Surging Demand for Cannabis Edibles and Concentrates Fuels Market Expansion, Projection 2025–2032.

 

Overview Of Cannabis Market

The Global Cannabis Market is experiencing a period of transformative growth, primarily fueled by the accelerating trend of legalization across medical and recreational segments in numerous jurisdictions worldwide. This shift from illicit trade to regulated industry has created massive opportunities for innovation, investment, and market expansion. The market is increasingly characterized by sophisticated products, formalized supply chains, and greater consumer acceptance.

Key drivers include the growing body of research validating the therapeutic applications of cannabinoids (like CBD and THC), particularly for pain management and chronic conditions. Furthermore, the introduction of varied consumption formats—from edibles and beverages to vapes and topicals—has widened the consumer base beyond traditional smoking methods, appealing to a mainstream audience seeking wellness and lifestyle products.

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Market Size and Data Forecast

The global cannabis market is a high-value sector with a trajectory of robust, sustained expansion. The total market size was valued at USD 32.89 Billion in 2024, reflecting the scale of established legal markets and emerging opportunities.

Propelled by a healthy Compound Annual Growth Rate (CAGR) of 9.00% across the forecast period (2024-2032), the market is set for significant near-term growth. Based on this calculated rate, the data clearly forecasts that the global Cannabis Market size will reach approximately USD 35.85 Billion by the end of 2025.

Looking further ahead, this growth momentum is expected to nearly double the market's current size, with the total valuation projected to hit USD 65.54 Billion by 2032. This outlook confirms the long-term viability and disruptive potential of the regulated cannabis industry globally.

Segmentation Of Cannabis Market

The market’s structure is complex and segmented by both source and application, demonstrating its diversity:

By Source: The market is divided into Marijuana (cannabis with high THC levels) and Hemp (low-THC cannabis primarily for CBD and industrial use). The Marijuana segment currently holds the larger share, driven by strong demand in recreational and medicinal applications.

 However, the Hemp/CBD segment is witnessing explosive growth due to the less restrictive regulatory environment for cannabidiol-infused products (the LSI keyword) globally.

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By Product Type:

 While Flower/Bud remains a staple, the fastest-growing segments are Concentrates (oils, shatter, wax) and Edibles & Beverages. Consumers are increasingly favoring these discreet, measured, and smokeless formats for convenience and a controlled dosage experience.

Key Drivers:

  • Medicinal Applications: Expanding clinical evidence supports the use of cannabis for treating epilepsy, multiple sclerosis, and chronic pain, driving the pharmaceutical segment.
  • Decriminalization: Global regulatory shifts and public acceptance are lowering entry barriers and increasing consumer confidence.
  • Product Innovation: Continuous development of diverse, appealing product forms (like fast-acting beverages and high-end vape cartridges) is attracting new users.

Key Players Of Cannabis Market

The global cannabis market is consolidating, with major Licensed Producers (LPs) utilizing strategic acquisitions and vertical integration to secure control over the supply chain, from cultivation to retail.

Key players leading the industry, largely headquartered in early-adopting markets like North America, include:

·       Canopy Growth Corporation

·       Tilray, Inc.

·       Curaleaf Holdings, Inc.

·       Green Thumb Industries (GTI)

·       Aurora Cannabis Inc.

·       Sundial Growers Inc. (Canada)

·       Canopy Growth Corporation (Canada)

·       The Scotts Company LLC (U.S.)

·       Aphria Inc. (Canada)

·       VIVO Cannabis Inc. (Canada)

·       Cannatrek (Australia)

·       SpeedWeed (U.S.)

·       GW Pharmaceuticals plc. (U.K.)

·       Harborside Health Center (U.S.)

·       Steep Hill, Inc. (U.S.)

·       CBD Einstein (U.S.)

·       Weedmaps (U.S.)

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Competition focuses heavily on securing market share in newly legalized territories, maintaining product quality and standardization, and expanding portfolios, particularly in the highly lucrative and low-regulatory-risk sector of cannabidiol-infused products.

Future Outlook

The outlook for the global cannabis market is remarkably strong, driven by the irreversible trend toward global legalization and normalization. The transition from a $32.89 Billion valuation in 2024 to a projected $35.85 Billion by 2025 highlights the industry’s immediate momentum. For companies to fully capitalize on the projected $65.54 Billion market size by 2032, they must strategically navigate the complex and evolving regulatory landscape while prioritizing product differentiation, particularly within the burgeoning segment of cannabidiol-infused products, to capture both medicinal and wellness-focused consumers.

About Us:

Data Bridge is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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