#Legal Cannabis Market Forecast

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Legal Cannabis Market Size-Share, Growth Factors, Forecast 2023-2030

Global Legal Cannabis Market is expected to grow at a significant growth rate, and the forecast period is 2023-2030, considering the base year as 2022.

The Legal Cannabis Market has experienced unprecedented growth in recent years, driven by changing societal attitudes towards cannabis, increasing legalization efforts, and the recognition of its potential economic benefits. As more regions around the world embrace cannabis for medical and recreational use, the market has evolved into a dynamic and multifaceted industry. The market encompasses a wide range of products, including cannabis flower, edibles, concentrates, and pharmaceuticals, creating a diverse landscape with numerous opportunities for both established players and new entrants.

Leading Key Players Covered Legal Cannabis Market: -

Canopy Growth Corporation (Canada), Aphria Inc. (Canada), VIVO marijuana Inc. (Canada), OrganiGram Holding Inc. (Canada), Aurora marijuana Inc. (Canada), The Green Organic Dutchman (Canada), Atlas Growers (Canada), Maricann Group, Inc. (Canada), Tilray Inc. (Canada), Terra Tech Corp. (US), Stenocare A/S (Denmark), HEXO Corp. (Canada), Medical Cannabis Inc. (US), AlephSana GmbH (Germany), Tikun Olam Ltd. (Israel), Cannabis Science Inc. (US) and Other Major Players

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Market Driver:

One significant market driver propelling the Legal Cannabis Market is the growing acceptance of cannabis for medicinal purposes. Increasing awareness of the therapeutic properties of cannabis, along with a shift in regulatory frameworks favoring medical cannabis use, has fueled demand. The expanding list of medical conditions where cannabis is prescribed, such as chronic pain, epilepsy, and anxiety, is driving the market's growth. As more scientific research validates the medical efficacy of cannabis, it not only enhances consumer confidence but also attracts investments and stimulates innovation in product development.

Market Opportunity:

A key market opportunity lies in the emerging trend of cannabis-infused products and beverages. The shift towards alternative consumption methods, such as edibles and beverages, presents a vast opportunity for market players. As consumers seek discreet and convenient ways to incorporate cannabis into their lifestyles, the market for infused products is expected to witness significant growth. This includes a wide range of offerings, from cannabis-infused snacks and beverages to more sophisticated formulations catering to specific health and wellness needs. Companies that can successfully navigate this segment stand to capitalize on the evolving preferences of consumers.

Segmentation of Legal Cannabis Market: -

By Type          

By Product Type       

By Sales Channel       

By Application          

By End-User   

By Region      

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Cannabis Pharmaceuticals Market: Opportunities for Investors

Cannabis Pharmaceuticals Industry Overview

The global Cannabis Pharmaceuticals Market reached an estimated size of USD 3.4 billion in 2023 and is forecast to grow at a robust CAGR of 53.3% from 2024 to 2030. This growth is primarily attributed to increased awareness of medicinal cannabidiol (CBD) drugs and a growing trend towards prescribing cannabis-based medications. A significant driver is the rising adoption of pharmaceutical products containing cannabis for various medical disorders, including chronic pain, sleep disorders, anorexia, inflammation, schizophrenia, multiple sclerosis, and epilepsy.

Fueling this market expansion is the increasing number of clinical trials demonstrating the positive effects of cannabis pharmaceuticals in treating conditions like multiple sclerosis, epilepsy, chronic pain, and cancer. A Royal Australian College of General Practitioners (RACGP) study from October 2021 reported over 5.5 million Australians with chronic pain using cannabis as medication. Furthermore, over 125,000 SAS-B approvals were issued by July 2021, with over 60% for chronic pain. These positive clinical outcomes are shifting patient and healthcare professional perspectives on cannabis-based pharmaceuticals. As of 2023, ClinicalTrials.gov listed around 847 active studies for Sativex and approximately 401 for Epidiolex.

Detailed Segmentation:

Brand Type Insights

Based on brand type, the Epidiolex segment led the market and accounted for 48.6% of the global revenue in 2023. Epidiolex is a prescription-based medicine that is utilized for the treatment of seizures associated with Dravet syndrome and Lennox-Gastaut syndrome detected in patients aged 1 year & above. In the European Union, it is approved in 27 countries, along with Liechtenstein, Iceland, and Norway. Growing awareness, clinical trials, and research claiming positive applications of the drug on certain medical conditions are expected to increase the adoption of Epidiolex over the forecast period.

Sativex is expected to grow at a lucrative rate over the forecast period. The increasing number of approvals for this medication for the treatment of symptoms such as spasticity caused due to multiple sclerosis in different countries is expected to boost the growth of this brand over the forecast period. In addition, as of 2023, Sativex had been approved in around 29 countries for the treatment of muscle spasticity associated with multiple sclerosis. Moreover, an increase in the number of clinical trials of the drug for other medical conditions such as spinal cord injury, posttraumatic stress disorder, neurological conditions, chronic pain, and cancer is further expected to drive the market over the forecast period.

Regional Insights

The cannabis pharmaceutical market in Europe accounted for the largest revenue share of 41.9% globally. This is attributed to increasing cannabis consumption, rising awareness, and positive attitudes towards cannabis and its products. The presence of major manufacturers and various initiatives by key cannabis players in the region support the market growth. For instance, in August 2020, INFORMED I.P., a regulatory authority in Portugal, granted a license to Clever Leaves, a provider of legal cannabis, for the cultivation, import, and export of medical cannabis.

North America is the second largest cannabis pharmaceuticals market worldwide, owing to the rising awareness regarding the medical benefits of cannabis-based products, the easy availability of cannabis-based medicines, and the large distribution network of Sativex in the Canadian markets. Furthermore, the region has a large number of patients suffering from mental disorders, chronic pain, and cancer. These individuals depend more on cannabis-based products as compared to traditionally available pharmaceutical products owing to its high efficiency. This is further anticipated to drive the market in the region over the forecast period.

Gather more insights about the market drivers, restraints, and growth of the Cannabis Pharmaceuticals Market

Key Companies & Market Share Insights

Companies are turning to expansion in their product portfolios as well as expansion through mergers and acquisitions of small players in the industry. For instance, June 2023 marked a partnership between Avicanna Inc., a cannabinoid-based pharmaceutical company, and the Canadian Consortium for the Investigation of Cannabinoids to develop an educational course accessible to the medical community across Canada.

Key Cannabis Pharmaceuticals Companies:

The following are the leading companies in the cannabis pharmaceuticals market. These companies collectively hold the largest market share and dictate industry trends.

Jazz Pharmaceuticals, Inc.

AbbVie, Inc.

Insys Therapeutics, Inc.

Bausch Health Companies, Inc.

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Recent Developments

In September 2023, SOMAÍ Pharmaceuticals, a European manufacturer of pharmaceutical cannabis products, received authorization from the Portuguese Health Authority INFRAMED to produce, import, and export for its facility in Lisbon, Portugal.

In August 2023, Avicanna Inc. completed the acquisition of the Medical Cannabis by Shoppers operation from Shoppers Drug Mart, subsequently introducing a new medical cannabis care platform called MyMedi.ca.

In February 2023, Aurora Cannabis Inc., a Canadian company, partnered with MedReleaf Australia to introduce CraftPlant, a new medical cannabis brand. This launch introduced three innovative products, Navana, HiVolt, and Greendae, to serve the Australian patient community.

In January 2023, Celadon Pharmaceuticals Plc declared that the UK Medicines and Healthcare Products Regulatory Agency (MRHA) had officially registered its cannabis active pharmaceutical ingredient at its Midlands facility in the UK, meeting the Good Manufacturing Practice (GMP) standards.

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Key Drivers Fueling Growth in the Cannabis Beverages Market

The global cannabis beverages market is forecasted to reach a valuation of USD 3.86 billion by the year 2030, according to industry projections. This market is expected to expand at a compound annual growth rate (CAGR) of 19.2% over the period from 2024 to 2030, reflecting strong momentum and growing consumer interest. A key characteristic of this market is its highly fragmented structure, which is due to the significant presence of numerous small and medium-sized enterprises actively participating in the space. A considerable number of these companies are based in Canada, a country that has fully legalized marijuana for both medical and recreational purposes, making it a hub for innovation and development within the cannabis beverage industry.

One of the major driving forces behind the market’s growth is the increasing legalization of marijuana across various regions. Governments are legalizing cannabis not only to combat illegal markets but also to generate tax revenue through regulated sales. This policy shift is expected to create favorable conditions for the legal cannabis industry, including the cannabis beverages segment, and positively influence its global expansion.

In addition to legal reforms, the growing popularity of wellness drinks is anticipated to support rising demand for cannabis beverages throughout the forecast period. The acceptance and legalization of cannabis for both medical and recreational use have had a profound effect on alcoholic beverage sales, encouraging many alcohol manufacturers to diversify into cannabis-infused drinks. For example, Lagunitas, a popular California-based beer brand owned by Heineken, introduced Hi-Fi Hops, a cannabis-infused beverage that contains zero calories or carbohydrates, and is infused with both Cannabidiol (CBD) and Tetrahydrocannabinol (THC). Similarly, in 2017, Constellation Brands, the third-largest beer producer in the U.S., formed a strategic partnership with Canopy Growth, the world’s largest cannabis cultivator, with the goal of developing a range of cannabis-infused drinks.

A shift in consumer preferences from sugary soft drinks to health-conscious alternatives is another significant trend contributing to the growth of cannabis beverages. These beverages often contain low sugar content, aligning with consumer health priorities. Additionally, they are gaining popularity as a smoke-free and edibles-free alternative to traditional marijuana consumption methods such as smoking or ingesting infused edibles like cookies, brownies, gummies, and candies. The growth of off-trade sales channels—including hotels, cafes, restaurants, clubs, and lounges—is further increasing the accessibility and attractiveness of cannabis beverages, helping them reach a broader audience.

A substantial driver of this market is the rising demand from millennial consumers, who represent a large and influential segment. According to a 2017 Yahoo News survey, the majority of the 55 million recreational cannabis users in the United States belonged to the millennial generation. Most of these individuals reportedly used cannabis in social settings, with only 25% consuming it alone. Moreover, a decade-long study conducted by researchers at the University of Connecticut and Georgia State University, completed in 2017, found that in U.S. counties where marijuana was legalized, purchases of wine and beer declined by approximately 15%, indicating a notable shift in consumer behavior toward cannabis-based alternatives.

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The FAQs about the Cannabis Beverages Market highlight its size, growth rate, key players, and technological segments.

1. What is driving the growth of the cannabis beverages market?

The market is experiencing rapid growth due to factors such as increased legalization of cannabis, a rise in health-conscious consumers shifting from alcoholic beverages to cannabis-infused options, and the popularity of wellness products, which are driving demand for cannabis beverages.

2. What are the different types of cannabis beverages?

• Cannabis beverages can be broadly categorized into two main types:

• Alcoholic Cannabis Beverages: Infused with THC, offering psychoactive effects similar to traditional alcoholic drinks.

• Non-Alcoholic Cannabis Beverages: Often infused with CBD, they do not produce a high and appeal to health-conscious consumers looking for relaxation or wellness benefits.

3. What are the major companies in the cannabis beverages market?

• CANN SOCIAL TONICS

• ARTET, LLC

• VCC BRANDS (CQ Drinks)

• Keef Brands

• BellRock Brands (Dixie Brands)

• Aphria Inc. (Tilray)

• Canopy Growth (Tweed)

• FABLE

• Mary Jones

• Teapot (Boston Beer Company, Inc.)

4. What are the potential health benefits of cannabis beverages?

Cannabis beverages, particularly those infused with CBD, are touted for potential benefits such as anxiety relief, anti-inflammatory properties, and improved sleep quality. However, it's essential for consumers to consult healthcare professionals before trying cannabis products for health benefits.

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CBD-Infused Products Market: Expansion, Legalization, and Growing Applications

Market Size and Forecast

The CBD-infused products market is growing at a remarkable pace, largely driven by the rising demand for cannabis and its derivatives. One of the most significant factors contributing to this surge is the increasing legalization of cannabis in many countries. This has opened the door for wider acceptance and availability of CBD products.

Among the most sought-after products in this market are cannabis-infused edibles. These items have gained popularity not only for their recreational use but also because of their perceived therapeutic and medicinal value. As consumers become more health-conscious and curious about alternative wellness options, CBD-based products have found a broader appeal.

Despite the optimism, the market faces a few critical challenges. The high cost of CBD extraction and processing continues to hinder scalability, while stringent legal regulations in certain regions slow down the introduction of new products and innovation. Nevertheless, the future holds considerable promise. With consumers showing increasing interest in products like cannabis-infused pet foods and beverages, new opportunities are emerging. However, it’s important to note that concerns regarding potential health risks associated with excessive CBD consumption still pose a challenge to be addressed.

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CBD-infused Products Market Growth Drivers

Rising Demand and Legalization of Cannabis

One of the primary drivers of the CBD-infused products market is the worldwide trend toward cannabis legalization. Over the past two decades, numerous countries have either legalized or decriminalized cannabis use for both medical and recreational purposes. This progressive shift has led to a growing acceptance of CBD in various forms.

Cannabis continues to be the most widely used illicit drug globally, but legal changes are reshaping this landscape. Canada, for instance, legalized cannabis for both recreational and medicinal use in 2018. In the United States, as of February 2025, 24 states, along with the District of Columbia and two U.S. territories—Guam and the Northern Mariana Islands—have legalized adult recreational use of cannabis.

Public sentiment is also in favor of legalization. A 2025 Pew Research Center survey found that 88% of U.S. adults support legal cannabis use, with 32% backing it solely for medical purposes and 57% supporting it for both medical and recreational use. This wide support further bolsters the market and encourages businesses to expand their CBD product offerings.

The growing legalization also demands more structured regulatory frameworks to ensure product safety and standardization. As governments and organizations work to establish these frameworks, the path for market growth becomes smoother and more sustainable.

Medicinal and Therapeutic Benefits of CBD Products

CBD is increasingly being recognized for its therapeutic benefits, which is another key reason behind the rising popularity of CBD-infused products. Many countries have legalized cannabis for medicinal use, and consumers frequently use it to manage pain, reduce stress, and stimulate appetite.

CBD oil in particular is gaining attention for its wide range of health applications. Research and anecdotal evidence suggest that CBD may help treat conditions such as inflammation, neurological disorders like epilepsy and Alzheimer’s, anxiety, chronic pain, acne, and even certain mental health conditions.

In wellness settings, CBD is being integrated into spa treatments such as massages. These massages often use oils, creams, or balms infused with CBD, allowing the compound to be absorbed directly into the skin. Users report that CBD massage therapy helps reduce tension, inflammation, and discomfort, enhancing the relaxation experience.

As more consumers seek out natural remedies and alternatives to traditional pharmaceuticals, CBD’s reputation as a health-supporting product continues to strengthen, further fueling demand.

CBD-infused Products Market Opportunities

Growing Demand for CBD in Pet Food

The pet care sector is emerging as one of the most promising growth areas for CBD-infused products. Pet owners are becoming increasingly aware of the potential benefits of CBD for managing conditions like arthritis, anxiety, digestive problems, and chronic pain in animals.

A 2023 survey by PETS International and Yummypets, covering pet owners in the U.S., Canada, France, and the U.K., revealed that 72% were aware of CBD products for pets. Among the 944 participants, 16% had already tried them, and 41% expressed interest in doing so. The most commonly used pet CBD products were oils (63%), chews (59%), biscuits (22%), sticks (12%), and pastes (9%).

According to the American Pet Products Association, American pet owners spent $147.0 billion on their pets in 2023, a $10 billion increase over the previous year. This growing investment in pet wellness is creating a strong market for CBD pet products.

Rising Demand for Cannabis-infused Beverages

CBD-infused beverages are another fast-growing segment within the market. These drinks are available in a variety of types and flavors to cater to different consumer preferences. Brands like CANN, Zentopia, and TRIP have introduced CBD sparkling beverages that are designed to promote relaxation and calmness.

As more consumers shift away from sugary and alcoholic beverages toward healthier alternatives, CBD drinks are becoming increasingly attractive. Big names in the beverage industry are also getting involved. For instance, Heineken launched Hi-Fi Hops, a cannabis-infused beer available in California that contains both THC and CBD, is alcohol-free, and has zero calories and carbs.

CBD beverages are also gaining traction in the fitness and wellness sectors. Athletes and gym-goers are using CBD-infused drinks as part of their pre- and post-workout routines. This growing interest in functional beverages is expected to be a major driver for market expansion.

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Key Market Insights and Segment Analysis

Dominance of the Hemp Segment

CBD products are primarily derived from either marijuana or hemp. In 2025, hemp-based CBD products are expected to dominate the market, making up about 76.3% of the overall share. This is due to hemp’s low THC content, which makes it more suitable for health and wellness products without the psychoactive effects of marijuana.

Hemp-derived CBD is also being used widely in cosmetics and skincare due to its anti-aging, antioxidant, and anti-inflammatory properties. As more consumers become aware of these benefits, the hemp segment is projected to grow at a CAGR of 32.7% over the forecast period.

CBD Edibles Set to Lead by Type

Among all product types, CBD edibles are expected to account for the largest market share in 2025, with a projected 33.6%. These products include a wide variety of foods such as baked goods, gummies, and other confectionery items.

As recreational use of cannabis becomes more common, edibles offer a more accessible and appealing way for consumers to try CBD without smoking. CBD edibles are also being developed to help manage a range of health issues, including pain, inflammation, cancer-related symptoms, and neurological conditions. The edible segment is forecast to grow at a CAGR of 35.2%, making it the fastest-growing category.

Offline Stores to Hold the Largest Market Share

In terms of distribution, offline channels like pharmacies, health stores, and licensed dispensaries continue to hold the majority share of the market. Consumers often prefer to purchase CBD products in person to verify authenticity, receive expert advice, and avoid counterfeit items.

However, e-commerce is quickly catching up. Online stores offer convenience, a broader selection of products, and attractive discounts. With increasing consumer comfort in shopping online and more brands expanding their digital presence, online sales are expected to grow rapidly in the coming years.

