Region
10. North America Cannabinoids Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product Type, 2017–2030
10.2.1. Cannabidiol
10.2.2. Tetrahydrocannabinol
10.2.3. Cannabinol
10.2.4. Others
10.3. Market Value Forecast, by Distribution Channel, 2017–2030
10.3.1. Hospitals Pharmacies
10.3.2. Retail Pharmacies
10.3.3. Online Stores
10.4. Market Value Forecast, by Application, 2017–2030
10.4.1. Medicinal Use
10.4.1.1. Chronic Pain
10.4.1.2. Neurological Disorders Management
10.4.1.3. Oncology
10.4.1.4. Others
10.4.2. Non-medical Use
10.5. Market Value Forecast, by Country, 2017–2030
10.5.1. U.S.
10.5.2. Canada
10.6. Market Attractiveness Analysis
10.6.1. By Product Type
10.6.2. By Distribution Channel
10.6.3. By Application
10.6.4. By Country
11. Europe Cannabinoids Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product Type, 2017–2030
11.2.1. Cannabidiol
11.2.2. Tetrahydrocannabinol
11.2.3. Cannabinol
11.2.4. Others
11.3. Market Value Forecast, by Distribution Channel, 2017–2030
11.3.1. Hospitals Pharmacies
11.3.2. Retail Pharmacies
11.3.3. Online Stores
11.4. Market Value Forecast, by Application, 2017–2030
11.4.1. Medicinal Use
11.4.1.1. Chronic Pain
11.4.1.2. Neurological Disorders Management
11.4.1.3. Oncology
11.4.1.4. Others
11.4.2. Non-medical Use
11.5. Market Value Forecast, by Country/Sub-region, 2017–2030
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Italy
11.5.5. Spain
11.5.6. Rest of Europe
11.6. Market Attractiveness Analysis
11.6.1. By Product Type
11.6.2. By Distribution Channel
11.6.3. By Application
11.6.4. By Country/Sub-region
12. Asia Pacific Cannabinoids Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Product Type, 2017–2030
12.2.1. Cannabidiol
12.2.2. Tetrahydrocannabinol
12.2.3. Cannabinol
12.2.4. Others
12.3. Market Value Forecast, by Distribution Channel, 2017–2030
12.3.1. Hospitals Pharmacies
12.3.2. Retail Pharmacies
12.3.3. Online Stores
12.4. Market Value Forecast, by Application, 2017–2030
12.4.1. Medicinal Use
12.4.1.1. Chronic Pain
12.4.1.2. Neurological Disorders Management
12.4.1.3. Oncology
12.4.1.4. Others
12.4.2. Non-medical Use
12.5. Market Value Forecast, by Country/Sub-region, 2017–2030
12.5.1. Japan
12.5.2. India
12.5.3. Australia & New Zealand
12.5.4. Rest of Asia Pacific
12.6. Market Attractiveness Analysis
12.6.1. By Product Type
12.6.2. By Distribution Channel
12.6.3. By Application
12.6.4. By Country/Sub-region
13. Latin America Cannabinoids Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Product Type, 2017–2030
13.2.1. Cannabidiol
13.2.2. Tetrahydrocannabinol
13.2.3. Cannabinol
13.2.4. Others
13.3. Market Value Forecast, by Distribution Channel, 2017–2030
13.3.1. Hospitals Pharmacies
13.3.2. Retail Pharmacies
13.3.3. Online Stores
13.4. Market Value Forecast, by Application, 2017–2030
13.4.1. Medicinal Use
13.4.1.1. Chronic Pain
13.4.1.2. Neurological Disorders Management
13.4.1.3. Oncology
13.4.1.4. Others
13.4.2. Non-medical Use
13.5. Market Value Forecast, by Country/Sub-region, 2017–2030
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Market Attractiveness Analysis
13.6.1. By Product Type
13.6.2. By Distribution Channel
13.6.3. By Application
13.6.4. By Country/Sub-region
14. Middle East & Africa Cannabinoids Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Market Value Forecast, by Product Type, 2017–2030
14.2.1. Cannabidiol
14.2.2. Tetrahydrocannabinol
14.2.3. Cannabinol
14.2.4. Others
14.3. Market Value Forecast, by Distribution Channel, 2017–2030
14.3.1. Hospitals Pharmacies
14.3.2. Retail Pharmacies
14.3.3. Online Stores
14.4. Market Value Forecast, by Application, 2017–2030
14.4.1. Medicinal Use
14.4.1.1. Chronic Pain
14.4.1.2. Neurological Disorders Management
14.4.1.3. Oncology
14.4.1.4. Others
14.4.2. Non-medical Use
14.5. Market Value Forecast, by Country/Sub-region, 2017–2030
14.5.1. South Africa
14.5.2. Israel
14.5.3. Rest of Middle East & Africa
14.6. Market Attractiveness Analysis
14.6.1. By Product Type
14.6.2. By Distribution Channel
14.6.3. By Application
14.6.4. By Country/Sub-region
15. Competition Landscape
15.1. Market Player - Competition Matrix (by tier and size of companies)
15.2. Company Profiles
15.2.1. Mylan N.V. (Viatris Inc.)
15.2.1.1. Company Overview
15.2.1.2. Financial Overview
15.2.1.3. Product Portfolio
15.2.1.4. Business Strategies
15.2.1.5. Recent Developments
15.2.2. Alkem Labs
15.2.2.1. Company Overview
15.2.2.2. Financial Overview
15.2.2.3. Product Portfolio
15.2.2.4. Business Strategies
15.2.2.5. Recent Developments
15.2.3. GW Pharmaceuticals plc
15.2.3.1. Company Overview
15.2.3.2. Financial Overview
15.2.3.3. Product Portfolio
15.2.3.4. Business Strategies
15.2.3.5. Recent Developments
15.2.4. Tilray, Inc.
15.2.4.1. Company Overview
15.2.4.2. Financial Overview
15.2.4.3. Product Portfolio
15.2.4.4. Business Strategies
15.2.4.5. Recent Developments
15.2.5. Aurora Cannabis, Inc.
15.2.5.1. Company Overview
15.2.5.2. Financial Overview
15.2.5.3. Product Portfolio
15.2.5.4. Business Strategies
15.2.5.5. Recent Developments
15.2.6. Canopy Growth Corporation
15.2.6.1. Company Overview
15.2.6.2. Financial Overview
15.2.6.3. Product Portfolio
15.2.6.4. Business Strategies
15.2.6.5. Recent Developments
15.2.7. The Cronos Group
15.2.7.1. Company Overview
15.2.7.2. Financial Overview
15.2.7.3. Product Portfolio
15.2.7.4. Business Strategies
15.2.7.5. Recent Developments
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers