Cannabinoids Market all set to rise at growth rate of 21.18% CAGR | Valuation at $42.89 Billion

NEW YORK, July 26, 2023 /PRNewswire/ -- The cannabinoids market is set to grow by USD 42.89 billion from 2022 to 2027, progressing at a CAGR of 21.18% during the forecast period.  Discover Leisure Products' industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The cannabinoids market covers the following areas:

• Cannabinoids Market Sizing
• Cannabinoids Market Forecast
• Cannabinoids Market Analysis

Vendor Landscape

The cannabinoids market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Vendor Offering

• Aurora Cannabis Inc. - The company offers cannabinoid solutions for medical institutions, hospitals, doctors, pharmacists, and patients across Europe to access safe and reliable cannabis-based medicines.
• Cronos Group Inc. - The company offers cannabinoid solutions through its subsidiary Spinach, PEACE NATURALS, and Lord Jones.
• Ecofibre Ltd - The company offers cannabinoid solutions such as Industrial hemp.

For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in minutes

Key Market Segmentation

The market is segmented by application (medical and non-medical), and channel (retail pharmacies, online stores, and hospitals)

• The market share growth by the medical segment will be significant during the forecast period. Traditional pain-relieving medications are being replaced by Medical cannabinoids. This is due to the various benefits it offers like easing various types of chronic pain, resulting from nerve damage and inflammation. Furthermore, Cannabis indica, Cannabis sativa, and hybrids are some of the types of cannabinoid plants used for chronic pain relief. Hence, these benefits are expected to drive segment growth during the forecast period.

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Regional Market Outlook

By geography, the market is segmented by North America, Europe, APAC, South America, and Middle East and Africa

• North America is estimated to contribute 90% to the growth of the global market during the forecast period. government initiatives to legalize medical cannabinoids are primarily driving market growth. THC in medical cannabinoids resembles the cannabinoid chemicals that occur in the body naturally. The use of cannabinoids has been legalized for medical purposes in the US and Canada. Hence, these factors are expected to drive market growth in the region during the forecast period.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Companies Mentioned

• Aurora Cannabis Inc.
• Canopy Growth Corp.
• Cresco Labs LLC
• Cronos Group Inc.
• CV Sciences Inc.
• Delta 9 Cannabis
• Ecofibre Ltd.
• INDIVA.com LLC.
• Jazz Pharmaceuticals Plc
• Medical Marijuana Inc.
• MediPharm Labs Inc.
• Medix CBD
• Medterra CBD
• MM Enterprises USA LLC
• Organigram Holdings Inc.
• STENOCARE AS
• Terrascend Canada
• Tilray Brands Inc.
• Trulieve Cannabis Corp.
• Unrivaled Brands Inc.

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Cannabinoids Market – Market Dynamics

Key Drivers

The increasing legalization of cannabinoids is a key factor driving market growth. The medical use of cannabis is now legalized in several nations. For instance, the US government introduced the Medical Cannabinoids and Cannabidiol Research Expansion Act in December 2022 to create a new registration system for cannabinoid research. Additionally, Malta became the first EU member to legalize the recreational use of cannabis. Hence, the legalization of cannabinoids by various governments is expected to drive market growth in the region during the forecast period.

Major Trends

The launch of medical cannabinoid education programs is a major trend in the market. The use of medical cannabis has been made legal by the governments of various nations, including the US, Canada, Columbia, Germany, and Greece. As a result, there are more dispensaries selling medical marijuana. People should therefore be informed about medical cannabinoids. As a result, numerous academic institutions are starting to offer educational programs on medical cannabinoids.

Significant Challenges

The side effects associated with the inappropriate use of medical cannabinoids are a significant challenge restricting market growth. Cannabis sativa refers to the active components of medical cannabinoids. They also contain additional substances, the quantity of which varies depending on the plan. It is difficult to determine the dosage of medicinal marijuana that patients need due to these considerations. In addition, severe side effects include sadness, an elevated heart rate, and trouble remembering and learning new things. Hence, these factors are expected to restrict market growth during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cannabinoids market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global cannabinoids market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Medical - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Medical - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Medical - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Medical - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Medical - Year-over-year growth 2022-2027 (%)

• 6.4 Non-medical - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Non-medical - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Non-medical - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Non-medical - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Non-medical - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ billion)
• Exhibit 43: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Channel

• 7.1 Market segments
• Exhibit 44: Chart on Channel - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Channel 
• Exhibit 46: Chart on Comparison by Channel
• Exhibit 47: Data Table on Comparison by Channel

• 7.3 Retail pharmacies - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Retail pharmacies - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Retail pharmacies - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Retail pharmacies - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Retail pharmacies - Year-over-year growth 2022-2027 (%)

• 7.4 Online stores - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Online stores - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Online stores - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Online stores - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Online stores - Year-over-year growth 2022-2027 (%)

• 7.5 Hospital - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Hospital - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Hospital - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Hospital - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Hospital - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Channel 
• Exhibit 60: Market opportunity by Channel ($ billion)
• Exhibit 61: Data Table on Market opportunity by Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 The Netherlands - Market size and forecast 2022-2027 
• Exhibit 95: Chart on The Netherlands - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on The Netherlands - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on The Netherlands - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on The Netherlands - Year-over-year growth 2022-2027 (%)

• 9.11 Australia - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Australia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Australia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Australia - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Australia - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Aurora Cannabis Inc.
• Exhibit 115: Aurora Cannabis Inc. - Overview
• Exhibit 116: Aurora Cannabis Inc. - Business segments
• Exhibit 117: Aurora Cannabis Inc. - Key offerings
• Exhibit 118: Aurora Cannabis Inc. - Segment focus

• 12.4 Canopy Growth Corp.
• Exhibit 119: Canopy Growth Corp. - Overview
• Exhibit 120: Canopy Growth Corp. - Business segments
• Exhibit 121: Canopy Growth Corp. - Key news
• Exhibit 122: Canopy Growth Corp. - Key offerings
• Exhibit 123: Canopy Growth Corp. - Segment focus

• 12.5 Cronos Group Inc.
• Exhibit 124: Cronos Group Inc. - Overview
• Exhibit 125: Cronos Group Inc. - Business segments
• Exhibit 126: Cronos Group Inc. - Key news
• Exhibit 127: Cronos Group Inc. - Key offerings
• Exhibit 128: Cronos Group Inc. - Segment focus

• 12.6 CV Sciences Inc.
• Exhibit 129: CV Sciences Inc. - Overview
• Exhibit 130: CV Sciences Inc. - Business segments
• Exhibit 131: CV Sciences Inc. - Key offerings
• Exhibit 132: CV Sciences Inc. - Segment focus

• 12.7 Delta 9 Cannabis
• Exhibit 133: Delta 9 Cannabis - Overview
• Exhibit 134: Delta 9 Cannabis - Product / Service
• Exhibit 135: Delta 9 Cannabis - Key offerings

• 12.8 Ecofibre Ltd.
• Exhibit 136: Ecofibre Ltd. - Overview
• Exhibit 137: Ecofibre Ltd. - Business segments
• Exhibit 138: Ecofibre Ltd. - Key offerings
• Exhibit 139: Ecofibre Ltd. - Segment focus

• 12.9 Jazz Pharmaceuticals Plc
• Exhibit 140: Jazz Pharmaceuticals Plc - Overview
• Exhibit 141: Jazz Pharmaceuticals Plc - Product / Service
• Exhibit 142: Jazz Pharmaceuticals Plc - Key news
• Exhibit 143: Jazz Pharmaceuticals Plc - Key offerings

• 12.10 Medical Marijuana Inc. 
• Exhibit 144: Medical Marijuana Inc. - Overview
• Exhibit 145: Medical Marijuana Inc. - Product / Service
• Exhibit 146: Medical Marijuana Inc. - Key offerings

• 12.11 MediPharm Labs Inc.
• Exhibit 147: MediPharm Labs Inc. - Overview
• Exhibit 148: MediPharm Labs Inc. - Product / Service
• Exhibit 149: MediPharm Labs Inc. - Key offerings

• 12.12 MM Enterprises USA LLC
• Exhibit 150: MM Enterprises USA LLC - Overview
• Exhibit 151: MM Enterprises USA LLC - Product / Service
• Exhibit 152: MM Enterprises USA LLC - Key offerings

• 12.13 Organigram Holdings Inc. 
• Exhibit 153: Organigram Holdings Inc. - Overview
• Exhibit 154: Organigram Holdings Inc. - Product / Service
• Exhibit 155: Organigram Holdings Inc. - Key offerings

• 12.14 STENOCARE AS
• Exhibit 156: STENOCARE AS - Overview
• Exhibit 157: STENOCARE AS - Product / Service
• Exhibit 158: STENOCARE AS - Key offerings

• 12.15 Tilray Brands Inc.
• Exhibit 159: Tilray Brands Inc. - Overview
• Exhibit 160: Tilray Brands Inc. - Business segments
• Exhibit 161: Tilray Brands Inc. - Key offerings
• Exhibit 162: Tilray Brands Inc. - Segment focus

• 12.16 Trulieve Cannabis Corp. 
• Exhibit 163: Trulieve Cannabis Corp. - Overview
• Exhibit 164: Trulieve Cannabis Corp. - Product / Service
• Exhibit 165: Trulieve Cannabis Corp. - Key offerings

• 12.17 Unrivaled Brands Inc. 
• Exhibit 166: Unrivaled Brands Inc. - Overview
• Exhibit 167: Unrivaled Brands Inc. - Business segments
• Exhibit 168: Unrivaled Brands Inc. - Key offerings
• Exhibit 169: Unrivaled Brands Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations
• Exhibit 176: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: [email protected]
Website: www.technavio.com

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