Regional Insights: North America Dominates the Market

North America is projected to be the dominant region in the CBD-infused products market in 2025, accounting for roughly 59.5% of the global share, or around $26.76 billion. Several factors contribute to this, including well-established cannabis processing capabilities, rising demand for wellness products, and increasing consumer awareness.

The region is also expected to post the highest growth rate, with a CAGR of 34.3%. The presence of major companies, the ongoing legalization efforts, and expanding e-commerce channels are all driving factors behind this growth.

Competitive Landscape and Recent Developments

The CBD-infused products market includes numerous established and emerging players. Key companies include Canopy Growth Corporation, Aurora Cannabis Inc., Maricann Inc., Tilray Brands, GW Pharmaceuticals, MediPharm Labs, and Cresco Labs. These organizations are actively engaging in research, product innovation, and strategic partnerships to capture market share.

Notable recent developments include the launch of THC+THV uplift gummies by Rare Cannabinoid Company in December 2023. In May 2022, Curaleaf Holdings introduced Select CBD Bites, while Canopy Growth entered the U.S. CBD beverage market in April 2021 through a partnership with Southern Glazer’s Wine & Spirits, launching a line of products under the Quatreau brand.

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Global Legal Marijuana Market  Trends and Insights: Key Drivers and Challenges

The global legal marijuana market, valued at USD 26.0 billion in 2023, is forecasted to experience explosive growth, reaching USD 146.9 billion by 2032. This surge represents a compound annual growth rate (CAGR) of 21.2% during the forecast period from 2024 to 2032. The rapid expansion of the market can be attributed to the increasing legalization of cannabis, growing acceptance of marijuana for both medicinal and recreational use, and the evolution of public perceptions around the product.

The legal marijuana industry is experiencing a dynamic transformation as countries and states across the globe decriminalize or legalize marijuana, creating new opportunities for growth in both the medical and recreational sectors. With expanding legislative support, a burgeoning cannabis consumer base, and significant advances in cultivation, production, and distribution technologies, the market is poised to make significant strides over the next decade.

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Key Drivers of Market Growth

Increasing Legalization Across the Globe One of the primary factors fueling the growth of the legal marijuana market is the increasing wave of cannabis legalization taking place across various regions of the world. In the United States, numerous states have legalized marijuana for recreational and medicinal purposes, contributing to a burgeoning market. States such as California, Colorado, and Oregon have set precedents for cannabis legalization, paving the way for others to follow suit. As of 2023, more than 20 U.S. states have legalized marijuana for recreational use, and the trend is expected to continue.

Similarly, countries like Canada and Uruguay have fully legalized cannabis, while other countries are expected to explore or expand legal cannabis use in the coming years. This growing wave of legalization is not only boosting the demand for legal marijuana but is also providing an emerging market for cannabis-related products such as edibles, tinctures, and topicals.

Rising Acceptance of Cannabis for Medicinal Use The rising recognition of marijuana’s therapeutic benefits is playing a critical role in the legal marijuana market’s expansion. Medicinal marijuana has been used for centuries to alleviate a range of ailments, including chronic pain, anxiety, insomnia, and even symptoms of more severe conditions like epilepsy, multiple sclerosis, and cancer. As research and clinical trials continue to prove the effectiveness of cannabis in treating various health conditions, demand for medicinal cannabis is growing globally.

The U.S. Food and Drug Administration (FDA) has approved a range of cannabis-based products, including Epidiolex, a CBD-based medication used to treat epilepsy. These advancements have helped normalize marijuana use in medical circles, leading to more acceptance from healthcare professionals and patients alike. This trend is anticipated to drive the medicinal cannabis market forward, contributing significantly to overall market growth.

Cultural Shifts and Changing Public Perceptions Public perception of marijuana has shifted dramatically over the past few decades. While marijuana was once viewed primarily as a recreational drug associated with illegal activity, attitudes have changed as research has highlighted its potential benefits for wellness and health. Increasingly, marijuana is being recognized not only for its recreational appeal but also for its potential to improve mental and physical health. As social stigma surrounding marijuana use diminishes, more people are

Investment in Cannabis Research and Development Significant investments in the research and development (R&D) of cannabis products are fueling the growth of the legal marijuana market. The cannabis industry has attracted considerable funding from venture capitalists, private equity firms, and even large corporations. These investments are aimed at developing new products, improving cultivation techniques, enhancing product quality, and ensuring compliance with regulatory standards.

The continued focus on R&D in the cannabis space is driving the innovation of cannabis products, such as cannabinoid-based therapeutics, wellness supplements, beauty products, and more. Companies are increasingly exploring the use of cannabinoids like CBD and THC for diverse applications, ranging from skincare to mental wellness, further driving market expansion.

Key Segments:

By Product Type

Flower

Oil & Tinctures

By Application

Medical

Chronic Pain

Cancer

Depression and Anxiety

Arthritis

Diabetes

Glaucoma

Migraines

Epilepsy

Multiple Sclerosis

AIDS

Amyotrophic Lateral Sclerosis

Alzheimer’s

Post-traumatic Stress Disorder (PTSD)

Parkinson's

Tourette’

Other

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Emerging Trends in the Legal Marijuana Market

The Growth of Cannabis Edibles and Beverages One of the fastest-growing segments of the legal marijuana market is cannabis edibles and beverages. These products offer a discreet and convenient alternative to smoking marijuana, which has contributed to their rising popularity. Cannabis-infused products, such as gummies, chocolates, and beverages, have become a mainstream choice among consumers looking for a new and enjoyable way to experience marijuana.

As consumers seek a broader variety of marijuana products, the demand for cannabis-infused food and beverages will continue to rise. The growing popularity of health-conscious, low-calorie, and vegan cannabis edibles will also play a significant role in this trend.

Sustainability in Cannabis Cultivation The cannabis industry is increasingly adopting sustainable farming practices to meet the growing demand for legal marijuana while minimizing environmental impact. Practices such as organic cultivation, water conservation, and energy-efficient production methods are becoming more widespread among cannabis growers. This trend is driven by both consumer demand for sustainably sourced products and regulatory pressures to adopt environmentally friendly practices.

The rise of eco-friendly practices is expected to shape the future of the legal marijuana market, with environmentally conscious consumers pushing brands to consider sustainability throughout the production and distribution process.

Cannabis Tourism and Wellness Cannabis tourism is emerging as a unique and growing sector, especially in regions where marijuana is legalized for recreational use. Cannabis-friendly resorts, tours, and experiences are gaining traction as consumers seek immersive and novel cannabis-related experiences. In addition to tourism, the wellness trend is increasingly intersecting with cannabis use, with more people incorporating CBD and other cannabinoids into their daily health routines to alleviate stress, pain, and sleep issues.

This trend toward cannabis tourism and wellness is expected to further boost market growth as new experiences, wellness centers, and cannabis-infused products are integrated into the travel and lifestyle industries.

Key Players

Key Service Providers/Manufacturers

Canopy Growth Corporation (Tweed, Spectrum Cannabis)

Aurora Cannabis Inc. (Aurora Sky, Aurora Drift)

Cronos Group (Peace Naturals, COVE)

Tilray, Inc. (Tilray, Aphria)

Hexo Corp. (Hexo, Redecan)

Charlotte's Web Holdings, Inc. (Charlotte's Web Hemp Extract, CBD Capsules)

Organigram Holdings Inc. (Organigram, Edison Cannabis Co.)

GW Pharmaceuticals (Epidiolex, Sativex)

Green Thumb Industries (Rythm, Dogwalkers)

Trulieve (Trulieve Cannabis, Muse)

Regional Insights

North America is currently the dominant region in the legal marijuana market, with the United States leading the way in legalization and market size. States such as California, Colorado, and Illinois have experienced rapid market growth, and federal legalization may further accelerate the industry’s expansion.

The European market is also growing, with countries like Germany and the Netherlands taking steps toward broader legalization for both medicinal and recreational use. Meanwhile, countries in Latin America, such as Uruguay and Mexico, are setting significant precedents for the legalization of marijuana, creating new market opportunities in these regions.

Conclusion

The legal marijuana market is on the brink of unprecedented growth, with a projected value of USD 146.9 billion by 2032, driven by increased legalization, evolving public attitudes, expanding retail channels, and growing demand for cannabis products. As both medicinal and recreational cannabis gain broader acceptance, the market will continue to expand rapidly, offering new opportunities for innovation, investment, and consumer engagement. With the cannabis industry evolving and diversifying, it is clear that the legal marijuana market is set to play a crucial role in the global economy in the coming years.

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Medical Marijuana Market Growth Drivers and Challenges 2024-2032

The Medical Marijuana Market was valued at USD 16.1 billion in 2023 and is projected to reach USD 72.1 billion by 2032, growing at a CAGR of 18.1% during the forecast period. Increasing recognition of cannabis-based treatments for various medical conditions and expanding legalization efforts worldwide are driving market growth.

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Regional Analysis

North America: Widespread legalization and increasing patient adoption have significantly contributed to market expansion. Several regions have reported substantial sales growth, reflecting rising demand.

Europe: Established medical cannabis programs and progressive regulatory frameworks are fostering industry development, with key markets expanding access to patients.

Asia-Pacific: Traditionally conservative markets are beginning to explore legalization, indicating future growth potential. Emerging policies are expected to create new opportunities in this region.

