Cannabis Market Growth, Trends, and Analysis by 2031

Historic Data: 2021-2023 | Base Year: 2024 | Forecast Period: 2025-2031

Coverage: Cannabis Market covers analysis By Product Type (Flower, Concentrates, and Others), Application (Medical and Recreational), and Compound [Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, Balanced THC and CBD], and Geography (North America, Europe, Asia Pacific, and South and Central America)

Report Date : Aug 2025
Report Code : TIPRE00003973

Category : Life Sciences
Status : Upcoming

Available Report Formats :
No. of Pages : 215

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Cannabis Market is expected to register a CAGR of 34.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The Cannabis Market report covers analysis By Product Type (Flower, Concentrates, and Others), Application (Medical and Recreational), and Compound [Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant, Balanced THC and CBD]. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Cannabis Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Cannabis Market Segmentation

Product Type

Flower
Concentrates

Application

Medical
Recreational

Compound [Tetrahydrocannabinol-Dominant, Cannabidiol-Dominant, Balanced THC and CBD]

Geography

North America
Europe
Asia-Pacific
South and Central America
Middle East and Africa

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Cannabis Market: Strategic Insights

Get Top Key Market Trends of this report.
This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Cannabis Market Growth Drivers

Increasing Legalization Across Global Markets: Market size will grow as legalization for medical as well as recreational cannabis is increasing across the globe.
Rising Medical Usage Trends: Market trends indicate greater usage of cannabis in chronic pain and neurological disorder treatments, helping the market to grow through the world.
Product formats innovations: Competitive analysis reveals various new delivery methods such as edibles and topicals, capturing diverse consumer preferences and extending the market.

Cannabis Market Future Trends

Diverse Product Offerings: The market is shifting towards innovative product formats, including edibles, beverages, oils, and topicals, catering to diverse consumer preferences.
Focus on CBD: Cannabidiol (CBD), a non-psychoactive compound, is gaining popularity in health and wellness products, attracting health-conscious consumers.
Sustainability Initiatives: The cannabis industry is adopting eco-friendly cultivation and production practices to reduce its environmental impact.

Cannabis Market Opportunities

Emerging Markets: Countries in Asia-Pacific, Latin America, and Europe are exploring cannabis legalization, presenting new growth opportunities.
R&D for Medical Innovations: Investments in research are expanding the understanding of cannabis applications in medicine, opening new avenues for product development.
Partnerships and Collaborations: Collaborations between cannabis companies and pharmaceutical or consumer goods companies are fostering innovation and market penetration.

Cannabis Market Regional Insights

The regional trends and factors influencing the Cannabis Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cannabis Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Get the Regional Specific Data for Cannabis Market

Cannabis Market Report Scope

Report Attribute	Details
Market size in 2024	US$ XX million
Market Size by 2031	US$ XX Million
Global CAGR (2025 - 2031)	34.2%
Historical Data	2021-2023
Forecast period	2025-2031
Segments Covered	By Product Type Flower Concentrates By Application Medical Recreational By Compound [Tetrahydrocannabinol-Dominant, Cannabidiol-Dominant, Balanced THC and CBD]
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Aphria, Inc. Aurora Cannabis Cannabis Science, INC. Canopy Growth Corporation Medical Marijuana, Inc. VIVO Cannabis Inc. Tikun Olam Terra Tech Corp. Tilray

Cannabis Market Players Density: Understanding Its Impact on Business Dynamics

The Cannabis Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Cannabis Market are:

Aphria, Inc.
Aurora Cannabis
Cannabis Science, INC.
Canopy Growth Corporation
Medical Marijuana, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Get the Cannabis Market top key players overview

Key Selling Points

Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cannabis Market, providing a holistic landscape.
Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Cannabis Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

Frequently Asked Questions

What are the options available for the customization of this report?

Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

What are the deliverable formats of this report?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

Which are the key players in the Cannabis Market?

Key companies of this market are: Aphria, Inc., Aurora Cannabis, Cannabis Science, INC., Canopy Growth Corporation, Medical Marijuana, Inc., VIVO Cannabis Inc., Tikun Olam, Terra Tech Corp., Tilray

What are the future trends in the Cannabis Market?

Key future trends in this market are - Legalization and Regulatory Changes, Growth in Medicinal Cannabis Applications, Advancements in Extraction Technologies

What is the expected CAGR of the Cannabis Market?

The Cannabis Market is estimated to witness a CAGR of 34.2% from 2023 to 2031.

What are the driving factors impacting the Cannabis Market?

The major factors driving the market are: Increasing legalization worldwide, Rising medical cannabis applications, Innovations in cannabis products.

Research Manager

Mrinal Kerhalkar

Manager,
Market Research & Consulting

Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

What are the Cannabis Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Cannabis Market Report Snapshots

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