Market Segmentation

By Product Type:

Flower: Preferred for smoking or vaporization.

Oils & Tinctures: Used in oral consumption and infused products.

By Application:

Chronic Pain Management: Increasingly replacing traditional pain medications.

Neurological Disorders: Effective in treating epilepsy, multiple sclerosis, and other conditions.

Mental Health Treatment: Recognized for benefits in managing anxiety, depression, and PTSD.

Key Players

Key Service Providers/Manufacturers

Canopy Growth Corporation (Tweed, Spectrum Therapeutics) – (Smiths Falls, Canada)

Aurora Cannabis (Aurora Sky, Aurora Drift) – (Edmonton, Canada)

GW Pharmaceuticals (Epidiolex, Sativex) – (Cambridge, UK)

Tilray (Tilray THC, Tilray CBD) – (Nanaimo, Canada)

Cronos Group (Cove, Spinach) – (Toronto, Canada)

Charlotte's Web (Charlotte's Web Hemp Extract, CBD Oil) – (Boulder, USA)

Green Thumb Industries (Incredibles, Dogwalkers) – (Chicago, USA)

Aphria Inc. (Alcanna, Apollon) – (Leamington, Canada)

Hexo Corp. (Hexo Extracts, Redecan) – (Gatineau, Canada)

Columbia Care (Columbia Care CBD) – (New York City, USA)

Organigram Holdings (OGI CBD, Edison Cannabis Co.) – (Moncton, Canada)

MedMen (MedMen Premium Cannabis, MedMen Dispensaries) – (Los Angeles, USA)

Cureleaf (Curaleaf Cannabis, Select CBD) – (Wakefield, USA)

Cronos Group (Peace Naturals, Good Buds) – (Toronto, Canada)

Vireo Health International (Vireo, Mary’s Medicinals) – (Minneapolis, USA)

Trulieve (Trulieve THC, Trulieve CBD) – (Tallahassee, USA)

Liberty Health Sciences (Liberty Dispensary, Liberty CBD) – (Gainesville, USA)

The Green Organic Dutchman (TGOD Organic Cannabis, TGOD CBD) – (Headquarters: Oakville, Canada)

Icanic Brands Company (CaniBrands, Icanic THC) – (Los Angeles, USA)

Harvest Health & Recreation (Harvest CBD, Beekeeper's Naturals) – (Tempe, USA)

Key Market Insights

The number of medical cannabis patients continues to grow, with chronic pain being a leading reason for use.

Studies indicate a reduction in opioid prescriptions due to medical marijuana adoption.

Government initiatives and regulatory advancements are expanding accessibility and market opportunities.

Future Outlook

The medical marijuana market is on a strong upward trajectory, supported by ongoing research, product innovation, and increasing societal acceptance. As legalization progresses across more regions, demand is expected to rise significantly. Advances in cultivation, extraction technologies, and new product formulations will further enhance the industry’s potential.

Conclusion

The medical marijuana industry is witnessing remarkable growth, driven by evolving regulatory landscapes and increasing awareness of its therapeutic benefits. With expanding legalization and continuous research, the market is set to offer diverse opportunities for both businesses and consumers in the coming years.

Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)

Other Related Reports:

Fertility Services Market

Medical Power Supply Market

Post Traumatic Stress Disorder Treatment Market

MRI Guided Neurosurgical Ablation Market

[time4hemp]

AI Takes Time 4 Hemp

Artificial Intelligence is Revolutionizing the Global Hemp Market

Written by Casper Leitch

The hemp industry is undergoing a transformation, and Artificial Intelligence (AI) is at the forefront of this revolution. Once dismissed as a niche agricultural product, hemp has rapidly gained global recognition for its sustainability, versatility, and economic potential. But as the demand for hemp products - from textiles and bio plastics to medical cannabis - continues to surge, so does the need for smarter, more efficient ways to cultivate, distribute, and market this remarkable plant. Enter AI.

At Time 4 Hemp, we’ve always been committed to breaking barriers and challenging outdated perceptions about hemp. Now, we’re taking it a step further by embracing AI-driven innovations that are reshaping the industry. Whether it’s optimizing hemp farming with predictive analytics, automating supply chains, or using AI-generated content to amplify the message of hemp legalization, technology is playing a crucial role in accelerating the movement.

Much like the way AI is revolutionizing music - think of how The Monkees started as a fictional band before becoming a real one - the hemp industry is experiencing its own reinvention. AI is helping businesses streamline operations, create new hemp-based products, and bring historical hemp activism into the digital age. Even at Time 4 Hemp, we’re using AI to breathe new life into past interviews, generate fresh content, and explore creative ways to spread awareness about the plant’s benefits.

The intersection of AI and hemp is more than just a trend - it’s the next phase in the fight for global hemp legalization, sustainable agriculture, and a thriving cannabis market. In this article, we’ll explore the many ways AI is helping to expand the global hemp market, revolutionizing everything from farming techniques to consumer engagement. The future of hemp isn’t just green - it’s intelligent.

The global hemp industry is undergoing a significant transformation, thanks to advancements in Artificial Intelligence (AI). From optimizing cultivation techniques to enhancing market reach, AI is revolutionizing the way hemp is grown, processed, and sold. As the push to end hemp prohibition and legalize medical and recreational marijuana gains momentum, AI is proving to be a powerful ally in making the industry more efficient, sustainable, and profitable.

AI and Optimized Hemp Cultivation

One of the biggest challenges in hemp farming is maximizing yields while minimizing resource consumption. AI-powered tools are addressing this challenge in several ways:

Real-Time Monitoring: AI-driven sensors and cameras track soil moisture, pH levels, temperature, and light exposure. By providing real-time insights, these tools help farmers maintain optimal growing conditions and reduce crop failure.

Predictive Analytics: Machine learning algorithms analyze historical data to predict the best planting and harvesting times, allowing farmers to maximize yields and minimize waste.

Automated Systems: AI-driven irrigation and lighting systems adjust dynamically based on plant needs, leading to significant resource conservation.

Disease Detection: Computer vision technology identifies early signs of pests or diseases, enabling timely intervention and reducing dependency on chemical treatments.

Strain Optimization: AI helps breeders develop hemp strains with specific traits, such as higher CBD content or improved resistance to environmental stress.

By integrating AI into hemp farming, cultivators can boost productivity while aligning with the industry’s sustainability goals.

AI-Powered Predictive Analytics in Hemp Farming

Predictive analytics is transforming hemp farming by using historical data, statistical algorithms, and machine learning to forecast future outcomes with high accuracy. Key applications include:

Weather Predictions: AI analyzes historical and real-time weather data to forecast rainfall, temperature, and other climatic conditions, helping farmers plan optimal planting, watering, and harvesting schedules.

Yield Forecasting: AI estimates potential crop yields based on factors like soil quality, seed strain, and environmental conditions, allowing farmers to plan resources effectively.

Pest and Disease Risk Assessment: Predictive models alert farmers to potential pest infestations or disease outbreaks before they become widespread, minimizing losses and reducing the need for reactive chemical treatments.

Market Demand Insights: AI studies market trends and consumer behavior, helping growers anticipate demand for hemp-based products like CBD oil, textiles, and Eco-friendly packaging.

With predictive analytics, hemp farming is evolving into a precise, data-driven industry that minimizes waste and maximizes profitability.

AI’s Role Beyond Cultivation

Beyond farming, AI is playing a crucial role in expanding the global hemp market through:

Precision Marketing: AI-driven tools analyze consumer behavior to create targeted marketing strategies, helping businesses effectively promote hemp-based products.

Quality Control: AI-powered imaging systems detect impurities in hemp-derived products like CBD oil and assess the strength of hemp fibers for textiles.

Product Customization: AI enables brands to tailor hemp products to individual consumer needs, such as personalized CBD blends or skincare products.

Research and Development: AI analyzes vast datasets to accelerate the discovery of new hemp applications, including bio-fuels, construction materials, and food products.

E-Commerce Optimization: AI enhances online shopping experiences by offering personalized recommendations, managing inventory, and predicting demand to prevent stock shortages or oversupply.

Regulatory Compliance: AI helps businesses navigate complex hemp regulations, ensuring compliance with local and international laws.

By integrating AI across multiple aspects of the industry, hemp businesses can enhance efficiency, drive innovation, and expand their market reach.

Real-World Applications of AI in the Hemp Industry

Several companies and farms are already leveraging AI to advance the hemp industry. Examples include:

Precision Agriculture: AI-powered drones and sensors monitor hemp fields in real-time, providing valuable data on soil health and plant growth.

Quality Assurance: AI imaging systems detect inconsistencies in CBD oil and evaluate the durability of hemp fibers used in textiles.

Product Personalization: AI-driven platforms analyze customer preferences to develop tailored CBD blends and skincare solutions.

Market Analytics: AI-driven tools track consumer behavior and market trends, helping businesses identify demand for specific hemp products.

Regulatory Assistance: AI-powered compliance tools ensure businesses follow local and international hemp regulations, reducing legal risks.

These real-world applications showcase how AI is not just improving efficiency but also driving innovation in the hemp market.

How to Implement AI in Hemp Farming

For hemp farmers and businesses looking to integrate AI into their operations, here’s a step-by-step approach:

Assess Your Needs: Identify the specific challenges you want to address, such as improving yield, reducing resource usage, or enhancing pest control.

Invest in AI Tools: Consider AI-powered drones, soil sensors, and automated irrigation systems to optimize farming practices.

Choose the Right Software: AI-driven precision agriculture platforms analyze farm data and provide actionable insights.

Train Your Team: Ensure employees are familiar with AI tools and software to maximize their effectiveness.

Collaborate with Experts: Work with AI specialists or agricultural consultants to tailor AI solutions to your farm’s unique needs.

Monitor and Adjust: Continuously analyze AI-generated data and refine farming strategies to improve outcomes.

By implementing AI, hemp farmers and businesses can enhance productivity, improve sustainability, and stay competitive in a rapidly growing market.

The Future of AI in the Hemp Industry

AI is set to play an even greater role in the expansion of the global hemp market. As technology advances, we can expect:

More precise and automated farming methods that further reduce waste and increase sustainability.

Enhanced AI-driven research into new hemp applications, from biodegradable plastics to next-generation textiles.

Greater integration of AI in retail and e-commerce, making hemp products more accessible to consumers worldwide.

Smarter compliance tools to help businesses navigate evolving hemp regulations with ease.

As AI continues to shape the industry, hemp entrepreneurs, farmers, and activists must embrace these technological advancements to drive growth and push for broader hemp legalization.

Make AI A Team Player In Your Business

The integration of AI into the hemp industry is revolutionizing everything from cultivation and marketing to product development and regulatory compliance. By leveraging AI, hemp businesses can optimize efficiency, enhance sustainability, and expand market reach. As the global movement to end hemp prohibition and legalize medical and recreational cannabis gains momentum, AI stands as a crucial tool in accelerating the industry's growth and innovation. Embracing AI-driven solutions will not only strengthen the market but also help shape a more sustainable and profitable future for hemp worldwide.

Below is a FREE TO DOWNLOAD marijuana music MP3 by The Illusions Of Music.

A Toke In Time

[market-insider]

Changing Landscape of the Smoking Accessories Market: From Traditional to Modern

The global smoking accessories market size was estimated to reach USD 91.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2022 to 2030. The growing population of smokers along with the launch of new and innovative products which holds a large consumer base is expected to drive the market growth during the forecast period. Furthermore, the growing inclination of users towards roll-your-own tobacco to suit their choice as they prove to be cost-effective is expected to drive the overall growth of the market. Moreover, the availability of legalized cannabis that is recreated resulted in increasing demand for smoking accessories thus resulting in more revenue generation and thus contributing to the market growth in the region. 

The launch of new and diverse tobacco flavors including vanilla, chocolate, menthol, and others coupled with their growing fame among smokers of all age groups is driving the market. These flavored tobacco products are highly used with accessories such as vaporizers and waterpipes resulting in high demand and adoption of these accessories. Moreover, the growing adoption and demand for medicinal herbs over traditional tobacco products and their declining demand have resulted in increased demand for smoking accessories among the targeted population thus propelling the growth of the market. However, the presence and imposition of strict and rigid government guidelines in several regions is expected to restrain the growth of the market during the forecast period. 

Smoking Accessories Market Report Highlights

North America is expected to witness the second-fastest CAGR of 4.0% from 2022 to 2030 owing to increasing nicotine product consumption among students, females, and young adults

The filter and paper tip segment is estimated to expand at a significant CAGR of 4.3% during the forecast period. The segment filter outs the harmful components such as tar prior the inhalation of smoke which results in its rising use thus contributing to segment growth

Europe held a significant share of nearly 30.0% of the market in 2021 and is expected to witness a considerable CAGR in the coming years. This is attributed to considerable growth in the consumption and demand for make-your-own joints, cigarettes, and others that requires the use of smoking accessories.

The online segment is estimated to witness the fastest CAGR of 4.4% during the forecast period. The growth of the segment is contributed to the high usage of online-based smoking accessories platforms along with application-based platforms among the young population.

For More Details or Sample Copy please visit link @: Smoking Accessories Market Report

The COVID-19 pandemic had diverse effects on various industries. Some of the industries experienced an upsurge while others experienced a negative impact. However, the smoking accessory experienced a limited effect. It was slightly negative due to a halt in distribution and sales channels as well as the closure of factories as per the government lines to stop the surge of the disease. Due to the above-mentioned reasons, the demand for smoking accessories was low at the initiative level but as the restrictions and laws imposed by the government started to lift, the market is making a recovery. With progressing time, the market is expected to grow at a considerable CAGR during the forecast period. 

The vaporizer segment held the largest revenue share of over 30.0% in 2021. The high and increasing usage and adoption of vaporizers by smokers as a healthier substitute for smokers is contributing to the dominance of the segment. Vaporizers are also highly used by consumers as they are considered to be less harmful due to the fact that they do not produce damaging toxins. The growing use of vaporizers due to the availability of various flavored nicotine products to be used with vaporizers along with the fact that they are cost-effective is expected to contribute to the further growth of the segment. 

The offline segment held the highest revenue share of over 75.0% in 2021 and is expected to expand at a considerable rate in the coming years. The high share of the segment is attributable to the high reachability of these channels to the consumers. A substantial amount of discounts is provided by these channels leading to the high usage of these channels. Moreover, customers' high inclination along with easy accessibility of these channels to the targeted population are other key factors contributing to more revenue generation thus driving the market growth. 

Asia Pacific accounted for the largest revenue share of over 45.0% in 2021. The growing adoption and usage of smoking accessories among the young population as they the adopt habit of smoking in order to achieve a cooler appearance among others have been contributing to the regional dominance. The rising prevalence of smoking with the escalating population results in growing adoption and use of smoking accessories thus driving the market expansion. The rising disposable income coupled with increasing western lifestyle adoption are other key factors contributing to the growth of the market. 

List of Key Players of the Smoking Accessories Market

Bull Brand 

BBK Tobacco & Foods, LLP

 Chongz

British American Tobacco PLC 

Curved Papers, Inc.

Univac Furncrafts Pvt. Ltd.

Imperial Brands 

Republic Technologies International

Jinlin (HK) Smoking Accessories Co., Ltd.

Moondust Paper Pvt. Ltd.

We have segmented the smoking accessories market based on type, distribution channel, and region.

[mordorintelligencemarketresearch]

Cannabidiol (CBD) Market is Projected to Reach USD 21.87 Billion by 2030, Growing at a CAGR of 15.65% (2025-2030)

Overview of the Cannabidiol (CBD) Market

The cannabidiol (CBD) market is projected to grow significantly, with an estimated value of USD 10.57 billion in 2025, reaching USD 21.87 billion by 2030. This represents a compound annual growth rate (CAGR) of 15.65% during the forecast period from 2025 to 2030. CBD is a naturally occurring compound found in the cannabis sativa plant, which has gained significant popularity for its potential therapeutic benefits. Unlike THC (tetrahydrocannabinol), CBD does not produce a "high," making it a preferred option for consumers seeking the health benefits of cannabis without the psychoactive effects.

The CBD market encompasses a wide range of products, including:

CBD Oils and Tinctures: Used for their ease of consumption and fast absorption.

CBD Edibles: Gummies, chocolates, beverages, and other food products infused with CBD.

CBD Skincare Products: Creams, lotions, and serums designed for skin health and anti-aging.

CBD Capsules and Supplements: Offering a precise dose for consumers seeking daily wellness benefits.

The market for CBD is expanding rapidly, driven by changing attitudes toward cannabis, growing consumer awareness, and the increasing acceptance of CBD for a variety of health and wellness concerns.

2. Market Drivers: What is Driving Growth in the CBD Industry?

Several key factors are driving the growth of the CBD market:

2.1 Rising Consumer Demand for Wellness Products

As consumers increasingly seek natural alternatives to traditional pharmaceuticals, CBD has gained traction due to its potential benefits for a wide range of health issues. These include pain management, anxiety relief, better sleep, and stress reduction. As more individuals look for holistic solutions to improve their overall well-being, CBD products have become a popular choice in the wellness and self-care space.

2.2 Legalization and Regulatory Changes

The legalization of hemp-derived CBD products in many regions, particularly in the United States, has provided a significant boost to the industry. The 2018 Farm Bill in the U.S. legalized hemp cultivation and the production of hemp-derived CBD, further legitimizing the market. As more countries and states adopt similar legal frameworks, the global market for CBD is expected to expand.

2.3 Increased Awareness and Education

As awareness around the benefits of CBD grows, more consumers are turning to it as an alternative treatment option. The rise of social media, educational platforms, and research studies has helped educate the public about the various applications of CBD. Companies are investing heavily in marketing and consumer education to promote their products and establish trust with consumers.

2.4 Expanding Product Variety and Innovation

The innovation in CBD-based products is fueling market growth. From CBD-infused beverages to skincare and pet products, the industry is continuously introducing new and diverse products to meet consumer demand. This variety makes CBD products accessible to a wider demographic, increasing adoption across different consumer segments.

3. Emerging Trends in the CBD Market

3.1 CBD in Skincare and Beauty

CBD’s anti-inflammatory and antioxidant properties have led to its integration into the skincare industry. Many consumers are turning to CBD-infused lotions, creams, and serums for their purported benefits in reducing skin irritation, acne, and signs of aging. The growth of the "CBD beauty" trend is expected to continue as skincare brands increasingly offer CBD-based solutions.

3.2 CBD for Pets

CBD is not only popular among humans but is also gaining traction in the pet care market. Pet owners are turning to CBD products to help manage their pets' anxiety, pain, and stress. CBD treats, oils, and capsules for pets are becoming widely available, catering to a growing segment of animal health products.

3.3 Personalized CBD Products

As the wellness industry moves toward more personalized and tailored solutions, CBD is following suit. Companies are beginning to offer products that are customized to meet individual needs, such as specific dosage, form, and even CBD-to-THC ratios. This trend aligns with the growing desire for personalized wellness solutions.

3.4 Sustainability and Ethical Sourcing

With increasing consumer interest in sustainability and ethical consumption, many CBD brands are focusing on environmentally friendly sourcing practices. Organic hemp cultivation, sustainable packaging, and cruelty-free testing are becoming key selling points in the CBD industry.

4. Challenges Facing the CBD Industry

While the CBD industry shows immense potential, there are several challenges it faces:

4.1 Regulatory Uncertainty

One of the most significant challenges for the CBD market is navigating the regulatory landscape. While hemp-derived CBD is legal in many regions, regulations around its use in food, beverages, and dietary supplements remain complex and inconsistent. The lack of clear, unified regulations can create hurdles for businesses looking to expand into new markets.

4.2 Market Fragmentation

The CBD market is still in its early stages, and as a result, it is highly fragmented. Many small and new businesses are entering the market, which has led to intense competition. As the market matures, consolidation is expected, but for now, the abundance of options and the inconsistency in product quality can confuse consumers and hinder market growth.

4.3 Misleading Marketing and Lack of Standardization

The lack of standardization in the CBD industry can lead to misleading marketing claims and product inconsistencies. Consumers may struggle to differentiate between quality products and those that are poorly formulated or ineffective. The industry requires clearer labeling, more transparency, and uniform product standards to build consumer trust.

4.4 Scientific Research and Evidence

While many studies suggest that CBD may offer health benefits, more comprehensive, large-scale clinical trials are needed to fully understand its efficacy and safety. The lack of concrete scientific evidence on the long-term effects of CBD usage could limit its broader acceptance in mainstream medicine.

5. Future Outlook: What’s Next for the CBD Industry?

The CBD industry is expected to continue its strong growth trajectory, with some analysts predicting it will surpass USD 20 billion by the end of the decade. Several factors will contribute to this growth, including:

Expansion of Legal Markets: As more countries and states legalize CBD, both for medical and recreational use, the market will see a broader customer base.

Continued Product Innovation: New product categories, such as CBD-infused beverages, sleep aids, and fitness-related products, will continue to diversify the market.

Corporate Investments: As big pharma, food, and beverage companies enter the space, the CBD industry will see increased funding and resources, accelerating product development and marketing efforts.

Consumer Trust and Education: As education and research improve, consumers will become more informed, leading to increased demand and adoption.

6. Conclusion

The cannabidiol (CBD) market is positioned for significant growth, driven by an increasing demand for wellness products, regulatory advancements, and ongoing innovation. While challenges such as regulatory uncertainty and market fragmentation remain, the industry's expansion into new product categories, along with rising consumer awareness, will propel its future success. As the global market for CBD continues to evolve, it presents vast opportunities for companies and investors to explore within the wellness, beauty, and healthcare sectors.

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence

[marekating]

Cannabis Beverages Market Analysis: Trends, Size, and Projections, 2032

Market Overview:

The global cannabis beverages market was valued at USD 2.04 billion in 2023 and is expected to expand from USD 3.09 billion in 2024 to USD 117.05 billion by 2032, reflecting a CAGR of 57.50% during the forecast period. North America led the market in 2023, holding a 21.14% share. In the U.S., the market is anticipated to experience substantial growth, reaching approximately USD 81.44 billion by 2032, driven by the increasing legalization of cannabis and cannabis-infused products across multiple states.

This information is provided by our researchers at Fortune Business Insights, in the report, titled, “Cannabis Beverages Market, 2024-2032.”

According to our expert analysts, the market is projected to attain traction from the rising penetration of cannabis in the unexploited consumer markets, such as Thailand and Australia, among others. Additionally, the surging consumers’ predisposition towards experimenting with novel and groundbreaking food and beverages has also improved the market performance.

List of Key Players Mentioned in the Market Report:

Aurora Cannabis Inc. (Edmonton, Canada)

Aphria Inc. (Leamington, Canada)

Canopy Growth Corporation (Canada)

MedReleaf Corp. (Edmonton, Canada)

Cronos Group Inc. (Toronto, Canada)

GW Pharmaceuticals, plc. (Cambridge, U.K.)

CannTrust Holdings Inc. (Vaughan, Canada)

VIVO Cannabis Inc. (Ontario, Canada)

Tilray (Nanaimo, Canada)

OrganiGram Holdings (Moncton, Canada)

Report Coverage:

The report presents a holistic study of the market along with current trends and upcoming estimations to institute approximate investment gains. An in-depth analysis of any forthcoming prospects, threats, competitions or driving factors are also declared in the report. Furthermore, methodical regional analysis of the market is offered.

Moreover, COVID-19 impacts have been added to the report to help investors and business owners to comprehend the jeopardies better. The top-tiered players in the market are recognized, and their tactics to reinforce the market growth are shared in the report.

Source: https://www.fortunebusinessinsights.com/industry-reports/cannabis-beverages-market-100738

Segmentation:

By type, the market is divided into:

Alcoholic

Non-alcoholic

Based on distribution channel, the market is segregated into:

Mass Merchandisers

Specialty Stores

Online Retail

Others

On the basis of geography, the global market is separated into:

North America

Europe

Rest of the World

Drivers and Restraints:

Transformation of Beverages Sector to Create New Growth Opportunities

Cannabis consumers are no longer restricted to smoking flowers with joints, bongs, or pipes but have an option from a surging assortment of products, involving concentrated as well as infused products. The beverages industry in itself is experiencing an indispensable change in terms of all the ingredients and additives.

Consumers, particularly in the advanced markets of North America and Europe are persistently forming the category amidst organic and chemicals-free, and with detectible and herbal formulations trends and developments. This is anticipated to bolster the cannabis beverages market growth during the upcoming period.

Regional Insights:

North America is at the front position of the cannabis-infused beverages sector and holds the maximum cannabis beverages market share. This region registered for USD 527.83 million in 2020. The sector was commanded by the U.S. where the functional beverage market is unveiling a sudden growth graph.

Cannabis-based beverages have exhibited comparatively lower growth in the developing regions such as Asia, Oceania, and Latin America owing to the ban of THC products in the market.

Competitive Landscape:

Radical Product Presentation by Vital Players Set to Navigate Market Growth

The prominent players in the market apply abundant tactics to fortify their position in the market as leading companies. One such considerable tactic is acquiring companies to boost the brand value among users. Another essential strategy is intermittently launching pioneering products with thorough review of the market and its target audience.

For example, in April 2021, Molecule Holdings Inc., inaugurated Molecule Crafted, which is a cannabis-infused craft beverage assortment in Canada. These cannabis beverages are low in calories and accessible in various exotic as well as bold flavors.

Industry Developments:

August 2023 -  Tilray Brands, Inc., a global cannabis product company, acquired  Truss Beverage Co.™ (Truss) from Molson Coors Canada. This acquisition would allow the company to expand its market presence.

[global-research-report]

Paving the Way for the Future: Cannabis Technology Driving Industry Growth

The global cannabis technology market size is expected to reach USD 23.46 billion by 2030, expanding at a CAGR of 25.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The rising trend of cannabis legalization in various regions globally is expected to drive companies to develop cannabis consumption technology to attract new customers. Moreover, the increasing medical applications of cannabis are anticipated to drive cultivators in using modern technology to grow specific strains, thereby helping to grow the market.

There is an influx of new technology-focused players entering the market for cannabis tech to develop devices and software for the cultivation, warehousing, and consumption of cannabis. These companies are using modern technologies such as artificial intelligence and genetic engineering to develop high-tech cannabis cultivation and consumption devices. For instance, developments in vertical farming technology have enabled cultivators to maximize growing space and save on energy costs with the help of LED strips and advanced ventilation systems.

North America is anticipated to account for a significant share of the market for cannabis tech over the forecast period owing to the extensive legalization in the region. For instance, 21 states in the U.S. have legalized the recreational use of cannabis. Additionally, the trend of cannabis dispensaries in the region is anticipated to drive regional growth. The significance of these cannabis dispensaries is that they are legal and enable the government to collect taxes on the total sales of cannabis.

Cannabis Technology Market Report Highlights

Based on component, the softwaresegment is anticipated to grow at the fastest rate of almost 32% during the forecast period, due to significant developments in smart cannabis consumption devices

Based on distribution channel, the offline segment recorded the largest market share of around 89% in 2022, as a result of the growing number of cannabis dispensaries

Based on application, the consumption segment is expected to expand at a significant CAGR during the projection period, due to the prominent medical uses of cannabis

Based on end use, the recreational segment is anticipated to advance at the highest CAGR of around 30% in the coming years, aided by the growing popularity of cannabis for recreational use during the COVID-19 pandemic

Based on geography, North America dominated the market with a share of over 56% in 2022, due to the growing implementation of technology in the cannabis industry, coupled with the increasing trend of vaping in the region

Cannabis Tech Market Segmentation

Grand View Research has segmented the global cannabis technology market based on application, distribution channel, component, end-use, and region:

Cannabis Tech Application Outlook (Revenue, USD Billion, 2018 - 2030)

Cultivation

Indoor

Outdoor

Processing/Manufacturing

Warehousing

Consumption

Vaporizers

Decarb Machine

Accessories

Cannabis Tech Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

Online

Offline

Cannabis Tech Component Outlook (Revenue, USD Billion, 2018 - 2030)

Hardware

Software

Cannabis Tech End-use Outlook (Revenue, USD Billion, 2018 - 2030)

Medical

Recreational

Industrial

Cannabis Tech Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

US

Canada

Europe

UK

Germany

France

Spain

Italy

Asia Pacific

China

India

Australia

South Korea

Thailand

Latin America

Brazil

Mexico

Middle East & Africa

South Africa

Morocco

Key Players in Cannabis Technology Market

Ardent Life, Inc.

Demetrix, Inc.

Courier Plus, Inc. (Dutchie)

Casters Holdings LLC (Fyllo)

Green Thumb Industries

Jane Technologies, Inc.

LeafLink, Inc.

Puff Corporation (Puffco)

SpringBig

Stealth Monitoring

Order a free sample PDF of the Cannabis Technology Market Intelligence Study, published by Grand View Research.

[marketinsight1234]

Legal Cannabis Market Size-Share, Growth Factors, Forecast 2023-2030

Global Legal Cannabis Market is expected to grow at a significant growth rate, and the forecast period is 2023-2030, considering the base year as 2022.

The Legal Cannabis Market has experienced unprecedented growth in recent years, driven by changing societal attitudes towards cannabis, increasing legalization efforts, and the recognition of its potential economic benefits. As more regions around the world embrace cannabis for medical and recreational use, the market has evolved into a dynamic and multifaceted industry. The market encompasses a wide range of products, including cannabis flower, edibles, concentrates, and pharmaceuticals, creating a diverse landscape with numerous opportunities for both established players and new entrants.

Leading Key Players Covered Legal Cannabis Market: -

Canopy Growth Corporation (Canada), Aphria Inc. (Canada), VIVO marijuana Inc. (Canada), OrganiGram Holding Inc. (Canada), Aurora marijuana Inc. (Canada), The Green Organic Dutchman (Canada), Atlas Growers (Canada), Maricann Group, Inc. (Canada), Tilray Inc. (Canada), Terra Tech Corp. (US), Stenocare A/S (Denmark), HEXO Corp. (Canada), Medical Cannabis Inc. (US), AlephSana GmbH (Germany), Tikun Olam Ltd. (Israel), Cannabis Science Inc. (US) and Other Major Players

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Market Driver:

One significant market driver propelling the Legal Cannabis Market is the growing acceptance of cannabis for medicinal purposes. Increasing awareness of the therapeutic properties of cannabis, along with a shift in regulatory frameworks favoring medical cannabis use, has fueled demand. The expanding list of medical conditions where cannabis is prescribed, such as chronic pain, epilepsy, and anxiety, is driving the market's growth. As more scientific research validates the medical efficacy of cannabis, it not only enhances consumer confidence but also attracts investments and stimulates innovation in product development.

Market Opportunity:

A key market opportunity lies in the emerging trend of cannabis-infused products and beverages. The shift towards alternative consumption methods, such as edibles and beverages, presents a vast opportunity for market players. As consumers seek discreet and convenient ways to incorporate cannabis into their lifestyles, the market for infused products is expected to witness significant growth. This includes a wide range of offerings, from cannabis-infused snacks and beverages to more sophisticated formulations catering to specific health and wellness needs. Companies that can successfully navigate this segment stand to capitalize on the evolving preferences of consumers.

Segmentation of Legal Cannabis Market: -

By Type          

By Product Type       

By Sales Channel       

By Application          

By End-User   

By Region      

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A Deep Dive into the Mexico Medical Cannabis Market: Insights and Analysis

The Mexico medical cannabis market size is expected to reach USD 117.7 million by 2030. It is projected to grow at a CAGR of 20% between 2023 and 2030, as per a new report by Grand View Research, Inc.Favorable government policies are projected to boost the acceptance of cannabis-derived products in the next years. This is the main factor driving the growth of the market.

In addition, the industry is likely to benefit from an increase in user acceptance of Cannabidiol (CBD) due to its numerous health benefits. CBD is being utilized to treat a growing number of chronic ailments. In light of recent regulations being set around the use, production, as well as sale of cannabis specifically for use in medicinal purposes, will aid in the monitoring of products entering the supply chain while also allowing the government to benefit from taxes collected through these products.

Due to the high population density and a big patient pool, medical cannabis is likely to become one of the most profitable industries in Mexico in the coming years. As per WHO, in 2020, 195,499 new cases of cancer were detected in Mexico. Various research studies have demonstrated CBD’s potential benefits in nausea suppressing quality of cancer, resulting in an increase in its use in cancer patients. Chronic pain due to a variety of diseases and conditions as well as old age has been on the rise in the past few years, medical cannabis has been studied extensively in reducing the perception of pain.

Extracts from the plant in form of oil, like CBD oil has been on the market around the world, for quite some time and is increasingly being seen as an alternative treatment for chronic pain. The Global Pain Index study, conducted by GSK in 2020, studied 1,000 individuals each, from 19 countries, the data collected revealed, that pain prevalence among Mexican individuals is nearly 98%. Due to legalization, it has become easier for patients as well as medical practitioners to prescribe it for chronic pain and hence has resulted in the growth of the medical cannabis market in Mexico.

Gather more insights about the market drivers, restrains and growth of the Mexico Medical Cannabis Market

Mexico Medical Cannabis Market Report Highlights

• The marketis anticipated to witness steady growth over the forecast period as medical cannabis is being utilized to treat a growing number of chronic ailments

• Flowers, in the product category emerged as the largest segment in 2022 due to their price and easy availability

• Chronic pain had the highest revenue share based on application, owing to the fast use of CBD as an alternative to opioids and synthetic medications for the treatment of chronic pain

Mexico Medical Cannabis Market Segmentation

Grand View Research, Inc. has segmented the Mexico medical cannabis productmarket based on product and application:

Mexico Medical Cannabis Product Outlook (Revenue, USD Million, 2017 - 2030)

• Flowers

• Oils &Tinctures

Mexico Medical Cannabis Application Outlook (Revenue, USD Million, 2017 - 2030)

• Cancer

• Chronic Pain

• Depression & Anxiety

• Arthritis

• Diabetes

• Glaucoma

• Migraines

• Epilepsy

• Multiple Sclerosis

• AIDS

• Amyotrophic Lateral Sclerosis

• Alzheimer’s Disease

• Post-Traumatic Stress Disorder (PTSD)

• Parkinson’s Disease

• Tourette’s Syndrome

• Others

List of Key Players in the Mexico Medical Cannabis Market

• Aurora Cannabis

• CANOPY GROWTH CORPORATION

• GW Pharmaceuticals, plc

• Jazz Pharmaceuticals, Inc

• CBD Life

• HempMeds

• Isodiol International Inc.

• PharmaCielo.com

• Elixinol

• ENDOCA

Order a free sample PDF of the Mexico Medical Cannabis Market Intelligence Study, published by Grand View Research.

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Invest in CBD: Exploring the Financial Benefits of the CBD Industry

Introduction

The Growing Demand for CBD

CBD, or cannabidiol, is a non-psychoactive compound derived from the hemp plant. Unlike THC (tetrahydrocannabinol), CBD does not produce a “high,” making it an attractive option for people seeking natural remedies without the mind-altering effects of marijuana. Over the last decade, CBD has gained massive popularity, especially in the wellness and personal care industries. With an ever-growing demand for CBD products, it’s no surprise that investors are increasingly looking at ways to invest in CBD.

The Global CBD Market: A Lucrative Investment Opportunity Fueled by Legalization and Health Benefits

The global CBD market is forecasted to reach significant milestones over the next few years, making it an appealing option for both new and seasoned investors. One of the main drivers of this market expansion is the legal shift towards the legalization of hemp-derived products, along with increased awareness about the potential health benefits of CBD. From pain relief to stress management, sleep aid to skincare, people are turning to CBD products for natural remedies, which is fueling the market growth.

How to Invest in CBD

There are several ways to invest in CBD, whether through direct product sales, stocks, or partnerships with established CBD oil manufacturers. Here are some of the most popular methods:

CBD Stocks: Many publicly traded companies are leading the charge in the CBD industry. Companies that cultivate, extract, and distribute CBD products or those involved in the broader cannabis sector are ideal for investors looking to get involved in the market.

CBD Startups: If you’re willing to take on a bit more risk, investing in smaller, emerging CBD startups can lead to high rewards. Many of these companies are developing innovative products or expanding into new markets. It’s important to understand the potential of these businesses and their position within the industry.

Partnerships with Manufacturers: Another lucrative way to invest in CBD is by partnering with CBD oil manufacturers. These companies are the backbone of the CBD supply chain, producing everything from tinctures to edibles, and even topical creams.

CBD Infused Products: One popular segment to consider is CBD-infused wine. Wine lovers and CBD enthusiasts alike are increasingly interested in products that combine the relaxation effects of alcohol with the soothing benefits of CBD.

The Rise of CBD Infused Wine

Understanding CBD Oil Manufacturers

Another critical area of the CBD industry is the manufacturing of CBD oil. CBD oil manufacturers play a pivotal role in ensuring that consumers receive high-quality products that meet legal and safety standards. These manufacturers are responsible for extracting CBD from hemp, refining it, and creating products for retail sale.

Choosing the Best Carrier Oil for CBD

While considering how to invest in CBD, it’s essential to understand the different components that make up a CBD product, including the carrier oils. The best carrier oil for CBD is an essential consideration for manufacturers and consumers alike, as it impacts the product’s bioavailability, absorption, and overall effectiveness.

Conclusion

The financial benefits of investing in CBD are becoming increasingly apparent as the market continues to grow. From CBD infused wine to partnering with reputable CBD oil manufacturers, there are many ways to tap into the booming CBD market. Whether you choose to invest in stocks, CBD startups, or manufacturing partnerships, this industry offers numerous opportunities for investors to diversify and capitalize on the rising demand for natural wellness products.

FAQs

1. Why should I invest in CBD?

Investing in CBD offers the potential for significant financial growth due to the increasing demand for natural wellness products. With CBD’s wide range of health benefits and the growing acceptance of hemp-based products, the CBD market is expected to continue expanding rapidly.

2. What are the benefits of partnering with CBD oil manufacturers?

Partnering with reputable CBD oil manufacturers allows you to tap into their established supply chains, quality control processes, and a broad range of products. This reduces the risks associated with starting a CBD production company from scratch, ensuring a more streamlined and scalable business model.

3. What types of products can I invest in within the CBD market?

The CBD market offers a diverse range of products to invest in, including CBD oils, tinctures, edibles, topicals, capsules, and even niche products like CBD-infused wine. This variety allows investors to cater to different consumer segments and capitalize on various market trends.

4. How do I know if a CBD oil manufacturer is reputable?

Reputable CBD oil manufacturers should have transparency in their production processes, including third-party lab testing to verify the potency and purity of their products. You should also research the company’s track record in terms of compliance with regulations, quality standards, and customer satisfaction.

5. Is it risky to invest in CBD products?

Like any investment, there are risks involved, especially due to fluctuating regulations and market competition. However, partnering with well-established CBD oil manufacturers can help mitigate these risks by providing you with a proven business model and high-quality products.

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The Growing Cannabidiol (CBD) Market in Mexico: A CAGR of 26.60% Forecasted from 2024 to 2032

The cannabidiol (CBD) market in Mexico has experienced significant growth in 2023, marking a pivotal moment for the emerging cannabis industry in the country. As consumer awareness around the benefits of CBD products continues to expand, Mexico's CBD market is poised for substantial growth in the coming years. According to recent estimates, the market is expected to grow at a compound annual growth rate (CAGR) of 26.60% between 2024 and 2032. This growth trajectory highlights the increasing demand for CBD products in Mexico and positions the country as a key player in the global CBD market.

A Snapshot of the CBD Market in Mexico

Cannabidiol, a non-psychoactive compound derived from the cannabis plant, has gained popularity worldwide for its potential health benefits. In Mexico, the market for CBD products, including oils, tinctures, edibles, creams, and capsules, has grown steadily, fueled by both local and international demand. In 2023, the Mexican CBD market saw notable advancements, including the easing of regulatory frameworks and a growing interest in natural wellness products.

While the legal landscape for cannabis products in Mexico is still evolving, the government has made significant strides toward the acceptance and regulation of CBD products. Mexico legalized the use of CBD products containing less than 1% THC in 2017, opening the door for both domestic production and importation of CBD products. Additionally, discussions around the broader legalization of cannabis have increased, creating further potential for market expansion.

Factors Driving the Growth of the CBD Market in Mexico

Several factors are contributing to the rapid growth of the CBD market in Mexico, and these can be attributed to both domestic and global trends. Below are the key drivers:

1. Growing Consumer Awareness of CBD Benefits

One of the most significant factors contributing to the market's growth is the increasing awareness among Mexican consumers about the potential health benefits of CBD. Many people are turning to CBD as a natural alternative to pharmaceuticals for managing various health conditions, such as anxiety, chronic pain, sleep disorders, and inflammation. The rising awareness of these benefits is fueling demand for CBD-based wellness and personal care products across the country.

2. Expanding Retail Channels

CBD products are now more accessible to Mexican consumers than ever before. The rise of e-commerce platforms, coupled with the growing availability of CBD in health and wellness stores, pharmacies, and even supermarkets, has expanded the reach of CBD products. Major retail chains in Mexico are starting to carry CBD products, making them more visible and accessible to consumers. This has led to a surge in sales, especially among the health-conscious and those seeking natural alternatives to conventional medicines.

3. Regulatory Developments and Legalization

Mexico has made considerable progress in regulating the cannabis industry, particularly CBD. The legalization of CBD products containing less than 1% THC in 2017 was a key step in enabling the market's growth. In 2021, Mexico also passed a law allowing the use of cannabis for medicinal purposes, further contributing to the positive regulatory environment for CBD products. While the full legalization of recreational cannabis is still in progress, these regulatory changes are laying the foundation for increased market growth in the years to come.

4. International Market Influence

Mexico’s CBD market is also benefiting from global trends. The rising demand for CBD products in North America, particularly the U.S., has influenced the Mexican market. As CBD continues to gain traction in international markets, companies in Mexico are increasingly looking to meet the demand for CBD products, both domestically and for export.

5. Product Innovation and Variety

The range of CBD products available to Mexican consumers is expanding rapidly. In addition to traditional CBD oils and tinctures, Mexican consumers now have access to a wide variety of CBD-infused products such as gummies, beverages, skincare items, and even pet products. As companies innovate to offer diverse options that appeal to different segments of the market, consumer interest in CBD products continues to rise.

Challenges Facing the CBD Market in Mexico

While the CBD market in Mexico shows promising growth potential, there are several challenges that could impact its development in the coming years.

1. Regulatory Uncertainty

Despite the progress made in regulating CBD, there are still some regulatory hurdles to overcome. The legal framework for cannabis products in Mexico remains somewhat ambiguous, particularly regarding the cultivation, production, and sale of cannabis for recreational use. Full legalization and clearer regulations could enhance market stability and encourage further investments in the CBD sector.

2. Limited Education and Misinformation

Although consumer awareness is growing, there is still a degree of misinformation surrounding CBD and cannabis products in Mexico. Public education about the difference between CBD and THC, as well as the health benefits of CBD, is essential to dispel myths and concerns. Misinformation could hinder the adoption of CBD products among certain consumer groups, slowing the market’s growth.

3. Importation and Supply Chain Issues

The supply chain for CBD products in Mexico is largely reliant on imports, particularly from countries like the United States and Canada. This reliance on international sources could expose the market to potential disruptions, such as changes in trade policies or issues related to product quality and sourcing. Domestic production of CBD could alleviate some of these concerns but is still in the early stages.

4. Competition from the Illegal Market

While CBD products are legal in Mexico, there remains a significant challenge in the form of the illegal cannabis market. In some areas, black-market cannabis and CBD products are still prevalent, and consumers may be more inclined to purchase cheaper, unregulated products. This can lead to concerns about product safety and quality, further hindering the growth of the legal CBD market.

The Future Outlook of the CBD Market in Mexico

The future of the CBD market in Mexico looks incredibly promising, with continued growth expected over the next decade. The market is forecast to grow at a CAGR of 26.60% from 2024 to 2032, reaching an estimated value of billions of dollars by the end of the forecast period. This growth will be driven by a combination of factors, including increased consumer demand for natural health products, expanded product offerings, and a more supportive regulatory environment.

Potential Growth in Consumer Segments

The demand for CBD products in Mexico is expected to continue growing across several consumer segments, including:

Health and Wellness Consumers: The growing interest in natural and alternative health products will continue to drive demand for CBD oils, tinctures, and edibles.

Beauty and Skincare Market: As more people turn to CBD-infused skincare products, the beauty industry in Mexico will likely see a boom in CBD-based cosmetics and treatments.

Pet Care: The pet care sector is also beginning to embrace CBD, with CBD-infused products for pets being introduced to the market, offering potential for growth.

Advancements in Domestic Production

As the market matures, Mexico is likely to see an increase in domestic production of CBD products. This would reduce reliance on imports, help stabilize the supply chain, and potentially lower product costs. Domestic cultivation of hemp and cannabis for CBD extraction could open up new economic opportunities, particularly in rural areas.

Expansion of Legal Frameworks

With the continued momentum toward cannabis legalization, the broader legalization of recreational cannabis in Mexico could further boost the CBD market. Once fully regulated, the market could see an influx of new players, more investment, and a wider variety of products available to consumers.